Credit, for a common man, is like a double-edged sword. On one hand, it offers convenience—a way to purchase things that may otherwise seem out of reach. That new smartphone, home appliance, or even education fees can be managed through easy monthly installments, making life a little smoother. This is the good side of credit. It helps bridge gaps when salaries fall short or when an emergency strikes, becoming a safety net in times of need.
But then, there's the bad side. Slowly, the habit of swiping that credit card for even the smallest expenses creeps in. A dinner here, a shopping spree there, and soon, the monthly statement starts swelling. You pay the minimum due, hoping to catch up next month. But by the time that next month arrives, the debts have multiplied, thanks to the high interest rates. What seemed like a small convenience now starts to feel like a burden.
And then comes the ugly side of credit—the tightening grip of debt. Late fees, penalties, and compounding interest add up faster than expected. The freedom that credit once gave now turns into a prison. No matter how hard you try to keep up, the amount owed seems to grow larger. It's like quicksand—the more you struggle to get out, the deeper you sink.
For the common man, credit can be a powerful tool or a heavy chain. The difference lies in how wisely it’s used.
click and follow Indiaherald WhatsApp channel