Quit borrowing

[knowngunman]

not everyone has sufficient funds to run and advance their business.
I think borrowing or debt is a way to improve one's finances, the positive value that can be taken from borrowing is the responsibility to pay it so that you understand how to manage finances.
as for what needs to be avoided from borrowing or debt is to avoid looking like a rich person, in my opinion that needs to be avoided, and don't put too much emphasis on excessive style by using borrowed money or debt

Debt has been and will continue to be part human life. Some of the richest men are using loan (debt) to run their businesses. In fact, even government that suppose to be providing loan and financial services to her subject is entirely free from both external and internal loans. The argument should not be about whether or not to take loan but we should focus on the purpose the loan is meant to serve. An average man takes loan even when it's not necessary. How can one take loan to marry? And will probably continue paying the debt even after divorce. Marriage per say is never a must and you can do better without it. In essence, takin loan should have cogent purpose and should be utilized very well in order to be able to pay back in time. When you take a loan and squander it, to pay back will be very difficult.

[MiF]

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.

Well in my part as long as there is no emergency reason i will not borrow money, because borrowing money is easy but paying the interest of it is very hard, it is better that as long as we can afford our basic needs we will not borrow money because borrowing money will not help us to become rich it will only bring us more down and it will make us poor.

[noorman0]

Since the loan will generate interest, it will be a disaster if it does not succeed in extracting the "benefits" from it. Borrowing to cover the necessities of life will never end with a monotonous level of income. I'm not calling it wrong to borrow for "feed," but people should want to borrow just to expand their business to avoid failure.

[tjtonmoy]

Borrowing is a complicated thing. If you know how to deal with, you are good to do it. But if you have no idea and only thinking that I will pay it back somehow, then you are in trouble.
You need a good plan and an income source to cover up the expenses for you to pay your debt back. If you don't have that ability, then it is better not to borrow in the first place. And borrowing something from other source to pay off your previous debt will lead you to more debt in the process. But if you are already in debt and finding your way to pay them back fully. Then make a strict spending habit and create a plan on how much you are able to pay back and act according to plan.

[Kasabus]

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.

Most times those who find themselves taking loans, even more than they would have need of or even should they have need of them are those that have not been able to properly make plans and archive them.
I believe there are always options to keep you away from taking loans if one could make proper plans by visualising and speculating when your most likely with a 99% accuracy get your next income or fund and program when or how long it's likely to last or going to exhaust. You have better chances to living a healthy life that keeps you off borrowing. Some people just jump into borrowing because the facility is there and that's a bad way to actually approach taking loans. Its supposedly a last option, a do without and mainly, should be used investments that is sure to bring returns so, you could be able to meet up with the refunds and the interest that might be attached if any.

I have to agree on you that majority of those who resort into borrowing are those who fail to plan ahead of time, and when they know they’re out of budget, they eventually decide to take loans to cover up the budget shortage. However, there are also some of those who can’t get rid from borrowing because they are not making sufficient amount of income to sustain their needs considering that most of the necessities nowadays are having consistent price increase due to uncontrolled inflation. So no matter how they tried to live below their means, they will always end up having financial struggles.

[Jwest]

Owing depts is like being enslaved until you've paid off... And owing unnecessary loan can be very hard to pay off keeping you in an unhealthy financial state.
What I'm saying is never you borrow to invest ... It's unhealthy.

[rhodelmabanal]

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.

Borrowing money is not a joke it can make our life more worst that today if we cannot used the borrowed money in a good way or business, if we borrowed money for our vice's and the borrowed money slowly disappear without any return profit then that was a bad idea, but if the money we borrowed will be used in a good way or a good business with a big profit then it is good. Borrowing money is not always a bad idea if you have a good plan on it all we need to do is to be more wise for good.

[SirLancelot]

Well in my part as long as there is no emergency reason i will not borrow money, because borrowing money is easy but paying the interest of it is very hard, it is better that as long as we can afford our basic needs we will not borrow money because borrowing money will not help us to become rich it will only bring us more down and it will make us poor.

If only people like you save money or have a savings with them, this is the one that you will be using when you are in for emergency and not going to borrow money from someone else. Borrowing money in the past is hard. There are different process and most importantly they require a good collateral but nowadays it's now easy and you can even borrow without any collateral but it doesn't mean you can now run away and plan to not pay the loan because they still have your personal details and you can be reported to the authorities.

It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.

[Queentoshi]

Since the loan will generate interest, it will be a disaster if it does not succeed in extracting the "benefits" from it. Borrowing to cover the necessities of life will never end with a monotonous level of income. I'm not calling it wrong to borrow for "feed," but people should want to borrow just to expand their business to avoid failure.

Borrowing is bad and same time necessary, when someone go for loan to feed or take care urgent situation, which will now add interest then is bad. and when one collects a loan to start up a business is also bad, because is a new business is not sure if the business will succeed or fail, so is a very bad idea to borrow money to start a business, but one collect loan to expand a business then is not that bad because the business is already there is just to expand the business. so, borrow for the right purpose, never borrow money if you don't have any source that will enable you pay back.

[Findingnemo]

It can work in both ways depends on what is our strategy to pay it back with the money we borrow but practically someone can't take a loan when they are already in debt cause there credit line will show the instructions about pay back power of a person so they can only get it from someone they know which is hard to get as well nowadays.

Change your spending life style, don't trap into the lifestyle inflation that is where most middle class working people get trapped.

[bosede1]

Many a time we need money to sort out some unforeseen contingencies, and this is not a result of any lavish spending of all sorts. In this scenario now the person in charge has to borrow to fund such an occasion. When it becomes so frequent and the reason is for frivolities, then it is not okay.

[Bollexz1]

I certainly wouldn't disregard loan taking from my perspective as it has helped me many times more than I could ever imagine. As long as the interest added by the organization isn't dubious, then it's a yes for me. Loan taking is meant to be spent wisely and not lavishly.

[Iroh]

If only people like you save money or have a savings with them, this is the one that you will be using when you are in for emergency and not going to borrow money from someone else. Borrowing money in the past is hard. There are different process and most importantly they require a good collateral but nowadays it's now easy and you can even borrow without any collateral but it doesn't mean you can now run away and plan to not pay the loan because they still have your personal details and you can be reported to the authorities.

It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.

Admittedly, the process of taking out loans has become less stringent than it once was. This, however can be said to be a ploy to attract more people who are willing to take loans.
We should understand that whenever a bank gives out a loan to a customer, it’s primarily to make more money for itself and not to actually to help out the customer with his emergency needs. We shouldn’t look to the bank as a Saviour of some sort whenever we need a loan. Banks care more about making more money out of customer deposits in their custody.

Borrowing money to either start or grow your business isn’t such a bad idea cause the potential to make some profits from your business is there. You could actually pay back your debts to the bank comfortably if business is running smoothly. Personally, I think if someone can borrow money from the bank or wherever to gamble in the hopes of winning big, then that individual has a gambling problem that would no doubt further help ruin their finances

[passwordnow]

Owing depts is like being enslaved until you've paid off... And owing unnecessary loan can be very hard to pay off keeping you in an unhealthy financial state.
What I'm saying is never you borrow to invest ... It's unhealthy.

Credit cards are offering benefits and points and that's why people who own that like them. As long as you're a wise and disciplined spender, you'll not have any troubles with it. And I'm against with taking loans just to have an investment, it's a big no for me. You only invest with your own money and not with someone's money even if you're okay to pay with interest on it. Instead of taking a loan and paying its interest, just save a little by little and use that money as the capital you want to be so that you won't have any burden if your investment is unsuccessful.

[freedomgo]

Loan or simply borrowing money from other people could be a negative condition of an individual. But ofcourse everything has good and bad side. A good side of this thing is if the individual to make a loan has plans on the amount such as putting it in an investment which has low risk such as starting a small business or even huge such as properties/ apartment. Actually, business owners are taking huge loan to start a business and they are making that business pay their loan, to maximize the money and make it efficient. However, bad side of borrowing or loan is when an individual has no plans of how the money would be paid 'coz eventually it will all be consumed which would put the person at the edge of be needing money again. Bottomline is, borrowing whether it is good or bad, depends on your intention and action to make.

You’re right mate. Borrowing is not all the time bad, neither good. But as long as your intention is to make it more productive like taking chances through investing, or because emergency cases require it so, and you’re capable enough to pay too, then borrowing is never bad at all. However, if you borrow just to satisfy your expensive lifestyle, then that is a very absurd decision. Even if you are capable to pay, your reason is still very invalid and unacceptable.

[DrBeer]

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.

Borrowing money without earning money for food is a stupid idea and a path to depression.

Take a convenient loan - for education, starting a business, solving a critically important problem, provided you have a job/know/want to earn - not the most optimal, but absolutely acceptable option!
It all depends on what you want, just somewhere to get money and spend it, or to change the level of your life systematically...

[ichsan ardi]

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.

Borrowing money isn't always bad. Sometimes we don't get paid, but we don't have enough money for everyday. Borrowing money is one solution, but borrowing for a lifestyle that shouldn't be done. it's necessary to avoid a cycle like that that we have to avoid because it maximizes income while minimizing expenses, what we should do is not stingy, but we have to be good at managing money well so that in the future we can live quietly without debt.

[mm2543363580]

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.

Borrowing money isn't always bad. Sometimes we don't get paid, but we don't have enough money for everyday. Borrowing money is one solution, but borrowing for a lifestyle that shouldn't be done. it's necessary to avoid a cycle like that that we have to avoid because it maximizes income while minimizing expenses, what we should do is not stingy, but we have to be good at managing money well so that in the future we can live quietly without debt.

Borrowing is like a last resort for most of the people and it is not harmful If its under control.  But if you are borrowing out of limits that's will be an alarming thing for you in future.

So overall borrowing is thought as nice good by most of the people may be because of interests or return values.

[Synchronice]

Being in debt is the American Dream. And been that way for a while. Fueled with cheap money and near zero interest rates why are you surprised.

The latest generation has never learnt what a high interest rate environment means. Last time rates were high was 20 years ago and most back then we’re all going to remember. Now people got a little overboard with their debt such as housing debt and auto loans.

And what's wrong with near-zero interest rates? If a person is dumb and doesn't know how to use money, he will be dumb in every condition.

Being in debt is the American Dream.

I don't know if you're being sarcastic but that's not the American dream.

He is definitely sarcastic. American Dream stayed a dream, you have to be asleep to see dreams, once you wake up, dreams disappear.

It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.

I think you should give a try to Robert Kiyosaki's speeches. He often talks about debts and it's pros & cons. He often mentions that if you take out a loan, you'll only have to pay interest rate because loans aren't considered income and are not taxable.

[siniminomorocomunisakito]

I think you should give a try to Robert Kiyosaki's speeches. He often talks about debts and it's pros & cons. He often mentions that if you take out a loan, you'll only have to pay interest rate because loans aren't considered income and are not taxable.

You seem interested in Robert Kiyosaki's views on debt and loans. yes, While it is true that loans are not considered taxable income, interest paid on loans is generally not tax deductible for personal loans, with a few exceptions such as mortgage interest. However, taking on debt is not without risks and potential financial stress before making any major financial decisions in my opinion.