The Debt Economy: The Good & The Bad

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Hello, every one it's @Joetunex and @Josediccus here again, in this video we talked about debt. The good and the bad side of it, and how it works in the economy of different states (South Africa & Nigeria). We talked about personally owing debts and the circumstances which have led to us being debt-free.

@joetunex talked about his arrangements with a car dealership for a popular business back in South Africa and how the arrangements nearly ruined him.

@josediccus talked about the flexibilities of the credit system in Nigeria and how it's run and determined by private lenders in the country.

Apparently, a lot of Nigerians try to stay away from debt because of its financial repercussions and because of the terms and conditions that surround it. However, we both agreed that it is perceived to be negative but this isn't true, it is only so when it's uncalculated and bad.

We talked about the different irresponsible reasons why people choose to put themselves in debt and why it's important to understand one's financial background, antecedents, or experience before they can choose to be recipients of the money and be in debt.

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Hi bros, great talk on debt. Debt is always good when building assets but not on luxury or unnecessary spending. Imagine going into debt just before a big bull run, would be the best feeling. Taking a loan to acquire an asset that appreciates in value is definitely the way to go.
Thank you so much for sharing and keep enjoying the weekend :}

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Imagine going into debt just before a big bull run, would be the best feeling.

That will be so cool bro, only if we could perfectly time the market, even with the recent BTC pump, taking a loan to buy when it was low to sell high now will put a smile on one's face.
It is never a wise move to get into debt other than making use of the debt for gain, yes the plan might not work but the intent from the onset should always be using debt for profit.

Happy weekend bro, thanks for watching.

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