Quit borrowing

[bitLeap]

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.

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.

[1714721915]

1714721915

[1714721915]

1714721915

[1714721915]

1714721915

[1714721915]

1714721915

[cozytrade]

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.

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.

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

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.

[Inspiron14]

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.

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.

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

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.

[Pamadar]

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.

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.

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.

[Fivestar4everMVP]

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.

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.

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.

[sulendra12]

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.

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.

[bitLeap]

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.

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.

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.

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.

[salad daging]

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.

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.

[Fullcoinese]

In most cases one can't do without acquiring a loan but one should stop getting loan for unnecessary things

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.

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.

[Iroh]

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.

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.

[nesty]

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.

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.