Debts? Does it help or made things worst?

Philippines
April 4, 2012 11:30pm CST
Speaking of debts, I use to hear from a lot of people that you're not normal if you don't have it. Hmmm.... I don't want to say it isn't normal but it's really very much true that most people have it. Even big businessmen have it and in the world of "Accounting" the term "Accounts Payable" is always there. In life, when you found yourself having no one to turn to about financial matter, debt can always save you in the some of the most crucial time you experience. I think debt can be helpful only when you know that you are capable of paying them. What if, you're already incapable? This is where the problem arises, it'll give you stress and turn of more for it. The consequence? It'll surely make things worst for you. This is very true for some. Debts can help but it can also make things worst. I think, the word debt depends on how you manage it in your life. It takes good attitude and discipline to keep that word still helpful in your dictionary;)...
4 responses
@Porcospino (17818)
• Denmark
11 Apr 12
Before my husband and I met he borrowed a large amount of money and invested it in stock. He lost it all and because he had borrowed the money that he invested he ended up with a huge debt. It will take several years before he gets rid of that debt. His debt makes it harder for us to save up money, because part of his salary is spent on the debt every month. I hope that we can avoid debt in the future. I think it is better to save up the money that we want to spend, instead of borrowing money like my husband did. I think that we will feel more free when we get rid of my husband's debt, and I want to avoid a similar situation in the furture.
@leighz (457)
6 Apr 12
I have problems with people who borrow money from me coz they don't know how to pay. It's very important for people to know that a debt is a responsibility. This is not to be taken as a hobby or a regular thing to do, but rather your last resort to give yourself a leeway for a financial crisis that needs to be addressed urgently. Be smart in making decissions on spending money. Always spend less than you earn, and save at least 10% of earnings every payday. By doing so, you are able to manage your finances and pay your debts.
• Philippines
5 Apr 12
For me, debts made things worst. Personally I have debts and also credits. I hate myself for being so extravagant before but now I already realize and start finding a way to save and have more income to pay my debts.
@johndur (3049)
• Pasig, Philippines
5 Apr 12
thats the main reason why we should save for our future...most people these days doesnt know how to save their money and wanted a quick solution to any of their financial problems...i say why get an installment car which will cost you more than 30 percent..why not save your money and buy it in cash.as of now i dont have any debts...because i believe if you wanted something then work for it first and then buy it when you have money...