I wish people everywhere were encouraged by politicians, the media and their places of worship to see indebtedness in moral as well as economic terms. There is nothing wrong with borrowing money. It's a natural part of the capitalist system, whereby those who are frugal and have savings are enabled to use them to help those who wish to expand their businesses, receiving reasonable interest on the loans. But if you borrow, three conditions are necessary for your actions to be righteous: 1.1 The money borrowed should be of reasonable size commensurate with your resources and prospects. 1.2 From the outset a program of repayment should be in place. 1.3 The repayment plan should have priority over any other commitment, especially any personal spending plans.
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