One of them is this, let's say you have 100k saved up at an annual percentage rate of say 10%, and then you spend 10k say on a new car "on credit" at the end of the year you wouldn't have spent any money out of your original 100k, you will have a new car and life goes on.

But one wouldn't even be offered that much percentage in the first place in Nigeria.

I am sure there are also lots of cons but the important thing is learning to balance your finances the best way we can.

Knowing Nigerians and their attitude to debt, hmm, finding that balance is hard.

Paying for a property/service at once sometimes could be hemorrhaging to one's finances, that's why we hear stories in Africa like "because your sister got into the university this year you would have to wait till I can get back on my feet" or "I can only send a son to school". Lack of financial flexibilities has made us seem stupid.

If one can find the balance, living the credit life is easier. You can carry on with several plans at the same time.

The story about that woman is so sad.

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