What do you do when you have financial hard time?
Life is definitely not filled with constant reasons to smile, it is filled with thorns and sometimes reasons to cry, it is sometimes filled with periods of regrets and other times reason to leap for joy.
There are also different reactions people have towards period of hardship, while some cry and wail, others groan in pain, some others have a deep thought about how hard their life is and some just struggle to get out of their misery.
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Have you ever experienced a situation where you are in the midst of a deep financial mess, you are in debt and different issues seem to have risen from different areas of life, but the only option that appears to you is to borrow more money to pay off the ones on ground and to get new ones, that way, it looks as if the situation on ground is not getting pleasant at all as you keep getting into more and more debts.
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Imagine that as a business owner, you get a loan to start your business and maybe the sales was a little bit favourable and you were getting along just fine and paying off your debts gradually until one crazy sickness creeps in on one close family member and then you have to pay hospital bills in order to save your loved ones from dying and remember you you still have debt to pay.
After your loved ones recover, you are grateful for life and you have to struggle between paying back the money you owe completely and making sure that your business does not fail or fall.
The person who has given you the goods on credit wants the money back and paying back the money you owe her completely means your business will practically get ruined.
At this point the only thing you have in mind is to get more loan to settle the loan on ground and that is getting more loans, but really do you think this option is a good idea? And if not, what other option do you think this struggling business woman should apply at this delicate point of her life?