Nothing is more loyal than the debt you took. It stays with you while it is being repaid. It has, by the time you pay it off, changed you as a person. Beware before you decide to buy anything on debt.
One easy practice to ensure you dont end up taking debt is to be judicious while purchasing anything.
Saving the hard earned money keeps you off the debts. Next time when you are going to spend money to buy something, try explaining yourself why is it that you need it and can you avoid purchasing it?
After one week of this, if you still think you need it – go ahead and buy it !
Such practices are means to financial stability. Financial stability in turn reduces the need for taking a debt.
Debt is to be avoided. Debt is a financial instrument to invest in high returning ventures provided you havea clear understanding of the venture.