You would agree with me that debt is a hell hole right? Well, I guess it depends on which context we put it, so it might be for some people and it might not be for others, it all depends on the concept.
Today's post and topic was drafted from what I've personally experienced and what I've seen around me. We can hear it in the news about how debt has increased in a massive way in the world.
Source
I'm pretty sure the debt owed in the world all together about a decade or two decades ago will have tripled and quadrupled in number now as things are deteriorating around the globe.
I wrote a post about 5 days ago talking about the increased high cost of living in my country and @kerrislravenhill replied to my post. During our conversation she was stressing about how the same cost of living is causing a problem in her country and how debt has increased massively as an average canadian is in debt.
Here is what she said.
Not only homelessness but the average debt owed by Canadians to banks is $73,000 in 2022. Somethings got to give soon. 😟
As you can deduce you would see that debt is owed almost all around the world following the people around like a curse. In canada, it is expected that things would be entirely different due to their great economy and all but even in there, there are debts owed by an average canadian, I believe that is truly bad.
I've had my own share of experience in owing of debt before and when I say it's not easy living life with debt, you should trust me because I've passed through the same phase before.
Debt can be an hindrance to saving and investing and also living a better life. The unrest that comes with it alone is worth depression and many have fallen to depression because of debt, because as an average man living life with the little you make is hard enough but the moment debt is involved in it, it turns to a whole different disastrous nightmare which might cause depression as I have said and in the worst case leading to illness or even death.
I've heard a lot of times in the news of how many have committed suicide because of the debt they owed or how they couldn't cope with the cost of living of the country, though ending their lives is such a loss but that doesn't mean the debt is gone as it can be passed down to the next of kin.
The hell hole of debt is coupled with depression, illness and death and only the improvement or upgrade of the economy can allow the less privileged be able to make enough to live a better life.
I really do hope this comes to an end, but in reality and to be true, I'm not seeing it getting better anytime soon but we still hope for the best.
Thanks for stopping by my blog.
Currently struggling with debt , it reduces one's productivity and creativity ability, always make someone to always be in a hurry especially when it has to do with money there by making the individual lose more
It's so sad that debt is what a lot of people pass through now.
It's become a normal phase.
I wouldn't be surprised if I got a call from a loan company that someone used me as a guarantor, haha.
I hope you get out of the debt soon.