Bitcoin Forum

When you're short on cash, it can be difficult to quit borrowing money.

Everyone has been there. We're short on cash and in a lot of debt, but a cover loan to get out of the red and even improve our readiness is the light at the end of the tunnel.

Blissful days? Sadly, no. It all comes down to the straightforward, yet frequently misunderstood, formula that says borrowing more money equals more debt. It is more difficult to return to black the more debt you accumulate.

The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing money. Simply put, incomings are outpacing outgoings. It's also getting worse.

More than at any time in the past two decades, millions of Americans are spending more than they earn. Spending on credit cards, the most common type of personal debt, is estimated to be rising at a rate faster than at any other time in American history.

An unnecessary debt actually equates to having more financial troubles, there are many that can’t coat their wants  in shape with their wages mostly because of the class they belong to. But there are others that actually borrow money for critical needs or situations that their savings can’t really cover.

 Also there are many businesses that have been built through loan or grants and they went all the way to been successful. The only way loan or borrowing isn’t advice is when it is done to acquire material stuffs that are more less liabilities rather than a source of income or a means to save ones dear life. Otherwise loans aren’t all that bad

In my opinion, it's not bad to take a loan as long as we know how to pay, the only bad thing is that we don't know how to pay, the second reason is that other people are because the debt becomes a vice even if we say that we can pay the debt but it is already manipulating the borrowed money because it just goes to things that don't really help them.

   That's why it's good to borrow if it's used in a way that can produce money as well or be used in a business that you want to do.
 Because every country in the whole world is able to borrow.

Borrowing is not a bad thing in and of itself as long as the borrower knows how and when to repay it. Problems begin when borrowing begins. It represents the only solution in every crisis, because it must be a circumstantial solution and not a strategy to postpone getting into trouble. There are businesses based on borrowing, but they have their own strategy that cannot be applied to individuals.
Personally, I have to borrow from time to time, but it is always for a short period and small amounts that do not exceed $2,000. And I do it when I can't find an alternative solution.

Just watch this, How Debt Get You Rich | Robert Kiyosaki (https://www.youtube.com/watch?v=tzxNtQpDN7I&t=184s).

See, borrowing isn't bad as long as you know how to manage it and I did the same, I have also a debt but I manage to become wealthy someday.
Because I believe that debt can be a tool for creating wealth, it's important to approach it with caution and only take on debt if you have a solid plan for using it to generate income and grow your investments.

I realize that it would have been smarter to only borrow money if I had a clear plan to use it in a way that could help me make more money in the long run, such as starting a business or investing in a property that generates profit.  Borrowing for things like vacations, entertainment, or non-necessary purchases is generally not a good idea and can lead to unnecessary debt.

Most people are in debt because they want to please other people. Some people are very competitive that they want to buy what they can not afford because they want to look like others. I have seen people take loans because they want to have a lavish wedding or birthday. The only reason one should borrow might be because of emergency or critical needs. One might decide to borrow because there is no money to but food or pay for certain basic needs such as housing, etc.

 
Taking a loan to start up a business might not be bad advice because a good venture can grow and bring profit. But it might not be the best option because business is risky. If the business fails to pay back the loan might become a problem. Many sound businesses were started or expanded using loans or other credit facilities, but many failed and put their owners into debt that they can't afford to pay.

Borrowing is sometimes that we ordinarily don't want to do, but most of the time it's just the only choice that one has. Let's say, for instance, that you are in need of medical refills and you don't have enough money at that time, but at the end of the month, week, or day you are expecting to receive something for work that you have already done. At this point in time, you need to borrow money so that you can pay your medical bills, and then when your wages and allowances come in, you settle your debts. This kind of borrowing is encouraging.

The kind of borrowing which is a bad habit and contributes to the economic downfall of a nation and the financial instability of a person is when an individual borrows just to satisfy his casual, unwanted, and pleasure, like when you don't even have any source of income, where you are expecting money from, and because you want to gamble you went ahead to borrow money. That kind of borrowing is sometimes not encouraging, and we advise anyone who really wants to make it far in life to stop.

This is impossible, OP. The inflation rate is growing day after day, and it's so bad in some countries that even with their salaries, average citizens of those countries where inflation is high cannot even completely fulfill their basic needs with their salaries without having to take out loans. OP, it's really not easy for some people. But the best way to help their situation so they don't incur a lot of debt is to always make a good financial plan and budget for themselves so they don't spend what they didn't really budget for. Even some wealthy people still borrow to add up, and that's when the money they have at that moment cannot completely cover what they intend to do with it. Even some SMEs (small and medium enterprises) still borrow to support their business.

(If you are not in a survival situation) Only get into debt to buy tools that are reasonably expected to increase your productivity which would help you to increase your income, pay your debt and be better off at the end.

(If you are in a survival situation) Ask for help, avoid getting into debt as it will spiral you down the debt hole.

(If you are getting into debt to consume) Clearly define your minimum needs to be well off and happy enough, avoid any "status" consumption, learn something new, acquire some skill that someone is willing to pay for, create something, offer something of value to your virtual o local community (hopefully bitcoiners) and try to live by your means, gradually increasing your minimum needs to be happier. Live slightly bellow your means, and you will always have something to save or spend in superfluous things. Keep yourself a sovereign individual  ;)

It's okay to borrow if you intend to pay it back and need it. Sometimes it's necessary, but you shouldn't make it a habit like you will borrow to pay another debt. It will be a never-ending cycle that you will not stop doing until it affects your life and go into some parts of your life. It will manifest somehow.

Unless you borrow for asset purchasing that could generate income, that's one of the best things you can do when borrowing money. Make more money with it.

When credit cards were first introduced, it only took few months for all those creditors specially who has a debt for no particular reason had spent their lives in misery. Personally, I cannot afford to have a debt specially I don't have a big reason to. Aside from that, I didn't have that much income in order for me to receive loans or decide getting in debt. In our country, it is much difficult once you get inside that non ending cycle of payment, every month you'll get exhausted by only paying those interest leaving nothing on your salary. I have seen so many people on my neighborhood doing the same thing over and over again, and to add more salt on their wounds, even if you say that by living below your means will somehow help you, to be precise, no coz sometimes the most basic meal you can afford is already equivalent to an expensive meal. The primary problem in our country is due to lack of financial support and management in farming areas which makes the basic necessities like vegetables very expensive. In this regard, most victims of those non ending cycle of debt are farmers due to lack of capital for their farms, and usually all our goods are imported out of the country.

I also understand that getting in debt is not really a wise thing to do, but there are some circumstances that this is the only solution they have in mind in order to survive.

Borrowing is not a bad thing, what is bad is borrowing beyond your means and also not knowing how to pay it back. Borrowing is the last solution if there is no other solution and it is supported by having the ability to pay or having a steady income such as having a job and salary, and this can repay the loan according to the agreement.
and borrowing to create a business, asset or for any investment it is a good option in my opinion, as long as you choose for a profitable purpose and have knowledge and so on among the goals I mentioned earlier. And still have to have income or salary to be able to pay it and also borrow according to ability.

Borrowing as it is has its own consequences and excess of it is not what i fancy. Borrowing when you have a remedy or pay back plan is ok but when you are hoping or depending on a means when you are not sure of it is very much not alright. I believe most times it is not as a result of satisfaction people borrow but at times they encounter emergencies which results to their urgent request for financial aid or assistant to solve their problem immediately.

Borrowing  in terms of setting up a profitable business is not bad. As long as you have set your repayment plan depending on your terms and conditions, it is aright to go with as the business venture for which the loan was taken is profitable enough to repay the loan, running cost and every other financial commitment to service.

A lot of people are also underpaid, that's also one of the very first reason why debts are inevitable. This has been always the case here in my country. Workers were underpaid and they work 8 hrs or more for 6 days a week, leaving them no time to look for another alternative/side hustle to earn extra income.
Borrowing isn't always bad, because some people just have no choice in order to survive.
Rapid inflations and slow salary increase are also one of the reasons.

Yes, I admit it, but it still depends on you, If you able to manage it, you can be a free man without debt. I have experience with lending when still have a credit card. That such cards where always bring me to lend anything I want, but after that my bills are piling up, and Almost can't afford it. The best solution is, close it.

It's the same like today, If I have cash, I will spend for unnecessary purposes, so extravagant, because of that I keep it in bitcoin, and store it in hard-to-reach places, so when I want spend for unnecessary purposes, be shy to do that.

when people take out a loan. they have to then put money aside from their limited income to repay their loan ongoing afterwards. meaning they have to waste less money to afford the repayments

people need to pretend they already have a loan and put money aside to save. pretending they are making repayments where instead they are actually accumulating savings. thus then not need a loan because they have accumulated savings

dont just spend your money and then say its ok if my household items break i can take out a loan because i can afford the repayments.. instead act as if it already broke to get your mind into putting money aside as if you are repaying a loan but instead saving that money. so that when it does actually break the money is there..

if you want to invest that money to make it self accumulate to more value to speed up the benefits of saving. put it into assets that are at their LOW. dont invest in things that are highly priced compared to recent history buy low to then sell high

bitcoin is at a low compared to its 2 year history, where as gold is at a high. so best bet is buy bitcoin not gold right now

 Borrowing money from bank or somebody to feed your stomach is not good but you can borrow money to improve your business, which is advisable but ensure you work hard to pay back the loan so that it will not cause more trouble for you in future. I will not advise anyone to borrow money to invest in Bitcoin or cryptocurrency, because Bitcoin price is unpredictable which the price can pump at anytime to help people to get what they want at the moment, and it can also dump to make people hold more than a year to avoid lost. Just invest the little money you have now on Bitcoin than to borrow Because borrowing will never give you peace of mind whenever the price is low in the market.

Being in debt is the American Dream. And been that way for a while. Fueled with cheap money and near zero interest rates why are you surprised.

The latest generation has never learnt what a high interest rate environment means. Last time rates were high was 20 years ago and most back then we’re all going to remember. Now people got a little overboard with their debt such as housing debt and auto loans.

I don't know if you're being sarcastic but that's not the American dream.

What Is the American Dream? (https://www.investopedia.com/terms/a/american-dream.asp)


The problem in its version of the last decades is that the dream has been fuelled by debt. The US has been exporting its dollars which have been used as a global reserve and in return has been able to consume many goods and services that it did not produce, something that is beginning to change.

On a personal level, getting into debt is not always negative, it is negative for consumption, which is what most people get into debt for. On the other hand, borrowing to invest can be reasonable and provide leverage, making it possible to reach goals more quickly, and many companies do so.

I can understand if the person who is borrowing money is someone who is really desperate, and indeed the economic situation is really down. people with a background like this are understandable.

but what happens if people who are well off still borrow money. not a few rich people, but have a sizable debt, it may result from increasing their business capital or when opening a new branch of their company. it's all still understandable, because this is a business matter.

but what if there are people who borrow money just to look stylish with expensive clothes, expensive food, and luxurious vehicles. this kind of thing is not exemplary, it's no longer a waste, it's more than a waste.
and all of this must be avoided by everyone, if you do not want to be in debt. because don't let pride lead you to misery. just enjoy what is there, don't force it if you can't afford it.

Many people saying borrowing a money isn't a bad thing as long as we can manage it, but if you have a choice it's better to never borrow any money and looking on the other way to get money. Some people can't manage their loan and anything can happen outside of our plan in order to repay the loan, so it will increase the risk you will fail to repay back your loan.

I think even people are working and get paid lower than the average salary, they can still survive without need to ask a loan, it's just a matter of their lifestyle.

Borrowing to spend is bad and a disgusting habit to have as an individual, borrowing to spend can only leave you in debts. We have to learn to spend below our salary. Your expenses should never be above the income you generates and if you want to spend more then you improve yourself so you can earn more and that'll reduced your rate of borrowing money.

While borrowing to spend is wrong but borrowing to invest in yourself or your business isn't wrong. If you can stay away from borrowing entirely, that'll be great but if you can't then the only time you should be borrowing is when you want to invest in something that'll generate income for you and can pay off the debt.

If I want to, I prefer to avoid loans because we know that loans have extra interest, but for someone like me, whose salary rate is too low, it is really necessary to borrow money to use in online businesses. It is better to think first if there are things that need to be financed or if there is a lack of capital for the business so it is necessary to take out a loan. Be smart in using the money from the loan, it is better if we use it in businesses or earnings so that we can return the money we owe sooner or at the right time.

The problem with loans is that they are made to fulfill a lifestyle, not for emergencies or for activities that can make us benefit from it, for example by starting a business, because not everyone has the ability to finance their business from the start, they need a loan and the loan will be a production loan because you will get profit from the business being run so you will be able to pay off the debt.
Currently, there are many applications that make it easy for people to borrow, even marketplaces provide pay later so that it will make it easier for people to shop using this feature and lose control because they have spent beyond their means and loans like this that must be avoided are not productive loans.

Borrowing money is really a burden, but if we don't have a better solution, borrowing is not so bad, as long as we control it well, there will be no problem. I used to borrow money because my business failed and that was the last solution I could do, it was very difficult to pay interest and principal but thanks to that loan I solved a lot of things when my business failed. If I didn't have that loan, I would have sold my house, so it can be said that a loan is not too bad in some cases.

You are correct at some point, because we get into trouble when we spend more than we earn and think we can pay it off in the next pay, which means the cycle continues because you will be short that time. Though there are really others like poor people who borrow money, it's because their source of income is not permanent, like when they didn't earn anything and had nothing to eat, so they needed to borrow money to buy food. But again, if you earn money the next day, for sure it is not enough because you need to pay back your borrowed money.

Let me say that anyone who is in need of loan for investment is not hundred percent right and its not hundred bad, it depends on the level of your income to pay back when the investment is not favourable, I can advice someone to pick up loan for investment but I will ensure that you have to pick up a loan you can return without the investment you want to put the investment directly to, so therefore I believe that loan can help to elevate someone when theirs profit and loan can make someone to back to the root one. So check your income before taking a loan

If you are borrowing for business, it is not bad but make suy the repayment shouldn't be long. Don't keep the loan very long, but if is for personal use then I will not advise you to take the loan because it is bad. And also you have to cross check your business income before embarking on the loan. If your income is not good enough then you don't have to take it.

The temptation to borrow money is currently increasing, if 10 years ago people had to use collateral to borrow money but now only with an identity then we can easily get a loan quickly, but we must be able to hold back our emotions so that the loan doesn't make it difficult for us.

There is a good debt and bad debt, so it is really depends on you on how will you identify a specific debt. I'll give you a fine example: There is a situation that I want to make investment because I saw a big opportunity that can give me huge returns in the future and the problem is my money is not enough, the only way for me to have that money is to borrow money from the banks or from someone else. That situation is considered as good debt because it is a debt that can give me returns or profits. It can generate cashflow that can increase my income and can help me to achieve my goals. Capitalists, businessmans and entrepreneurs are using debts in order for them to save taxes wherein they can make more profit in their businesses. Let's go with the bad debt, I'll give an example of a bad debt. The situation is your friends invited you to a beach outing or some drinking night but you do not have money in order for you to participate in that kind of event, then you suddenly remember that you can borrow money from someone else in order for you to go in that event. That kind of borrowing is a bad debt, a deadly debt that will lead you to more sorrow and suffering. That kind of debt is something that we should avoid especially if your goal is financial freedom. Always remember the consequences that you can get by borrowing from someone else and use it in a bad way.

Monies borrowed should be put into good use that are capable of generating additional money.
It tends to be useful to make an arrangement for what will befall your cash in the event that you become more sick. For instance, assuming that you need to go into clinic or on the other hand in the event that you really want another person to bring in cash choices for you. Having an arrangement could assist you with having a solid sense of safety and in charge. One of such things you could do is that financial plan and reserve funds calculators can assist with keeping your spending on target. Or on the other hand they could assist you with saving on the off chance that something occurs from here on out, for example, expecting to go into medical clinic.

I think using credit cards can be very beneficial ininflation countries (Eastern Europe etc.) but using credits is definitely damaging task. If you borrow to spend you probably shouldn't do this beyond your monthly wage! Like never ever. In certain scenarios you may not be able to pay for it and your debt may be extended in absurdly high rate. I tend to use borrowed money through investments. I believe its one of the best methods ever, investing into bitcoin may be considerable even. But always, I feel sad cause, being indebted is uncool.

Taking out a loan to finance projects (not to buy luxury) isn't a bad idea. However, we've come to see that most people default on the loans they take because things don't always turn out the way envisaged. Nobody likes to be embarrassed by their creditors because of a loan default but then it's what it's. Shit happens, and then it hits the fan to get worse. Has anyone noticed that the act of going to take a loan even humbles one? That's why at the point of asking for a loan, the borrower often speaks in subdued/hush tone as if they were dying 😆, even if they're asking of it from friends. But wait until when they need to repay it but can't and their voices go loud.

Borrowing is not really bad if what you are borrowing it for is something that's worth it... Just don't borrow because you want to satisfy your wants. Borrow when it's necessary and that's the only option that you have. Business, tuition, and some other essential needs are things I consider worthy to borrow money for.

If you can't or have difficulty repaying a loan, don't borrow because it can make it difficult for you. It's better for you to live simply and not overdo it than for us to have problems living our days. This must start with daily financial arrangements so that we can provide for our life needs. Don't spend on something that is not a primary or secondary need or that you don't need because it can interfere with your finances.

Usually, we become consumptive when we follow other people's lifestyles, where it will be difficult for us to manage finances from our income. But if you are sure you can manage the borrowed money well and can even expand it, you can try borrowing money. But everything must be calculated based on your income because that's where you must repay the loan.

Borrowing is not really a bad thing, but borrow for somethings, like drinking, flexing, or borrow to pay another credits, it's will lead you to debt. But if you borrow for business or investment that will bring income, there is a situation that you want to make investment or business, because you saw an opportunity an investment that can give you huge amount in return in the future and the problem you is money, maybe the that is in your is not enough to start the investment or business, the only way for you to have that money is to borrow money from someone else.to start the investment or the business. There is situation that your friends invited you to an outing or some drinking or night clubs, but you do not have money in order for you to participate or spend in that kind of event, then you suddenly remember that you can borrow money from someone else in order for you to go in that event. It's will lead you to debt.

Borrowing is not entirely bad. It could actually be good, but it has to be a last resort kind of thing. It is there as a final option, something which you will only do because you have nowhere else to go, no one else to turn to. But when borrowing is done merely for the sake of feeding our consumerist souls, then it is certainly bad and something to be avoided.

In my country, many are trapped in loans, unable to get out of it for many years. The working class mostly. Once they take a loan, it means a significant portion of their incoming salaries will not be full anymore, which also means they will need to borrow in order to survive until the next payday. The cycle goes on, that's why borrowing should be avoided if possible.

Human lust exceeds reason in living a simple life and income ability will affect expenses when a loan is taken on an unneeded basis. The solution is to avoid loans and use money as needed for important needs, there is no reason to take a loan if it is not for business development and even then it is done through careful consideration.

Not only in America, almost all countries experience complete conditions, spending more money is not at the stage of necessity. Taking a loan of any amount will affect the level of ability to pay off, if today you take $ 5000 then to pay will be far more than that, not to mention talking about money that continues to decrease in value.

So that $5000 today will be different from $5000 in 10 years in the future, the difference is not in the price but the value of the $5000, thus making the loan even more problematic because the debt to be paid exceeds the initial loan taken out.

There is a very big difference between borrowing for an investment or for a business and borrowing to survive.
You only borrow to acquire an asset that will give you money in the future. You don't borrow to acquire a liability.

So many rich men today depends on borrowing, they meet the bank and other financial institutions to borrow the money that is being deposited by the poor and then multiply it in the name of business and investment. That is a very good life to live, but if someone is leaving extravagantly and begins to borrow money to match their excessive living, that is a very bad habit.

To be honest, I don't like borrowing money from anyone, not even from banks, although I know I would pay it back with actual work or anything else. It's still risky, so I prefer not to borrow at all. However, sometimes in life, you may be in dire need of money or in situations where borrowing is the only option. In cases of medical treatment or other serious situations, it's understandable to borrow money. But borrowing money for things that you can't afford to wait for is not something I see myself doing.

Oh boy, the classic problem of being broke as a joke. Borrowing money may seem like a way out, but is it? To be honest, the last thing you wanna do is put yourself in a deeper hole of debt. Why not get creative with your funds instead? Have you given cutting out some unnecessary expenses a shot? Maybe give your daily Starbucks fix a break or whip up more grub at home. You'd be surprised how much of a difference those small adjustments can make. And if all else fails, there's always the trusty method of winning the lotto, amirite? Just joking, but seriously, borrowing dough ain't the best option out there. Don't fall for the short-term relief it can offer, be cautious and stay on top of your moolah game!

Good point about health, did not consider it on my answer,  but in general only borrow to buy tools or in a survival situation. Else wait, or increase your productivity with more skills, knowledge, network or tools.

One should check his expenses from the start and try to avoid borrowing to an extend because that's literally add up to your worries , their is no relief in borrowing as when you have to return the amount that is more tough task and xauses more financial troubles for you either its interest or any other benefits.

When the load in man overcomes his income it boils down to borrowing money, why? Because people don't usually live at their expected earnings than living higher life and to keep debt on their records. These includes; ¹ those who have refused to limit their child birth, the cost of taking good care of two children won't be the same as to those who already given birth to Five Children meaning it makes life very difficult for the man as the head of the family. Living expensive life while your income is below such life which includes; ² consuming expensive alcohol and clubbing, ³ Living in an apartment that are 50 percent of your one year salaries also brings you into borrowing and ⁴ lastly dating an expensive girlfriend, expensive girlfriend meaning a woman that frequently demanding from you even when she knows your salary is below what she's requesting from you would also lead you to borrow money to please her.

As a MAN or WOMAN you don't have to live a life under pressure that you can't control yourself and your income, any one who could stay away from all this could definitely stops borrowing and will live a debt free life. NB everyone earning must not be the same, draw your clothes according to your size.

Taking a loan is indeed one thing that must be avoided. but for some people who really have urgent needs and there is no other way, borrowing is like a solution at that time. but yeah another problem will come later. what we have to do is we have to be able to measure our personal finances. even if forced to take a loan, it must be adjusted to our income, that is, we must know to what extent we can still pay. and if it feels beyond our ability then it is better to avoid it. this is where it's important to always set aside money for backup plans and emergency funds. so that when we need money urgently we can avoid loans by using an emergency fund.

It's a good thing to get oneself determined in taking a step, borrowing is a bad habit except in some cases where it becomes inevitable, we must learn to live a life of ownership, work hard in getting our own things, though it may not be that easy at the start but it's worth it, if you're used to borrowing things from people, you may not have the opportunity to get to work things out for having your own except by grace.

Most times people don't intentionally live beyond their means but rather the society and situation around them make them do so..
I felt so guilty when I saw this post because I've been in debt lately and it haven't been an easy one and I even got duped on paxful during a p2p trade while withdrawing my Bitcoin and I felt it was the end for me because all my hope was pegged on that money but at the end I give glory to God because I moved on and even payed the loan and took another one to be able to meet up life's demands.

@Op I guess you haven't been in a situation where you have no other option but to borrow and worst of all is even when you're ready to borrow, you wouldn't even find anyone who is willing to give out the loan at that very moment, so you should be thankful for such a life..

I also understand that some persons also live restlessly above their budgets and end up in debts and loans but I want to say that not all as there are persons like me who have 6 other siblings who depend on me for their needs irrespective of the country and recessive economy.

In conclusion, we have better knowledge and idea of what to do but there are persons like me who lack the capital to start up something and we're saving to be able to meet up every life's demands and still run a charity foundation with all source of funding from my personal pocket as a Farmer.
Give me capital and wash me grow an empire.

For some people that doesn’t care about excessive finances. They are use to borrow money and pay once their salary arrives every month. I think it’s ok to get a loan if you have a means to pay it back on time without paying some penalty.

But most cases, People is borrowing because their expenses is greater than their salary. Not that they are not checking expenses but their economy put them on that tight spot. Some country has a low income rate while cost of living is very high. People has no choice than to get an extra credit line to support there daily needs until they find a better job to pay all the loans and live debt free.

There is no problem taking a loan, because it is customary for us as humans to do it, the most important thing is that we have to be good at managing it and what the loan is for, for example if to increase your business you can add capital and income, this has often been done a lot people, so we have to know as we should manage the governance to return it every month.

There are many people who default on loans because they cannot manage them properly or someone personally uses the money to fulfill their needs, so this is the wrong thing for us to stay away from bad character, often I see around me they fail to pay loans because they only want their own satisfaction after getting the loan money.

While you can still generate a better income and that is sufficient then never apply for a loan.
Life will be calm without loans.

Borrowing money is something we usually do, in life of course not everything goes according to plan, sometimes sudden costs often occur especially if they have a wife and children, as long as we have the will and ability to pay then borrowing money is not a problem.

You cant quit borrowing, otherwise how will the banks survive? ;D

Seriously though, we all need money in times of emergencies which is what borrowing should be kept limited to. No wonder the need for this has gone up and hence the influx of payday loan apps on app stores and its complications and consequences.

I think from a trading perspective, playing it safe with limited borrowing is a good habit. But for the real life spendings, we cannot completely be debt free.

Another name for borrowing is loan. The rich in our society today didn't become rich from thier own savings. They at some point had to take loans from banks or other loan sharks in order to foot their business ideas.
How else do you think entrepreneurs survive most times?
Where borrowing is bad is when there is no concrete reason for such cash, other than spending.
If for emergencies cash is borrowed, it is reasonable. If cash is borrowed and invested, it is also reasonable. Mind you, investment can come in different many forms.
I do not borrow is it ain't necessary, but if I must to avoid embarrassment, I will borrow, but not above what I can normally afford.

Borrowing money can get you out of the financial troubles you are facing, but you may accidentally get caught up in another problem. Borrowing money from friends, relatives or close family might be able to help you overcome financial problems without having to pay interest. if you borrow money from moneylenders it is not a good solution for you, the consequences will be very fatal if you fail to pay off the installments at the appointed time.

You need to manage your finances wisely so that you are not in debt, spend money as needed, and you can use the rest for other unexpected needs. Arrange your finances according to income, don't get caught in digging holes to close holes for borrowing money to pay off debts.

Borrowing is a dangerous deal when people do this to pay a pending bill, for an example. Many people on this situation enter an endless cycle of new loans to pay previous loans, continuously, until the interest rates become so intense that the person can't continue doing this anymore. After all the pending bill becomes much more expensive than the initial one, which lead the person to borrow money for the first time.

Unfortunatelly not everyone have family and friends who they can count on to take some money borrowed, so their only alternative is to appeal to a bank or loan shark. The fact is that such deals are only advised if the person is borrowing money to invest in something solid, which can allow them to calculate how much they are going to make from the investment and how long it's going to take.

Such borrower behavior is very bad behavior, borrowing money to cover the previous loan. I also think that sometimes we need a loan at a time when it is really urgent for us, such as when we are in trouble or whatever happens to us, but it is a bad thing to borrow to cover other loans, and what is even worse is to borrow money to fulfill our needs style and style. I know wasting borrowed money to do things that are not useful and I think that is a fatal mistake in using borrowed money.

I totally agree that borrowing money is to expedite a business or buy assets and/or others that will provide us with income, that is the wisest step, I have also seen many people who are already rich do this to develop their business.

Yes, that's not a problem, but it's the beginning of problems that will come in the future. It will be fine when we still have enough income to pay off what we borrow, but are we sure that we will still experience good conditions? of course not. We cannot predict what situations will come to us one day. Sometimes we are too confident about it all, even though we ourselves don't know what will happen. I've seen people who go through this, indeed they are fine, but in the end they have to be really hard when something bad comes. We have to really consider it all before we borrow.

Borrowing is addicting if the purpose isn't being put into a good use. But there is what call, good debt and this is applicable for businessmen. It's not like you'll borrow to buy bitcoin, that's totally a wrong thing.

You as a borrower have already a good source of income and that will be your main requirement in borrowing, to get a better cash flow and to expand your business which seems to be truly profitable. The banks are going to allow you to borrow but with a limit and this is what business people are doing.

But if you're someone who's borrowing money to buy needs like gadgets, expensive travels and vacation and yet you're not earning that much. That's just irresponsible way of borrowing, yeah, YOLO and you deserve better but that's not the type of description of borrowing to me.

Borrowing is not a bad thing you may decides to borrow to sort out your problems mostly any health related issues need money if the person is not financially balanced, such people may decides to borrow and to fixed out their health after which they fully recover and get back their feet they pays back. There are some people who are deliberately subjecting their selves to borrowing money and is common within my country, just in the name to please people around them.

Just like every habit, borrowing can easily and quickly become one. Before you know it, you are in an endless loop of debt. It is easy when you borrow money from a family  or friend because there is no interest attached but when you borrow from external bodies you would have to pay some interests. This mean that you are pay more than you borrowed. This in itself would lead another strain on your finances and the result is that you find it difficult to stay be financially stable. To solve the debt cycle, sew your suit according to your size. Unless it is an emergency and you have tried all other means, then borrowing should be your last resort. I know some times it is hard but just try and look for a way to increase your source of income.

I never thought make loans some funds was bad for all cases, in fact you have to realize that many business people get loans but in reality they are very successful. What does it mean, if you are borrowing for the development of your promising business, then that is good, but if you are borrowing for the needs of daily living then obviously it is a bad choice.

I understand what the financial and psychological impact of a loan is, but not everyone will be in the same case. There are many successful businessmen because they get large capital loans, even though some of them also fail when their business is not running smoothly.

When they are in a state of financial urgency and they don't have savings or assets that they can rely on to meet their needs, of course, the short cut is that they will try to find a loan, maybe borrowing is something that is really not a good thing to do, but at this very important moment will have to be done, especially constraints in need or urgent needs, and they are fully required to have to calculate their loan with income, so that later they will not be constrained in terms of payment.

That high lifestyle can trigger the growth of debt what else is not supported by high income as you said income and expenses are not balanced. So the most important thing is that we have to be able to manage our lifestyle and manage our money properly so that we can avoid borrowing money that ends up being in debt with high interest. having a lot of debt makes life uncomfortable

At a time when people don't have money, debt is always the solution that most people think of when it comes to situations like this. Especially for those working who are not paid enough in their company, they are the main customers of the lenders because they mortgage their ATMs to the borrower.

      So the lender will only lose if the borrowers also lose. But this is impossible to happen, because all countries around the world are also borrowing money from other countries to survive the crisis they are facing in their country.

There are people who borrow money to meet unwanted needs. Mostly to show themselves high in the society. Such things needs to be avoided. On an emergency for life going for a loan or borrowing have got its value. We need to make perfect calculations and work on it to settle it at the earliest possible. With some people they easily borrow, but to return it back it is very difficult and this used to create problem between the giver and the taker. Always the best choice is to live with what we earn.

I also do not find it too serious, as many people say, if we borrow money to use for purposes such as business or for emergencies, as long as we have a reasonable calculation and repayment plan. Borrowing is normal. Since life is not always as rosy as we imagine, I believe that all of us, from childhood to adulthood, will have to borrow a few times in our lives. It's inevitable unless you have very wealthy parents.
Even more, people consider borrowing an incentive to help them aim and work harder. They prefer a life full of pressure to achieve success, not a life that is too quiet.

That is the problem today, and among other things that is why Bitcoin was created.

Above all, the problem is that it is normal to go into debt to consume. One thing that makes the difference between rich and poor, or rather between people with a rich mentality and people with a poor mentality is that the latter get into debt to consume, to impress the neighbor, because "I deserve it", YOLO and the like, while someone with a rich mentality either does not get into debt or if he does it is to invest.

well, for now, it seems like a natural thing. everyone's needs always increase over time, but not with income, that's why borrowing, or credit cards are the solution and the beginning of disaster. when a person lives with needs that exceed his income, he is likely to be trapped in debt. it would make him pay debt with debt. it can only be solved by stopping debt, increasing income with a business or side job, or selling valuable items to pay off the debt and starting over.

Debt has now become almost a constant companion of every human being. Rising commodity prices and unemployment have further fueled these debt levels. Moreover, nowadays it is said that no one is out of debt. Individuals or governments both are now running their business through debt. However, this debt can be seen in both positive and negative ways. If a person or organization takes a loan and is able to repay it within a reasonable period of time, then it will definitely be positive. Almost all those who have been identified as big businessmen in recent times are now running their businesses on loans. Here they are not taking loans due to lack of money. They are getting more opportunities in other areas by taking this loan. Moreover, they are also getting the benefit of setting up new businesses quickly through this loan.

Quit Borrowing? Why should I quit borrowing money.
Robert Kiyosaki is using debt to earn more money. More businessmen are borrowing money on the banks so that they don't pay taxes. Why should I quit borrowing money if I know that I can earn from the money that I borrow.

After all, it all comes to where will you use the money that you borrowed. We know that there are 2 types of debt which is good, and bad. Good debt is what businessmen like Kiyosaki are doing. They are borrowing money to earn more money thru their business. On the other hand, bad debt is a type of debt where you will use that money to buy something that you just want, and it will not generate any income for you as the borrower.

There's nothing wrong in borrowing money because I'm also borrowing money just to have money to invest. I can pay it monthly so there's no problem for me. Borrowing money to invest is a good thing while borrowing money to buy things you want is a bad thing. Don't say to us that we need to "Quit Borrowing" because it all depends on the use-case of that money.

If you are borrowing to live above what you earn, you are only putting up yourself for hardship spending what you do not have yet. If you are comfortable already living on your means but just require some sort of financial boost to for some investment or business that you are sure of, borrowing some money to help finance it can be the way forward. Some big companies that have assets borrow sometimes to finance projects, you can also so far you have a well laid out plan about how to pay back.

Well, well, well, folks, we've stumbled upon a debt crisis! But worry not, for I've got the remedy! Ready for it?... Drumroll, please... live within your means! Shocking, right? But, hear me out. If your wallet says no, don't buy it! Bonkers, huh?

But let's get real, borrowing cash to escape debt is like tunneling out of a pit. It's a no-go! The real ticket to debt freedom? Rework those spending habits, live within your means. Budget-making, sticking to it, snipping expenses. Trust me, your bank balance will worship you!

And don't get me started on credit cards. Sure, they're a breeze for buying, but they're debt traps, too. So, next time you're itching to flash that plastic, recall: no cash, no purchase!

Maybe the right term is: be financially responsible. I still borrow money, though on things that I know will give me positive returns and pay back the capital almost immediately. I do this on credit cards and from banks, but never from people whom I know or I trust. I never have had any problems when it comes to money that I need to have in order to live. I live below my means, and I only spend on what's necessary.

Most financially successful people borrow money to make more money, and that is a thing that I'm starting to learn. I don't borrow for the wrong reasons; I just borrow to make something out of what I don't have in the first place. If you come to a point wherein your finances and expenses are already doing well on their own, you'll have to soon figure out a way to make more money and not be bound by the ideology that borrowing is a bad thing.

Debt is not a completely bad idea, though it depends on the borrower, some people borrow money without a gold strategy on how to manage that money to balance themselves, and they end up doing the most stupid things with borrowed money, is it just me? I always find it hard to pay back when I borrow from someone, that's why I always make sure I borrow the amount that will be convenient for me to pay back, also I don't like borrowing money, because I will be in a panic, the fear of what to do with the money that's not mine will cover all my body.

I believe it is impossible to quit borrowing. We are surrounded with huge supply of everything. There are to many things around that everyone wants to buy or service to get. People will always want to have more, to extra, to have "that thing that other person has". That is why we will always be short on money (someone less, someone more, but minority will be able to resist spending for a short time), that is why imo people will always spend more than they have and continue borrowing.

As you said. that we do have to adjust the amount of our expenses with the amount of our income. that's why we have to do a financial evaluation every month to see the total amount of our income and expenses. and so that we can plan our finances better in the future. by carrying out a financial evaluation we can choose which expenses are not needed and this is also effective so that we become people who can save more. luxury lifestyle is a behavior that is not good for the lower middle class to follow. because our income will not be commensurate with the amount of expenditure needed to fulfill our desires which are always concerned with a luxurious lifestyle. it is better to live comfortably by living simply. so that we don't have financial problems in the future that can drag us into a loan.

Peer pressure in the society we live in today leads to young people taking on unnecessary debt that they cannot pay off because they live extravagant lives above their means. This lifestyle can sometimes lead young people to commit theft and other crimes in order to satisfy their desires among their peers.

Taking out a loan is beneficial, especially when the funds are used to start a profitable business.
Many organizations and businesses were founded on loans, and they are doing well because they repay their loans on time, while others have used loans to become self-sufficient.

Taking out a loan is not a bad idea, but what the money is used for is very important.

Borrowing is good and bad depending on the borrowers intentions, don't borrow to leave a rich lifestyle and to impress people. Borrowing is good when is being invested to something that would yield a good profit, it could be borrowing to open a business or borrowing to invest on something you're sure of will make profit.

Having a debt will only leads to more debts that's why borrowing will never be a good idea to begin with unless if its life and death situation. It is far worst to borrow money to invest in crypto, it will be a suicide wherein everything in crypto is very volatile and very unpredictable. I am trying to be a debt free as well so that I can have a peaceful life and stress-free as well.

Borrowing is never a good thing to do because none of us here can be financially secure and go out and borrow money; when you see someone who wants to borrow money from someone who hasn't given and is the only way out of your problem. Borrowing, for example, introduces many things to society, such as hard work and other things. Why I included hardworking is because when someone borrows money from someone else, he must work hard to repay the loan.
But now when we're talking about cryptocurrencies, it's not a good idea to borrow money and invest in them since it's quite risky because the owner might require the money if the market is down. Also, you won't make any money off of it, and you can even lose money.

Then what about people who borrow money to save their lives or their families? is that good or bad? I often find this among the lower middle class, that most of them owe to complete medical payments that exceed their ability to pay, so it seems as if they are trapped with interest when they are late making payments.
We know that borrowing money to invest is a good thing, but if there is no clear calculation between the income you get and the deposit payment to cover the debt, because if you calculate it wrongly it will make your finances chaotic too.

Its actually situational, just like on that case where it is emergency and they dont have saving they might really force to loan or borrow money. Borrowing money is not really bad especially when you are going to use it right. Just like the successful businessman that I know, he started his business with a little amount which he borrows to his friend. Now he's the one lending money to other people to help them start their own business as well. I just hope that people who borrow money are using it for good things that will help them to be financial stable in the future.

When handled responsibly, borrowing can be beneficial, but issues can occur when it becomes a habit or a way to deal with financial troubles. It's crucial to comprehend a loan's terms and conditions and to have a reliable repayment strategy. Different borrowing tactics may apply to businesses and individuals, so it's essential to approach borrowing with caution, taking out only small amounts for brief periods when necessary.

Good point, and in general people are overspending  on unnecessary consumer goods such as  unhealthy foods, clothes, electronic items…etc. In addition to that, they be following each other frequently and living the same lifestyle, that’s ridiculous. What’s the point of borrowing money when you spend them on useless stuff? That would make you drown with financial troubles.

In fact, it is intelligent to save or collect extra money and invest them on profitable stuff like lands , cryptocurrencies, gold, businesses..etc. That would make you financially stable depending on your strategy. For me, I would rather take risks by launching projects and investing in crypto instead of  following the sheep who satisfied with their miserable life.

I agree, borrowing money is not recommended, but it's not too bad either. I also once had to borrow a large amount of money after the business failed. It was a bad time, and it took me a long time to pay off that loan. I promised myself I would never borrow money again, but thinking back, without that loan, how would my wife and children live at that time? At least it helped me a lot when I had no other choice. As long as we borrow money for the right purpose, borrowing money is not too bad, we should not be too rigid if there is no better option.

I think Borrowing sometimes we need because there are many reasons such as needing fast cash and suddenly while there are no other alternatives besides borrowing, unfortunately now many people use online loan sites to satisfy their desires so that loans like this are not productive.

I agree with your opinion mate. In as much as it is not a criminal act to borrow it does not mean that one should take it into a habit. People borrow as a result of some certain things or engagement to sort themselves out but doing it when you have nothing at hand to commiserate with the borrowing is where the issue lies. For instance a businessman borrowing for his or her business is well understood that the business would yield profit for the repayment of the loan vise versa. Borrowing when you have no source of repayment can be very dissappointing and as such why loan givers must always demand for a collateral for the loan so they could get from the collateral what the borrower could not pay back.
In all, one should not get addicted to borrowing and if you must borrow, you must have a repayment plan to cover the time interval of your loan agreement based on the terms and conditions of the loan organization.

I said in the previous post, if the loan is made to develop a business that basically has income to pay monthly installments, then the loan is fine. But of course it's bad when you make loans for daily needs where basically you don't have reguler income, obviously it must be considered bad step because it will allow you to have difficulty in the process of repaying the loan.

So always be wise when you want to make loan, at least you have way to pay off the installments without any problems. Honestly, I have seen many people make bank loans for business development, they are successful and have no problems because basically they have regular income from their business.

I concur with you that borrowing money is not necessarily a terrible thing, as you noted, but it becomes a negative thing when it becomes a habit because if borrowing becomes a habit, you will always utilize it as a means of surviving .Many young people borrow money, and when they have multiple options for borrowing, they stop working hard to earn money.

But initially as I said in some circumstances it may not be a bad thing, like when you have emergency problems to solve and you have not option than to borrow, and you have means of paying back the money and I think the Idea may be welcome but still we should never rely on borrowing money to always solve our problems.we should always try and have some savings incase does emergencies.

there are many types of people when making loans, some borrow because of an urgent need that cannot be postponed and also some people make loans to make ends meet.
and many people certainly have the desire to stop borrowing but their insufficient needs are the main factor in making loans.

everyone knows that they will be in trouble after making a loan, but many people don't think about trouble that will come later, they only think of solving the problem in a short time.


I think the only way to stop borrowing is to work harder and earn more money, it has to be done before I think there is no other way.

It's all based on principles and disciplines really. If you think you are worthy of being able to take on a loan then you very well deserve one, but it doesn't go that easily. you also have to take into consideration the judgement of the people that you are taking a loan on. In any case, I stand firm in believing that you're stealing from your future self whenever you borrow money, but if it can't be helped can you really do something about it? So take out loans responsibly, pay them on time and don't tarnish your reputation to the institution or the person you're taking out a loan from. It's not enough to know that you can pay it anyway, it's very important to be dignified about paying it, otherwise you'd just postpone paying it until the bank takes the collateral or that friend of yours knocks on your door a little more pissed than usual.

By constitutional right no one is eligible to borrow money if such person doesn't have a means of paying back maybe working or have a shop and even a business. So those who go ahead borrowing people money is at a higher risk if they don't have a means of collateral or what to pay back, you know when a lender keeps imposing these laws to the borrower they will limit their rate of borrowing. So its actually good to save some money for emergency use only.

Finance can often be a neglected part of early education. You're taught numbers and all sorts of advanced mathematics, which you may not necessarily use later in life, but at least when/where I was growing up it was lacking information on things like credit cards/loans/mortgages/interest rates/debt. These can be large and complicated topics by themselves and I think they have started to trickle into early education now but there are generations who often had to work these things out the hard way. Even then, if you're stuck in a dead end job and see glamour advertised all around you on social media, it can dent your confidence and might cause you to borrow money. Society does make it hard to push back.

You're right mate. It is not a wise choice to borrow when we do not have a source of income to repay the loan. Of course it is very bad to deal with loans when we do not have a steady source of income, whatever the reason for the loan. I'm not taking gamble to say being able to repay a loan without a steady income, which will obviously add to the financial problems.

Loans are good in some cases, but not all will be the same. There are many people who have to give up their property to be confiscated because they cannot afford to pay off loans, this happens during really bad economic conditions.

If one takes a loan to start a business which could blossom to greater heights and produce another business, a loan to start a building project like a house where you live with your family or rent it out and get paid for it, a loan to sponsor your children through school who could be very successful tomorrow and reward you for giving them the best education, a loan to pay one's medical bills or that of a loved one. I really don't see anything wrong in getting a loan when it's used for a good course. But one thing I would not accept is taking a loan to invest in cryptocurrency.

That is true, I did that recently, had to take out a huge loan because I had to pay for something, otherwise there was no other option left. Not like all the people in the world get a loan to buy some items, or go to vacation, tha'ts not the case. I am fine though, I will pay that debt month by month and I should be fine, nothing should be a trouble for me.

However, that doesn't change the fact that I should be careful and not spend too much more. I already paid for my vacation, or at least half of it, and the other half will be paid in September. So I am looking fine, but that doesn't mean that I shouldn't have gotten the debt, it saved me from a terrible situation and thanks to that I am doing much better now.

Taking a loan to pay for something important that must be done immediately is not a mistake. because well it's true, in that situation even a loan can be a savior. but as long as you can also bear to pay off your loan bills then it will indeed be fine. I hope your income will be smooth and you can immediately pay off all your debts. and you also seem wise enough to manage finances so I don't think it will be a big problem for your finances. good luck guys.

I certainly agree that one should really stop trying to borrow as much as possible.  The worst thing you can do is just keep taking out credit cards, one to pay off another.

I want to offer everyone here a very helpful website when it comes to financial tools.  This site has quite a few financial calculators ..anything from "how much Life insurance should I have",  "Managing your month budget" but when it comes to borrowing and paying back debt there's two great calculators to help you out.. one is "borrowing from your employer retirement plan" ..this sometimes can be a very efficient way of borrowing if one must..versus taking high rate loans.

Also, there is a "investing versus paying off debt" calculator on this page that's very helpful.

If you're in need of financial help ...PLEASE utilize these great tools. https://www.empower.com/learning_center/calculators/index.shtml?_gl=1*1618gy4*_ga*NjQyNjE2MjkzLjE2ODEyNTYyNDE.*_ga_MDRRLSW4FM*MTY4MTI1NjI0MC4xLjEuMTY4MTI1NjI0Ni41NC4wLjA.#/

Borrowing in a state of urgency because of a need rather than a desire is not a problem, and afterwards we must return it immediately, so that it does not become a burden on our minds to work. We often encounter this kind of thing in our environment and it becomes natural, only the difference from them is between those who are responsible and those who are not responsible, so we underestimate debt, especially if we borrow it from individuals, don't let us be like that, because we are destined to live socially

Most people borrow money only for consumptive things like eating to restaurants, traveling, buying clothes and so on, it's time for us to stop this habit, borrowing money will make us lose money because we have to pay high interest, because almost all loans currently apply interest, The easier the loan, the higher the interest.

I don't think they borrow money for consumptive things, but they don't have a good money management. When they get their salary, they will spend most of their money for consumptive things first, without think how to survive in the next 30 days. After a week, they realized if they don't have any money and they will borrow money to buy foods. It's caused by consumptive things, but they're borrow money in order to survive.

Exactly mate and even earlier when I made a comment in this thread, I specifically stated that borrowing isn't necessarily bad but it all depends on the purpose for which one is borrowing and most times, some persons just borrow because they have access to loan and some other persons borrow just fir spending which at the long run isn't right..

There are persons like me who also borrow for medical issues and in one way or the other finally get the loan cleared  and most times, ones personal behaviour also determines how often he or she might borrow recklessly.

Loans are very useful for many people.  And without loans it is not possible to save the big mill industry.  Because one person cannot run a big company with only his savings.  In this case he has to take a loan from the bank. Of course, it is true that when one is in a pinch of money, he advances the loan and it is not possible for him to quit the loan. However, it is not only when there is a shortage of money that anyone goes for a loan. Many take loans for various purposes.  Such as tax evasion, concealment of one's savings etc.


Of course if a person has the ability to repay the loan then taking a loan is not a problem for him. Because the person taking the loan is also benefiting us in some way.  Because when we deposit money in the bank, the bank lends that money to borrowers and from there they take interest and give us some percentage of the interest.

everyone has different thoughts, and of course everyone's thoughts are not always right and that's also the case when deciding to seek a loan.
I was once involved in a convoluted loan, it all happened because I was concerned with lifestyle, so I decided to borrow money to be stylish.
it was a mistake that I now regret.

but in my opinion borrowing is not always wrong because sometimes we have urgent needs whether it is education or health matters which require us to seek loans and in my opinion borrowing for positive things is still very logical and not a problem.

The business too should be well-planned before taking out a loan for it, I've seen a lot of people taking loans for businesses that they have only just planned hypothetically and have no proper planning and nothing is really arranged at all. Such loans are always going to make one suffer when the time of repayment is near.

That is why it is essential for someone to first plan their business, make everything ready for the business to get started, and then get the funding necessary for the business to start. That way, they will know that they will be able to pay the loan back with the profits earned.

I think people that read the OP must've thought borrowing only occurs when you're short on cash and don't have means of income. Every successful company incurs some level of debt if their earning potentials are heighted as a result of incurring the debt. Having a bunch of cash around instead of investing it means you aren't growing, so it isn't inherently bad if you aren't sitting on a bunch of cash and need loans (especially if you have valuable collateral - the terms of the loan can be favorable).

I don't know if I'm the only one who doesn't like borrowing money, since if care is not taken this can turn into a habit capable of making you a debtor all through your life, which is very bad, and as such you simply can't save a penny, because you have no money of your own. And that's why It's always advisable for people to try to live according to their means at all costs.
However, there are certain things I feel it's okay for people to take loans for;
1. Loan for medical emergency (i.e involving life & death)
2. Loan for educational emergency
And not taking loans to do weddings or celebrate your girlfriend's birthday, which I see to be the most stupidest reason for anyone to take loan for.

Yes, now there are lots of loan platforms that are even without valuable collateral, this encourages many people to borrow because they are considered very helpful with the convenience they offer. But in reality they don't help at all and even that presents new problems in life. We have to really consider this, because otherwise it will trap us in the future. I personally would try to avoid that, unless I have no other choice but to do so. I will try and find other options until I completely run out of options.

There are some people that are addicted to borrowing, those people can not stay without borrowing. So even this warning from OP to them to stop borrowing will enter one ear and escape from the other ear. From my own personal research, the 95 percent of nigerian Civil Servants are heavily indebted by their various banks because ill payment to their services. Many of them use loan to build their houses and started paying loans throughout of their life too they retired in the service and some of them continue paying the debt in the retirement period.

Taking loan for medical reasons is not good and also taking loan for educational purposes is not good as well. One is advise to take if he or she want to use it do business. So that you can pay back without stress.

borrowing cash might seem like an easy way out when you're strapped for dough, but you gotta remember that it can lead to a serious debt spiral that's hard to shake. like you said, the more you borrow, the more you owe, and it becomes harder to get back to square one.
a lot of us live beyond our means, and that's why we end up borrowing in the first place. the media and society push us to spend more, and it's tough to resist the urge to get the latest gear or go on fancy trips. but that kind of lifestyle can get you into some serious financial trouble, especially if you're constantly relying on loans and credit cards.
and it's not just a problem in america – it's a global issue. personal debt is on the rise everywhere, and it's getting out of hand. that's why it's so important for individuals to take charge of their finances and start living within their means.
to get started, you can create a budget and stick to it. yeah, it might mean making some tough choices and cutting back on the fun stuff, but it's necessary if you want to avoid getting stuck in a debt hole. and don't forget to focus on paying off any outstanding debts before taking on any new ones.

another way to improve your finances is to explore other sources of income. you could take on a side hustle, sell some of your unused stuff, or start a small business on the side. by boosting your income, you can rely less on borrowing and get your financial situation in better shape.
to wrap it up, borrowing cash might seem like an easy fix, but it can lead to major debt problems. you need to take control of your finances by living within your means, prioritizing debt repayment, and finding other ways to make money. with these steps, you can improve your financial health and avoid the stress that comes with being in debt.

as you said that borrowing is a last resort when we don't find other options when experiencing an urgent need. The convenience of borrowing money at this time can indeed be useful for some people who are in a desperate situation and really need money quickly. but this convenience is indeed a lot of misused. namely those who take loans too lightly and they make loans just for fun like buying a new smartphone or buying new clothes and the like. which is actually not an urgent need. and they don't realize that trouble will come to them if they don't stop doing it. but for someone who understands financial management and has careful future planning, I'm pretty sure that person will avoid a loan.

No body become rich by borrowing, as even if you borrow alot of money, and look like you are rich, you become poor again as soon as the borrowed money is returned to the lender..

Borrowed money have destroyed alot of people, as well as businesses, the major cause of all this is, like the op said, people living above their means, wanting or owning things that they know they are not worth financially.

If peeps can listen to advice, and try all the can to live below their means, that is spending far less than you earn, we all would live a better and happier healthier life.

Its not really that bad on making yourself get involved with some loans as long you would really be that responsible on paying it back and you do know on what are your obligations then it would be just alright.
Wrong thing on here on the time that you would be taking up some loan is on that you do miss out on repaying it back on where this is where problem do begins but as much as possible if you do still have
other options left then its better not to borrow.Make yourself that free on repaying up interest just because you had just taken a loan, well for the sake of business or investment then it might
be considerable specially if we dont have any for start ups.

Debt is a good thing for a rich man whereas for poor its going to worse his financial status, rich people can use their debt for tax benefits and whatever ways to avoid paying high taxes whereas a salaried person takes loan for buying a home or car just comes under the liability with no real benefits at all which put them under a trap called loan/interest cycle so they need to work for entire life to pay the loan and retire with nothing and ends as a broke person.

Borrowing seems inevitable to every man.
There are three factors that leads to borrowing.

1. Living above your earning: Most people try to live a life that they cant afford, wanting to impress other which are not neccessary.

2. Comparism: This also is in line with the above factor. Comparing your self with others forgeting that all finger are not equal. Measuring your self with those that can afford what you cant afford automatically leads to borrowing just to level up with other people.

3. Unforseen circumstances: this is something that every man must go through. Something that you didn't plan for, maybe falling sick, paying unexpected bills etc, can as well lead to borrowing.
In conclusion, humans cannot do without borrowing. Even a country as big as it is needs to borrow from another country to sustain her citizens.

The above two factors if not controlled can lead you to borrowing addiction.

I agree, it's the other way around for the rich people because they're able to capitalize with debt and using it for better purposes and at the same time, they won't default on it and has a lot of resources to pay for it.

Whilst for the poor people, they're getting debts to buy those trendy stuff that won't generate income on them and the value depreciates and that's not a good purpose of taking debts.

It's to take debts but it's hard when it's come to the payment times. You'll feel guilty that you shouldn't have done it.

I agree with this, there are people with some stuff and they might be richer or they might make a bad decision but when it comes to these type of spending, overspend their budget and still get some stuff. Their friends see these and want stuff a lot and that is why it turns out very wrong and they make mistakes, which I understand and that is why we are overspending right now, basically confirming that we are fine with the society as it is and how we are likely to go on like this.

But, the reality is that any person who gets out of this pit hole and lives a decent life, it becomes a lot more decent and they focus on how they could get out of it completely and live a free life, not free in price but more about freedom.

Not only in America but it's also happening in Arabs. People think Arabs mean rich people. But the truth is all Arabs are not wealthy. They borrow money to live a healthy life. They borrow money to buy expensive cars. They borrow money to buy gold. This show-off culture destroys society everywhere. People want to show off their wealth. To do that, they borrow money more and more secretly.

At some point, people get addicted to borrowing money. I know some people who earn good money. But some of them are gamblers. They borrow money to gamble. Their debt increases every time they borrow to pay another lender. They realize their mistake once they are in a lot of debt.

I do not agree that most people borrow money for frivolous activities like those you mentioned. A lot of people do borrow to indulge themselves in activities like that, but most people actually borrow money to solve a pressing issue or a health emergency.

Emergencies could arise at any time and what do you do when you haven’t got any savings? You go cap in hand to the bank or to wherever you could get a loan. The easier the loan, the higher the interest rate would be when paying back. I agree with you on that.

I think people live beyond their means in trying to create a false/misleading image of themselves mainly on social media but also off the social media platforms as well. It doesn’t turn out well in the end most of the time.

Borrowing money is one of the crucial things, in the end people's interpretations of debt are different, borrowing money will feel like a vicious circle if it's not taken into account, but borrowing money in a planned way can be a very good investment for some people.
To avoid this vicious circle, we must calculate and plan loans and how we repay these loans

There are people who survive by just borrowing money. They will borrow right after loaning just to cover up their previous debt. This cycle will continue if we will not cut it. Yes, not everyone would have the same privilege but we can have the free will to change our path. Loaning or borrowing can only drag us down more so as much as possible, we should know how to handle our finances responsibly and avoid loaning if it isn't really necessary.
If we can find other ways to survive and grind then we should grab more opportunities so we don't have to rely on others' money. 

Maybe what you say is true. because we can also see that many large companies actually rely on loans to banks in developing their business. but of course with careful planning. and maybe that's fine. but for anyone who makes a loan without careful planning without even taking into account the level of ability to pay, borrowing must be avoided. because it is indeed at risk of making someone prone to being trapped in a vicious circle that makes them addicted. but those who borrow with careful calculations and planning like a company that also does it are indeed understandable. but I personally prefer to develop a business without making a loan because it's less risky.

A big organization or company borrowing is not an issue though because as long as they are making huge profit, they can be able to repay their loan back in a short while. Mind you before a bank gives out loan to a business firm, they must have seen your business proposal or blue print so as to ascertain the figure contained in your proposal and the value of the project if all blend together but the major thing bank will emphasize on is your profit revenue if you can be able to meet up with the repayment of the loan when given to you.

The careful planing you talk about is all entailed in your business proposal because when the bank goes through your proposal, there they would see how you would run your business and repayment plan as you outlined the whole process in your proposal.

Bank is always on the upper side. They will allow the loan if they see that there's a good way of paying them. I mean, they will check your capabilities before they will allow the loan.

There's a process where you needed to provide all the details and you need to submit backup documents to assure
the bank that you are capable of and you have the asset to return the money or pay your loan, whatever the circumstances.

Submitting a bank loan proposal is very easy if you have collateral that can meet the loan requirements, the bank will accumulate the value of the collateral and the bank will determine the maximum loan limit that the bank will offer to customers, I have checked the bank's interest payments are very high and do not recommend that you apply for a loan bank, if you apply for a low loan it is better to save than paying off the loan every month, if the need is urgent then there are loan options to friends but you have to pay off the loan on time.

Debt is becoming a major issue now, not just in America but all over the world, people's incomes remain stagnant and inflation is catching up with their income, what we used to buy for $1 is now worth $2 and it is even worse in the developing countries because the purchasing power of their local currencies has lost value against USD plus high inflation. What I used to advise people is the adjustment of lifestyle, why drive a car, when you can take the bus, if you are used to eating out, cook your food at home, just look for ways to cut costs, another thing don't be lazy, find ways to reduce your cost of living in a legitimate means. It is a great feeling when you know you are free of debt, debt is a trap and most people that enter into it never get out of it, if you used it as leverage to scale up your investment or business very good but consumption is bad.

Would like to tell that bank interest isnt really that much high if you do compared it into those lending firms and financing companies out there.Nothing beats out bank when it comes to less interest.
It is really just that it is really that hard for you to get up some loan due to strict requirements and lots of paperworks which should need to be done which is something that most people doesnt
like and ending up on going into other options.This is why they do make themselves get buried with high interest rates just because they've been declined whenever they do
apply out for some loan in the banks but as much as possible its better not to take up some loan or borrow at all.

The love of borrowing money from people is bad. Even though we have that kind of life pattern, we should try as much not to allow that to inflict our children because that is one of the gene that can destroy there personality in the future. We can borrow money from friends to do one or two things and pay back but we should not make it as an habit of collect loans from people without the attempt of paying back immediately. There are people who are very fond of borrowing and not pay back which is something we should try as much as possible to avoid.

Yeah right, taking a loan with the bank is far lesser compared to other platforms/services. If you can submit verified supporting documents, then you are good to go.

Bank just need to verify your documents and if they find it good, then you'll get the amount that you
are loaning, but like what you said, better not to take it if you have other options / alternatives.

The bad habit of humans is that it is too easy to owe, the presence of easy debt opens the door for anyone to owe, but we must understand that debt will not make us happy or rich, the easier it is to owe, it will make our steps and life difficult because we have to think about paying and of course also extra money or interest.

Getting involved into loans and debts is a slippery slope. The cycle of taking loans can really mess up your financial situation and goals of your life. The thing is, when you borrow, you're not just repaying the original amount, but also the interest that comes with it. So, in the long run, you end up paying way more than you borrowed. The more time you take, the more you have to pay. Then there are people that takes more loan to pay their previous loans. This is like digging yourself into a deeper hole each time you borrow to pay one of your existing loan. At one stage it becomes almost unbearable to pay anything. Sad thing is, many people think it's an "easy money" which they will be able to repay later, but that doesn't happen unfortunately.

Debt a dream? That's crazy but to borrow and have money in your hand can be a dream to some which money can only come and go. They should not only think about the things if what can they purchase with their borrowed money but they must also think that after it, they still have a debt to pay. That way they will spend the money on something more important or on something that can give them an income and that is the ones that they will use to pay their debts regularly.

The latest generation of people are confused with the high-interest rate as a good thing, just because they saw the word "high" on it but high interest rate is actually a bad thing. They are still young but as long as they grow older, things are going to be more clearer to them.

Borrowing is not bad but only when the proceeds are used to build more sources of income. The principal amount will be paid more so the proceeds should be able to earn more than the capital plus interest and additional income for your effort.

In my country, loans from banks, lending, and credit cards are also rampant. And most people here I noticed take loans in order to buy appliances, gadgets, and other goods that are beyond their regular income. Savings is not in their dictionary.

the debt situation is different in each country.
The aforementioned Americans have an excellent standard of living, even if the dollar is at the head of the economy, and not resources or technology. They live all their lives in debt - rent apartments, medicine, cars. At the same time, their life is at a good level.

As for other countries, everything is not so good. And people take debts corny because they don't want to starve to death or buy clothes for themselves.

Cryptocurrencies give us a good opportunity to earn, we can start saving deposits, buy what we wanted.
And with all this, we are participating in the global financial evolution ;)

In short, it's not bad to be practical for now if the budget doesn't really allow it. Because it's hard for us to insist on our usual expenses if we run out of bills. Which is usually the solution for most people is to take out a loan.

If we borrow from a bank, there are a lot of requirements the same as the lending company, then the interest or profit that we can bury for a long time is still huge. That's why it is necessary if we borrow, we must use it with a sense that can also produce a profit so that we don't get into debt.

It's just we can't be grateful for our salary and end up being wasteful with our money, many people are short of cash because they're doing a lot of things like too much hangout, buying expensive stuff, and wasting money in gambling. It will become a bad circle when we're addicted to borrowing money from the bank with high interest or somewhere else with high interest, it's better just to borrow when something urgent comes up and we can borrow that money from our friends.

True, it all depends on how we use the loan because the loan is not always a negative thing,
using a loan to open a business or anything that generates income is a good thing,
but unfortunately many use it for things that are not too important like the example you mentioned.

That is, if you are forced to borrow money or have a loan, it is better to go to a bank or any other cooperative that has low interest because you can pay it easily or the interest you'll be paying is just low, but again, sometimes it takes time to be approved. Other people will still borrow from others so they can get it immediately even though the interest is high. There are really times that we need money for emergencies. That is why we take a loan, which is good. That is why we should just take a loan for emergencies and not for wants.

In our country, the case for those who rely on borrowing money stems from their inability to provide the needs of their family. With the continuous increase of inflation, it is really hard to make ends meet these days especially for those marginalized sector. But for who are capable enough of adjusting their expenses since I can see that non essential things are the ones we used the borrowed money for. So it is definitely not a good idea to live beyond your means, we should always be responsible enough to assess our financial situation. In this way we can stop the habit of borrowing money and make ourself be secured financially in the future.

Borrowing will help you out from a very negative situation, that’s why it’s also has its own advantage rather than disadvantages. The only way it becomes a bad idea is when you borrow money to fulfill your own luxuries in life, it will always end up as a loss. Though borrowing money so you can pay for your existing debt is sometimes hard to avoid, but if you can spare from doing it through saving so you have something to pay, you will never end up making additional debt.

This is actually happening not just in America but to all parts of the world. Maybe that’s more because of the present lifestyle that people chose to live, they prefer to live having luxurious lifestyle and clearly spend above their means, so the outcome is they eventually get broke later on. Except for those who borrow for investments, I think that is reasonable enough if they are also borrowing an amount they can manage to pay even if their investments won’t completely work.

To much influence on current status or trend happening on social media sites are one of the causes why many people choose to flex all what they have and either its legally belong to them or not. Some want to flex because they want people to think about that they are damn rich and have good disposition in life. There's nothing wrong about flexing any physical achievements but we need to make sure that we own that things and we don't deceive people just to chase for clouts.

Most times those who find themselves taking loans, even more than they would have need of or even should they have need of them are those that have not been able to properly make plans and archive them.
I believe there are always options to keep you away from taking loans if one could make proper plans by visualising and speculating when your most likely with a 99% accuracy get your next income or fund and program when or how long it's likely to last or going to exhaust. You have better chances to living a healthy life that keeps you off borrowing. Some people just jump into borrowing because the facility is there and that's a bad way to actually approach taking loans. Its supposedly a last option, a do without and mainly, should be used investments that is sure to bring returns so, you could be able to meet up with the refunds and the interest that might be attached if any.

If we can’t live below our means, that’s when debt becomes a natural disaster. Though it’s not new to us anymore as majority of us are having our own debt, but if we can avoid it as much as possible, I guess living life would be more healthy and meaningful. Otherwise, if one will be drown into debt, expect that you will surely have a hard time making ends meet, which means one will certainly suffer from financial breakdown once ignored.

The fastest way to be broke and stay poor for life is borrowing.
I think the worse place to work in, are loan companies.
And borrowing include the buy now, pay later system they are both the same. If what you want, you can't get it with your own money, then be patient or just forget about it. Do not go into debt because of it. I know that there are some unique cases where it is inevitable but just try as mush as you can to have emergency funds/savings this is the antidote to borrowing.

Totally agreed, we all in our life borrow money for even small things like, if you have a cousin or friend who asked you to pay his internet bills and he/she will pay it back. These all also a type of borrowing money and tbh i also borrow money sometimes but I try to clear my loan as soon as possible.

Because such small loans are forgotten by both parties which further increases the addiction to borrowing. And borrowing money with interest is an option i will not chose. Because the first reason is, my religion forbids it and secondly its not an act of morality. Because once you addicted to take loans you will destroy your family's legacy and for the giver of loan (lender) you will be addicted to free money and will lose your mind when you have to work (earn it).

Those who have left no option but to work in these loans companies, i think they can work there but they should not resort to lies to achieve their monthly loan targets. There are many cases in India where farmers took loans and bought field accessories and than failed to pay there loans+interests back and have to lose their field too (which they had used as an collateral). The point is there occur some emergencies in which we have to take loans but if your life is going smooth and you have no need to take loan but still you think to start another business and lack some money.

So you take a loan then i must say you are doing wrong and should avoid these mistakes.

Borrowing is actually not a bad idea if your intention is good, especially if it will be used to generate more income for you. But if you intend to borrow just to pay your first debt, I don’t think it’s reasonable enough. It will only put you into more debts and eventually make yourself drown to it, and when you’re already there, you will find yourself hard to recover and get rid of debt. So as much as possible, learn to avoid borrowing money because that will eventually cause you to struggle financially in the future. You might benefit from it for now, but once you fail paying your debt, it will definitely put you into a lot of stress and pressures.

Loan or simply borrowing money from other people could be a negative condition of an individual. But ofcourse everything has good and bad side. A good side of this thing is if the individual to make a loan has plans on the amount such as putting it in an investment which has low risk such as starting a small business or even huge such as properties/ apartment. Actually, business owners are taking huge loan to start a business and they are making that business pay their loan, to maximize the money and make it efficient. However, bad side of borrowing or loan is when an individual has no plans of how the money would be paid 'coz eventually it will all be consumed which would put the person at the edge of be needing money again. Bottomline is, borrowing whether it is good or bad, depends on your intention and action to make.

If we can't control the bad debt, we will really get into debt and it will be difficult for us to get out of life. That's why if we borrow, we should think carefully about where to use it apart from emergency reasons.

Or if you have money, why should we borrow? it's just that simple to think. They say, it feels good if we don't have to worry about paying.

No offense but they're just like normal people that are bringing food to their tables so, they're also people that just trying to survive just like us. They're also like corporate people that have normal lives so I don't think that they're the worse place to work.
What's worse are those people that are taking loans and don't pay them but instead think that to pay their first loan is to pay it with another debt. Maybe that's the sign that they have no intention of clearing their debts and once a person is in that situation, they're going to have a hard time going out of it and that's tested and proven by the people that I've known personally. It's better to quit borrowing and pay off a debt with another debt and don't take loans for nonsense things just like those material things that we just want to have and don't have the potential to make money. Avoid taking debts because it is a practice that can make someone be in deep of it.

Debt is an extra burden for every human being that is not easy for everyone to control. This is even more fatal for those who are in bad financial conditions. But despite the fact that we often know this, we often take debt for different purpose. But the important thing here is that I have enough source to make the money that I will borrow? This can be even more dangerous for those who have planned to get debt for use in cryptocurrency. If you can invest in Crypto with their own financing, then it can be a recovery at one time, but if you invest with borrowed money, the extra money of debt can fall down a investor in disaster.

We are living in really difficult times at the moment, in the last 15 years we had so many different major crisis that there was no real recovery. The economy is very fragile as we are struggle from government intervention to the next big bailout. Just in the last few years we had the covid pandemic, Russia Ukraine war and the new high inflation making food and energy a luxury good. The main problem is that wages are not rising in line with all the cost. For example, living expenses went through the roof making it almost impossible to buy your own apartment these days. The only real chance we have is using debt to try and maintain some decent living standards and hope that our wages will eventually start rising and match the inflation rates. The good thing with high inflation is that it's also making our current debt less valuable in the future. 

Well said. People are just force to apply for loans or debts so they can get out from their current bad situation. Otherwise, if they won’t do nothing, they will end up starving. That’s why borrowing seems inevitable for most of us especially with this high rising inflation that is already beyond our control. Maybe another reason that a person is drown to debt is because of his expensive lifestyle. He will definitely end up as a pauper if he stay that way.

Yes, there are many factors that cause a person to be in debt, the higher cost of living makes it difficult for someone to get through their days. The cycle will continue if we can't do something. An expensive lifestyle greatly affects our expenses, so in a position like this it would be nice for us to make changes little by little so that we don't continue to fall into debt. Saving to pay off debt can be one of the things we can do, because if we choose to pay off the debt by borrowing it's the same thing, we can never get out of this problem. Changing the mindset by trying to live frugally and not prioritizing style is better for a change in a position like this.

That’s true story everywhere. Not just America but every corner of the world has been injected by the traditional banking system. Credit cards are the worst in all of it because user thinks he has lot of money but in reality they are spending more than their salaries and income. It’s ok to be used in emergency cases but it’s really bad if someone is using it regularly. There are ways to manage it but it could be dangerous if not a managed well enough.

Apart from this, the whole problem starts at our own record keeping. I have seen families cutting down their needs to insane levels. But they have sense of reality, they don’t fall for the traps of unreal attractions or what can I say, an artificial fun?

Borrowing below your income is completely fine but it should be on bigger things. Such as home, education, medical emergencies. These are the things which matters so that’s completely fine.

Borrowing small money here and there and at every chance you have the opportunity to because you know the person you are borrowing from has the money to give you will quickly make you loose your respect and self esteem even if you have a good paying habit. We should always live our life around the money we have and earn and plan well with what you have. Borrowing should be on a rare basis and strictly important things, not on small small things that you could have handled had you only planned better. If you start borrowing small and you always get it, you will start increasing what you take and ask people to borrow you before you know, and also before you know it, you may begin to spend almost all you earn on paying back debt.

The type of work and the amount of income of each person is different. and in developing countries, in fact, there are still many types of jobs that are paid very low. Meanwhile, the prices of basic daily necessities continued to increase due to inflation. and that made everyone's expenses increase tremendously. but unfortunately the increase in spending is not accompanied by an increase in income. because many companies don't even raise the salaries of their employees when inflation occurs. so that starting from here everyone experiences an imbalance in income and expenses. and one day it will make them experience a lack of money to fulfill their life needs. and well maybe some have resorted to taking out loans to survive. although that is not good and can be bad for the long term but it is also a temporary aid for them to be able to fulfill their basic needs such as food and so on. The solution may just be to find a side business that can increase income. but of course not everyone can do it. because there are types of work that cannot make someone have enough time to earn extra income. this is a state of dilemma.

A Man can should use that sum of money which he can afford because using more money than income can become a cause of one's failure in completion of daily uses so unfortunately he will take loan for such activities which in my opinion are most hazardous.

Borrowing can be considered as a good thing but if we are not able to return it on a time then sometime it cause a distrust between the provider and acceptor. In my opinion if a person limited his uses and spend money which he thought that he can easily manage and there will be no difficulty in the end of the month so it will be easy to manage the ongoing activities of life and there will be not need of borrowing money.

Its really important that whatever loan it is, be it from bank or from a certain friend, you should always pay on time, otherwise you cannot make another loan once you have settled your first loan. However, taking loans is not really necessary if your intention is only for short term survival, you can just adjust your expenses if it’s really needed so that you can’t avoid from any loan. But if your goal is to have a secure investment that could benefit you in the future, then maybe you can consider taking loan but only at a minimal amount, an amount that you can easily pay on time.

Debt is part of human existence, if various governments can owe other countries how much more citizens. The ugly phase of taking loans is when it is beyond once income. If a loan is taken for a good course and can be cleared off within a stipulated time then it is not a bad habit. When it becomes bad is when we go beyond what we can pay back and when we take loans to impress the society.

There will always come a time in everyones life where taking loans will be the last option to meet up a pressing need. Some might choose to over look this option and wait till they can tackle the need themselves while others might decide to take a loan with the intention of paying back within a stipulated time frame.

not everyone has sufficient funds to run and advance their business.
I think borrowing or debt is a way to improve one's finances, the positive value that can be taken from borrowing is the responsibility to pay it so that you understand how to manage finances.
as for what needs to be avoided from borrowing or debt is to avoid looking like a rich person, in my opinion that needs to be avoided, and don't put too much emphasis on excessive style by using borrowed money or debt

Debt has been and will continue to be part human life. Some of the richest men are using loan (debt) to run their businesses. In fact, even government that suppose to be providing loan and financial services to her subject is entirely free from both external and internal loans. The argument should not be about whether or not to take loan but we should focus on the purpose the loan is meant to serve. An average man takes loan even when it's not necessary. How can one take loan to marry? And will probably continue paying the debt even after divorce. Marriage per say is never a must and you can do better without it. In essence, takin loan should have cogent purpose and should be utilized very well in order to be able to pay back in time. When you take a loan and squander it, to pay back will be very difficult.

Well in my part as long as there is no emergency reason i will not borrow money, because borrowing money is easy but paying the interest of it is very hard, it is better that as long as we can afford our basic needs we will not borrow money because borrowing money will not help us to become rich it will only bring us more down and it will make us poor.

Since the loan will generate interest, it will be a disaster if it does not succeed in extracting the "benefits" from it. Borrowing to cover the necessities of life will never end with a monotonous level of income. I'm not calling it wrong to borrow for "feed," but people should want to borrow just to expand their business to avoid failure.

Borrowing is a complicated thing. If you know how to deal with, you are good to do it. But if you have no idea and only thinking that I will pay it back somehow, then you are in trouble.
You need a good plan and an income source to cover up the expenses for you to pay your debt back. If you don't have that ability, then it is better not to borrow in the first place. And borrowing something from other source to pay off your previous debt will lead you to more debt in the process. But if you are already in debt and finding your way to pay them back fully. Then make a strict spending habit and create a plan on how much you are able to pay back and act according to plan.

I have to agree on you that majority of those who resort into borrowing are those who fail to plan ahead of time, and when they know they’re out of budget, they eventually decide to take loans to cover up the budget shortage. However, there are also some of those who can’t get rid from borrowing because they are not making sufficient amount of income to sustain their needs considering that most of the necessities nowadays are having consistent price increase due to uncontrolled inflation. So no matter how they tried to live below their means, they will always end up having financial struggles.

Owing depts is like being enslaved until you've paid off... And owing unnecessary loan can be very hard to pay off keeping you in an unhealthy financial state.
What I'm saying is never you borrow to invest ... It's unhealthy.

Borrowing money is not a joke it can make our life more worst that today if we cannot used the borrowed money in a good way or business, if we borrowed money for our vice's and the borrowed money slowly disappear without any return profit then that was a bad idea, but if the money we borrowed will be used in a good way or a good business with a big profit then it is good. Borrowing money is not always a bad idea if you have a good plan on it all we need to do is to be more wise for good.

If only people like you save money or have a savings with them, this is the one that you will be using when you are in for emergency and not going to borrow money from someone else. Borrowing money in the past is hard. There are different process and most importantly they require a good collateral but nowadays it's now easy and you can even borrow without any collateral but it doesn't mean you can now run away and plan to not pay the loan because they still have your personal details and you can be reported to the authorities.

It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.

Borrowing is bad and same time necessary, when someone go for loan to feed or take care urgent situation, which will now add interest then is bad. and when one collects a loan to start up a business is also bad, because is a new business is not sure if the business will succeed or fail, so is a very bad idea to borrow money to start a business, but one collect loan to expand a business then is not that bad because the business is already there is just to expand the business. so, borrow for the right purpose, never borrow money if you don't have any source that will enable you pay back.

It can work in both ways depends on what is our strategy to pay it back with the money we borrow but practically someone can't take a loan when they are already in debt cause there credit line will show the instructions about pay back power of a person so they can only get it from someone they know which is hard to get as well nowadays.

Change your spending life style, don't trap into the lifestyle inflation that is where most middle class working people get trapped.

Many a time we need money to sort out some unforeseen contingencies, and this is not a result of any lavish spending of all sorts. In this scenario now the person in charge has to borrow to fund such an occasion. When it becomes so frequent and the reason is for frivolities, then it is not okay.

I certainly wouldn't disregard loan taking from my perspective as it has helped me many times more than I could ever imagine. As long as the interest added by the organization isn't dubious, then it's a yes for me. Loan taking is meant to be spent wisely and not lavishly.

Admittedly, the process of taking out loans has become less stringent than it once was. This, however can be said to be a ploy to attract more people who are willing to take loans.
We should understand that whenever a bank gives out a loan to a customer, it’s primarily to make more money for itself and not to actually to help out the customer with his emergency needs. We shouldn’t look to the bank as a Saviour of some sort whenever we need a loan. Banks care more about making more money out of customer deposits in their custody.

Borrowing money to either start or grow your business isn’t such a bad idea cause the potential to make some profits from your business is there. You could actually pay back your debts to the bank comfortably if business is running smoothly. Personally, I think if someone can borrow money from the bank or wherever to gamble in the hopes of winning big, then that individual has a gambling problem that would no doubt further help ruin their finances

Credit cards are offering benefits and points and that's why people who own that like them. As long as you're a wise and disciplined spender, you'll not have any troubles with it. And I'm against with taking loans just to have an investment, it's a big no for me. You only invest with your own money and not with someone's money even if you're okay to pay with interest on it. Instead of taking a loan and paying its interest, just save a little by little and use that money as the capital you want to be so that you won't have any burden if your investment is unsuccessful.

You’re right mate. Borrowing is not all the time bad, neither good. But as long as your intention is to make it more productive like taking chances through investing, or because emergency cases require it so, and you’re capable enough to pay too, then borrowing is never bad at all. However, if you borrow just to satisfy your expensive lifestyle, then that is a very absurd decision. Even if you are capable to pay, your reason is still very invalid and unacceptable.

Borrowing money without earning money for food is a stupid idea and a path to depression.

Take a convenient loan - for education, starting a business, solving a critically important problem, provided you have a job/know/want to earn - not the most optimal, but absolutely acceptable option!
It all depends on what you want, just somewhere to get money and spend it, or to change the level of your life systematically...

Borrowing money isn't always bad. Sometimes we don't get paid, but we don't have enough money for everyday. Borrowing money is one solution, but borrowing for a lifestyle that shouldn't be done. it's necessary to avoid a cycle like that that we have to avoid because it maximizes income while minimizing expenses, what we should do is not stingy, but we have to be good at managing money well so that in the future we can live quietly without debt.

Borrowing is like a last resort for most of the people and it is not harmful If its under control.  But if you are borrowing out of limits that's will be an alarming thing for you in future.

So overall borrowing is thought as nice good by most of the people may be because of interests or return values.

And what's wrong with near-zero interest rates? If a person is dumb and doesn't know how to use money, he will be dumb in every condition.

He is definitely sarcastic. American Dream stayed a dream, you have to be asleep to see dreams, once you wake up, dreams disappear.

I think you should give a try to Robert Kiyosaki's speeches. He often talks about debts and it's pros & cons. He often mentions that if you take out a loan, you'll only have to pay interest rate because loans aren't considered income and are not taxable.

You seem interested in Robert Kiyosaki's views on debt and loans. yes, While it is true that loans are not considered taxable income, interest paid on loans is generally not tax deductible for personal loans, with a few exceptions such as mortgage interest. However, taking on debt is not without risks and potential financial stress before making any major financial decisions in my opinion.

During my young age, I took a student loan from my school when I was still a high school and they all turned out to be a pain in the ass in the end when I thought that it will all be over after I graduated. As long as you don't screw up your grades in school, you'll definitely be fine but they are still a pain in the ass now that education is a basic need and you almost have no control in deciding whether you should afford a loan or not. I still did not have any source of income that time as I was still dependent on my parents though.

Personally, I avoid borrowing money like the pest. It is so difficult to get out of debt. It would be way easier to work for your money and save some cash in increments instead.

Sure it might take longer but you will be safe.

I think the culture of borrowing money until you are in a hopeless situation and are doomed to spend the rest of your life paying your debts is an american exclusive culture. In my country, we prefer to save our money and/or invest it into useful and profitable ventures. From my experience living in the United States of America for a long time and spending time around Americans, I can definitely say that they seem to be a risk-ignorant people. They appear to be completely oblivious to the consequences of their actions until it catches up to them. Then they are surprised. ::)

Their some certain things we will need money to solve in life which it's so difficult to resist borrowing even if it will take lot of energy to  pay back. It is better to borrow money to handle good opportunities in life than to lose.  Borrowing is not bad when the Money is used to solve things that are important and very valuable,  borrowing is only bad when  their is no  meaningful thing to use the money for.  As far as one does not have sufficient amount of money loan taken can't be quit, people will always see it as the easiest means to raise money.

There is nothing wrong if he believes in the principle that Robert Kiyosaki believes in and there is truth in what Kiyosaki said. It is up to us how to apply it in our real lives.

But in reality, it is also difficult to get used to debt because it will be difficult for us to get out of it, even if we say that we are good payers, that's why we can't save anything for future savings in my view and understanding about this matter.

Being in debt kills you inside until you pay up. It breaks and uproots your peace of mind. Debts can cripple even your emotions.

Borrowing more money can leads to more debt and makes it harder to become debt-free. The primary reason for borrowing or taking a loan is living beyond one's means, where expenses exceed income. This kind of problem will become worsen with millions of people are spending more than they can earn and also credit card debt is increasing at alarming rate. So people should quit on borrowing money because it will cause more stress and depression if they wont be able to pay their debts. Debts will be doubled or tripled if you had missed paying the amount due and it would cause a lot more problem to you physically, emotionally and mentally.

That's right, it's not worth borrowing money, then it gets addictive and every month it turns out to be minus that collateral and so around, you need to be able to manage your earnings and not live in a big way.)

People get addictive to it as they could get money instant by just borrowing, not knowing that there's an interest for every payment you pay. It's actually stressful to think of your loan than will minus to your income every payroll. You'll also need to budget your money as you need to think of monthly payment to your loan. Borrowing money would be better when it comes to emergency purposes where you really need money not into unnecessary things.

Borrowing money when it's really urgent, I think it's okay. As long as you don't continue to borrow without paying for it. Borrowing is commonplace in society. But we also have to know how to arrange the payment later. People who borrow money also because they have to. But in my opinion, don't borrow too much money, because it can accumulate bigger and become pressure when we pay it off. So it's better to borrow a little money, so that it's light when paying it off.

There will be times when someone experiences unexpected financial things that result in having to borrow money. In my opinion, this is normal, and maybe everyone has experienced the same thing, including you. What is not allowed is when someone borrows money then they are addicted because they feel it is easy to get money just by borrowing, without them realizing that the debt is accumulating at the end of the month. In the end, they paid off the debt by going into debt. This makes most people depressed and then run away from their responsibilities.

The beginning of the economic collapse caused by loans, the nature of the loans that we take also does not lead to needs, so the loans that we take are only to fulfill life's necessities such as food, lifestyle and others are not productive. Meanwhile the monthly fee as the responsibility of the loan is an obligation that has no option to get because of the difficulty of work, this is where the problem arises because of the unproductive nature of the loan.

Intelligence in managing finances is very important in current conditions and if someone fails to manage it properly, financial problems will become a heavy burden to solve. Moreover, job conditions are very difficult to find at this time and if someone is unable to save expenses, then his life will be even more difficult.

Not only in America but almost all over the world this is happening now, there are more expenses compared to income and because of this there is no financial stability for people to go through life, credit cards, types of personal debt and excessive lifestyles make the condition worse for the economy. Meanwhile smart solutions to keep cash flow more stable are very difficult to find, so finance is a basic problem at this time.

The problem is not the inflation of debt but the recession and the fact that so many people are taking advantage of the recession so they're going to borrow money and get their money back in the form of loans so they can get a loan of a sufficient amount and it's really not that far in the future, but then again the inflation rate in today's country is so high that its not surprising that even the banks have trouble charging them money, which in the form of loans will be very inconvenient and it is better to use your money to pay for it and save and keep the savings of your savings to yourself if you feel like borrowing more money. 
 
Well said, I can't blame you, I can't even blame you.

This is a good point.
Sometimes when someone has borrowed once, they are like an addiction that makes them borrow again and again when they lose hope about finances.
It's like a need in the end that makes it a bigger dependency and this is the danger.

But indeed, on the other hand, if indeed we can survive while we are still able to survive without borrowing money there, it would indeed be better to maintain it without borrowing, which will actually make it difficult for ourselves.
I always try to do this, even though things like this are a little more complicated than imagined because sometimes there are urgent needs, but as long as we can afford it without borrowing, don't fall for it.

That is what exactly happened here in Venezuela. The inflation went so fast that the loan interests were left behind. So people took advantage of it to max up their cards and use the money as soon as possible.

The payments made back to the bank were made with inflated money which had less value than the one asked in the first place, in the end, banks were losing money and ended up terminating the credit products for regular people. That is one of the reasons Venezuela may be one of the few countries in the world without institutional credit in our own currency.

Argentina manages it in a different way, their rates keep up with the inflation, so asking for loans there is actually expensive, one can easily end up paying the double of the money asked after just 6 months.  :(

Indeed right, if you borrow and you don't have that sufficient sources to pay it will create big problem.

But I agree that there are times, especially in an emergency cases where you won't be able to avoid borrowing, times that you
don't have any options but to proceed and ask for a certain amount to loan and think about paying after. That's not a habitual thing
but it's just a force incident that really needed to address.

I think so, most people borrow money just for fun and consumptive things like buying the latest mobile phone, for travel and so on, if we can stop these bad habits then we can become rich people because we can use the money used to pay off debts for cryptocurrencies investment.

Intriguing, isn't it? Nations wrestling with inflation and credit. Venezuela? Suffering from a hyperinflation whirlwind. Argentina? Keeping pace by cranking up interest rates.

But, my friends, this tale of inflation and debt has more layers than a political thriller. It's beyond controlling interest rates or inflation – it's also about prudent borrowing and spending.

Let's champion financial wisdom and accountability. Understand the perils of drowning in debt. Not just for personal salvation, but for the entire financial world's vitality

True, in borrowing we have to think about several factors such as large interest, and most importantly our ability to pay bills when they are due, everything must be taken into account so that our income is not only used to pay off debt

Yup, but most of the time those who take loans are really having difficulty repaying it.

It ends up that the salary that they've got is not enough to cover their debts, putting them in a situation where they needed to
loan more to cover the first one.

It's not good, but there are people who don't have any other options but to take that route just to survive, not meant for those
who are habitually taking loans for leisures, that's not what I'm implying.

Not only on American history but this would really be rather considered to be a global problem considering that people are really that living way more than on their means and spending up like a mad man or simply

going into their limits. We should really be that aware and mindful in speaking about our spendings which it shouldnt really go way above on what we are earning.If you do live up on this way then you would
really be finding yourself into a great trouble later on as you would be making yourself get into deep debt which it would really be hard to get out once you do get shackled through it.

Im not saying that im not guilty with this since i had experience the worst thing even up to now, which im really that having that huge problem about repaying those credit cards because it do keeps on accumulating.
Paying up minimum amount due is really a pain in the ass and really just milking out their clients and this is where banks do make even more profits. lol

When providing a loan, the Bank takes into consideration many things. Particularly the collateral, because if the person wasn't repay the loan somehow the bank needs to settle the loan. For this the collateral is brought into auction and the loan amount is being paid. When a person borrow from the person next to him or from a known person this stands as debt until its repaid. When a person borrow without understanding his repaying ability, this is going to stand as debt for long. In all means we should have our own plan to lead life with what we earn. At some critical situation we're borrowing that's different. People who borrowing without purpose, particularly for luxury outlook should stop it to progress in life.

Some could argue that debt has become such an important part of the economy of the developed countries that banks and other financial institutions base an important percentage of their income on charging for interest to people who may be drowning in debt, without knowing about it. Just take a look at the total credit card debt in USA.

It has become a dangerous lifestyle, working as much as possible to pay the cards, because the lack or self control and discipline. Because in the end, those are the base of money saving. Wanting to get all things we want inmediatelly will eventually lead towards problems...

That is why always take into consideration or like having a calculation if you can still pay it off and you are not over spending because you'll be hard time paying it in long time. Others also take a loan just to pay off another debt which is really a bad move but still other has no choice as their income is not enough. Ive also came into this point that i really need to take a loan just o pay off debt which i am lucky that I've got out from it and it really kills you mentally as you are sleeping thinking how you pay it back

This is the true meaning of living , avoiding to borrow or loan in the most difficult days of our life will make us capable of facing everything in the future.
sometimes it is just the attitude and the behavior that brings us to borrowing when we can tighten our belts to not feel the hunger in some times.
people love to live in the most better way when their capacity seems to be not that consistent.
if all the people in the world will only learn to strive to live, trust me we will all grow together.
those lending company or even business and even our own friends and family , only want one thing and that is not to help us but to make us suffer either with increase in payment or free from interest yet we will still need to pay them back.
I have learn my own lessons from this when i started to have my first venture in business and yes, it made me think twice now and never take a loan again from then .

Borrowing is very common here in our country, especially when it is our relatives. Letting them borrow money is easy but it is hard when you're asking them to return the money they borrowed from you, that's why I don't lend money to people anymore even if they are my friends or even relatives. Lending them money will just make them more irresponsible when it comes to financial thing.

They will pay you using money that they borrowed from someone else, and it will just keep on looping, a never ending cycle of borrowed money.

having debt to pay off other debts sometimes needs to be done, because this concerns our good name regarding consistency so that we don't lose trust. people who have fallen into a problem like this may at first have done the calculations to how to pay for it, but sometimes the trip doesn't go according to plan, so they are forced into a dilemma situation like that. it would be better to have debt with an amount of no more than 20% of the assets we have, so that it will be more comfortable if in the middle of the road it doesn't match our previous plans

Many people think instantly when they feel they have no money or want to buy things they want, for example motorbikes, gadgets and so on, the presence of online loan services makes people easily in debt, they will regret it when they know that the interest paid is very expensive, it's better to immediately leave bad habits.

Not everyone is equally bad, not everyone borrows money and doesn't want to pay it back. We should not equate everyone equally. There are some people who fall into a really difficult situation, and borrow money is the last resort they can do. If they are our loved ones and need help, I don't think they should be abandoned. I think we should look at each case to lend money, don't rush to refuse all, and also shouldn't lend money to all easily. I used to borrow money too, so I know what it's like to be in debt, so if I have money and a loved one needs help, if they're a good person, I won't refuse.

Some people around my environment have considered loan sharks to online borrowers because the interest is quite large. And besides, if you think about it in general, someone who takes out a loan just to buy a motorbike, gadget and other luxury items is someone who thinks very wrongly. Why is that? Because he took out a loan not to do business, but to spend it on things that he couldn't make more money out of. So this not only becomes a person's bad habit of making decisions, but also because he doesn't know which way to use the borrowed money.

it is indeed wrong, but many people still do this until finally when they are already convoluted and make it difficult for themselves, they stop because they are deterred.
to be honest, I was like that before, taking out a loan just to fulfill my desires, at first I thought it would make me happy, but over time I realized that it would only cause problems for me when paying later.

Taking a loan is okay, but it must be used properly, taking a loan because of an urgent need or taking a loan with the aim of doing business, if it's going to be profitable then there's nothing wrong with borrowing.

Borrowing money is a habit for many people. Of course, the lender also looks at the level of the borrower's ability to pay it off.
Actually this is not a good thing to do, but the demands of necessity make many people take out loans.
It doesn't become a bad thing when the loan is used as business capital. But avoiding is better than continuing to do that.

I personal feel its a stupid idea to take loan just to please your wants and pleasure because the money collected will be easily spent and  before you can understand how you used the money the money must have been squandered and the struggle to pay it falls back on you and if you don't have lucrative means of paying back you will then plunge yourself in a pool of borrowing circle and that's when you start borrowing from other places to clear up the current loan and doing so will make you trapped in a circle of loan you can't get out from which unhealthy for anyone who wants to progress in life.

It really depends on the situation at hand that prompted the borrower to take out the loan; borrowing is really not something that is bad unless the purpose of the loan is for some non-useful things. Taking a loan must not really be for a business purpose, like you said, because some people could have some emergencies during the middle of the month when they are yet to receive their salary, and when it happens like that, they may have the need to borrow and wait to receive their salary towards the end of the month before repaying the loan.

You know, some people borrow money to buy some flashy things just to impress their friends or intimidate others, but it's really not necessary to take out a loan just to fulfill those needs. Just as you have said, it's really important to take note of whether the borrower has the ability to pay back the loan before giving it to them.

It depends on how do you use your debt or loan. If you decide to take a loan or debt you must be certain that it must support your efforts or build your business. Do not follow what millions of Americans spend their money that was taken from a debt / loan just for the extravagant needs. They use credit card to do it, they should reduce using credit card because it make them easier to buy the extravagant needs.

Correct. Actually we even have to imitate what Banks do when we lend money to someone. if it is someone we just met. that is, we can see what guarantees the borrower can show. And the bank does this because actually the money that the bank lends to the borrower is money from customers kept at the bank (savings / deposits). So that the bank will definitely need a guarantee to later replace the customer's money stored in the bank which is solely certain to be taken back by the customer.

    It's also difficult to be in debt, especially if you suddenly lose the source of income you were hoping to get to pay it off. So it is necessary that if anyone does this, he must make sure that he can use the money he borrows in something that can also produce money.

    It is often used for emergencies, things that are not really needed and so on. So it is better and better not to try to do this thing, than to have a problem in the end.

People have to borrow or lend for various needs at any time. But this borrowing will never be a good thing if it happens in excess. When a loan is made, a certain amount is to be paid against the loan. I mean bank or any other financial institution here. If there is no repayment of the loan, it can take a big shape at some point which is capable of ruining the life of the borrower. Taking a loan from a person may not have any effect, but in the long run it can also be responsible for creating a far-reaching situation. So, if you take a loan for any reason, try to clear it in time.

You're right. Borrowing money can be a tempting solution to short-term financial difficulties, but it can quickly become a cycle of debt that's difficult to break free from.


The key is to focus on living within your means and avoiding the need to borrow in the first place. The goal is to break the cycle of debt and build a solid financial foundation.


It may take time and effort, but with dedication and discipline, it's possible to achieve financial stability and avoid the pitfalls of borrowing money.

In this life does have fariasi in getting daily income there are those who get more income than expenses and there is also the opposite, then from our limited income so that there is an interest in lending money to others and many people who borrow money because they are forced by circumstances so that we will find it difficult to prevent borrowing money, But what is very dangerous is borrowing money for personal interests and just want to have fun enjoying every hangout with friends who have no use, for example drinking wine and so on, then this is a mistake that we should stay away from, because many people borrow money but it is difficult to pay.

I'm sure right now there are very few people who don't lend money to meet their daily needs, because our current needs are very large. If there isn't enough income, lending money is everyone's solution, even though they will have difficulty paying, but because they are forced circumstances, borrowing has become something that we often find, if our income can indeed meet our daily needs, then I agree with your suggestion because borrowing money is not for very urgent needs, which is wrong, because from our sufficient income we can create a savings account so that when there is a sudden need we are not forced to borrow.

Actually if we are good at managing finances well then borrowing money is a good and productive thing, unfortunately most people borrow money for fun and unproductive things so that it makes us always involved in debt. from now on immediately stop these bad habits because it will make us regret.

While it is true that taking out a loan can help fund investments or business ventures that can generate income, it is important to consider the risks involved. Borrowing money means incurring debt, and debt carries interest and fees that can add up quickly, especially if the borrower is unable to make payments on time.

Currently borrowing has indeed become a kind of common thing and is done a lot. Economic pressure that is increasingly not easy. High inflation and no significant increase in salary have been the triggers why our salary sometimes cannot meet all our daily needs for a month. So some people are forced to take loans to cover the shortfall. and that is a natural and common thing to do. And when our salary is no longer sufficient for our daily needs, the solution is to find additional income. with side jobs and such. I also did that and it became effective for me so I could avoid loans and pay off every loan I made in the past. At first it's not easy but when we get used to working more hours in our daily life then eventually we will get used to it.

The price of goods and needs is increasing, while the salary that has been determined will not be able to increase significantly because several companies have arranged this. What can workers do when inflation is higher, while a month's needs will not be enough with the income they get?

That's the best solution with additional income because if we don't try to do this and only rely on the main income then of course it won't be enough, people can be successful because there is additional income and they can manage well by investing, whereas if what is get a little then it needs to be arranged again will be more enough what is needed.

Making a loan won't be a problem as long as we can fulfill it when we have to pay installments and don't burden it even more.

Correct. And the point is we have to be smart in measuring the limits of our financial ability or resilience before making a loan. Because making loans without measuring the ability to pay in the future is a careless thing that can make someone feel that it is not easy to pay off the loan they have taken. And the important point of having extra income is because we want to avoid loans. And so that we have more money that we can save or invest for a better future for ourselves.

Most mistake or most thing that happened to people who loan money is they are being pushed to ask for more,

I mean, if they can repay the first loan, they will be forced to loan again to cover the first one,
meaning to say that it will be a never ending debt that they needed to cover from time to time.

Limiting or analyzing your capability is very important, if you are borrowing just because you wanted to
buy material thing, it's better to save money and try to reach the amount and buy only when you already
have that spare out of your savings.

It's the wise and responsible way of managing your finances. Buy what you can afford and save if you
wanted to have something and not to loan money for it.

For me if you couldn't afford it then don't buy it, if you don't need it don't buy it.
Most of us are in debt because of things that they want they would borrow money just to have it and there are some who also borrows money to celebrate.
Just be contented with what you have and spend your hard earned money wisely, try to invest avoid unnecessary expenses.

Therefore it is important for us to protect the flow of income and expenditure in advance, borrowing for things that are not useful such as vacations or luxury goods for heart satisfaction is a bad choice while income remains stagnant below standard, or 1/3 of the borrowing, it will leave a lasting wound to the financial flow. of course that's a bad thing to do, considering you have to make a deposit and interest on loan payments.
it must be left.

Even if it's for productive things, we really have to be able to calculate your net income from work, to balance taking on debt, because if, for example, in this situation it will also have a bad impact on the way the business is being carried out, even though the goal is productive things.
First protect the flow of finances, then calculate the expenses that must be done, or in short you have to make a rough budget of needs first, if you find money left over from your salary after calculating expenses, then there you can take out a loan to improve your business, but What needs to be noted is that the deposit calculated cannot be more than 1/2 of the remaining money.

IMO, debt is not always bad, if we have a business spirit and entrepreneur who is qualified far above the average person there is nothing wrong with having debt with the aim of making money with our money. And vice versa. If we don't have the ability to do business, don't approach debt, even if it's only a little. Moreover, being in debt just wants to buy something that doesn't really need to just follow lust.

It's better to build insight, read lots of books, build relationships, community and other positive things than just thinking about how to get into debt for business. Self-ability in doing business is the most valuable asset, not just money, having money but not having the ability is the same as using a motorbike without wheels.

Some people are used to borrowing and they never pay back these kind of people are the opportunist
they are those who harm people and make it there habit to take loan and harm people with their attitude. May God save us from all all these thugs

Borrowing money can be a temporary solution to financial issues, but still it can lead to more debt in the long run. Many people  live beyond their means, which is a major cause of borrowing money. One of the common type of personal debt is a credit card and is growing at a faster rate than ever before. If we live only within our means we will not end up borrowing. To avoid overspending we need to budget all the things that we needed and never buy things that is not necessarily needed to avoid borrowing money from the banks. And also borrowing money is not good if you will just use it in investing crypto currencies.

I felt guilty on this one hence I am used to borrow money from borrowing cash app available in my country though I have valid reasons to bite the offer due to emergency situations before but the importantly I am one payment away to fully paid my debt. So, after that I will not involved anymore with DEBT, I am over it period so that I can sleep quietly without thinking about debts.

The thing is, these offers were made available so you could use them in emergency situations and meet up investment plans amongst others.

The thing is, people have abused the system, seeing it as one way to make free money. Many even borrow with the intention of never paying back.
That's an abuse of the whole privilege ad those that could have actually benefited from these loan offers.
Borrowing money isn't always a best idea. Sometimes, you've got to try until you find it to be a last option.

The purpose of making a loan is to solve financial problems in the sense that the borrower has no other choice but to make a loan. They don't expect to encounter any problems during the loan repayment period, but the risk is definitely there because one never knows when your source of income will dry up and how your source of income will dry up.

In the Covid19 era, many borrowers had to experience loan repayment problems because their source of income was reduced. The government took the initiative to provide an extension of the repayment period wherein within a certain period of time the borrower does not have to pay a penny for the loan. However, after the grace period has passed, the bank and borrowers only realize the impact. Many bad loans lead to foreclosure of property, it is a risk that actually becomes a consequence for the borrower.

True, we have to place borrowing money as a last resort when the situation is urgent, and from that last option we must also consider where we will borrow money from. There are two choices, from relatives or family where there is definitely no interest that we have to pay, or from a loan provider company and we are required to pay interest and even fines when we are late to pay it on time. And we have to try the first one first, namely borrowing from relatives or family, if that doesn't work the final option is to borrow money from a loan provider company. We have to think long and hard when we are like this, and don't regret our choice.

Borrowing money is a vicious cycle that can trap you in debt. You may think a loan will solve your problems, but it will only make them worse. The more you borrow, the harder it is to pay back. The root cause is living beyond your means. You need to spend less than you earn and avoid credit cards that tempt you to overspend.

Unnecessary loans are taken by those who are addicted to gambling or drugs because usually they do not have any job and they do not get any financial support from family for these activities. and that's when they turn to loans. and they can never make savings and on the contrary face many dangers

Those who take business loans make good use of it and the business thrives, in which case the loan does not matter to them. on the contrary it is very beneficial for them. and no big businessmen can run their business with their own finance they have to resort to loans and they are able to make good use of it and repay those loans on time.  So it will not be possible to Quit all type of loans.

Not the pleasure of being in debt, or the habit of being in debt. all of us who are in debt certainly want to have all our needs fulfilled without being in debt.
But sometimes there are circumstances that force us to be in debt, which eventually spreads to other debts, as we said, in the end there is a lot of debt.

The suggestion is that if you can't increase your income, you can try learning to tighten your belt first. The existing salary is managed in such a way that the expenses that are usually required are there, even though they are not really important/need to be reduced so that you can repay debt.

Examples of pulses, examples of cigarettes, samples of food or drinks, examples of housing rental fees, etc.
How to save money should not only be for problems when we have debt, but we should also get used to it so that we can set aside income so that we have more spare money. Remember not to "miser" but get used to "setting aside".

A businessman will estimate the possible profits that can be achieved every year if they have high capital to build a potential business, so they decide to use a loan to increase business capital and all risks from the loan have been considered if the prediction of business development is not as expected, they must save a reserve fund to pay off the loan time. So I agree that if borrowed funds are used to open up business opportunities, don't use borrowed funds for gambling and drugs.

All businessmen know that, they need to allocate some reserve fund if ever the business fails. But that's also what they do to make the business operational and bigger and that's through borrowed funds. So, just in case the business succeeds, it all came from loan money that will get paid by the operations of the business. And in short, there's no cash that these businessmen have pulled out from their pockets.

It should always been the case, borrowed funds for operational business and not with gambling and other activities that may cause addiction.

This is a case of personal loans between friends, family and relatives, we are often faced with problems like the ones you mentioned and sometimes we don't have the choice whether or not to give the loan to one of these three people. In the case of loans that are general in nature, people will choose to take out loans at leasing or conventional banks and we should avoid loans that are like this. Since several decades in the area where we live there have been lots of loan services that offer convenience and they provide terms and conditions that are not so burdensome, but the interest rates that are calculated are very large when you pay monthly installments.

When people depend on loans of a nature like this, it is tantamount to risking financial difficulties in the current year, especially since the loans taken are not to support a business or business, but to make ends meet or just to make ends meet lifestyle. This is a form of error and as much as possible people should avoid loans that are not productive, because they will bring much bigger problems in their lives.

I have to agree with this philosophy because borrowing money puts you on the completely wrong path in life. With the exception of borrowing money for a mortgage (which in many scenarios can leave you with an asset worth more than the amount you borrowed over a long time period), most other debt will be very bad for you in the long run. There are a few exceptions, like credit cards that allow you to borrow but might give you 24 months interest free as a promotional offer, but these are rare. It is always going to be better for your peace of mind if you can save up in advance of any anticipated costs, or otherwise live within your means. It can often lead to borrowing more and dent what should be your accumulating wealth.

the average person defaulting on debt is usually their business declining, not that they don't want to pay, but beyond their expectations, their income has decreased, they can't pay their installments, especially with the current world economy, prices are rising. the purpose of loans is to solve problems not become problems, the government (the Financial Services Authority of a country) should provide control over why loan customers cannot pay and supervise loan services that are burdensome to customers.

This is the fault of many people, they owe only for consumptive purposes. Many people feel stressed about giving up when they have debt because there are so many negative inputs about debt. we have to open wide Don't think narrowly about debt because of debt There are two of these, yes. The first is productive debt and this is about consumptive as you have mentioned. If we take advantage of productive debt, it is better, because most novice entrepreneurs, even big entrepreneurs, are successful with debt, of course, productive debt.

Borrowing money wont really be that bad as long you are really that responsible on repaying it out. Why i can say so? I had made myself to be a successful businessman due to bank loans on which i did make some loan

and apply it on a business on which i did successfully able to make it grown and the revenue or profits i do get is the money i do pay up for the loan+ extra profits which is something that really beneficial.
It is really just a matter on how well you would really be handling up yourself and sticking up with your plans or having that mindset on which you wont take a loan for nothing or something that you would
really be just buying which isnt really beneficial at all. People do continue to get some mortgages without considering that those things are really that be on a the risks of depreciation or something
that you wont benefit on long term.

Better to take a loan if its needed or necessary specially on making up a business, but if not then you should avoid it at all costs because it would really be putting you into huge trouble.

For us to keep borrow money from any source might gently becomes an habit that might look like nothing to us but this a lone can make us lose big and our respect from people. People who choose to be borrow are doing that at there own risk since there is always a time when the people that are lending others money would want to come for there funds and use them for something else.

I disagree
no one would want to be in debt - I personally like people debt free. And those who are good in dealing finances.

people do borrow - but then they return the money.
but most of the time people do not return the money.

debt is not a good practice in our family
One thing I like about my family is to have very good financial dealing and we have always been advised not to loan money and try to live debt free life.

the thing that most often or even every day we experience debt problems, each of us personally we are always related to this debt it cannot be denied because in an era like this debt is something that is commonplace and is no longer a disgrace because If I'm honest, everything is certain have debt.

It's a different story, in ancient times debt was a disgrace, and so on, debt was hidden, so that other people, besides that, loan services weren't as plentiful as they are today. But that was before, now it's different, even when we're at home, we're offered to take out loans and so on, and that's okay.

Debt is not wrong but it must be used correctly, everything and anything that we are not allowed to owe. For me personally there are four things that we should not owe.

1. Debt for consumptive financing, consumptive financing, this lifestyle financing is something we hope to buy by way of debt. This is not allowed, because we can be sure that we will get into debt problems without any solution. let alone having debt beyond our budget or financial capabilities and consumer financing or this lifestyle is really the biggest trap. We hope that a luxurious lifestyle that doesn't prioritize our financial logic can make us fall into a debt trap that doesn't go away.

2. we don't get into debt to build a house to build a house. because if we go into debt to build a house, the budget shuts down. For example, we owe a bank to build a house, which means that this money doesn't go anywhere, only for the house we live in, and that's obviously the heaviest burden because what if the house doesn't generate feedback, it doesn't generate finances that can support income. us because home is something we have to live in.

3. Don't go into debt to start a new business or business. Because I personally don't think we should be in debt for a new business, the reason is, start our new business from scratch with the capital we have, if the business is running smoothly, then we owe it for additional capital.

Oh man, we've all been there, right? When you're strapped for cash, it's tempting to keep borrowing money just to get by. But here's the harsh truth: the more you borrow, the deeper you sink into debt. It's like a never-ending cycle.

The sad reality is that many of us are living beyond our means. We're spending more than we earn, and it's only getting worse. Just look at credit card debt—it's skyrocketing like crazy, and it's at an all-time high.

So yeah, borrowing money might seem like a quick fix, but it's not the solution. It's time to break free from this cycle and find better ways to manage our finances. Trust me, getting out of debt is way better than digging ourselves deeper.

There is no guarantee that there will always be profit in business, but profit is possible depending on some unique planning and marketing strategies of the business. so here a businessmen can earn huge amount of profit from business by using unique ideas and strategies. so in that case investing in business with loan is not a problem. but if one gambles with loans or invests in high risk areas like crypto then he will make a big mistake and he can face big danger. So if you plan to do anything with the loan, you should think about it a hundred times

I think having a loan for a business is kinda risky so it would be applicable only to people who have a stable jobs to pay their loan incase the business failed. Because you will be in debt incase you didn't have pay the loan. And I agree that it would work to start a business if you have proper planning and strategies to make your business work and have a lot of profits. Like it wouldn't be just a trend for the opening but it would be a long term investment since some business only survive due to new opened. Make sure that you study the things to start a business cuz if you don't probably it would lack something that causes your business to fail.

a businessman will certainly be friendly with risks, so they must have careful calculations to get the planned targets. indeed not all the efforts made will bear fruit, but at least with good calculations it will minimize the risks faced. especially to borrow money as capital, of course, you have to be able to rotate money properly, so that there are no obstacles in its implementation, because of course the money you have will be rotated in a relay manner, to fulfill business implementation. as long as it can be done, most likely the results will be as expected

The advantage of having the right knowledge and good understanding of what you are planning with the loan money.

It's not an easy task as you really needed to study the flow and how you anticipate what
will be the possible or potential outcome of your target business or investment.

Borrowing might give you possible outcome if you know the purpose of your loan, if it's
for business or investment that you fully understand, then it's good, but if not, if the purpose
is just to fill your lust or some other sort of things, then better to stop or not to proceed.

So true. But getting out of that cycle is not easy. Because some people really want to get out of the loan cycle but their unstable economic conditions make it difficult for them to leave the habit. because they do it under conditions of compulsion. Because the core problem of the increasing number of people entangled in the loan cycle is due to the increasingly difficult economic situation. High inflation which is not accompanied by an increase in income also triggers people to find it difficult to manage their finances. because the money generated is not worth the increase that soared so rapidly. so more money is being spent than is being made.

But everything will indeed return to how our habits control our lifestyle. if we are used to saving, then even the current economic situation will not make it difficult for us. It's just that nowadays more and more people are prioritizing a luxurious lifestyle rather than a simple life. And another trigger is that currently there are more and more loan applications that make it easy for people to make loans. so people start to get addicted.

That is what is called the risk of a loan and default due to the business not running normally or experiencing bankruptcy is not a consideration, because after all the bank will not accept reasons for the business being undertaken by the customer to go bankrupt. It is therefore important for anyone taking out a loan to have plen B when problems like this occur. If not, the collateral required when taking the loan will be auctioned according to the agreement between the bank and the loan customer.

Not everyone is lucky in building a business or business, and this must be considered before taking a loan from any party, because the worst possibility is when everything we plan doesn't go well and the loan will become our monthly burden to pay. Many entrepreneurs sometimes start a business from loan capital, but when we use all the capital from these sources then that is also not true in my opinion, because there is a risk that we are at stake for the business that is being run.

The decision regarding the loan depends on each person and if they intend to develop a business and have a plan when something unexpected happens it is not a problem, but what must be remembered when the worst case occurs regarding the business being carried out and they are required to seek collusion so as not to get into trouble with the loan taken.

Yeah, I kinda resonate with the OP, borrowing to solve lack of cash problem is not usually the right way to handle things but it is mostly the only quick option available. If am limited with cash or experiencing red, I will obviously opt in to borrowing to offset my bills because I know I can always repay it back since I have a source of income.
Borrowing money without having the means to pay back is the real danger. You will end up compounding the problem

Also that taking a loan on paying up a loan which it do really impose that potential danger but as long you are really that responsible on repaying up your loans on due time or right time then i dont really

see that it would really be a problem.Taking up a loan doesnt mean that you are experiencing problems but this is indeed true the best and fastest way on acquiring cash which you might be using into some other things. It is really just that unwise on taking up some loans just because you do want to buy something which isnt really that beneficial at all.Unless if  you do took up some loan but for the sake of
investment on which i could say that it is really that a good move rather on the opposite one.It is really just that you should really make sure of yourself that you would be able to repay it on time
to avoid some potential problems.

But just like on what most people been saying that it would really be better if you do have zero loans.Invest on the amount which you can afford to lose.

The problem may be from the mindset in this.
Indeed, we also cannot rule it out and in fact this is still a problem that is experienced by almost some people who are in the lower middle class of the economy. I'm not going to blame that and indeed if it's really just borrowing the last thing that can be done to support life then I don't think it's a problem. It's just the thought that it's still a solution and it's being done over and over again that makes this a little tricky.
We seem to be suggested to continue borrowing on the grounds that the previous loan was also successful in repayment and this kind of thinking is what worries us.

Yes a businessman before taking any loan calculates his profit loss very well and then takes a decision. Because they never want their business to lose. and that's why they do business very carefully. bit when a gambler is addicted to gambling, he has very little guidance. and he decided to take the loan without thinking anything through. so taking a loan is not the same for everyone. for some the borrowing becomes a positive aspect and for some it causes a big problem in standing. So whether to quit borrowing money depends on one's motive

If you don't need much then you shouldn't take a loan at all.  Because of this debt, good relations with people become distant relations. The person you borrow from today may give you a loan, but when you fail to repay the loan on time, you will come across as very small-minded and will not help you when you are in trouble later. And if your financial condition is worse then he will force you to repay the loan. At that moment you will realize how bad debt is. So avoid taking loans as much as possible.

If it's not the reason for the urgent need factor, then avoid loans from anyone because when we really need a loan for treatment or other urgent matters, so we can ask anyone for a loan. But if you are tied to a previous loan and haven't paid it, he definitely won't give you another loan even if we are in a dying condition. Avoid loans if you have enough money to buy them or invest with low funds, it's better than using borrowed money because you will focus on long-term investments and don't have to think about monthly payments for loans.

I think getting loan for some sort of business is not a good idea because one day your business will be successful therefore you will easily return that sum but those individuals who takes loan just for buying things to be shown as he is a wealthy man is totally on a wrong way. They should think that this bike cannot be good source of earning so instead of this one should take loan to put a base of business and then earn through this business to return loan as well as to buy a bike.

Even with business we should have the precise calculation of risk management and go for a loan. Every business is a chance, though we're expertise in something we can't be sure to make the calculated revenue out of it.

When it comes to gadgets, bikes and other things it is completely not advisable. The value keeps dropping as we keep seeing more number of new devices reaching the market regularly. With properties it is good, but the analysis need to be done precisely. The surrounding should be on the growth phase. This will make the property increase in value over time. So that, even if the loan can't be repaid we won't get affected by debts.

So true. If it is not urgent then loans should be avoided. especially if it is a need in small quantities. And yeah I agree that if we don't pay on time then our relationship with the borrower can also be a little bad. Or even we will have low feelings. Our self-confidence may also decrease. In essence, a loan can even affect our psychology. hopefully we avoid the loan.

assess your situation and think hard if you really need such loan. if you have other options not to go to this route, take it. as much as possible it is your last resort. it is great to live a simple life without debts. even if you are not having luxury lifestyle but without debts, that's more than enough to live at peace.
sometimes it is your lifestyle that will determine how you treat these material things. just live simply, plain and simple.

I agree that sometimes living simply is the right choice. rather than prioritizing a luxurious lifestyle but it can make us financially unstable. Living simply and not having debt is a good thing and I think happiness and peace will also be easier if we live simply. But sometimes unexpected situations come our way. and to overcome this it is important for us to make preparations from the start. like saving for an emergency fund and such. so that if something urgent comes up, we are prepared and we can avoid borrowing.

Actually there's nothing wrong in borrowing money it depends in the person how they take of it for example you borrow money because you want to put those as your finance into your business or any asset that has a good return so that asset makes the money into you to make more that could pay your debt. But if you are a person borrow money and you keep spending for your wants only that's the problem its not about the Borrowing it's about the person who borrow.

I have said before that there is no problem with borrowing as long as they know the risks involved in making monthly payments and they can do that, then it is not wrong, it is just that in this case our dependence must be reduced.
When we borrow once and are successful in repaying it, even when we don't need a loan, our brains will be persuaded to do so under the assumption that the previous loan was also well repaid.
This will increasingly become a dependency which in the end will be detrimental to myself I think.
So although borrowing is not wrong, it is important to know that if there is no real use in borrowing then such things should not be done.

The intention or reason why you barrow that matter, I see your point and that's valid.

If you use that money for investment or business and you are expecting good potential returns, then there's nothing wrong with loaning
money, as you are trying to grow your financial capabilities but you are lack in financial aspect, and that second argument, it's true that
using that loan money just to please your material desire, for sure that will going to be a problem in the later part.

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns, then this is a reasonable and common strategy for a trader to consider a temporary loan to improve financial capabilities and generate income to repay debts. . On the other hand, if one borrows money solely to fulfill material desires and self-indulgence without a well-thought-out plan of repayment, it can lead to financial difficulties in the future.

Loans made to open a business field or open a business with the aim of being able to pay it back more quickly while making a profit is a good thing and that clearly cannot be denied because it really makes sense. But if someone who makes a loan for investment and to buy materials for his own pleasure will end up ruined when the borrower starts to charge him based on a predetermined time.

So I agree more that loans are made based on one's self-awareness to make it grow through business and not to be enjoyed like those who consume it excessively in life. Because basically a good and growing business will always provide better profits for its owners, while those who only spend the loan capital will always be poor in their lives and will never develop like other businessmen in this world.

besides that there are many unexpected things in life that happen that require immediate costs, sometimes it's education or health problems and in my opinion if the loans made are still in a positive way then that's fine.
I have only ever made loans for the necessities of life, health and education.
and in my opinion if it's for investing or doing business, it's very risky if you take a loan except in the development of an ongoing business and most likely it will get better without big risks like investing.

Everything has two sides, if we choose a simple life that is not too demanding, our thinking will become regressive, always accepting fate and thereby turning us into cowards, no have the will to strive. But if you set high demands in life, and to do that, you need a lot of money. And to have a lot of money, we need to work hard and work creatively...from there, you will have the life many others dream of. Borrowing money is not advisable, but if you are borrowing money for emergencies or business, it is not so bad that it should be avoided. Sometimes life needs a lot of pressure that makes people keep moving forward to achieve success.

There were also emergency situations where I decided to borrow but I also consider the risk of it. When borrowing, we have to make sure that we would be able to pay it on time so we won't face consequences in the future. Take loans only if you actually need them, never just because you want to. We should think about setting up emergency funds so that we won't have to take on debt when unanticipated occurrences happen. Borrowing money to invest is not a safe move, especially in the volatile digital market. It would be a major risk because losing is always possible. It will be better to use our savings or our hard earned money in case we decide to invest so we will only be risking the funds that we can only afford to lose.

yes, there is nothing wrong in borrowing money, but it all depends on the circumstances and goals. maybe it would be wise to think about how to return the money before borrowing money, because there are so many people who are willing to take risks, then borrow money and invest in something that is uncertain. after the investment failed, he could not return the money, and resulted in frustration. After all, it was fine to borrow money as long as his intentions were good, and he could recoup the money he borrowed if his plan didn't work out.

The only reason for borrowing money is either for business or something that is very productive that is worth borrowing, and if one should  think of to borrow money it should be the amount that can be paid back in a period of time that is okay with the lender. Borrowing money for non productive things that can't generate money is a bad habit. People who borrow money for no good reason have a poor financial life , which they find it so difficult to have savings. Borrowing money should only be for business that can bring high profits that can be able to pay back the money borrowed.

I think only those who are greedy in seeking profits are willing to borrow money and then make it an investment capital. they do have an investor mentality because they dare to take risks but that actually brings those who invest with borrowed money to get into new problems. crypto investments are not always profitable, while loans must be paid for sure along with the interest every maturity date. I think this is something that should not be done in investing.

Borrowing money for investment capital is not the best option and is more likely to be risky,
so it's better to avoid it and don't force it if you don't have capital yet,
Think carefully about the risks before making a decision.

Engaging in ventures without being adequately prepared for the accompanying risks is strictly prohibited. While some individuals perceive it as exceedingly foolish and perilous, there exists a cohort of affluent and audacious individuals who employ this approach as a high-stakes gamble. Borrowing money for business purposes is indeed a common practice, as businesses can exhibit promising future prospects, and the discernment of an investor towards a business venture is undeniably astute.

However, it is crucial to refrain from attempting to emulate such practices, for the experience of the wealthy and audacious carries profound implications. Suffering losses with disposable income alone can lead to considerable distress, let alone when relying on borrowed funds. Your collateral will be in jeopardy.

You have mentioned the very vaild point its not secure to jump a boat without learning the art of drifting the boat. Likewise if you want to do something have an adequent knowledge and then give your best.

Though it's logical but we know that there are many people out there who borrow money to fill their material needs.

In some cases, they borrow because of emergency and from that loan amount they've started having a hard time budgeting
to pay for it, an additional burden that needed to pay back, as it will generate more interest.

But in a wise side of loaning money/borrowing money, if the intention is to invest or to establish a business, chances
that you can cover the interest and you can pay for the actual loan after you successfully established your business.

we need to always learn from other people's mistake.  There are people that had borrowed money for investment purposes and they lost the funds ending up with calamity they don't know how to resolve. We need to be very careful on how we borrow money and from what source we are getting the fund from. If the money from family our neighborhood, it could be better and easily resolved but if the money is borrowed from bank or institution then we might be in a big problem especially when the fund is huge. Bank would not want to condole any excuse than to take your property so they can replace it with the fund.

better not to invest than to do it from the loan. because it will not make us profitable, even our profits will soon run out just to pay off the loan or the interest. if you want to trade with a loan try to do futures trading with a small amount of capital because it's like making a loan because there is a laravege system. I don't forbid borrowing, but it always affects us when we are making investment decisions.

I agree with you. If you really borrow in an emergency, that's okay. Because an emergency is a condition where you really need it.

Borrowing money just for show or spree, it's useless and only makes oneself in a worse condition.

Do you support the idea of borrowing loan to get crypto asset? How are you sure if it will come with good potential returns. Well, all I know about borrowing loan is that, you can get a loan to improve your  standing business but you shouldn't make a mistake borrowing loan to start a business.

Some people do not have much info about loan and interest  and theit life is so affected my it. Have I been at this place I would surly would no invest on loan money no mattet what!

they borrow only thinking about how to get rich quickly even though they forget that by borrowing the risk of losing is far greater. they are like betting fate with their investment. if they win they can pay it but if they lose everything they even have to think about how to pay their debts.

Sometimes we cannot avoid taking debt or loans like me. In a country that I lived with a regular employee cannot sustain his or her family enough with the minimum amount of salary though my job is white collar but then I have my maintenance so it needed for me to get more money to supply my needs, no matter how you manage your budget still if you don't have the capacity to work for more jobs like me since I'm sick there's no option but to take loans.

Unnecessary borrowing is not a good habit. And when you are used to borrow money for no reason then you are addicted. I try not borrow and I try not to leand money. That is now my new way of dealing with people

some people are very selfish and they keep borrowing money all the time
I have seen so many people who damage others people money for the sake of their fun

Getting rich quick out of a borrowed money is often the case with those who borrow to invest in bitcoin. This has often been met by adversities on several attempts with several investors having little knowledge on how cryptocurrency works.

Although, there have been some rare cases I've read from a flash news where someone borrows an outrageous some to invest in real estate but, I think there is more to it than the news portrays and a very good team behind the plans that worked there project to success.

Before that was even possible, such persons must have got some good credit score and this is the case with some individuals. They've user petty loans to kill there loan score.

Yes - there is no harm in borrowing but not returning the funds is a very bad thing. You get rid of the money and you loose your firend too. so better keep your financial clear - when you borrow return right away

Borrowing money for investment or business is really risky, but there is no success without taking risks and trade-offs.  therefore, borrowing money is not necessarily bad but will depend on each case and each person's circumstances. you borrow money because you can't gather that money in a short time to prepare the business. I mean, you can pay that loan even if your business fails, borrowing money can be considered.  But if you have no other assets, and no income, then borrowing money is a stupid idea.

if there's anything I've learnt from my parents, it should be contentment..
No matter how little I have left with me, giving debt a thought isn't an option for me at all..

Like, why try to borrow when you can just work with the little you have at your disposal, what if things tend not to work out just the way you had planned them to??

right, borrowing money to buy assets is not always bad, depending on the background. For example, an investor sees a good opportunity to invest, while he has no cash and his assets are still tangible in property assets, so he dares to take a loan, which may be only 15% of the value of the assets owned, if calculated mathematically, suppose the investment fails. total then he had no trouble repaying the loan. even though bitcoin is an asset that is purchased, it feels difficult to go down and become worthless

Many people think fast by relying on borrowing, now more and more people rely on online loans when they want to buy things they need, cases of online loans in the country are increasing because there are many reports of consumer failures to pay, thus making several online loan provider companies also go bankrupt.

Borrowing is a matter of choice, that's why as you say when you are short on budget or expenses it is really difficult to get out of debt even though the interest will be high, others still agree because they have no choice.

        So it's not surprising that there are also many lenders or lending owners who are actually getting rich. But even so, if there is a chance to get out of debt, please don't go into debt again because we know the hardships of the debtor, or if you do get into debt, don't run away or run away.

We do not need to be too rigid in borrowing money for business, but we should also try our best to limit borrowing money indiscriminately.  because it's fair to say that borrowing money without careful calculation will get us in more trouble than we think. especially investing in risky assets like cryptocurrencies and bitcoin because they have an uncertain future, which would be extremely risky for us.  There is no guarantee or proof that bitcoin will never die or become worthless.

Most of us like to only borrow when returning it is very difficult, in this case we must pay attention too the job of the person borrowing if you really want to lend it because if it's the wrong person or the person who doesn't have a job we lend it can there will be fraud and not paid looking for reasons that there is nothing to pay

Online loans do not have binding rules so that many companies go bankrupt because customers choose not to pay, online loans also have no legal basis and cannot sue customers if they do not pay off the loan. Cases like this are rife in 2021-2022 if I'm not mistaken and many people take advantage of the convenience of the services they provide and when applying for a loan they only need an ID card, cellphone number and they have never conducted a feasibility survey for borrowers who submit applications. Very different from the pattern of loans provided by banks because they have much stricter rules and have a clear legal basis.

Basically people take loans to encourage the business they are running which is not a problem, because they have plans for how to pay off monthly, although there is also a risk if something unexpected happens, but what becomes a problem when loans are taken to meet lifestyle or for needs daily. The nature of loans like this is unproductive and will actually bring society to a new stage of problems, so it is also necessary to recognize the nature of loans so that they are not too rigid in making use of them.

I have seen people who are really in need of mone.’But they are hesitent to borrow money. On the other hand there are some people who are habitual and they damage people financially.

Loan can be useful in some cases but borrowing loan unnecessarily is what I will advice anyone to go against. Loan can be acquired to improve your business if needs arise.

Actually borrowing money is fine for anything, but it all depends on yourself because the only person who can guarantee your ability to pay off debt is yourself. I agree with you, borrowing for business purposes is okay because we can afford to return the risk. In contrast to borrowing money to invest in Bitcoin, it is very risky, of course, apart from what you said, it does not guarantee what Bitcoin will be like in the future. The fluctuating bitcoin price will also be a problem in itself because we don't determine when we will get a profit, while we have to repay the loan with a grace period.

This problem is very common, borrowing money to invest instead of after getting a profit from the investment he will return the loan. but when the grace period arrived he had not made a profit so he was unable to pay his debts. This is what is called being reckless, there is no job but borrowing money for investment.

Of course. we have to be careful if we want to give a loan to anyone. especially to people we have not known for a long time. we do have to first check what job he has and also check his real identity and whether he is really a person who can be trusted or not. Even when borrowing from a bank, you need collateral. So also we have to see what collateral is offered by the borrower if he is not someone we know. but I personally don't always ask a lot of questions when my relatives borrow from me. I would immediately give it without hesitation if I had extra money that I could lend.

We arent that dumb on letting borrow those people who we dont know because of course it would really be just common sense that you would really be needing security for you to be repaid up in due time.
This is one of the main risks if we do speak about lending out other people or even as someone who do took up a loan then we should really be that responsible on repaying it on the proper time with
proper interest. There are situations or moments in life on which we cant really be able to avoid on not to borrow specially if we are really that short in cash or fund and on the time we do see
some opportunity then we would really be having that kind of consideration on the time being.

Of course you should really be minding on repaying on time so that you would be able to borrow back on the time that you would really be in need. For me it isnt really that something
idea for you to borrow as much as possible since we do know that interest is something that makes us even more suffer but well its up to our choice.

So true. that's where collateral is needed. in case the borrower chooses to avoid paying the loan. so that the lender is not harmed.

And currently the loan system in several banks in my country is experiencing an increase in interest. In fact it is a state owned Bank. And I think the interest rate hike is too high. So that people who borrow will certainly find it increasingly difficult with the higher interest burden. an increase in interest is charged depending on how long the term is signed in the initial agreement. Even the nominal amount borrowed also affects the increase in interest.

I have the opportunity to talk about the causes of the increase in interest. and the reason is due to economic instability and the inflation rate which is increasingly difficult to measure. I don't remember all the explanations but in essence I understand and it's all about inflation and recession.

So, we find ourselves ensnared in the same tangled web of financial difficulties, do we not? The monetary lending framework you've sketched out resembles an intricate puzzle of fluctuating percentages and eroding value, creating a challenging maze for individuals to decipher. This loan arrangement resembles a paradoxical apparatus. Indeed, it provides a monetary safety net during times of need, yet the fluctuating percentages can swiftly transfigure this safety rope into a straitjacket. But let's dissect it further.

These percentages are the banks' way of getting a token of appreciation for their facilitation, correct? However, when they commence escalating these rates, it's we who find ourselves in a predicament. Your analysis is spot on concerning the causative factors. Declining value, economic slumps, financial inconsistency - these elements all contribute to the surge in percentages.

When it comes to family or relative i do always lend money to them even sometimes they dont pay because mostly in my mind i needed their help in the future so if that time comes they will not decline me as I've help them before , but with regards to friends i do always careful on this to whom who i will trust because sometimes trust can kill you which you should be careful , as long as your friend is able to pay it back then it is good but this depends on situation as there are like friends that who lost their job then that is really the best time to gave them money

But sometimes even the people you help don't respect you and they even leave you - I've been in that position and it's pretty sad. Because of that experience, I am now picky about who I will lend my money to, even those closest to me. Sometimes I even lie by saying I don't have money to be able to avoid dealing with debts with other people because it's a little annoying. And now I already have my own perception that you don't have to help everyone, sometimes you need to have the courage to avoid other people's problems.

It's true that sometimes we need to take care of ourselves,
besides that many people who borrow money do not have the awareness to return it before being billed,
stuff like that is really annoying and that's why it's important to start limiting when it comes to lending money.

They don't damage people but they damage their ownselves because of the habit of borrowing money. They think it's cool and easy for the lenders if they have the habit of it but when it's come to paying, they don't make it as a habit.

Not a problem when you're a borrower and you only do that sometimes and you're always paying on time. If there's a personal lender, you won't damage yourself on them.

But if you do this to the banks and other private lenders, you're the ones that's damaging yourself and you think that it's okay to flee and default from the loan you've made.

Some people made borrowing a habit but not responsible when it's already due to pay. Worst they're ignoring the lender as if it's nothing. Borrowing money can also ruin a relationship between the borrower and lender. I experienced this many times (most of them are relatives and close friends). At first you feel pity so you would like to help since they're promising to pay. But after they spend the money and after months of waiting, they just ignored you like they owe you nothing.

Well, it's fine to ask for loan but be a responsible borrower who knows the responsibility and won't run from it. In addition, do it if only necessary and not as habit for your wants.

I also agree that if the loan is taken based on the desire to do business because it has the good intention to make the basic capital grow which of course has the possibility to pay it on time. But sometimes there are also people who make the wrong decisions in life when they take loans that they don't use for business, this certainly won't make a person develop in their life. Because he could not think of running a business with the existing capital.

Being too reckless will also destroy the life of someone who basically still wants to grow but instead falls without him knowing it. This means that he who takes a loan for investment has completely forgotten about the risks that might occur so that such a person is too reckless to make a decision like that without thinking that his decision was a very wrong thing. So people like this need to be given understanding so that they can place loans in a better place, not in places where the benefits are still uncertain.

Once you ever engage into borrowing money that leads to your regrettable moment and learn your lesson the hard way after you have been disgraced and embarrassed from the loan shark, people don't have that enough patient to wair for their appropriate time to make things done in life, they also don't look into their current position and situation if they can afford a pay back to the loan they lend, it's not good as well for someone that does not have a steady flow of imcome to emback on taking loan.

Some things that needed to consider before engaging or taking a loan,

There are obligations that you needed to settle unless you will use the money to start up a business or you will going to invest it
which you can potentially earn, but if you will going to use it in a personal satisfaction, time will come that you will regret, most
of the time if you are unstable then the problem will be huge and embarrassment is very possible to happen when the loaning people
starts to humiliate you.

Borrowing isn't inherently bad if done responsibly and with a clear repayment plan. There are situations where borrowing becomes a necessary and temporary solution to specific needs or crises. When borrowing is approached as a temporary measure and used in moderation, it can help you close a financial gap or overcome unexpected costs. Small, short-term loans, like the ones you mentioned, can be useful for dealing with urgent needs when there are no alternatives. But you must be aware of your financial situation and not rely on borrowing as a long-term strategy to manage expenses or maintain a certain lifestyle. Being constantly dependent on borrowing without a clear repayment plan can lead to a vicious cycle of debt and financial stress.

There's a saying, a mistake will never be corrected by committing another mistake.

Just like borrowing money, if the reason why you borrowed money is just to pay another debt of yours then that cycle will never be finished as you will always find yourself in the very same position in time when the debt is already nearing its due and where all interests are needed to be paid. Actually, having a debt is an unwanted option in the first place but sometimes we are in the edge where borrowing is the only option left to solve the problem.

Those people have no courtesy and respect to the lenders. When they are in need, the lenders have given them the money they're asking but in return, they intentionally want to default.

Actually, if this happens in the circle of your family and relatives. Then, it's a good riddance as you get rid of those people so that they won't come near again you asking for some money.

And they'll be the one that's ashame of asking that from you again if they didn't pay you their obligation for the loan.

Yeah right, there's an instance that you have no choice but to lend them money but if by chance they will not pay you back.

You have to let it go as they can't look into your eyes and ask for more since you already give them
and you are not willing to let them to barrow again.

It's really hard, especially if the person is close to you and the trust that you give them will be broken
that feeling between you will be damaged, and it's hard to recover that same trust again.

Once is enough but if they try to ask you and didn't paid the first loan they took you, what a shame on them. You've helped them without having a second though and when they're able, they did had a second thought of paying you.

Sometimes you have to be hard on these people even if they've got a pitiful situation. They can't get out of that situation because they don't even think of the feelings of the others that they're asking for loan.

That's why karma has always been real and what you did to others will always come back to you depending if it's a good or bad one like this in borrowing.

I agree with you: Borrowing reasonably is one the greatest thing to be kept in consideration. Some people are habitual and keep borrowing money all the time. They never borrow to return. On the other hand some people are great in dealing with their loans.

I hope borrowing never put us to shame before we quit this action, why can't we learn and give it all it takes to also be an owner and lend to others than borrowing always, some people have no courtesy to what they can borrow, how they borrow and from whom they even borrow from, it a thing of shame that some people don't even count it serious that they should stop or limit the extent of things they borrow.

Wow, real-talk as it is, but nothing to argue as those people will not learn if they will not bring this kind of things to them.

If you will not be straightforward, then there's nothing to reflect with those kinds of people,
they will keep asking for more loan and will try every chance that they have to make
something out of you and they will just repeat it from time to time.

Sometimes there are people who borrow to spend, to serve their bad habits, deserve condemnation, and don't deserve us to lend them money. But there are also many people who have real difficulties, and if they don't borrow, they have no solution to sustain their lives. I have met such people in my area, they work hard, never even stop for a moment. But their lives are full of uncertainties, and they can't help but borrow money to solve them. Borrowing money is something we should avoid, but there is no shame in it if we really need it, and if we can pay it on time, there is nothing to be ashamed of.

If we want to give loans to other people, we have to look at their side of life, do they have bad habits or good habits where they are always on time when paying back, because if we lend the wrong person, it will be complicated, especially since the money from the loan is only used for Your own pleasure is not getting out of the crisis problem and that must also be considered so that we don't take the wrong step when making a loan.

What do you say he doesn't want to borrow because of his uncertainty in his income, so he's afraid he might fail to pay off the loan, so he doesn't want to make a loan and it's better to work hard, that's how he survives, but if you really want to help, then go ahead is in our decision as borrowers.

Trying to make some background check? This is something that you could precisely know on which there's no way that you could be able to see on what are the things that they currently dealing with considering this is
really indeed a personal thing which it shouldnt really be shared out or never that right to got involved on things that they are really that doing. Therefore, there's no way that you could be able to know when it comes to background and if you are that someone who do really lend out money into other people then background checks is never been that 100% sure that you would be knowing everything specially on things that they are getting involved into.

As much as possible then you shouldnt really be borrowing if its not really that needed but we know that there are situations or circumstances in life on which we do see some opportunity and able to have that shortage of funds on which we would really be having that consideration on taking up some loan to ease up the situation and able to deal up on the things that you would really want to deal with.
Its very situational and its not really that bad to take some loan as long you would really be that responsible on paying it back. Wrong things turns out to be common on this space is just that because people wouldn't
really be mindful about their obligations on the time that they had already benefited out.

But you already know that borrowing money can never simply be done for business purposes. What about those who have sick family members or patients in a hospital who are looking for a method to pay for their care if they have no other options? What do you think will be their solution? I think borrowing can never be used only for business purposes.

The same question also applies to sick people: What do you think they would do if you had no other option to earn money but to borrow from them while they were ill? All things considered, I just want you to know that most people borrow money to pay for expenses like illness and other necessities rather than to fund their demand for more money.

They are government employees who are borrowing loans not for commercial purposes but rather to meet their family's requirements at the right moment so they can repay them later.
 

I agree, I recently get a loan here in forum to provide my needs for medication. I don't have any option since my earning in a company is not sufficient and it makes me more anxious that's why I don't have any choice but to have a loan. Now I am searching for some side hustle so that I can pay my loan and other debt. having an illness is a big problem and can affect your budget so having a loan or borrowing is not a bad option if you don't have any choices.

At least people must first measure the limits of their financial capabilities before intending to take a loan. but often this one important thing is neglected by those who are addicted. But there are situations where they are forced to do so even though they realize their ability to pay may not be very good. What is really embarrassing are those who borrow only to buy branded items that they use to show off and prioritize style in their life. But those who borrow for an urgent need can still be considered reasonable.

It should be remembered that at first it was compulsion that this could become a continuation in addiction which makes them always have the mindset that borrowing is the only way to make their condition better.
Not a few things like this happen because their mindset has been set considering that the previous loan was paid off well which made them think about borrowing again with the same thought that this could also be resolved.
But on the other hand they never think about the worst possibility when passing and have to pay every month because indeed their belief is always in a state of full confidence.

Actually it's still the same as before and I agree with you about knowing your own capacity in this regard but on the other hand it's also not a guarantee because even if we are initially able to pay installments it is not certain that in the future we can comfortably do that too.

yes you are right. because we don't know whether our financial situation will remain good or not in the future. Well maybe before borrowing we feel our financial ability can handle it. but then after making a loan, the economic situation that turned difficult could drag someone who originally had strong financial capabilities into a weak one. So it becomes difficult to pay off the loan. Maybe these habits and addictions really should not be underestimated. Because well it is also not good for someone who has mature financial planning and wants financial freedom in the future.

Don't you think there should be a line drawn between borrowing money and managing to payback & borrowing money and failing to payback ??? I don't think its about quiting because if someone is paying back then there is no problem here...

Were are these stats coming from???

Btw when someone is getting these extra loans its more likely that they have the capacity based on debt service ratio, because if someone is to put the numbers together to see if you are in a position to payback with all other loans on your book, then you would never be considered for one.. But should the numbers read that you have some funds to spare then the extra loans will be approved.

Credit cards, Overdrafts etc all these financing options were meant to keep the economy  running as these mediums  are used to pump in money into circulation but the end user does pay the price.

Borrowing money is nothing to be ashamed of if we use it for necessary and essential purposes. I also used to borrow to cover my life, it can be said that it was a very difficult time, and the repayment was also very hard, it exhausted my strength. But if I don't borrow money, my family, wife, and children will face even more difficulties. As long as we borrow and pay in full, there is no shame because life will sometimes encounter unexpected difficulties.

People have always tried to copy their idols and in the age of the internet there is more influence taking place than ever before. Combine that with the convenience of buying stuff online and easy access to credit, it joins together in a very dangerous combination. A lot of the blame does go to the companies that are so eager to offer credit, often at outrageous and totally unfair rates to the people who find it hardest to pay back. There is also an element that you cannot save everyone, you can educate people as much as you want, but some people will always choose to live on the borderline between paychecks and refuse to acknowledge that there is a better way to live.

And hopefully most people are like the latter part but they're not.

And if they ask the same thing to the people that they've borrowed money and they never paid back, there's no hope for them and I am sure that they are aware of that.

It's too much if they are arrogant to ask them again for some loan when they've never have the guts to pay or ask them for some extension because they have no intention of paying them.

It's important to exercise caution when lending money, especially to individuals you don't know well. Verifying someone's identity and employment can provide some level of assurance. Additionally, collateral is often required when borrowing from a bank to ensure the repayment of the loan. If you are considering lending money to someone you don't know, it's essential to evaluate the risk and consider whether they can be trusted to repay the loan.

I'm afraid to say that it cannot be avoided especially for the ones who badly needed to borrow some money just to get through the day because their job is not paying that well to cover up their daily expenses nor can make them and their family eat as much as 3x a day. For us here, we can somehow say that we should consider something first and weigh some things before borrowing before it can put us to shame but for other people who doesn't have that much, shame and embarrassment is not really a big deal as long as they can survive in this harsh world.

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

There are various ways to stop borrowing one of them is living below your means and keeping a track of your spending habits

if you are an overspender then surly will be a borrower - but if you are not going to retun the borrowd money then it will be very dangerous

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

It is called investing a loan, which means when you tanking out some loan for investment like securities, real estaate or even crypto currency like bitcoin. of course this strategy can give higher profit but increased investment capital but this strategy also carries inherent risks. 

very right - better dont lend money. Because most of the time people just run away with money.

It won't be a gamble if you have knowledge on it but one of the reasons it is not advisable to take a loan for investment is that how will you pay it if your investment is not profitable or lose it all. Other will say it is okay as long as you can pay it and you can take the loss but again we wont earn any single profit or become a rich if we plan this if we only stays at our comfort zone, there are businessman that takeout a loan to start their business, it is only matter of the risk if you can take it but again only take those calculated risk and don't invest blindly

there are various ways one cam earn money. gambling is not always a great choice!

the biggest mistake is when you borrow money and the money is used to meet daily needs or borrow money with the aim of paying off previous debts is a ridiculous thing to do. until in the end you can't pay bills because the money you borrow is not used wisely and causes you to be in debt.

and what you have to do here doesn't mean you have to stop borrowing money, but use the borrowed money as best and wisely as possible. when you get a loan it means you get the opportunity to start a business because you already have temporary capital. thus you can have a new business and have additional income so you don't need to be confused anymore for bills every month because you get results from the efforts you make.

i have seen people borrowing money and wasting it like crazy. one of the reasons is that because you havenot earned it so borrower just waste the money.

But for now it's not easy to find people who are honest and always fulfill their responsibilities well in loans. So it's only natural that nowadays people are always reluctant to help other people in making loans. because too many people don't trust each other. and those things of course there are triggers. usually someone who can't pay debts not on time is because they are in a condition that makes it impossible to pay debts. and the creditor of course still wants to be paid on time. such things often happened and resulted in a drop in the level of mutual trust in one another. But being careful is the important thing.

People had been making money in gambling so it does not start today.
 A lot is happening and there is need for us to create a good business that would give us good earnings than for us to relax and think of using or borrowing money from people around us without having to stop the urge.

Borrowing or taking a loan isnt really that bad as long you do really know on paying them back.Things turns out to be mess is on just on the time that you would really be that irresponsible in regarding on  your dues
on which it would really be resulting into that kind of paying up huge interest and the worst you would really be facing up some cases due to that specially if you do took loan from lending firms or in the banks.
As much as possible then it would really be that recommended on not to take up some loan on which it would be ideal on making use of the funds you do have so that you would be able to avoid
on borrowing on which this is t he reason on why you do put up yourself into much trouble. This is why its really that important that you should be thinking up twice before stepping further
in terms or conditions like this.
Borrow or taking loan for the sake of business and investment is ideal but if you are really that just taking a loan for buying some no use things or simply with liabilities then it is really that hard
when the time comes.

I can still support this your idea. If one have other alternative mean of paying the loan if the investment fails then one can go ahead with the loan. This has once happened me, if not for my other biz I will definitely find it difficult to pay back the loan.

Some people don't know the reason why some people borrow money to borrow money is good but it depends on the way that you are borrowing the money for you can borrow money and start up a business and the business you have already known the route of the business so that when you invest the borrowing money or borrow the money then it will not disappear or lost so I believe that you can borrow money and start up a little business so in future time you can pay back the money and start making use of the profit

The amount matters as well. I won't blame someone who borrows money for investment if they borrow $1000 from the bank, but their monthly income is $10000 with no debts and they possess assets like a house, car, and gold. It truly depends on the circumstances when it comes to borrowing money for investment or business purposes. If successful, you'll reap the benefits, but if not, you'll only lose a small portion of your money.

This is a common strategy employed by entrepreneurs or large institutions, where they opt to borrow money when they secure a job or receive an order from a client.

It is illogical, someone will apply for a loan that is higher than their monthly income because if they apply for a loan of 10% of their monthly income then it is better to wait for the next month's income than to pay interest on a bank loan, usually they apply for a loan higher than 3-5x of their monthly income and they choose a time to pay off 1-2 years. Now is the right time to increase Bitcoin investment assets but it is better not to involve any borrowed funds unless you can handle loan repayments well.

begging all the time make a person repulsive - try to change your habit for better repersention of your personality and your own self.

No one truly knows the essence of each person's character when it comes to pursuing their desires. In fact, there are numerous 'unusual' individuals who continue to lead remarkable lives, defying conventional norms, and achieving even greater success. However, it is crucial to exercise utmost prudence when it comes to enlarging one's debts, ensuring that their value remains beneficial to our financial well-being.

Therefore, what I have conveyed still holds true for me, and perhaps others may struggle to embrace it.

This is the main problem that greatly affects the financial condition. income exceeds expenditure is a virus that must be overcome in managing finances. When your financial condition is down, you must be wise in borrowing money because there are several risks that will arise if your finances jam or fail to pay at maturity, one of the risks that cannot be avoided is that the installments will get bigger because the interest and fines continue to increase.
Policies in spending are needed to maintain financial health, you must control your money properly by cutting expenses and spending money wisely. Borrowing money to fulfill desires is not recommended because it will become a burden when paying due to not having a side income source.

The trend of 'living for the now' has indeed led to an unsettling 'outgoings > incomings' equation in many households. That's why we see the millennial generation dubbed as the "debt generation".

The wisdom to borrow is important but often overlooked. Lending platforms will always be happy to dish out loans but forget to add the disclaimer about the snowballing effect of interest and fines. It's like buying a smartphone on a plan and realizing later you could have bought two for the price you end up paying!

However, the solution isn't as straightforward as cutting expenses. It's about understanding needs versus wants and planning expenditures accordingly. A common saying among personal finance geeks is "Don't save what is left after spending; spend what is left after saving". Implementing such simple financial principles could be a starting point to financial prudence.

I can assure you that only few would do that, just that nowadays people have turned the way of living to a competitive standard whereby people don't even care where they are and what they got involved in living and expensive life. If there's an adjustment, then to also stop living expensive life I don't think in anyway we would live a life debt instead a debt free life, I myself have tried all I could to reduce and remove every unnecessary expenses in my family, whatever we don't want at that moment we skip it and go for the most needed ones by so doing we've eliminated lots of things.

Learnt many savings strategies reading this thread, I've never felt comfortable owing people or a firm, but sometimes things get too rough on a person and they'll need to survive on loan. I noticed that borrowed money burns like paper and people find it difficult to clear their debts even when the money is with them. It can be circled around their way of living life, they'll feel the money is not enough to settle the loan. The world is now complicated with people that can't control themselves from buying useless things, in the name of show off. What will happen to a person that use a borrowed money to fund his luxurious lifestyle? a lot of people do this to feed their timeline, opening a window for future obstacles. 

This are the mainly affected financial problems and they income expense crossed is one virus it must overcome in managing finances . In a financial situation is bad at the time we get borrowing we are obey like a brilliant if your finances jam or fail to pay at maturity, one of the risks that cannot be avoided is that the installments will get bigger because the interest and fines continue to increase.

Therein lies the problem and every person who is still alive must all need money to support his life, both being responsible for family needs, education and health costs. Sometimes people have an unbalanced income and expenditure scale, so they need to consider taking out a loan because when they insist on taking a loan, if it is not supported by a steady job, it will be problematic to cover monthly expenses.

The scale of need and use of loans is a priority that needs to be considered and try to see the worst potential when the hope of taking out a loan to support business trips is not as expected. For example, in the middle of your business trip, it doesn't grow or goes bankrupt, then what steps need to be taken so that you don't have problems with loans?

Any credit/loan institution will not give a damn about the controls in the business you are running and will never think of ruining someone's finances because they are running a business in this field. Borrowers must be progressive in seeing opportunities, whether taking a loan is the right solution or vice versa will put them in much bigger trouble. Get to know it first and study the impact before deciding to take a loan for any need.

Investing with borrowed money, especially in assets like Bitcoin, is actually more stupid than planned investing. While there have been cases where individuals have made substantial profits from investing in Bitcoin, it's really not that much, and I find it more fortunate than a well-intentioned scheme. Profit is not certain, so work, and once a case of loss occurs, I think life will turn into a very wonderful new chapter when debt is not paid.

It is a bad idea and even starting a business that's come from loaned money unless you're that rich type and you can pay that forward if ever the business fails. We can imitate what the rich can do but it's not that everything they do can be done because of the status that we've got for each of us.

It's the opposite, life will be better if debts are paid. If someone believes in karma and has taken a loan, he'll do something to get it paid until full but those that don't believe it, they'll just leave these people behind and the won't have to bother themselves pay the debt.

Thats why you should avoid on taking loans and borrowing money to pay another debt on which you are really that putting and sinking up yourself into much trouble because it would be continue to pile up until you would be able to realize that it is really that hard to pay anymore specially if the income source you do have is still the same. This is why whenever we do talk about financing then we should really be that wise when it comes to spending and we should really avoid to deal up with things which arent useful to us. Its not bad to borrow but only into those emergency times but for buying up something which doesnt  generate
income then this is where problem do starts.

This is why as much as possible you should quit on borrowing and this is where you would be able to see the relevance on having some savings fund. If you dont mind on having this one then
you would really be able to realize things when you are already on a tough situation.

I avoid charging transactions that are very high on my credit card. The rule of thumb that I have if I cannot afford the item then I cannot purchase it. Not knowing nor understanding that credit card companies make their money from interests and credit card fees that one just does not understand.

Interest itself burns a hole in your wallet and to some it can certainly lead into a huge credit card debt. This should be taught to children when teaching about money, knowing what a good debt is versus a bad debt.

This way it can help with understanding that having a credit card is a privilege rather than a necessity. Knowing this is how you cannot put large amounts of money to your credit card is a better financial decision in the long run.

Borrowing comes when one is in danger or life situation when there's no alternative and remedy before involving oneself in going extra mile to take a loan to sort out the problems, of which must have a work at hand that would enable one to pay back after gotten stabilized. People involving taking loan for what doesn't add value or meaning to life is what I won't be in a full support.

I think, This will be a bad habit if followed even though circumstances force us to cover our daily living expenses. what is the point of borrowing more money if it will only lead to further accumulation of debt. Our tendency to live beyond our means and increasing credit card debt add to this problem, threatening our financial well-being. let alone a credit card. My advice is if you can just stop that choice because I have felt it, it doesn't seem to pay off when we pay it monthly.

It's never going to be difficult to borrow money from somewhere when you are short of cash if you are brought up this way, for many people borrowing money has made debt a normal way of living.

I've heard stories and how some people use debt to make more money, but that's because these set of people are made differently, they are called strategist because they use the debt to create money printing machines and it work really well for them.

But there are some people that take debts for silly reasons, some takes loan for gambling and they put themselves in more problem, there is no point in taking loans and you end up in more debt disaster.

Your thoughts on fiscal gymnastics are pretty woke. Can't help but feel that "yup, this hits home" moment when you bring up the issue of grabbing a loan to pay off another. It's like digging an even deeper money pit, right? Truly, it turns into a whirlpool of IOUs and APRs, kinda like a financial black hole that gobbles you up the harder you try to escape.

Totally vibing with the concept that smart and savvy money moves are clutch. Dropping cash left and right can brew up a financial storm, more so if it's all going into depreciating baubles. On the flip side, prioritizing the must-haves and maybe a few boss moves in investments that deliver ROI could keep your bank balance from going red.

Your two cents on keeping a stash for the rainy days is on point. It's like the "in case of emergency, break glass" fund to combat those out-of-the-blue fiscal faceplants. A rock-solid savings game plan is your financial parachute that lets you sail through rough economic weather without falling into the quicksand of brutal loans. With the right fiscal playbook and keeping a tight rein on the spending spree, one can stay on top of the money game and ride out any storm.

Debt is not always bad, even many large companies have debt, they take debt with clear objectives and possibilities so it is actually good for them to increase their business.
but for people who are in debt for ridiculous reasons, one day they will realize about that stupid thing.
Debt has become commonplace in life, even now there are many ways to get into debt, but it all comes back to ourselves how to take advantage of this debt to be able to increase income in life or advance business.

Op did not mention borrowing money to invest in Bitcoin or other Cryptocurrency, this method is not recommended because the risk is very large if the asset you are buying is stuck while the loan payment is due. The contents of the topics discussed by OP are more inclined towards financial management so that expenses are smaller than income so that we avoid debt. Money is an inseparable part of making ends meet, but behind all that you have to have savings so you don't fall into a circle that can make your life limited by digging holes to close holes for borrowing money to pay off debts.

Borrowing for any investment purpose is very risky and also not a good idea, because investment is uncertain income except for long term and you have to think about paying off your loan every month. Unless you have a steady income that is bigger than your loan that you have to pay off every month, even then it will make you dizzy thinking about it every month because there will definitely be unexpected expenses.
and saving is the best solution to avoid debt and can also be used as a reserve fund so that your life is comfortable, no matter how small, saving is mandatory because over time it will become big. And the most important thing is that you have to be able to adjust your needs and lifestyle according to your income, and keep it to a minimum so you can continue to save.

the stupid thing that humans do is work continuously and can't enjoy old age because there are still debt repayments so they can't retire from their jobs. Prestige is one of the reasons someone borrows money or credit. when they work they are embarrassed if they have to go by motorbike or public transportation so they take years of car payments and when they have a family they are ashamed if they have to live with their parents so they take home installments. Continue like that, extend the installments until you don't feel old, but the installments don't go away, so you can't retire from work because you don't have any other income to pay the installments.

Doing business and investing is the solution to getting out of the work zone. But not everyone dares to get out of that zone, they think that if you do business the income is uncertain while the installments must be paid every month. and have no extra money to invest being drained by mortgages and everyday life.
the solution to these problems you must have the will, courage and seriousness in doing business. all you need to do to get out of the work zone is, by managing your finances so that you have the capital to do business and start investing. if you still can't leave your job or are in doubt then try to manage your time between work and business. later when your business is good you can leave your job.

I've read an author who claims that loan helps business owners to work hard, and they intentionally don't clear their depts because when they do, they'll feel more relaxed compared to the pressure that would have been on them if they were in debt. But, no essence of having the money and seizing to pay back a debt. In your view about people that don't believe in karma, I think it's the work of credit bureaus to take action on people who don't clear their debts. Some phone lending businesses use this method to disarm such customers or use their social media platform to trace them.

Borrowing and then investing is a way that many people use, especially those who want to get rich quickly in a reckless way. This really happened from the case of my friend who borrowed money online and then invested, he really got rich, but strangely he didn't hold his wealth for long, less than a year he went bankrupt and even left borrowing debt, that's even sadder than just unemployment , he is looking for a way to get out of debt with a simple job to pay off the debt but it is difficult to make ends meet.

unnecessary borrowing can be killing
There is a group of people who would damage the peace of other people for their own benefit.
they would borrow money and would just run away with their ugly desires but God is always there.

There are different types of borrowing;

• Borrowing  for Investment  Purpose
• Borrowing  because you are living above your income

I totally made up the 2 types of borrowing above. If you find yourself borrowing for an investment purpose, I do not see alot of problems with it. If you have a workable plan and investment idea, you could turn super rich.
But in the other hand, if you borrow because what you earn monthly does not sustain you, you are in the speed lane of living an unhappy life and which may lead to long time poverty. If you live above what you earn, don't borrow, just reduce your expense.

another type of borrowing because you people cannot withstand the thought that someone is rich is at ease
sometimes the very friends you trust leaves you in the lurch and you are shall shocked for what has happened to you!

the main thing in borrowing is the the character of the person. Some people and businesses are not good enough to be trusted. They can borrow money and can vanish. while others are very particular about dealing with their finances and these the successful people and business.

not always what you plan will go accordingly. Some plans may fail leaving you in the middle of nowhere.
So better live within your means and don't borrow or dont take loan unnecessary - try to manage the funds you already have and invest when you have surplus and you can afford the loss too.

I am somehow guilty of this- there will be times where I mismanaged my expenses and at the end of the day, I would end up loaning money where I pay interest rates weekly.

While this kind of practice is considerably acceptable, when it becomes a habit, it can definitely take a toll on the expenses. The interest rates that you pay keep increasing and you would not notice on how much money is loss due to this. At the end of the day, you could pinpoint the exact reason on why this happened in the first place- which is mismanagement of expenses.

I do hope that I get to manage my resources and control my expenditures by avoiding ordering too much. This really has become a problem over the past years and I wish that I break this habit of exhausting my money and relying on loans every now and then.

Borrow is not the good way of living,when you start to borrow from your friends.It will become a habit to you,you need to stop of begin the process.Because in the starting time,you will feel like guilty.Later you use the way to continue without any guilt,instead you can had some holding in the crypto currency.Then withdraw the funds on need and no need to request anyone for the money.

Borrowing is not advisable when it is been taken for a purpose that can't be used to make double of the money that was being borrowed.  I know companies and establishment borrow money to run themselves and doing this they make more money to pay back. It is very important not to allow borrowing to be an habit, it can run one financially.

As they say, money is the root of all evil

And it's not that new to us when it comes at money because this specific thing can really reveal the person's true character and identity especially if we're talking about huge bulks of cash. Even your friend who you have trusted the most will probably choose the money over you if he's on the edge and will forget what you two have been through just because of that, simple.

Sad to say but it is a reality in life, money can change things.

And regarding to the topic, if you don't know how to value trust borrowing money with your friends can be lead to a habitual
process, either you will keep asking for money and you will not be able to repay it, things that will separate you
with your friends or your love ones. Better not to dwell if you can still control you should stop asking for loan if it's not
for emergency or if it's not for investment that can grow your money.

Pamadar you are saying the truth. Money and woman are two things that destroy relationship, marriage and friendship. If someone is always borrowing money from a friend and the time he would or could not pay back the money on time, it might cause another issue among themselves. When you borrow and pay on time then there will be no problem, because probably the lender as also calculated when he retrieved the money on the promised day, he will use to settle some issues that is bothering him so when you could not pay the money on the time you promised might affect him lender's plan of action.

We need to be aware of our spending. We need to control our spending because if our spending is more than what we earn it is not a good sign for our life and our future. We need to increase savings rather than spending.The government and banks have to step away from setting new rules and regulations on credit cards. This is because the most common type of personal loan so the government and banks can control this situation by themselves when one increases the rate of return on his credit repayments. I think we should refrain from borrowing. Borrowing someone's heart is upset, and if you want to ask for the money you owe, you will see that the heart becomes depressed.

that is so correct - we need to increase our saving and try to live within our means.
The best approach to the practical life is to live within your means and not to borrow money from other.

Borrowing is not bad but it depends on what you want to do with the funds, some people spend borrowed money as if it is a personal fund, so many people have formed the habit of borrowing, I will even say that they are very addicted to it. The only way for this to stop is by restrictions from the appropriate authority, people should live within the confined of what they have in other to avoid borrowing because borrowing can make you poor.

Note before you borrow, consider the interest rate and make sure you have somewhere you want to invest it, so that the repayment won't be a burden for you.

Well paying attention to cash inflows and cash outflows in our finances is very important. At least everything has to be balanced. and the maximum we have to have more income than expenses. So that we can set aside money to save or invest. The situation that makes someone borrow is when the inflows and outflows are not balanced. i.e. our spending money is far more than our income. This is what makes someone compelled to make a loan. the solution to overcome this may be by trying to increase income. but it's not easy. but worth fighting for.

Without proper balance with your finances, yo'll end up loaning money to cover our lapses.

True, you need to add more sources of income to cover whatever is the need to cover in order not to barrow money
and to balance our finances, it's more about how you deal with your income and how you minimize your expenses and
maximize all possible resources.

I am don't like borrowing money, it really stressed me out thinking when will i finish paying it. (Actually my husband is the one who has loan, but i am the one stressing). Best to loan if you a splendid idea how to use, not just paying the loan but also aerning from it. Don't loan just for buying some unnecessary thing just to flex to social media.

The bigger your salary, the more you spend. That is really the problem with people right now, even myself. I've had that habit that I kind of say to myself that because my salary is bigger now, I can eat at fancy restaurants, which is really bad for finances. We can do it rarely, but it is really better to save because we can't prevent ourselves from borrowing from others. But again, it is really difficult to not borrow if your income is just enough and you also have another source of income. But still, if we have a chance to save, we should always save, as for sure we will need it in the future.

Lending and borrowing have been inherent aspect of human civilization since its inception. However, living beyond means and rely on borrowed funds to sustain your budget can lead to serious financial troubles in the long term. On the other hand, If you borrow funds from bank to expand your business, and your earnings are enough to cover monthly installments. Such kind of responsible borrowings is beneficial for business growth and leads to wealth creation in the long term.

 Even the government of most developed countries take loans from the world bank to sustain their economy talk more of normal individuals, just like you said many individuals in general have been there and taking loans have become a normal lifestyle for humans at large.
 But it's advisable to have a source of income before you embark on requesting for loans from banks or a wealthy individual, only a foolish man would take a loan without having any job to clear his  debt, I've witnessed a case where a man took loans from a rich merchant to clear his house bills, he might have solved a part of his problem but has attracted another problem to himself which might turn out embarrassing if he can't meet up paying up.
 There's a saying that "one should cut their coats According to their sizes" which means that you shouldn't do beyond your capacity in orherwords know your worth, when you're spending beyond your earnings you might be forced to borrow money which would make you be in debt and suffer financially, however taking loans is not a bad idea when you use the funds on a good investment.

Your advice is good in terms of loans and their potential impact on someone's financial well-being but I think it's good to clarify by mentioning reliable cryptocurrencies so that the OP understands and doesn't make the wrong choice in investing and in terms of withdrawals too.

by now, the OP should know what to look for when it comes to alt market investments. but if you ever decide to explore your opportunities in crypto, better not to take a loan just to invest in any market. this is a volatile market where you don't know if you will get profit or not.
it is better to live without debt, as you can sleep peacefully without anyone hounding your back. some lenders are annoying as they will harass you to settle your debt.

When facing financial difficulties, it can be challenging to avoid borrowing money. However, continuously relying on loans can lead to a cycle of debt that is difficult to break. One way to break this cycle is to create a budget and stick to it. Start by tracking your expenses and identifying areas where you can cut back. Another option is to increase your income. This could involve taking on a side job or finding ways to monetize your skills or hobbies. You could also consider selling items you no longer need or use. Prioritize paying your debts. Focus on paying off high interest debts first such as credit card balances, as these debts can quickly accumulate and make it even harder to get out of debt.

That's what I would advise to anyone with debts. Unfortunately, many people wouldn't listen. Typical situation: having many debts already they are taking a loan to go on holidays and spend it on buying unnecessary things. Then they have more debts than before, and it's harder to deal with the situation.

Guys, take on a side job and pay off all your debts first. Trust me, you'll feel happier than after any holiday when you are free from all your debts.

Those who continue to carry out debt and have meager income, I think they really don't realize their own financial capabilities,
if the debt is used for a business where it will generate profits and can pay it off it doesn't matter,
debt for fun I think it's a stupid decision.

You are right in what you are saying, as long as you don't let yourself be unable to pay the debt, and it is not bad to be in debt either. Just do it the right and proper way of using it. The others are able to do it and use it just because of their luxury and boasting to people.

But as much as possible, avoid it becoming a habit because you might not be able to control yourself and the time comes when you don't realize that you are buried or drowning in debt.

If you have to make clarifications by directly mentioning cryptocurrencies, I think stablecoins are better to borrow. Because apart from the price being always stable in the market, stablecoins are also easier for everyone to pay for so that the return will not be too complicated for the borrower. In addition, each borrower can also directly use stablecoins for the investment he wants, like the Bitcoin example, because with the profits he gets through Bitcoin investments, he can also collect them to repay loans he has taken on other people.

But I personally always don't want to make a loan if it's for investment, because I'm still worried that I can't repay it on time, even though the investment objective is for Bitcoin. So my advice is if you can, don't take a loan to make an investment, but try to collect the capital first and then use it to invest so that we ourselves won't feel too deep a burden when we have made our own investments in assets like Bitcoin. (for example).

Actually it can be done, but when we get used to being in debt then that is the beginning of real difficulties. Let's just say we are currently in debt, and we can manage all our finances at the same time we can pay off debts on time and without any difficulty. Well in the future we will think the same thing from our experience at this time. We will think that in the past we can pay it off without any obstacles, and from there we will start thinking about starting to owe again, even though, at that time we did not have an urgent need that required us to take out a loan. So things like this actually backfire on ourselves, and we also don't know what will happen next.

Countries, Nations etc obtain loans mostly for infrastructural development these are necessary projects for the purpose of making life easy for their citizens, however there are some individuals who obtain loans to spend on trivial things like embarking on spending spree just for show off, this is very common in my community infact some obtain loan to buy stuffs for festivals while paying through their nose in offsetting their loans to avoid defaults, most of those loan are not necessary at all because some defaulters ended up losing some of their assets (cars, houses etc)  used as collateral in the process of obtaining the loans.

Borrowing could be option for problem facing with financial difficulties but in cryptocurrency stable coins are recommended for borrowing than try with other coins has fluactive price later when repayment deadline coming. But always be careful with loan interest and how much percent each month or repayment full duration until how many months. Looks not recommended if you want use borrowing fund for short term trading because can't guarantee to earn profit consistency every day, but for long term investment looks beneficial depend first time investing in bitcoin or other coin when price dump.

There are lots of factors that cause someone to go into debt or take loans several times, they need money urgently, so they have no other choice but to borrow. An unsupportive economic angle will make it very possible for them to choose to borrow and then pay it later. This is not wrong and it is natural, but if we too think borrowing is normal then this is the beginning of a loss of balance in someone's finances, where every month their salary is only to pay off debt. We must be careful in responding to this, it will be very dangerous for someone who has experienced addiction in debt because there will be very many negative impacts that he will feel later in life, not a few of them are stressed and even end their lives because of the impact of emotional pressure what they feel.

There are various instances and methods through which individuals and even companies obtain loans. When someone reaches this point and is obligated to do it’s undoubtedly due to a bad situation and there is no positive outcome associated with borrowing money. But also we cant say that every borrowing is entirely negative particularly when it comes to health concerns where you are short on funds for necessary hospitalization or medication. I personally been in such situations.
Beside that i have seen numerous cryptocurrency projects that offer money lending opportunities with returns for the lender one of them was the famous blockchain wallet so in my opinion borrowing is not always a bad thing and can prove beneficial in several scenarios.

Yes, not all does have that kind of life on which having that sustainable living or having that financial capability on which it would really be that understandable that people would really be having those kind of options

on the time that they would really be experiencing shortage of money on which it would really be that understandable that they would really be taking up such step on the time that there's no other way or solution on which they could really be able to touch on.This is why it would really be just that normal that people would really be taking some loans despite on knowing that they would really be paying up some interest on which
it would really be that a common approach that they would really  be that consider on borrowing despite on being at disadvantage.What choice they do really have?
As long you would really be that responsible with your loan and able to repay on time then i dont see any problems with this.

Taking loan is not bad as long as borrowers know their limits, it will totally depend upon your need, you are taking loan for what? asset or liability, let me clear these two things asset mean which give you income and liability mean which take income from you. In my opinion if you are taking loan for liability then you should avoid the loan. If you want to invest in asset such like house, making up business etc which can give you more benefit with right income then you can borrow loan three is nothing wrong.

Borrowing is "bad" - that's a strong statement. I'm fascinated... and dubious. You appear to associate borrowing with financial instability, which is not entirely untrue. Consider a world without borrowing. No mortgages, business loans, student debts... Enjoyable, right? Hold on! How would individuals buy homes without loans? Small companies' growth?

Healthcare loans turn the tables. Such loans can save lives. Isn't it odd? Shouldn't society's healthcare cover these costs? The cryptocurrency loan argument... I'm doubtful. Crypto loans provide benefits, but aren't they risky? The borrower defaults - what happens? Doesn't that sound like a stomach-turning roller coaster?

Í agree with you, there's nothing wrong about borrowing if you know how to use it wisely. We learned about this before and borrowing can be a good thing if it's done in a good and smart way. However, a lot of people just use their borrowed money on their leisure. I understand that sometimes we get tempted to get our wants, and we often use credit to acquire them. But if we know how to properly use our loan and make use of it to gain money, there's no need to quit borrowing.

Regardless of the loan used for things that are not so important, we must make a limit on the amount of assets we have with the number of loans we take.  Many businessman depend on loans for their business but still limit it to under 20% to 30% of the loan amount with the capital and assets they have. Its looks efficient because they can manage well with how much loan taking and loan interest have to pay. However, taking out loan other than for business needs does not seem to be recommended and we faced difficult for repayment loan interest.

That's precisely what i was trying to say: many things can be accomplished with loans and in many cases where these loans making people’s lives better such as purchasing cars, houses, paying medical expenses, and funding education. It's evident and clear that nobody wants to borrow money aimlessly or solely to appear rich, but rather out of urgency and necessity. Furthermore financial institutions and lenders study your situation and repayment capacity and time of fully paying back your loan that how they are charging interest rates also.
Borrowing is a double edged sword it can be so bad and risky for both sides ( the one who borrow and the one who’s funding), yet it can also be a lifesaver in certain situations.

It's not the pleasure of being in debt or the habit of being in debt. Many people who are in debt certainly want to have all their needs fulfilled without being in debt. But sometimes there are circumstances that force you to be in debt, until it eventually spreads to other debts and in the end you have a lot of debt.

What you say is true, if someone is in debt just to fulfill a lifestyle that is a very stupid action. But there are some debts that need to be done if we do business, because having debt for doing business is commonplace because our money is rotating so that we get the advantage of repaying debt or paying every month. Another mistake people owe so that the debt becomes negative is in debt but he has no income so that the term dig a hole to close a hole occurs because he pays off debt by getting in debt again.

Loans for unreasonable consumption, or loans to pay off loans, are exactly the real evil.
The problems are several.
The first is that credit is now absolutely available, and taking out a loan is easier than drinking a cup of aromatic coffee.
Second - the population of many countries. completely lost logical thinking, or rather uncontrolled consumption triumphed over it.

This is the main problem.
Oh yes, and a little "trifle" is the unwillingness of these individuals to get their heads together and learn to CREATE MONEY instead of LENDING MONEY.

If someone wastes money by taking loans unnecessarily then it can turn into a nightmare for him. But if someone takes a loan and invests that money in a good place and if he gets good quality profit from it which is more than his loan interest then there is no problem with his loan on the other hand the loan will play a big role for him. So in all cases taking a loan is not a bad thing in many cases a loan works as a boon for a person

One case of debt, which I believe that you are referring to, is unnecessary debt. Debt that you otherwise did not actually need to take to survive. Debt such as for retail spending, luxuries, non-necessities. I fully agree with you that borrowing for this purpose is irresponsible, as all it does not take long for it to become a trap, while the assets/spending are worth much less than the value spent at the time of purchase.

On the other hand, borrowing for survival is sometimes the only way forward. At this point there's no real option but to extend the timeline and try to figure out a way with the additional time.

My other idea is borrowing for investment. It's the age old question with Bitcoin for example - Should you borrow to invest in Bitcoin? The answer is usually no as it's considered a gamble, but history proves otherwise. I find this topic to be most interesting when it comes to the purposes of borrowing.

All of this includes difficulties in self-control, indeed no one denies that borrowing for unreasonable interests or loans to pay off loans is an actual crime, but everyone who already knows will do that when they find it difficult to control themselves.
I'm sure almost all of us have experienced this situation but we are slowly changing our thinking to create more money than borrowing, and it will continue to be repeated for generations at any time in this world without stopping.

Indeed, it is not a bad thing when we borrow and know what to do with the loan and if we only borrow occasionally because there are some needs of course it is also not prohibited.
The problem is that when someone tries to do that, the dependency gets bigger so that when they want something for example but don't have more money then they will continue to borrow with the previous conditions also running smoothly and when the dependency gets bigger and bigger it will make difficulties for themselves and that's what is worried about.
Moreover, if that condition already occurs, there is another condition where they try to borrow from others in order to pay off their previous debts which makes it even worse.
We must know our own limits even though loans are an option and it is not wrong to do so but we also have to control ourselves that we should not be dependent on something like this because this could damage yourself.

Yes, right, not everyone wastes money in bad ways with loans. There are some people who put some good people in the society in a very bad situation. There are some people who try to grow their business with loans.  Or lose money by gambling and take loans to pay them off. I think good people are insulted to some bad people in our society. I like those who do good work with loans.

Basically, loans are not always bad, it depends on what we do with the loan money,
but it must be admitted that the stereotype in society is that people who have loans look bad,
if you look at it broadly, actually in a company, be it big or small, you definitely have a loan.

Knowing your limits and preventing you from over using your capabilities to loan money.

It's important how to minimize your expenses and how to maximize all the needs and not the wants to properly budget your
monthly incomes, loaning is not bad if you know how to take care of your finances, occasionally you will be in need and you
can't avoid to ask for a loan. The lesser you barrow the better to keep you away from difficulties paying it back.

Very well spoken mate, youve said the truth and nothing more, every one at some point must find the need to take a loan, borrow money, what ever terms we wanna use to describe it..

Even big business men still go to banks to borrow money to Finance their next big business venture, or for other really important things, like saving a life and so on...

Taking alone particularly is not a bad thing, but then, the purpose of the loan and what plans put in place to make sure the loan is paid back in it's due time, is what determines at the end of the day, whether taking the loan was a bad decision or a good one.

In here when it comes to borrowing as long as you can pretty much pay the debt or loan in the matter of time then you should be fine. Borrowing should be fine and pretty much the only thing you can do when you are short on money and need to buy some urgent things with that money, at least in 3rd world country that's pretty much a normal thing to do.

But once the borrower doesn't pay their loan then it makes the new problem and you might ended up with the loop to borrow more money from different people/banks. You don't want that.

Therefore, it is important to be introspective and not push too hard here because when we push too hard and make prestige bigger, this can make you forget yourself so that you don't know the limits of yourself.
Living in accordance with income is one of the things that cannot be released so that with this the expenses we have do not exceed the limits that should be.
Indeed, in this case borrowing can be an option but once again if life is only focused on prestige so willing to borrow then it will not be healthy at any time.

There are many loans for self-satisfaction without thinking about the benefits of the loan that must be generated, there are also loans to pay off loans, this is digging a hole to close a hole.

Credit cards indeed make it easier for us to shop, do something very practical but we never see the interest from each month is high, maybe those who use credit cards are complacent with the discounts that are given every shopping even though it is a trick which is for regular users use it that it's how they get into credit card loans.

Their thinking is which one is easier to use, they don't think that it comes from a loan, I think many people have done this on any loan.

where i live, i also see that there are still many phenomena of people borrowing to spend on necessities which are not really their main needs but to fulfill their luxurious lifestyle. as a result, many people were in debt and had their assets and property confiscated.
somehow i am actually still confused with the mindset of people who borrow to just want to look rich and satisfy their luxurious lifestyle. with low incomes but still taking out loans just to show off that they too can afford it like everyone else has.
indirectly they worsen their own future and in my opinion they have lost their common sense and mindset which is closed with jealousy and does not want to lose to those closest to them.

Borrowing for survival is not a good way forward. I don’t even see it as a way not less the only way forward. If an individual borrows for survival, then that individual would probably not survive for long. No reputable financial institution would lend such a person due to extremely low or no credit score. The person would then be forced to borrow from an alternate source that would not be so patient or understanding when coming to collect the repayment of the loan.
Not a good idea to keep on borrowing to survive.

That is true that living beyond our means is one of the primary cause of ever increasing habit of borrowing money. But we could still control and discipline ourselves when it comes to borrowing. We need to have a specific budget and allocation of our funds for our basic needs if we could cut off eating at fast foods everyday maybe it is better to cook at home and bring food at work with that we could save money. Take control of ourselves try to identify your needs vs. your wants. If the things you will buy is just a want it is better to cut it off, buy only that is needed. It is hard to live beyond our means because it will end up borrowing money and sometimes if we continue that lifestyle it would be harder to pay back the money we borrow. It is better to control and discipline ourselves and quit borrowing so that we could have a peaceful life.