Some friends are under great debt pressure
Decided to take the plunge
The last gamble of a gambler is usually the most fatal
Either live or die
In fact, there are definitely more dead than alive
So don't let yourself have the chance to fall into the last gamble
What to do if you are in debt?
You can't communicate with the bank's money, try to repay the principal and interest regularly
Personal money must be communicated
If it's high-interest loans, renegotiate the interest and principal repayment plan
If there is originally no interest, set the repayment time and renegotiate the repayment time
In summary, be sure to use the saved cash flow on the knife edge
1 million loan, one year interest is now over 30,000
Don't think about the principal first, is there any way to settle the 30,000 interest?
This is likely possible
First maintain normal cash flow, do not default, do not become an untrustworthy person
Don't be afraid of becoming an untrustworthy person, just don't become a debtor in the eyes of friends
What is scarier than financial bankruptcy is reputational bankruptcy
As a trader
You owe 1 million but only have 100,000
First consider earning 30,000 from 100,000 rather than earning 1 million from 100,000
Because earning 1 million from 100,000 is likely a dead end
But earning 30,000 from 100,000 will make you more stable and smoother
Previously often received private messages about borrowing money
Most of them are also in a state of anxiety due to debt
There are occasionally friends around me who have become this state
I will tell them this truth
Never ignore phone calls, never go missing
Try to solve loan extensions and high-interest problems through communication
Then rely on your own trading to pay interest
Must have the attitude and determination to repay
You will find that you have grown a lot again
Also understood many other truths about life
If you can turn around in this environment, it shows you have been forged
If you can walk out of the trough, your life will be different from now on
If you only want to be an irresponsible debtor
Then you missed the test from heaven
Also missed a very strong opportunity
Just think of it as Sun Wukong being thrown into the furnace of Taishang Laojun
Of course, the best state is to control a reasonable asset-liability ratio
Do not fall into a potentially untrustworthy state
The globally optimal solution is to always keep 20% of assets in cash
Locally, this configuration may completely waste financial efficiency
But many excellent people and enterprises do not die from asset bankruptcy
But die from cash flow being cut off and bankruptcy
In terms of leveraging, try not to leverage stocks
Because the risk of liquidation is very high
Must leverage, only leverage real estate
Because as long as the house pays back the principal and interest, it's okay
Unlike the secondary market, where you can take your assets away by inserting needles
The physical situation has been very poor in recent years
Many traditional industry bosses encounter this problem
Of course, some traders have taken the gamble and ended up like this
I hope you can escape from difficulties soon