sunkanmi vaughn - not borrowing in business

In his feature as a guest on the radio program,’Young & Cerebral’ on UNILAG 103.1 FM on Saturday,13 December, 2018, Sunkanmi Vaughan, the author of “1000+ Practical Business Ideas and Directory of Money Sources”, Google play’s No.1 business book on the global list of top business books, stunned listeners when he said borrowing is bad for some categories of persons.

According to Sunkanmi Vaughan, you are in these categories of people;
1. If you always act on the belief that it is simpler to borrow money from family and friends rather than earn money because you think the process of earning personal income or running businesses is cumbersome and complex. Borrowing is bad for you and you should stop before it’s too late.

2. If you act on the belief that the process of earning personal income or running businesses will negatively disrupt your routine and self esteem and you then believe borrowing from families and friends won’t. For such a person, doing low paying jobs or blue collared is a no-no because it is considered demeaning and he would rather borrow from friends and family than be discomforted by the disruption of earning income. To such a person, your lenders are not helping you and if you are lending to such individual, you are literally digging their financial grave. Stop!
To be continued next week. Stay tuned!
Borrowing is bad for you if…. – Part 1 by Sunkanmi Vaughan

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