How Can Debt Affect Me?

There are numerous ways with which you can be affected by debt and it is up to you to manage yourself well in the crisis situation. But as a person sitting in some other part of the world, I can certainly say that people take debt only when they are in acute need of money and if they use the money to its best use, they cannot be in trouble of debt. But some times people lost their way some where in between and unable to repay their debt. If that is the case with you then certainly you are in trouble as it affects you not only financially but also gives you mental stress.
      
So my advise to you is that avoid taking personal debts and if you are taking debts related with your business, use it in such a way that it gives you the return with which you can repay the debt and garner some benefit for yourself also.

My quick and friendly answer to your question is " do not borrow more than you can pay." When you borrow money, that means that you just bought yourself a brand new commodity that you have to pay religiously every month without being late until it's paid off, however you will use the money.