i want to know more about debt (pros and cons)

Hi danix..Here are some of the pros and cons that I can share with you. Pros: 1. Debt gives you access to money. When you make credit you are making use of your credit capacity. 2. Debt allows you to start a new venture in life. 3. Debt allows you to maximize the use of your properties. Lending institutions will accept your properties as collateral for lending you money. 4. Debt helps you know yourself more. It gives you discipline to stick with your budget. Cons: 1. Failure to pay debt destroys your credibility. 2. Failure to pay debt loses your properties. 3. Failure to pay debt brings emotional and psychological pressure. 4. Debts decrease you unappropriated income thus reducing your daily expenditures.

I wouldn't say there are any pros to debt itself, but it can be beneficial to have debt. For instance, if you invest money at a higher return than the interest on your debt, then you are making a net profit and therefore, it is better to not pay off the debt yet because the money that would have been paying off the debt is making you money from the investments. Debt can cause a lot of stress though if you let it get ahead of you, and this isn't a good thing at all of course. It can create bad credit rating, and you can lose property if it gets too high as collateral. All in all, unless you're an expert with investments, it is always better to avoid taking debt when you can.