There is no way we can sugarcoat debt and the responsibilities that come with it, if you're not sure or ready to take a loan but you go ahead to take it, you're opting for bondage, a cage that you may never come out from. It's scary how bad a loan once taken out for emergency or life saving situation can turn out for the debtors.
It's one thing I've come to think on in my life, I've almost never been in the debtor side of life. I not saying I am rich or have the most to not go into one, I'm saying I have just never had to think of that option so easily. If you find me lending money from someone, it's someone I know or the amount isn't huge or I'm paying in like the next hours or days.
I hate to see people go into debt and feel too entitled to pay back even when they have the money and it's heartbreaking to see those who take loans but can't pay back because an expectation was cut short or taken away. People have lost properties and even lives because of a bad debt they went into, it's scary really!
From my family's experiences with debt to sort out pressing issues including food (that would be eaten and hunger will come again), I've learned over time to be very mindful of taking loans. It has become my last resort and honestly, I can't seem to remember anytime I've taken any loan.
If there is one thing that scares me or keeps me unsettled, it is going into debt and be unable to pay. Only the fear of it has helped me own up to the responsibilities that comes with the little debts I go into. No matter what happens, I always find a way to pay up my little debts even before the creditor raises alarm about it.
The most memorable good debt I've gone into was the one for my little business, I didn't want to tamper my stake here on Hive and I needed a huge sum to begin the business. I had to lend a little sum of money from my sister to complete the bigger part of the money I had already, I know she's my sister and I was sure I'll be able to pay back anytime soon so the fear was little. She agreed to send it to me and I started my business on a good note.
Did I pay back early enough? I can't really say but it wasn't too late considering the fact that she was thanking me and even surprised I paid back lol. What is most important was that, I have the business going well and I'll be taking profits from it long after I've sorted out my debt like it never happened. A good debt indeed!
I know it is only a little compared to the stories I've heard about good and bad loans but with those stories, I'm learning to be a better person as a debtor and as a creditor when the situation presents itself.
Image used is mine
