Quote from: SmartCharpa on July 03, 2024, 12:29:16 PM

Quote from: uswa56 on July 02, 2024, 04:24:39 PM

Maybe there are some people who, by having debt, will be motivated to work harder so that they can pay off the loans they have and this requires them not to be lazy because they have debts that they have to pay, but there are also types of people who will not borrow if they don't really need it and this really depends on a person's personality.

When you choose to borrow money to make an investment, of course this will be very risky if the investment cannot run smoothly and it is important for you to be able to think about it before actually deciding to take out a loan to invest, because when the investment we carry out is not in accordance with our wishes. Of course, this will cause problems for ourselves.

I believe that being in debt motivates Op to work more so that he will recover the money he borrowed. Working hard is necessary in our lives, whether we have debt or not, how can someone be lazy if they do not have debt? I've never seen such a person before, no one is happy that he or she is in debt unless they need the money for something important and have no other options. Getting a loan to start a business is not a bad idea, but it depends on the conditions of repayment, many people can give a loan, but repayment data is very small. How could a person who invests in a business expect to see a profit in two to three weeks? That is very dangerous because we cannot guarantee that we will make a good profit before the deadline. I hope we don't find ourselves in a situation where we have to borrow money to solve our problems.

Debt has never been a motivator, it is a burden that no one wants to be stuck with, people who borrow just because there is no better solution. Those who say debt is a motivator because they want to be more open, reduce pressure on themselves and try harder every day to pay off debt. No one is stupid enough to get into debt and consider it a motivation in life to get ahead.

Regarding borrowing money for business and investment, we should limit and avoid it if possible, IMO. It's not a bad idea if we don't have a better solution, but it's also never a good idea. As I said, debt is a burden and can be a barrier that causes us to fail on our entrepreneurial journey, and even puts our lives at a standstill if our startup idea fails.