Nobody don't want to borrow money but they need to do it

[G_Besar]

There are two groups of people that would not borrow money money in person but they still borrow. The wealthiest people in the society do not borrow money because they have enough yet they borrow to expand their business and the second group is the very poor. They are afraid to borrow because they don't have much to pay ba the loan yet they borrow when the emergency comes.

These two groups are always easier to distinguish because of their vastly different circumstances and status. However, poor people can also borrow to expand their own businesses, as long as they already have a business running smoothly before taking out a loan to expand. Wealthy people can also leverage certain parties to earn interest on their deposits, as the money they deposit will also be used to lend to others in need. So, in the case of lending and borrowing, some people also use their cunning to profit from the people they help with these loans.

[bettercrypto]

Borrowing of money is not encouraging to me at all . Because most time it don’t usually ends well , I avoid anything that will make me to find myself in a state of finding ways or how to borrow money . That’s sometime some folk will have the mind to borrow money to start a business and at the end the business fails such folk will be in debt , that’s why you have to do things according to your own resources only when you can thing of borrowing is when the thing you are using it for is sure , for instance a business with a high probability of making good profits .

Well, when it comes to borrowing one just need to be careful and to under when it is needed. Borrowing money is not really good for any business expecially the one that you have never had experience about it before but if it is s business that you are in already and you understand the profit of the business then borrowing can be considered because you already understand how profits are gotten for the debt tp be paid back. It is very important for people to be very care on how they go about borrowing money in their business, so that it won't affect the growth of the business.

Borrowing money is not a bad thing; it just depends on the borrower and how they use it. Now, if the reason for borrowing is just for luxury and not for an emergency,
it's not an advisable or practical thing to do.

If you're going to use it for a business but don't yet know what business to establish, it's still not recommended because there's a high chance that the borrowed funds will just be wasted. But if you're knowledgeable about the business you plan to build, then I think it's okay to borrow as long as you know the business you will be managing.

[Crypto Library]

The worst time to borrow money is when you are in need or in crisis. If you have an option that can make you ensure that phase it's best to avoid the loan taking that loan is not going to solve anything instead it's only going to make it worse. If rich people can get into debt problems how do you think someone that's poor can handle it especially if taking loans that has to do with paying back interest

Even if you call this the worst time to take out a loan, I would say that only in such situations should we take out a loan. Otherwise, in other situations, we can get by without taking out a loan.
I would say that taking a loan is not a bad thing in these cases when you are in a very critical situation, but we have to remember that money management has to be done in such a way that we do not have to face such a crisis situation, in this case we have to reduce our overspending.

[gunhell16]

Borrowing of money is not encouraging to me at all . Because most time it don’t usually ends well , I avoid anything that will make me to find myself in a state of finding ways or how to borrow money . That’s sometime some folk will have the mind to borrow money to start a business and at the end the business fails such folk will be in debt , that’s why you have to do things according to your own resources only when you can thing of borrowing is when the thing you are using it for is sure , for instance a business with a high probability of making good profits .

Well, when it comes to borrowing one just need to be careful and to under when it is needed. Borrowing money is not really good for any business expecially the one that you have never had experience about it before but if it is s business that you are in already and you understand the profit of the business then borrowing can be considered because you already understand how profits are gotten for the debt tp be paid back. It is very important for people to be very care on how they go about borrowing money in their business, so that it won't affect the growth of the business.

I agree that we should be cautious when borrowing money, because we might be the ones who struggle in the end. We just need to be smart about how we use the money we borrow.

Often, people borrow because they want to buy something they can't afford with cash. Others borrow because it's a real emergency and they don't have savings for unexpected situations.
Then there are some who borrow for a business but don't manage it properly, and it all ends up being for nothing. That's why we need to manage our borrowed money wisely. For some people,
it has become a bad habit, which is not a good behavior to have.

[Justbillywitt]

For a country or an individual that is self sufficient and economically intelligent, borrowing does not occur for them even in crisis situation, not bad to get a support, but borrowing definitely do more harm than good most especially those credits that come with high growing interests. The best thing in this situation to avoid borrowing is to have an emergency founds a d multiple cash flows, so countries and individuals need to be more productive to avoid unwanted borrowing that eat up their savings and revenues in the long term.

Borrowing is not a bad thing especially when the borrowing is being channeled into production of economic goods and services. The only time I see that borrowing is not good is when you are borrowing for consumption purposes, and funding of luxurious lifestyles. Even the biggest companies and nations do borrow money for production and upgrading of infrastructures. Before you borrow money ask yourself if the business you are borrowing for can produce the required profits needed in servicing the loan. Sometimes one needs to borrow to expand their businesses and boost sales, thereby generating more profits.

[Jody.Drummer]

Sometimes, urgent circumstances force people to borrow money, whether from a bank or from someone close to them. This is why having an emergency fund is crucial, as unexpected circumstances may require funds to address them. However, I understand that everyone's financial situation is different. Some earn only enough to cover basic needs, such as daily expenses, and have nothing left to save.
However, many people are obsessed with living a luxurious lifestyle, sometimes getting into debt just to satisfy their desires. This is a mistake. My neighbor is currently in debt because his lifestyle follows trends like gadgets and vehicles. He doesn't really have the means, but he insists on paying it off. As a result, he's struggling to pay it off.

[Nothingtodo]

A borrower is forced to take out a loan when all his savings are gone and he has no other option. By taking a loan from a bank at high interest rates, a person faces more losses than gains. When a person has to repay the loan amount, including the principal, by taking a high-interest loan from a bank or a loan with compound interest, the harm done to the person outweighs the benefit. A person has to be highly productive so that he can avoid this danger without taking on debt. Therefore, he has to be productive and save so that in times of danger he can use the savings made in the past and always avoid debt.

[Solodoski]

For a country or an individual that is self sufficient and economically intelligent, borrowing does not occur for them even in crisis situation, not bad to get a support, but borrowing definitely do more harm than good most especially those credits that come with high growing interests. The best thing in this situation to avoid borrowing is to have an emergency founds a d multiple cash flows, so countries and individuals need to be more productive to avoid unwanted borrowing that eat up their savings and revenues in the long term.

Borrowing is not bad, but your reasons for borrowing determine if its worth it or not. For individuals taking a loan for an investment is good, because your investment or business will generate profit and it can be used to service your loan and hopefully break free from it, but taking a loan for luxury use, I don't thinks it's advisable.
Countries definitely need to borrow to help it develop, because I have never seen or heard of country that develops without borrowing. So it's very important for such countries to put the money borrowed to good use, so it can help develop the country.

[_BlackStar]

-snip-

Borrowing is not bad, but your reasons for borrowing determine if its worth it or not. For individuals taking a loan for an investment is good, because your investment or business will generate profit and it can be used to service your loan and hopefully break free from it, but taking a loan for luxury use, I don't thinks it's advisable.
Countries definitely need to borrow to help it develop, because I have never seen or heard of country that develops without borrowing. So it's very important for such countries to put the money borrowed to good use, so it can help develop the country.

I agree that not all loans are bad - the difference is the purpose. If the main purpose of the loan is investment, you'll likely need to provide some documentation, including monthly payslips or other evidence, as banks won't wait for investment returns to repay the loan. Borrowing for lifestyle is obviously a bad idea - but some people also borrow to survive.

If someone wants to take out a loan, they need to ensure their cash flow is not hampered by monthly bills. Banks require several documents as collateral and your application may even be rejected after they review the documents. In my opinion, not borrowing for investment is a good idea, meaning you shouldn't force yourself to invest when you don't have the money.