The Director, Enterprise Sales, FairMoney Business, Gloria Onosode, has advanced measures how responsible borrowing can help customers reach their financial goals.
According to her, for generations, conventional financial advice has treated debt like a trap- a final, desperate resort for emergency cash or a slippery slope toward financial instability. She however said as Nigeria’s economic terrain evolved, such defensive mindset is already changing, adding that progressive business leaders, entrepreneurs, and forward-thinking individuals are realising that it can be an important financial tool for achieving personal or business objectives when used responsibly and within one’s repayment capacity.
“To build a sustainable financial future, we must change our relationship with credit. Borrowing shouldn’t be a cycle of survival; it should form part of a broader financial plan designed to support sustainable growth. The secret lies in masterfully understanding borrowing for productive purposes and learning how to leverage purposeful borrowing to hit your most ambitious milestones.
At its core, the difference between constructive and destructive borrowing comes down to one fundamental principle: what does the cash do once it lands in your account?” Onosode said.
