DEBTOMETER TO HELP YOUR FINANCIAL FREEDOM AGAINST DEBT OR BORROWING DECISION

Photo courtesy: © google.com Debt is a Latin word “Debitum” which means to owe something to someone. Financial debt is owing someone or some people or organization some amount of money as agreed on conditions between the parties involved whether formally or informally, within a scheduled period of time with required interest on the time value of money borrowed. It is a liability not an asset. It is an obligation which must be settled. 13 Reasons Why People Are In Debt: To meet basic needs like food, clothing, housing and health challenges. To meet household needs like payment for household equipment To do ceremonies like birthdays, child naming, burials, wedding, friend’s party etc. To finance family project like housing project or business projects. To pay for business expenses or operational expenses like salaries To travel abroad for different reasons. To pay tithes, offerings, donations, vows and gifts in churches and other places....