I’m one of a few people who don’t like debt and this is because my parents taught me against it, I don’t blame them because most Nigerian parents do. The older I get the more I realize that debt is not bad just that what you are trying to use it for must be very important. If you’re not using debt for what is guaranteed to self-improve you and put money in your pocket there is no point in taking a loan or using debt to buy properties and is guaranteed to put money in your pocket, apart from these two I believe collecting debt will some way enslave you and I’m not trying to say this to scare anybody.
One debt that is common all over the world is people taking loans to go to school, which I believe is a good loan but most people do this without having a proper plan for it, and at the end of the day, they end up paying for the loan for a long period which makes them either rich or poor. Some people are making a huge salary, but still can’t pay up their student loans and some of these loans have high interest, I know of someone who is paying over 25% on his loan and he doesn’t intend to pay you back at once even if he has the money. When I add everything up, this guy should be very rich but because he has a loan with a very high interest rate it is eating up his wealth, and sometimes he struggles to get by every month.
Why can't you pay up
Some people have generalized debt as a normal thing because they have a lot of people around them with so much debt. One thing they don't know is that debt is like a parasite and it will only suck up all your nutrients. Sometimes we can’t go for the opportunity that is presented to us because of the kind of debt we are in, it is very difficult for us to put our money into things that can compound over time. Why are you in a huge debt that is taking a good amount of money away from you, which means you will work for the rest of your life? If you can put all this money you are using to pay back debt into one account with interest or to start up a business there is a chance that you probably be rich now.
People blame people who buy their house without a mortgage on it. People believe it is a bad move, but when you think about freedom and peace, and also easy for you to put your money into another thing without thinking much about owning government or owning somebody I believe it’s worth it, but most people are trapped because of the little benefit that they have just because they are in debt. For you to see better opportunities and also to grow your finances quickly you have to pay off your debt. It is better to Channel all our energy and effort into paying your debt before you try to invest, it is better to free ourselves first.
Be better
People don’t know that their lives will be better without debt. You have to find a way to kill the parasite eating up all your nutrients but if you are taking loans just to buy properties that are putting a lot of money in your pocket it is fine. Having debt that you are paying high interest back on without putting any money in your pocket is slavery, and this is a parasite on your finances because it would be hard for you to grow without clearing your debt.  Create a plan for yourself that will enable you to pay your debt back quickly and see how improving your life would be.
Thanks for your time.
