Business Debt by any other name is still debt. While financial literacy flounders, lenders are finding new ways to disguise debt. The emergence of debt disguised as purchasing items on account, fee paying credit cards to recent buy now pay later, all seek to seduce the borrower into unaffordable business debt. But who is actually paying?  There is no such thing as a free lunch. The new generation of business borrowers are being lulled into a false sense of being financially savvy.  Perhaps they are better than their predecessors. Or perhaps the cost of the benefit is actually hidden in the overdraft price of credit. If business owners do not have the money to purchase outright, then it is important to prepare a budget, rather than kick the can down the road.  There is always another can when you get to the one you kicked. It pays to conduct costs benefit analysis when getting into business debt because debt is a product of the future and one you have no control over. One can end up paying twice the interest or sell the business asset to repay the debt. Business loan refinance can be tricky. Farm loan contract terms are a good start when preparing a budget or a cost benefit analysis.  Did you read all the terms? A business debt consultant can assist in choosing the right finance for your farm So, when entering into any type of arrangement for future payment no matter how attractive it is always best to go into it with your eyes wide open. Don’t be trapped by wolves in sheep’s clothing. They often mention the great benefits you get out of borrowing but don’t mention the cost and risks involved in business owners being in debt.