The feeling of being financially indebted.

[TOZZIBLINKZ]

Being financially indebted to another for a long time is absolutely one critical situation that every individual must endeavour never to fall into. There is absolutely nothing wrong for an individual to be in debt because as long as he or she knows how to repay off his or her debts when the time comes then there is absolutely no problem . The problem here is only when an individual is helplessly indebted and has no possible way in mind to repay the debt he or she has on another. That is why it has always been emphasized and analysed that before collecting a particular sum of money possibly as a loan , you should first of all think about various possible ways you will be able to repay back the loan to it owner, even if the intention you intend to use the borrowed money or loan for doesn't turn out as expected or as planned . For example an individual may borrow a loan to establish a business in which he or she has taught and analyse about in all ramifications is supposed to be profitable and successful.

But somehow due to environmental factors and some other factors not taught about, the business which was established later didn't go as planned. Whether the business was successful or not, the individual in question have to repay the loan. But how will he or she be able to do this especiallynow the intentions of getting the money has crumble. It is so much better to speculate other strategies and ways to repay back a loan even if the intended strategy wasn't forth-promising .

 

[CALVINDOL]

Not everyone is financially stable or equipped and due to the result of this individuals would always borrow money from each other to sort out some financial related responsibilities and priorities . Inasmuch as there is nothing wrong in borrowing money from another it is definitely very important that we first of all think about how we will be able to repay back a borrowed money before actually collecting it from the individual issuing it to us . Thinking about how we will be able to repay back a borrowed money can totally put us in a situation of actually paying the loan , but if we cannot think about a best way to repay back with a loan even if the intention we need to use the borrowed money for doesn't go as planned or expected then it is better advice not to collect the loan at all so as not to bring to yourself untold hardship and uncalled suffering .

 

[Mastergp]

When we lack money to either care for our needs or our family it could cause one to either borrow money from others or from the bank, this could be long term loan or short term loan, depending on how much one borrow, some may last for 6month, 1year, 2years, if it is long term loan it could last for 5years, 20years but through that process the borrower needs to fined ways to get the money to pay back at due time in order to avoid embarrassment from the leaner at most times there leaner may require for some valuable property in place of the loan, if the borrower lack money to pay back, it could be house (if he has any), cars or piece of land as a means of collateral,
With this effect of not having what to pay back at due tome has made many to feel afraid when getting money or anything form other they are always afraid of being embarrassed in public or destroy a long time friendship with that person because of the money he owe.

 

[Ithedicious]

I understand everything you are saying up there . Most of the time we are the cause of all these things because we choose to put ourselves in so much trouble when we are not ready to handle those trouble by ourself.

A lot of people may not have the money to carry out any activities in their life and they resorted to borrowing of money , well I don't see any wrong with borrowing of money but at the same time we should always have a plan of how the money should be paid back that is very important .

I will even advice that if we are interested to borrow money and there is no absolute plant of how that money should be paid back then borrowing of money should be avoided at that period of time because it will make you to be entangled in something that may be very difficult.

 

[uforwealth]

Being financially indebted to another for a long time is absolutely one critical situation that every individual must endeavour never to fall into. There is absolutely nothing wrong for an individual to be in debt because as long as he or she knows how to repay off his or her debts when the time comes then there is absolutely no problem . The problem here is only when an individual is helplessly indebted and has no possible way in mind to repay the debt he or she has on another. That is why it has always been emphasized and analysed that before collecting a particular sum of money possibly as a loan , you should first of all think about various possible ways you will be able to repay back the loan to it owner, even if the intention you intend to use the borrowed money or loan for doesn't turn out as expected or as planned . For example an individual may borrow a loan to establish a business in which he or she has taught and analyse about in all ramifications is supposed to be profitable and successful.

But somehow due to environmental factors and some other factors not taught about, the business which was established later didn't go as planned. Whether the business was successful or not, the individual in question have to repay the loan. But how will he or she be able to do this especiallynow the intentions of getting the money has crumble. It is so much better to speculate other strategies and ways to repay back a loan even if the intended strategy wasn't forth-promising .

Nobody will like being financially indebted because everybody wants to be financially independent. Instead of resorting to taking out loan in order to satisfy our needs why can't we try as much as possible to prevent the causes of borrowing money? The reason is that the effects of financial indebtedness are so harmful that they can cause untimely death of the debtor.

Financial indebtedness may stem from extravagant spending, over promise, indigent management of resources and so on.

If we can try as much as possible to ward off all the above mentioned causes of financial indebtedness , there is zero probability that we will experience financial indebtedness.