Muhammad Hussain Acquah, a renowned educator and religious leader, has advised individuals to borrow sparingly, only when absolutely necessary.
As the Headteacher of T.I. Ahmadiyya Basic School in Tema and National Preaching Secretary of Ansarullah, Ghana, Acquah emphasised the importance of responsible borrowing on Plan B FM’s Nyansapɔ Fie show with hosteaa Nana Asabea.
“Necessary borrowing should be accompanied by a clear plan of repayment,” he stressed. “The Quran encourages people to avoid excessive debt and live within their means.”
He encouraged individuals to reflect on their borrowing habits, asking themselves: “Am I borrowing frequently or occasionally? Is it causing financial stress or anxiety? Can I afford to repay the loan? Is the borrowing for a genuine want or need?”
Mary Bright Abelenma Coffie, an Alternative Dispute Resolution practitioner, youth counsellor, and fashion designer, attributed reckless borrowing to poor upbringing and a desire to live beyond one’s means.
“Self-sufficiency should be prioritised,” she advised.
“If you don’t have the means to repay your debt, then there’s no reason to take on such debt, to prevent negative future consequences and avoid living fake lives.” She also cautioned against pretending to be someone you’re not, saying, “People hire suits, wigs, cars, and other things to live a life of luxury and create a niche for themselves, which is not advisable.”
By: Longman/Planbfmonline.com
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