A beggar without any asset is richer than many working adults
By scheng1
@scheng1 (24649)
Singapore
December 20, 2015 1:19am CST
Getting into debt is worse than being poor.
A beggar without any asset is richer than many working adults with high debt.
The working adults are not working to get rich.
They are working to pay off debt.
If the debt is credit card debt, then the beggar is definitely richer than them.
A credit card debt can double within a short period of time. You have to work many years to pay off such debt, and you have to constantly worry about keeping your job.
A beggar does not have to worry about keeping his job. His earnings every day does not dependent on his boss since he has no boss.
If you are tempted to get into debt, you have to remember that once you have more debt than asset, you are poorer than a beggar.
6 people like this
6 responses
@birjudanak (14316)
• India
22 Dec 15
yes you are right i saw many rich people who cant sleep properly in night so they always in tension of work and debt so they cant sleep and beggar is sleep daily very greatly without any tension because he has not any pending work or meeting.
1 person likes this
@scheng1 (24649)
• Singapore
23 Dec 15
haha, that is true.
Beggars can sleep anywhere and anytime.
Sometimes when the days are hot, you can find them sleeping in the garden under the trees.
Rich people are too busy, and their pride does not allow them to sleep as freely as the beggars.
1 person likes this
@birjudanak (14316)
• India
23 Dec 15
@scheng1 yes because beggar has no tension and richer has lot of on head.
@louievill (28846)
• Philippines
20 Dec 15
very true my friend, debt is not bad if you use it the right way like business expansion and children education but just make sure you have the capacity to pay. The adult with lots of debts also has the advantage of looking good in the eyes of the public better than the beggar cause he has a house, car, eats good food etc... all loaned, the disadvantage i guess is he does not get a good night sleep
1 person likes this
@scheng1 (24649)
• Singapore
20 Dec 15
Business expansion is not necessarily a good thing.
Sometimes businesses fail because they expand too fast, and the cash flow does not meet the bank repayment.
Many business owners have to guarantee the bank loan.
Once business fails, they are bankrupted too.
1 person likes this
@louievill (28846)
• Philippines
20 Dec 15
@scheng1 yes, business expansion was not the thing to go especially during the last down turn and meltdown. "The bigger they are the harder they fall' like banks and investment institutions. Just calculated and gradual expansion.
@srisahara (4508)
• Indonesia
20 Dec 15
Yes, you are right. Many adults doing hard work for pay off debt and a beggar does not have a debt at all. But, unfortunately, there is no people want to be beggar, they prefer to be adults with high of debt and doing hard work for pay their debt...
I think it is normal people have debt, but they have to count the right portion between asset and debt. If number of asset less than number of debt, it means he/she is poor and vice versa.
I think it is normal people have debt, but they have to count the right portion between asset and debt. If number of asset less than number of debt, it means he/she is poor and vice versa.1 person likes this
@scheng1 (24649)
• Singapore
20 Dec 15
It happens all the time.
The beggar cannot get into debt because no bank will lend to him.
However, for working adults who take on a huge loan to buy big house, once they lose the job, they will lose everything, and the house is likely to sell for lesser price.
@Letranknight2015 (52665)
• Philippines
20 Dec 15
phew! we are four payments away from being free from the credit card debt! although we close the account the debt is still there. four more left and we are debt free!
1 person likes this
