Debt Can Bring Growth Opportunities 

Jean d’Amour Mbonyinshuti

A 39-year-old Rwandan media and communications professional

Living debt-free is often portrayed as the ultimate goal, a symbol of discipline, freedom and peace of mind. While this may be true for some, the reality for many salaried individuals, particularly in developing economies, is more complex. Avoiding debt altogether is not always the smartest choice; it can sometimes limit or slow personal growth. 

For those relying on monthly salaries, the rising cost of living may leave little room for saving. Major expenditures such as building a home and paying for children’s education require external financial support. In such cases, loans are not a sign of poor discipline but a practical tool for survival and advancement. 

During my years of public service, relying solely on a salary meant running out of money midway through the month. Like many, I had to turn to bank loans and informal borrowing to maintain a basic standard of living. Over time, this reliance can feel burdensome, but it highlights a key truth: for many, debt is necessary. 

Beyond survival, debt can enable long-term progress. Modern financial systems, through credit cards, mobile money loans and buy-now-pay-later schemes, provide flexibility and immediate access to funds. While these tools carry costs, they allow essential needs to be met without years of waiting. 

The problem is not debt itself, but how it is managed. Responsible borrowing for productive purposes and understanding repayment terms can transform debt into a powerful financial tool. 

However, it would be misleading to ignore the risks. Poorly managed debt can lead to financial stress, dependency and a cycle that is difficult to break. Many people find themselves overwhelmed, constantly repaying loans without ever feeling financially secure. This is where caution becomes essential. 

Living entirely debt-free may offer peace of mind, but for many, it also means postponing or abandoning important life goals. On the other hand, embracing well-planned debt can open doors that would otherwise remain closed. 

It Is Better to Play It Safe 

Li Mengfei

A 39-year-old Chinese podcast host

With the Chinese New Year celebrations coming to a close, many young people in China are paying close attention to the direction of the economy. Amid concerns about slower growth and rising living costs, a more cautious financial mindset is emerging, one that prioritises stability over expansion and peace of mind over risk. 

For this generation, the appeal of living debt-free is growing. Rather than relying on credit cards or consumer loans, many young Chinese seek to limit their financial obligations and maintain greater control over their future. This shift reflects not only economic pressure but also a deeper change in how success and security are understood. 

Some entrepreneurs and professionals have adopted particularly disciplined approaches. Even when borrowing is necessary, such as for starting a business, there is a strong emphasis on repaying loans quickly and avoiding prolonged debt. The goal is simple: to live without the burden of financial anxiety. 

This cautious approach does not mean young people have lost ambition. Instead, they are redefining it. Rather than pursuing rapid expansion or short-term gains, many are focusing on sustainability and long-term stability. Saving and careful financial planning are increasingly seen as signs of responsibility rather than limitation. 

At the same time, this trend has sparked debate. Some observers argue that avoiding debt entirely may restrict opportunities for investment and growth. Yet for many young Chinese, the trade-off is clear: in an uncertain economic environment, the value of financial security often outweighs the potential rewards of taking on additional risk. 

Ultimately, the growing preference for a debt-free lifestyle reflects a broader shift in mindset. It signals a generation that is more measured, self-aware and determined to build a stable future on its own terms.