Post
Topic
Board Economics
Re: How do you deal with financial stress?
by
acener
on 07/02/2024, 18:34:34 UTC
Its also necessary to stay out of debt.Debt affects more than just our financial well-being,having money problems can also affect our physical and emotional health, which is why it’s important that we understand how to deal with debt stress.Everyone can be under pressure,and been in a debt can actually be one of a kind since been in a debt is also a stressful situation.
Having a lot of debt will certainly make us depressed because when it is due we have to pay the loan we have lent and it will be very difficult if the income we have is not enough to be able to pay off the loan because we have borrowed too much, so it would be better for us to be able to manage our expenses. according to the income we have and don't let us not manage our expenses so we use our income on things we don't really need so we have to look for loans to be able to meet the needs we need.
It's not about the debt that gives us stress, it's about how we manage our finances. It's not necessary that having a debt means always paying interest. There are some debts known as good debts where we can use the borrowed money to make more money. The key is to manage our finances properly and use the debts wisely.
I agree with this if we could manage our finances properly then we wouldn't have any problems at all, the problem with debt is most of the people borrow to spend for the day or survive the current situation, but if they would borrow money then why not make it to survive for a long term use it to earn not just to survive the day.
Think about how you could use that money to earn it back not just to spend it all.