I believe you all know that 'A Lannister Always Pays His Debts', right?
I've been in the GOT mode since this week and I thought I should highlight that famous lofty quote from the Lannisters. I believe we all can learn important lessons from that in our day-to-day financial activities.
Debt? What a tool that can be!
The wise players in the financial sector see debt as a tool that can be used to build wealth. When they borrow, they do it to use the money and generate more wealth within a reasonable time before paying back what they borrowed.
The idea of paying back as soon as possible is what makes the difference. Once you borrow while having a solid debt settlement plan, it makes it easier to get into debt without allowing the notion of being a debtor to harm you or your reputation in any way.
You see, it's only fair for all debtors to settle their debt even if what they are owing is a quid. Unfortunately, so many people do not see being a debtor' as one of the things that can bring harm to them.
Lend them $10 and they will never return it until you take them to Court. Haha.
Imagine that!
The problem with being too relaxed as a debtor;
I believe you must have noticed that some people borrow to pay back while others borrow and hope you forget that they were ever in your debt book.
Woe betide that person who is known for being too relaxed as a debtor. They just don't see it at the initial stage, but they lose their creditworthiness as more people get to see them as chronic debt defaulters.
Trust means a lot when money is involved. Incurring debt without settling the debt is one of the easiest ways to lose people's trust. Now, if you believe both statements to be true, you will do good to always give yourself a nudge to pay back all your debt as and when due.
Even a penny you owe anyone has to be paid back.
Thanks For Not Missing Any Full-stop Or Comma
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