I enjoyed reading this article. If you can avoid going into debt, that is obviously the ideal situation.
I think there are two scenarios when applying for debt.
When someone is in desperate need of capital and just doesn't have it. In this case, it is often also difficult to be successful in getting the credit, and you can't help thinking how it is easier to get credit when you have money or another form of security. Which makes you think..."If I had the money, I would not have applied for credit in the first place".
From the bank or credit provider's point of view, you are a risk to them. Because you already don't have money. Where are you going to get the money from to repay them?Applying for credit to have something you would like to have, but you don't want to spend your own money.
It then normally becomes easier to obtain the credit, but it comes at an expensive price...which makes you think whether it's really worth it...
This is it. In real sense, during that is never a good thing even if it's meant to be used for an investment.
In business world, they don't have problem getting into debt in order to restock their inventory and co. But this never looks good whenever it backfires. Heheh.
Happy Sunday to you.
Good to see you getting started on Blurt
Thank you, @makeitrain4ever.