LET’S assume a man has an income of $2000 per month. Let’s further assume that his income dropped by 50 per cent – he now has to manage on $1000 each month.
What would he do? Well, the logical assumption is that he would cut down on his expenses and manage.
Only a fool would suggest that he keep spending at the level he was when his income was $2000, and pay for it by borrowing.
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