Debt is not a very good thing and we at all times should try to avoid it. Debt is also a kind of slavery whereby people who owe a lot tend to not have peace of mind. At every point in time, a debtor is always in fear of harassment by the lender.
One of the things that cause people to incur debts is when one tries to leave above his or her means. Often times, we want to be like the other person, we want to drive the latest car in town, we want to wear the trending clothes and accessories etc when we do not even have extra cash flow.
The bible admonishes us to be contented with what we have. Do not always want to go beyond your reach; when you do so, you will certainly incur debts and this in turn will make you unstable in life.
The bible also in Proverbs 22:7 says “The rich rule over the poor and the borrower is slave to the lender.”
It is indeed a very great burden and load to be financial indebted to someone. More worse is when the indebtedness is not helping in alleviating the already financial challenges on your weak shoulder.
Always try to build your life within what you can afford and reach. The most important thing in life is having peace of mind and accumulating debt is one thing that steals that from a man. Constantly try to avoid debt as it will not aid your financial freedom.