There Should Be No Stigma In Borrowing & Debt

The loan market is one of the oldest in the world. People have been lending and borrowing money for thousands of years. In fact, all of use will have borrowed and are probably doing so right now, especially if you have a mortgage. And yet, there is still a stigma not only with borrowing but with accumulating debt. We explain why there should be no stigma in borrowing & debt.

The Stigma

Borrowing can be troublesome, that much is clear. If you cannot manage debt, it can spiral out of control. It can lead to stress, and further debt. Nevertheless, for most people, borrowing is normal and manageable. Having a level of debt is part of life, in the same way it is fine for countries to use debt to stimulate finances. And yet still for many it is seen to be an embarrassment to borrow and accumulate any debt. Some see it as a failure in life to borrow, as it is asking for help.


Despite the perception of debt being caused by frivolous overspending most research paints a very different picture. Research shows that most debt problems are more often caused by unforeseen events. Or to put it another way, a sudden event that causes a change of circumstances. Such as redundancy, a relationship break up or the loss of a loved one. There are no stigmas around these unexpected events and the debt issues are often just a by-product of something else in life. And thus certainly not a cause for embarrassment. At some point in our lives need some form of financial assistance, from debt consolidation to simply borrowing money from family to help ease a financial mistake.

Credit card debt

The fact of the matter is that credit card debt is a reality for many in the UK. It is seen as part of normal life, though it should never be trivialised. As always, it is fine as long as it is kept under control. If you’ve got credit card debt, you are obviously not alone. If you have multiple cards, the same applies. Credit cards are designed to entice you to trigger interest cares, so be sensible wit your use of them. Banks understand your financial behaviours more than you think. That’s why credit cards so are so effective at encouraging people to spend more.

You’re a more profitable customer if you carry a balance and pay interest every single month. Offers exist to entice you in,, in the hope tat you will continue to use the card and accumulate costs after the offer has long expired.


Even if you’re committed to slashing your credit card debt, it’s not always simple. But it can be. Take back control, budget accordingly, and plan your financial affairs. Know what lies ahead. Calculate what you spend each month, and you will be better placed to deal with existing debt.