Quit borrowing

[Cryptock]

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.

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.

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.

[1714730658]

1714730658

[og kush420]

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.

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.

[qwertyup23]

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.

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.

[usekevin]

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.

[Y3shot]

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.

[Japinat]

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.

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.

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.

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.

[Pamadar]

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.

[Agbe]

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.

[Gulttam2a2]

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.

[Theones]

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.

[Promocodeudo]

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.

[Uruhara]

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.

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.

[Pamadar]

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.

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.

[adiksau0414]

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.

[xSkylarx]

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.

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.

[Sayeds56]

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.

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.

[Sakanwa]

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.

 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.

[Velemir Sava]

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.

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.

[AmoreJaz]

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.

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.

[smile1218]

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.