Debt is not meant to be paid its new money just

[Livingleged]

For me I don’t like taking loans, because paying back will be very difficult for me, anytime, I pay back loan I feel that am losing money, Those who borrow money to start up a new business, are making a very  big mistake, because the business might not go smooth as plan, though it may work for other people but not everyone, so before you go into borrowing loan, make sure the collateral isn’t that much let it be an amount you can pay without regretting.

That is the most difficult part of it paying back its more difficult when the load want taken to build a business not everyone get the capital to start a business so they are forced go take a loan to do that.
I honestly think it’s not bad to take a loan to start a business but taking loan to buy properties that do not return anything.

[Republikcoin.com]

That is the most difficult part of it paying back its more difficult when the load want taken to build a business not everyone get the capital to start a business so they are forced go take a loan to do that.
I honestly think it’s not bad to take a loan to start a business but taking loan to buy properties that do not return anything.

What you said isn't wrong, but in my area, there are also people who deliberately take out loans to buy property, but the loan payments are deducted directly from their monthly salary. And after thinking about it, I realized that this would also be quite difficult if the monthly salary is only enough to cover living expenses for one month. That's why taking out a loan to buy something that can't be reinvested is a very wrong move, because it's only suitable for developing a business so that it can smoothly repay the loan within the agreed time.

[tabas]

That credit score building is going to help you build your dreams. And this is what most of the people does. But I think that we're seeing a shift from that idea and it's still best to have no debt at all. You'll have no pressure to think of your mortgages and loans and the interest that are included there. Without credit score, you'll not move that far but, you've got a peace of mind. You can choose on which is a better choice as you become a working person who's trying to achieve their goals and dreams. IMO, it's still best to sleep at night without anything to worry with for payments afterward.

[slapper]

Okay but this is talking about two completely different things and calling them both "debt".

The example of Trump is perfect actually. He borrows, and the asset increases in value; he borrows more against the rising value. Never sells. Never "pays back" in any way that is real. Just keeps the cycle going. And when it crashes? Bankruptcy protection. Limited liability. Start over.

And yeah banks need collateral in order to just print money. But notice who owns the collateral? It's not random. It's concentrated. So new money gets created but it flows to people who already have assets in order to borrow against. Everybody else just has to deal with inflation eating their wages.

The part on pumping asset prices through debt, that's real. Cheap borrowing causes values to become inflated. But, inflated values only help you if you own things. If you're trying to buy in you're just priced out further.

[el kaka22]

That is not for people like us, that is for people who are wealthy. For people like us, we have small debts and we are forced to pay it.

There is a famous saying, "if you owe the bank a thousand dollars, it's your problem, if you owe them 1 billion dollars, it's their problem", and same logic literally made Trump the president because he had so much debt to banks and he wasn't paying none of it, so they funded his campaign a lot, more than anyone else (except Elon) and in return he paid them off. So if you are not that rich, you gotta pay the bank.

[Odogwu-Blockchain]

Debt by itself isn’t evil, it’s a tool. Govts, corps, even rich individuals use it to expand, leverage, and grow. That’s why credit history matters—bigger trust = access to bigger capital. When used right, debt can push growth and even raise asset values you already hold.

Debt is more deadly if can't be held strong and used properly, it's just like woman getting power, where they literally use to get others and themselves burnt to ashes. That investors who had mastered the art of money, business and building can be able to request for a loan and deliver it back according to their plan and structure.

I'll never advise any individual personality to adopt the idea of taking loan and be into debt, except such investor is strong enough to handle anything, what it may be.

[Somto9Light]

the fact about real life is somehow the richer you are the most likely you are to loan for money because banks think you can pay for the money you are asking for but the poor ones can never get loans even if it is to start a business so they resort to loan sharks with lesser restrictions

You're right about this, but I think it depends on compliance. Yes the rich comply more faster than the poor. And one other thing is your reputation, if you're this set of people that don't pay back on time then you will not be included in their trust list or they won't build a good relationship with you, and secondly your loan amount will not increase. So it is how fast you respond that will make them build relationship with you and also increase your loan amount, and just so you know that loan is not limited to some certain people. Everybody is free to apply for loan but your compliance will determine if you will be permitted to take the next time or not.

[Yeesha]

That is the most difficult part of it paying back its more difficult when the load want taken to build a business not everyone get the capital to start a business so they are forced go take a loan to do that.
I honestly think it’s not bad to take a loan to start a business but taking loan to buy properties that do not return anything.

What you said isn't wrong, but in my area, there are also people who deliberately take out loans to buy property, but the loan payments are deducted directly from their monthly salary. And after thinking about it, I realized that this would also be quite difficult if the monthly salary is only enough to cover living expenses for one month. That's why taking out a loan to buy something that can't be reinvested is a very wrong move, because it's only suitable for developing a business so that it can smoothly repay the loan within the agreed time.

I've also witnessed that kind of situation before, some people use to buy something in the company that they work in on credit, and the payment will be deducted from their salary. and I don't see anything wrong with that. But at the same time what you said is extremely right, borrowing what you can't invest e.g taking a hundred thousand loan for a phone, car, house or something you can't resell in order to get profit, is actually not advisable, or smart at all. On the surface, it's convenient but hidden risks lide. I know that they might be certain conditions that borrowing money will be the only option, this is understandable. Because as my people use to say "is condition that make crayfish bend", that's why some people are doing so. Sometimes life forces you to do what you never wanted or wish to do, like when rent's due, kids need school fees, or salary's delayed, people make tough choices.