Whether we’re talking about Personal Finance or Business Finance, debt is a huge crippler of success in the journey to financial prosperity. Even with this realisation, many people still struggle with debt.
According to the World Bank, the total debt for sub-Saharan Africa climbed nearly 150% to US$583 billion between 2008 and 2018. This definitely contributes to a number of factors that affect the economy hence the people living in those economies. It is also said that 78% of workers in the US live paycheck to paycheck. This is only a fraction of the reality in Africa and many other parts of the world. It is therefore clear that debt affects many people all over the world.
There are different ways to address the issue of debt at the different levels, whether global, regional, national, personal, or even in a business. The glaring question remains; What can you do about your personal debt?
Whether at a personal or business level, we have to work hard to avoid getting into debt. However, knowing that many people already struggle with debt, how can we pay off debt, even with a low income?
Here are a few tips from Healthy Wealthy Skinny
