The more money you owe, the less likely it is that you will be able to repay your debt. Too much borrowing can quickly trap you in a debt spiral that is difficult to escape from. Skipping payments or paying your credit card late will negatively impact your credit score, making it unlikely that you will get approval for big ticket items like a home loan. Moreover, a bad credit record can have a negative impact on your professional life.
#refreshyourbudget #guardyoursavings #cutbackspending #askusforhelp #conqueringthemountain