Quit borrowing

[CODE200]

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.

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.

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[cydrix]

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.

[Baoo]

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.

[Smack That Ace]

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.

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.

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.

[Wong Gendheng]

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.

[CryptSafe]

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.

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.

[_BlackStar]

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.

[SOKO-DEKE]

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.

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.

[uswa56]

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.

[panganib999]

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.

[MainIbem]

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.

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.

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.

[Fortify]

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.

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.

[indah rezqi]

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.

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.

[sokani]

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.

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.

[beerlover]

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.

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.

[Uruhara]

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.

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.

[ChiBitCTy]

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.#/

[andriarto]

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.

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.

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

[Semar Mesem]

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.

[Jawhead999]

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.