Quit borrowing

[wahyuagung26]

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.

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.

[1714715610]

1714715610

[1714715610]

1714715610

[1714715610]

1714715610

[1714715610]

1714715610

[1714715610]

1714715610

[bastian466]

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

[bettercrypto]

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.

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.

[n0ne]

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.

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.

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.

[kro55]

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.

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.

[Poker Player]

Borrowing is normal.

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.

[Farma]

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.

[BobK71]

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.

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.

[LogitechMouse]

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.

[Rruchi man]

The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing 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.

[slapper]

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!

[dothebeats]

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.

[KiaKia]

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.

[bakasabo]

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.

[Uruhara]

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

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.

[Hyphen(-)]

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.

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.

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

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.

[Salahmu]

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.

[raidarksword]

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.

[Dzwaafu11]

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.

[Dickiy]

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.

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.