How you can consistently avoid falling into a debt trap

Recently, a social media group post ignited a lively debate that drew all manner of responses. The social media user had been listed by a Credit Reference Bureau, and was musing about how the negative listing, other than putting him in bad books with lenders, had made him live within his means.

Another social media user in a similar situation weighed in, saying how he took loans from different mobile apps and got financially ruined in the process. When one loan was due, he would take another from a different app to settle the pending one, and this cycle continued until recently when he lost his job, leaving him unable to service the accumulated loans.