Quit borrowing

[romero121]

When providing a loan, the Bank takes into consideration many things. Particularly the collateral, because if the person wasn't repay the loan somehow the bank needs to settle the loan. For this the collateral is brought into auction and the loan amount is being paid. When a person borrow from the person next to him or from a known person this stands as debt until its repaid. When a person borrow without understanding his repaying ability, this is going to stand as debt for long. In all means we should have our own plan to lead life with what we earn. At some critical situation we're borrowing that's different. People who borrowing without purpose, particularly for luxury outlook should stop it to progress in life.

[Hispo]

The problem is not the inflation of debt but the recession and the fact that so many people are taking advantage of the recession so they're going to borrow money and get their money back in the form of loans so they can get a loan of a sufficient amount and it's really not that far in the future, but then again the inflation rate in today's country is so high that its not surprising that even the banks have trouble charging them money, which in the form of loans will be very inconvenient and it is better to use your money to pay for it and save and keep the savings of your savings to yourself if you feel like borrowing more money. 
 
Well said, I can't blame you, I can't even blame you.

That is what exactly happened here in Venezuela. The inflation went so fast that the loan interests were left behind. So people took advantage of it to max up their cards and use the money as soon as possible.

The payments made back to the bank were made with inflated money which had less value than the one asked in the first place, in the end, banks were losing money and ended up terminating the credit products for regular people. That is one of the reasons Venezuela may be one of the few countries in the world without institutional credit in our own currency.

Argentina manages it in a different way, their rates keep up with the inflation, so asking for loans there is actually expensive, one can easily end up paying the double of the money asked after just 6 months. 

Intriguing, isn't it? Nations wrestling with inflation and credit. Venezuela? Suffering from a hyperinflation whirlwind. Argentina? Keeping pace by cranking up interest rates.

But, my friends, this tale of inflation and debt has more layers than a political thriller. It's beyond controlling interest rates or inflation – it's also about prudent borrowing and spending.

Let's champion financial wisdom and accountability. Understand the perils of drowning in debt. Not just for personal salvation, but for the entire financial world's vitality

Some could argue that debt has become such an important part of the economy of the developed countries that banks and other financial institutions base an important percentage of their income on charging for interest to people who may be drowning in debt, without knowing about it. Just take a look at the total credit card debt in USA.

It has become a dangerous lifestyle, working as much as possible to pay the cards, because the lack or self control and discipline. Because in the end, those are the base of money saving. Wanting to get all things we want inmediatelly will eventually lead towards problems...

[xSkylarx]

If I want to, I prefer to avoid loans because we know that loans have extra interest, but for someone like me, whose salary rate is too low, it is really necessary to borrow money to use in online businesses. It is better to think first if there are things that need to be financed or if there is a lack of capital for the business so it is necessary to take out a loan. Be smart in using the money from the loan, it is better if we use it in businesses or earnings so that we can return the money we owe sooner or at the right time.

True, in borrowing we have to think about several factors such as large interest, and most importantly our ability to pay bills when they are due, everything must be taken into account so that our income is not only used to pay off debt

That is why always take into consideration or like having a calculation if you can still pay it off and you are not over spending because you'll be hard time paying it in long time. Others also take a loan just to pay off another debt which is really a bad move but still other has no choice as their income is not enough. Ive also came into this point that i really need to take a loan just o pay off debt which i am lucky that I've got out from it and it really kills you mentally as you are sleeping thinking how you pay it back

[kotajikikox]

This is the true meaning of living , avoiding to borrow or loan in the most difficult days of our life will make us capable of facing everything in the future.
sometimes it is just the attitude and the behavior that brings us to borrowing when we can tighten our belts to not feel the hunger in some times.
people love to live in the most better way when their capacity seems to be not that consistent.
if all the people in the world will only learn to strive to live, trust me we will all grow together.
those lending company or even business and even our own friends and family , only want one thing and that is not to help us but to make us suffer either with increase in payment or free from interest yet we will still need to pay them back.
I have learn my own lessons from this when i started to have my first venture in business and yes, it made me think twice now and never take a loan again from then .

[AicecreaME]

Borrowing is very common here in our country, especially when it is our relatives. Letting them borrow money is easy but it is hard when you're asking them to return the money they borrowed from you, that's why I don't lend money to people anymore even if they are my friends or even relatives. Lending them money will just make them more irresponsible when it comes to financial thing.

They will pay you using money that they borrowed from someone else, and it will just keep on looping, a never ending cycle of borrowed money.

[awik p]

If I want to, I prefer to avoid loans because we know that loans have extra interest, but for someone like me, whose salary rate is too low, it is really necessary to borrow money to use in online businesses. It is better to think first if there are things that need to be financed or if there is a lack of capital for the business so it is necessary to take out a loan. Be smart in using the money from the loan, it is better if we use it in businesses or earnings so that we can return the money we owe sooner or at the right time.

True, in borrowing we have to think about several factors such as large interest, and most importantly our ability to pay bills when they are due, everything must be taken into account so that our income is not only used to pay off debt

That is why always take into consideration or like having a calculation if you can still pay it off and you are not over spending because you'll be hard time paying it in long time. Others also take a loan just to pay off another debt which is really a bad move but still other has no choice as their income is not enough. Ive also came into this point that i really need to take a loan just o pay off debt which i am lucky that I've got out from it and it really kills you mentally as you are sleeping thinking how you pay it back

having debt to pay off other debts sometimes needs to be done, because this concerns our good name regarding consistency so that we don't lose trust. people who have fallen into a problem like this may at first have done the calculations to how to pay for it, but sometimes the trip doesn't go according to plan, so they are forced into a dilemma situation like that. it would be better to have debt with an amount of no more than 20% of the assets we have, so that it will be more comfortable if in the middle of the road it doesn't match our previous plans

[Kadal Ijo]

Many people think instantly when they feel they have no money or want to buy things they want, for example motorbikes, gadgets and so on, the presence of online loan services makes people easily in debt, they will regret it when they know that the interest paid is very expensive, it's better to immediately leave bad habits.

[Marvell1]

Borrowing is very common here in our country, especially when it is our relatives. Letting them borrow money is easy but it is hard when you're asking them to return the money they borrowed from you, that's why I don't lend money to people anymore even if they are my friends or even relatives. Lending them money will just make them more irresponsible when it comes to financial thing.

They will pay you using money that they borrowed from someone else, and it will just keep on looping, a never ending cycle of borrowed money.

Not everyone is equally bad, not everyone borrows money and doesn't want to pay it back. We should not equate everyone equally. There are some people who fall into a really difficult situation, and borrow money is the last resort they can do. If they are our loved ones and need help, I don't think they should be abandoned. I think we should look at each case to lend money, don't rush to refuse all, and also shouldn't lend money to all easily. I used to borrow money too, so I know what it's like to be in debt, so if I have money and a loved one needs help, if they're a good person, I won't refuse.

[CageMabok]

Many people think instantly when they feel they have no money or want to buy things they want, for example motorbikes, gadgets and so on, the presence of online loan services makes people easily in debt, they will regret it when they know that the interest paid is very expensive, it's better to immediately leave bad habits.

Some people around my environment have considered loan sharks to online borrowers because the interest is quite large. And besides, if you think about it in general, someone who takes out a loan just to buy a motorbike, gadget and other luxury items is someone who thinks very wrongly. Why is that? Because he took out a loan not to do business, but to spend it on things that he couldn't make more money out of. So this not only becomes a person's bad habit of making decisions, but also because he doesn't know which way to use the borrowed money.

[Fakhrulenclix]

Many people think instantly when they feel they have no money or want to buy things they want, for example motorbikes, gadgets and so on, the presence of online loan services makes people easily in debt, they will regret it when they know that the interest paid is very expensive, it's better to immediately leave bad habits.

Some people around my environment have considered loan sharks to online borrowers because the interest is quite large. And besides, if you think about it in general, someone who takes out a loan just to buy a motorbike, gadget and other luxury items is someone who thinks very wrongly. Why is that? Because he took out a loan not to do business, but to spend it on things that he couldn't make more money out of. So this not only becomes a person's bad habit of making decisions, but also because he doesn't know which way to use the borrowed money.

it is indeed wrong, but many people still do this until finally when they are already convoluted and make it difficult for themselves, they stop because they are deterred.
to be honest, I was like that before, taking out a loan just to fulfill my desires, at first I thought it would make me happy, but over time I realized that it would only cause problems for me when paying later.

Taking a loan is okay, but it must be used properly, taking a loan because of an urgent need or taking a loan with the aim of doing business, if it's going to be profitable then there's nothing wrong with borrowing.

[Moeda]

~

Borrowing money is a habit for many people. Of course, the lender also looks at the level of the borrower's ability to pay it off.
Actually this is not a good thing to do, but the demands of necessity make many people take out loans.
It doesn't become a bad thing when the loan is used as business capital. But avoiding is better than continuing to do that.

[DaNNy001]

When providing a loan, the Bank takes into consideration many things. Particularly the collateral, because if the person wasn't repay the loan somehow the bank needs to settle the loan. For this the collateral is brought into auction and the loan amount is being paid. When a person borrow from the person next to him or from a known person this stands as debt until its repaid. When a person borrow without understanding his repaying ability, this is going to stand as debt for long. In all means we should have our own plan to lead life with what we earn. At some critical situation we're borrowing that's different. People who borrowing without purpose, particularly for luxury outlook should stop it to progress in life.

I personal feel its a stupid idea to take loan just to please your wants and pleasure because the money collected will be easily spent and  before you can understand how you used the money the money must have been squandered and the struggle to pay it falls back on you and if you don't have lucrative means of paying back you will then plunge yourself in a pool of borrowing circle and that's when you start borrowing from other places to clear up the current loan and doing so will make you trapped in a circle of loan you can't get out from which unhealthy for anyone who wants to progress in life.

[Dr.Bitcoin_Strange]

Borrowing money is a habit for many people. Of course, the lender also looks at the level of the borrower's ability to pay it off.
Actually this is not a good thing to do, but the demands of necessity make many people take out loans.
It doesn't become a bad thing when the loan is used as business capital. But avoiding is better than continuing to do that.

It really depends on the situation at hand that prompted the borrower to take out the loan; borrowing is really not something that is bad unless the purpose of the loan is for some non-useful things. Taking a loan must not really be for a business purpose, like you said, because some people could have some emergencies during the middle of the month when they are yet to receive their salary, and when it happens like that, they may have the need to borrow and wait to receive their salary towards the end of the month before repaying the loan.

You know, some people borrow money to buy some flashy things just to impress their friends or intimidate others, but it's really not necessary to take out a loan just to fulfill those needs. Just as you have said, it's really important to take note of whether the borrower has the ability to pay back the loan before giving it to them.

[loopes]

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.
-snip-
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.

It depends on how do you use your debt or loan. If you decide to take a loan or debt you must be certain that it must support your efforts or build your business. Do not follow what millions of Americans spend their money that was taken from a debt / loan just for the extravagant needs. They use credit card to do it, they should reduce using credit card because it make them easier to buy the extravagant needs.

[Uruhara]

When providing a loan, the Bank takes into consideration many things. Particularly the collateral, because if the person wasn't repay the loan somehow the bank needs to settle the loan. For this the collateral is brought into auction and the loan amount is being paid. When a person borrow from the person next to him or from a known person this stands as debt until its repaid. When a person borrow without understanding his repaying ability, this is going to stand as debt for long. In all means we should have our own plan to lead life with what we earn. At some critical situation we're borrowing that's different. People who borrowing without purpose, particularly for luxury outlook should stop it to progress in life.

Correct. Actually we even have to imitate what Banks do when we lend money to someone. if it is someone we just met. that is, we can see what guarantees the borrower can show. And the bank does this because actually the money that the bank lends to the borrower is money from customers kept at the bank (savings / deposits). So that the bank will definitely need a guarantee to later replace the customer's money stored in the bank which is solely certain to be taken back by the customer.

[Ben Barubal]

    It's also difficult to be in debt, especially if you suddenly lose the source of income you were hoping to get to pay it off. So it is necessary that if anyone does this, he must make sure that he can use the money he borrows in something that can also produce money.

    It is often used for emergencies, things that are not really needed and so on. So it is better and better not to try to do this thing, than to have a problem in the end.

[BobK71]

People have to borrow or lend for various needs at any time. But this borrowing will never be a good thing if it happens in excess. When a loan is made, a certain amount is to be paid against the loan. I mean bank or any other financial institution here. If there is no repayment of the loan, it can take a big shape at some point which is capable of ruining the life of the borrower. Taking a loan from a person may not have any effect, but in the long run it can also be responsible for creating a far-reaching situation. So, if you take a loan for any reason, try to clear it in time.

[worldofcoins]

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.

You're right. Borrowing money can be a tempting solution to short-term financial difficulties, but it can quickly become a cycle of debt that's difficult to break free from.

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.

The key is to focus on living within your means and avoiding the need to borrow in the first place. The goal is to break the cycle of debt and build a solid financial foundation.

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.

It may take time and effort, but with dedication and discipline, it's possible to achieve financial stability and avoid the pitfalls of borrowing money.

[ringgo96]

I'm sure right now there are very few people who don't lend money to meet their daily needs, because our current needs are very large. If there isn't enough income, lending money is everyone's solution, even though they will have difficulty paying, but because they are forced circumstances, borrowing has become something that we often find, if our income can indeed meet our daily needs, then I agree with your suggestion because borrowing money is not for very urgent needs, which is wrong, because from our sufficient income we can create a savings account so that when there is a sudden need we are not forced to borrow.

[Bitcoin2009]

Actually if we are good at managing finances well then borrowing money is a good and productive thing, unfortunately most people borrow money for fun and unproductive things so that it makes us always involved in debt. from now on immediately stop these bad habits because it will make us regret.