Jack’s Empowerment and Inspiration: 62. DEBT MANAGEMENT - Jack’s Japa Empowerment - Nijaa Diaspora Empowerment - Baba Londoner - Empowering Immigrants

Saturday, 9 August 2025

62. DEBT MANAGEMENT - Jack’s Japa Empowerment - Nijaa Diaspora Empowerment - Baba Londoner - Empowering Immigrants - Jack Lookman

62. DEBT MANAGEMENT - Jack’s Japa Empowerment - Nijaa Diaspora Empowerment - Baba Londoner - Empowering Immigrants - Immigrant Empowerment - Jack Lookman - Rita Nnamani - Olayinka Carew - Japa Empowerment - Empowerment And Inspiration - Nigerian Immigrants - Empowering And Inspiring Generations - Nijaa To United Kingdom - Jack Lookman Limited - Nijaa To London - Baba London - Japa

Debt in the United Kingdom can accumulate quietly before exploding dramatically. From shop cards to buy-now-pay-later plans, to credit cards reserved for "emergencies," the system is geared to encourage borrowing. But don't be fooled: this isn't free money. And, regardless of how long you've lived overseas, debt may pull you down if you don't manage it. What is the worst part? Many Nigerians living overseas are broke, not because they don't work, but because debt is eating away at their earnings.

Jack’s Curated Business Ideas

The first error many people make is believing debt is normal - "everyone owes something," right? Wrong. Not all debt is created equally. There are two types of debt: productive and consumer. Productive debt can generate income or create long-term assets; like a mortgage or a small business loan. Consumer debt, on the other hand, is what consumes your salary with no return—credit cards, payday loans, and hire purchases. It is not worthwhile to incur debt that will not be repaid. The goal should always be to reduce or eliminate this type of liability.

Being Organised

You should also grasp your rights and duties. Many immigrants are terrified of debt collectors, but hiding your head will not fix the problem. Official mechanisms such as debt relief orders or Individual Voluntary Arrangements (IVAs) allow you to legally negotiate payment conditions, freeze interest, or even write off unaffordable debts. Ignorance is more deadly than debt itself. So, face it, document it, and devise a plan to get out of it.

Jack’s Undergraduate Empowerment

Don’t let shame trap you into silence. Talk to financial advisors, use free tools like StepChange or National Debtline, and create a clear strategy. Consolidate where necessary, prioritise high-interest debts, and most importantly, stop borrowing to survive. A debt cycle is like quicksand. The more you struggle without direction, the deeper you sink. Break the cycle. Downsize temporarily if you must, but free your mind and your money.

Jack Lookman’s Social Media

Great International Money Transfer

Thank you very much for your time.

This is Olayinka Carew aka Jack Lookman signing off.

Ire o (I wish you blessings)

Ire kabiti (I wish you loads of blessings).

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Thank you for your contribution: Rita Nnamani

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