Does anyone of you never experienced having debt in his entire life (don't count the ones from your parents for now)?
Personally, I thought I won't experience having debt until I did a test loan on SSS via their Salary Loan just to have a feel on what its like to have debt and the need to pay them. If you have a budget for your monthly expenses and you had unexpected debt, you would have a hard time adjusting your budget.
Why do people go into debt and got stuck into it? Its not because of the lack of money to make-up for the payment. But rather because of the weak mindset most people have when it comes to handling debt.
I tried to read as much posts as possible (both local and foreign) just to gather some of their thought on debt and how that would attack it from their perspective.
Anyway, I'll share with you some of the simplest ways to reduce and eliminate debt so stay tuned on my next post.
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