Debt, even if it is said to be a tool that can help one to prosper in life, I do not support that argument because debt can make one to live uncomfortable life full of stress. Debts enslave people, living their life to pay loans of money, which may otherwise have been spent extravagantly. Fro instance, borrowing money is easy such that people may be tempted to borrow without proper plan of use. This way, debts can make a person who was initially leading a prosperous life to loose his or her wealth.
Influence of banks is one major factor that makes people to have debts since they have known on better ways of attracting customers to advance loans. Having debts beats the whole idea of living a disciplined life unless under unavoidable circumstances such as being unable to cater for your medical bills or education. When you tend to live with a lot of debts, it means you are trying to live a lifestyle that you can not afford. One should try to understand him or herself and put more efforts in order to improve ones life rather than being enslaved with debts.
On the use of credit card, I do not agree whether one can manage credit card wisely and avoid having debts since credit cards are much tempting. It is true that people with credit cards tend to spent more than those who use their cash. This would obviously put an individual into unwarranted debts. Paying things with cash can enable one to even negotiate or bargain for reduction of the purchasing price where as is much impossible to bargain while using plastic money. In other words, it is easier to control money in from of cash than credit cards.
Using credit card at the end makes one to spend more since one does not feel or realize the money being spent. Therefore, for one to avoid having debts there is need for one to use cash or debit cards whereby you have control of money spend. References Daveramsey. (2010). The Truth About Credit Card Debt. Retrieved July 27, 2010, from http://www. daveramsey. com/article/the-truth-about-credit-card-debt/ Daveramsey. (2010). The Truth About Debt. Retrieved July 27, 2010, from http://www. daveramsey.