Right now I am almost debt free and on the contrary of popular belief, having debt is actually a good thing as long as the rates are low. People who hate debt usually don’t know how to use debt properly. If you use debt to grow your assets or business, then having debt can work wonders, especially if you are paying low interest. Only the fools borrow money to buy cell phones or cameras. Even buying a luxury car doesn’t make sense if you are taking a loan for it. If the money you borrow won’t bring you more money than your principle + interest, then your are scamming yourself.
To build a business from scratch is very difficult because it requires quite a bit of capital, we borrow or take out debt to start setting up a business, from there we rise. I think from here there are also benefits as long as we focus on what we are aiming for, but remember we have to pay in return. If we still have debt, we have to do more work to be able to pay it off, and that is very burdensome and we have to study at the beginning before going into debt. The fear is that in the middle of the journey our business will stop and what we have done will be useless, and that is the risk.
Accessing a loan facility to build a business is good but it depends on the business you want to establish, if it a physical business thats very lucrative it is fine because it involves individuals coming to patronize you and with your profit you can be able to pay back your loan but for you to pay back your loan as at when due, you should discipline yourself in other not to take any more from such business for any other purposes until you conclude your loan payment, some people are indebted because they fail to misunderstanding what repayment of debt is all about, before you borrow, you should go for a market survey this will enable you to know the particular establishment or imvestment that will grow fast an help you to repay your debt.
I have heard some people saying that they will borrow to invest in Bitcoin but my personal advise has always been that you don't borrow to invest in a volatile asset, despite that it is profitable in the longterm, as an investor you can't be risking two things at the sam time.