Quit borrowing

[Lorence.xD]

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

[loopes]

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

It is called investing a loan, which means when you tanking out some loan for investment like securities, real estaate or even crypto currency like bitcoin. of course this strategy can give higher profit but increased investment capital but this strategy also carries inherent risks. 

[Cryptock]

Most of us like to only borrow when returning it is very difficult, in this case we must pay attention too the job of the person borrowing if you really want to lend it because if it's the wrong person or the person who doesn't have a job we lend it can there will be fraud and not paid looking for reasons that there is nothing to pay

Of course. we have to be careful if we want to give a loan to anyone. especially to people we have not known for a long time. we do have to first check what job he has and also check his real identity and whether he is really a person who can be trusted or not. Even when borrowing from a bank, you need collateral. So also we have to see what collateral is offered by the borrower if he is not someone we know. but I personally don't always ask a lot of questions when my relatives borrow from me. I would immediately give it without hesitation if I had extra money that I could lend.

It's important to exercise caution when lending money, especially to individuals you don't know well. Verifying someone's identity and employment can provide some level of assurance. Additionally, collateral is often required when borrowing from a bank to ensure the repayment of the loan. If you are considering lending money to someone you don't know, it's essential to evaluate the risk and consider whether they can be trusted to repay the loan.

very right - better dont lend money. Because most of the time people just run away with money.

[xSkylarx]

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

It won't be a gamble if you have knowledge on it but one of the reasons it is not advisable to take a loan for investment is that how will you pay it if your investment is not profitable or lose it all. Other will say it is okay as long as you can pay it and you can take the loss but again we wont earn any single profit or become a rich if we plan this if we only stays at our comfort zone, there are businessman that takeout a loan to start their business, it is only matter of the risk if you can take it but again only take those calculated risk and don't invest blindly

[Cryptock]

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

It won't be a gamble if you have knowledge on it but one of the reasons it is not advisable to take a loan for investment is that how will you pay it if your investment is not profitable or lose it all. Other will say it is okay as long as you can pay it and you can take the loss but again we wont earn any single profit or become a rich if we plan this if we only stays at our comfort zone, there are businessman that takeout a loan to start their business, it is only matter of the risk if you can take it but again only take those calculated risk and don't invest blindly

there are various ways one cam earn money. gambling is not always a great choice!

[@forxample]

I hope borrowing never put us to shame before we quit this action, why can't we learn and give it all it takes to also be an owner and lend to others than borrowing always, some people have no courtesy to what they can borrow, how they borrow and from whom they even borrow from, it a thing of shame that some people don't even count it serious that they should stop or limit the extent of things they borrow.

I'm afraid to say that it cannot be avoided especially for the ones who badly needed to borrow some money just to get through the day because their job is not paying that well to cover up their daily expenses nor can make them and their family eat as much as 3x a day. For us here, we can somehow say that we should consider something first and weigh some things before borrowing before it can put us to shame but for other people who doesn't have that much, shame and embarrassment is not really a big deal as long as they can survive in this harsh world.

the biggest mistake is when you borrow money and the money is used to meet daily needs or borrow money with the aim of paying off previous debts is a ridiculous thing to do. until in the end you can't pay bills because the money you borrow is not used wisely and causes you to be in debt.

and what you have to do here doesn't mean you have to stop borrowing money, but use the borrowed money as best and wisely as possible. when you get a loan it means you get the opportunity to start a business because you already have temporary capital. thus you can have a new business and have additional income so you don't need to be confused anymore for bills every month because you get results from the efforts you make.

[og kush420]

I hope borrowing never put us to shame before we quit this action, why can't we learn and give it all it takes to also be an owner and lend to others than borrowing always, some people have no courtesy to what they can borrow, how they borrow and from whom they even borrow from, it a thing of shame that some people don't even count it serious that they should stop or limit the extent of things they borrow.

I'm afraid to say that it cannot be avoided especially for the ones who badly needed to borrow some money just to get through the day because their job is not paying that well to cover up their daily expenses nor can make them and their family eat as much as 3x a day. For us here, we can somehow say that we should consider something first and weigh some things before borrowing before it can put us to shame but for other people who doesn't have that much, shame and embarrassment is not really a big deal as long as they can survive in this harsh world.

the biggest mistake is when you borrow money and the money is used to meet daily needs or borrow money with the aim of paying off previous debts is a ridiculous thing to do. until in the end you can't pay bills because the money you borrow is not used wisely and causes you to be in debt.

and what you have to do here doesn't mean you have to stop borrowing money, but use the borrowed money as best and wisely as possible. when you get a loan it means you get the opportunity to start a business because you already have temporary capital. thus you can have a new business and have additional income so you don't need to be confused anymore for bills every month because you get results from the efforts you make.

i have seen people borrowing money and wasting it like crazy. one of the reasons is that because you havenot earned it so borrower just waste the money.

[Uruhara]

Most of us like to only borrow when returning it is very difficult, in this case we must pay attention too the job of the person borrowing if you really want to lend it because if it's the wrong person or the person who doesn't have a job we lend it can there will be fraud and not paid looking for reasons that there is nothing to pay

Of course. we have to be careful if we want to give a loan to anyone. especially to people we have not known for a long time. we do have to first check what job he has and also check his real identity and whether he is really a person who can be trusted or not. Even when borrowing from a bank, you need collateral. So also we have to see what collateral is offered by the borrower if he is not someone we know. but I personally don't always ask a lot of questions when my relatives borrow from me. I would immediately give it without hesitation if I had extra money that I could lend.

It's important to exercise caution when lending money, especially to individuals you don't know well. Verifying someone's identity and employment can provide some level of assurance. Additionally, collateral is often required when borrowing from a bank to ensure the repayment of the loan. If you are considering lending money to someone you don't know, it's essential to evaluate the risk and consider whether they can be trusted to repay the loan.

very right - better dont lend money. Because most of the time people just run away with money.

But for now it's not easy to find people who are honest and always fulfill their responsibilities well in loans. So it's only natural that nowadays people are always reluctant to help other people in making loans. because too many people don't trust each other. and those things of course there are triggers. usually someone who can't pay debts not on time is because they are in a condition that makes it impossible to pay debts. and the creditor of course still wants to be paid on time. such things often happened and resulted in a drop in the level of mutual trust in one another. But being careful is the important thing.

[Desmong]

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

It won't be a gamble if you have knowledge on it but one of the reasons it is not advisable to take a loan for investment is that how will you pay it if your investment is not profitable or lose it all. Other will say it is okay as long as you can pay it and you can take the loss but again we wont earn any single profit or become a rich if we plan this if we only stays at our comfort zone, there are businessman that takeout a loan to start their business, it is only matter of the risk if you can take it but again only take those calculated risk and don't invest blindly

there are various ways one cam earn money. gambling is not always a great choice!

People had been making money in gambling so it does not start today.
 A lot is happening and there is need for us to create a good business that would give us good earnings than for us to relax and think of using or borrowing money from people around us without having to stop the urge.

[milewilda]

Actually borrowing is not a bad thing people are usually victims of circumstances, there are many times when the situation has to take after it is not a shame but you have to stay within your limits. Must be able to take and pay back on time but it will not be right to do it all the time. We borrow money from each other for various needs in our life. But if this money loan becomes a habit then there is a doubt that we may not be successful in our life. When you buy something with your own money and buy it by borrowing money from above, the joy of the two will never be the same and there will be pressure on the head when to pay it back.

Is it not actually a bad thing, it exist so incase of emergency we could use some help by borrowing money and just to make sure that you could pay it so you wouldn't be in debt. The thing is having a loan is not advisable in investing or trading since there's always a risk involved in this industry. It's like you're having a gamble with the money that you borrowed. Plus always note that if you're having a loan always think ahead if you could pay it in the future and if you could budget the money you have.

It won't be a gamble if you have knowledge on it but one of the reasons it is not advisable to take a loan for investment is that how will you pay it if your investment is not profitable or lose it all. Other will say it is okay as long as you can pay it and you can take the loss but again we wont earn any single profit or become a rich if we plan this if we only stays at our comfort zone, there are businessman that takeout a loan to start their business, it is only matter of the risk if you can take it but again only take those calculated risk and don't invest blindly

there are various ways one cam earn money. gambling is not always a great choice!

People had been making money in gambling so it does not start today.
 A lot is happening and there is need for us to create a good business that would give us good earnings than for us to relax and think of using or borrowing money from people around us without having to stop the urge.

Borrowing or taking a loan isnt really that bad as long you do really know on paying them back.Things turns out to be mess is on just on the time that you would really be that irresponsible in regarding on  your dues
on which it would really be resulting into that kind of paying up huge interest and the worst you would really be facing up some cases due to that specially if you do took loan from lending firms or in the banks.
As much as possible then it would really be that recommended on not to take up some loan on which it would be ideal on making use of the funds you do have so that you would be able to avoid
on borrowing on which this is t he reason on why you do put up yourself into much trouble. This is why its really that important that you should be thinking up twice before stepping further
in terms or conditions like this.
Borrow or taking loan for the sake of business and investment is ideal but if you are really that just taking a loan for buying some no use things or simply with liabilities then it is really that hard
when the time comes.

[odunybiz]

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns.

Do you support the idea of borrowing loan to get crypto asset? How are you sure if it will come with good potential returns. Well, all I know about borrowing loan is that, you can get a loan to improve your  standing business but you shouldn't make a mistake borrowing loan to start a business.

Borrowing money for investment or business is really risky, but there is no success without taking risks and trade-offs.  therefore, borrowing money is not necessarily bad but will depend on each case and each person's circumstances. you borrow money because you can't gather that money in a short time to prepare the business. I mean, you can pay that loan even if your business fails, borrowing money can be considered.  But if you have no other assets, and no income, then borrowing money is a stupid idea.

I can still support this your idea. If one have other alternative mean of paying the loan if the investment fails then one can go ahead with the loan. This has once happened me, if not for my other biz I will definitely find it difficult to pay back the loan.

[Ebede]

Some people don't know the reason why some people borrow money to borrow money is good but it depends on the way that you are borrowing the money for you can borrow money and start up a business and the business you have already known the route of the business so that when you invest the borrowing money or borrow the money then it will not disappear or lost so I believe that you can borrow money and start up a little business so in future time you can pay back the money and start making use of the profit

[bayu7adi]

Some people don't know the reason why some people borrow money to borrow money is good but it depends on the way that you are borrowing the money for you can borrow money and start up a business and the business you have already known the route of the business so that when you invest the borrowing money or borrow the money then it will not disappear or lost so I believe that you can borrow money and start up a little business so in future time you can pay back the money and start making use of the profit

The amount matters as well. I won't blame someone who borrows money for investment if they borrow $1000 from the bank, but their monthly income is $10000 with no debts and they possess assets like a house, car, and gold. It truly depends on the circumstances when it comes to borrowing money for investment or business purposes. If successful, you'll reap the benefits, but if not, you'll only lose a small portion of your money.

This is a common strategy employed by entrepreneurs or large institutions, where they opt to borrow money when they secure a job or receive an order from a client.

[capedbaldy]

The amount matters as well. I won't blame someone who borrows money for investment if they borrow $1000 from the bank, but their monthly income is $10000 with no debts and they possess assets like a house, car, and gold. It truly depends on the circumstances when it comes to borrowing money for investment or business purposes. If successful, you'll reap the benefits, but if not, you'll only lose a small portion of your money.

It is illogical, someone will apply for a loan that is higher than their monthly income because if they apply for a loan of 10% of their monthly income then it is better to wait for the next month's income than to pay interest on a bank loan, usually they apply for a loan higher than 3-5x of their monthly income and they choose a time to pay off 1-2 years. Now is the right time to increase Bitcoin investment assets but it is better not to involve any borrowed funds unless you can handle loan repayments well.

[Theones]

The amount matters as well. I won't blame someone who borrows money for investment if they borrow $1000 from the bank, but their monthly income is $10000 with no debts and they possess assets like a house, car, and gold. It truly depends on the circumstances when it comes to borrowing money for investment or business purposes. If successful, you'll reap the benefits, but if not, you'll only lose a small portion of your money.

It is illogical, someone will apply for a loan that is higher than their monthly income because if they apply for a loan of 10% of their monthly income then it is better to wait for the next month's income than to pay interest on a bank loan, usually they apply for a loan higher than 3-5x of their monthly income and they choose a time to pay off 1-2 years. Now is the right time to increase Bitcoin investment assets but it is better not to involve any borrowed funds unless you can handle loan repayments well.

begging all the time make a person repulsive - try to change your habit for better repersention of your personality and your own self.

[bayu7adi]

The amount matters as well. I won't blame someone who borrows money for investment if they borrow $1000 from the bank, but their monthly income is $10000 with no debts and they possess assets like a house, car, and gold. It truly depends on the circumstances when it comes to borrowing money for investment or business purposes. If successful, you'll reap the benefits, but if not, you'll only lose a small portion of your money.

It is illogical, someone will apply for a loan that is higher than their monthly income because if they apply for a loan of 10% of their monthly income then it is better to wait for the next month's income than to pay interest on a bank loan, usually they apply for a loan higher than 3-5x of their monthly income and they choose a time to pay off 1-2 years.

No one truly knows the essence of each person's character when it comes to pursuing their desires. In fact, there are numerous 'unusual' individuals who continue to lead remarkable lives, defying conventional norms, and achieving even greater success. However, it is crucial to exercise utmost prudence when it comes to enlarging one's debts, ensuring that their value remains beneficial to our financial well-being.

Therefore, what I have conveyed still holds true for me, and perhaps others may struggle to embrace it.

[mamesso]

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.

This is the main problem that greatly affects the financial condition. income exceeds expenditure is a virus that must be overcome in managing finances. When your financial condition is down, you must be wise in borrowing money because there are several risks that will arise if your finances jam or fail to pay at maturity, one of the risks that cannot be avoided is that the installments will get bigger because the interest and fines continue to increase.
Policies in spending are needed to maintain financial health, you must control your money properly by cutting expenses and spending money wisely. Borrowing money to fulfill desires is not recommended because it will become a burden when paying due to not having a side income source.

[slapper]

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.

This is the main problem that greatly affects the financial condition. income exceeds expenditure is a virus that must be overcome in managing finances. When your financial condition is down, you must be wise in borrowing money because there are several risks that will arise if your finances jam or fail to pay at maturity, one of the risks that cannot be avoided is that the installments will get bigger because the interest and fines continue to increase.
Policies in spending are needed to maintain financial health, you must control your money properly by cutting expenses and spending money wisely. Borrowing money to fulfill desires is not recommended because it will become a burden when paying due to not having a side income source.

The trend of 'living for the now' has indeed led to an unsettling 'outgoings > incomings' equation in many households. That's why we see the millennial generation dubbed as the "debt generation".

The wisdom to borrow is important but often overlooked. Lending platforms will always be happy to dish out loans but forget to add the disclaimer about the snowballing effect of interest and fines. It's like buying a smartphone on a plan and realizing later you could have bought two for the price you end up paying!

However, the solution isn't as straightforward as cutting expenses. It's about understanding needs versus wants and planning expenditures accordingly. A common saying among personal finance geeks is "Don't save what is left after spending; spend what is left after saving". Implementing such simple financial principles could be a starting point to financial prudence.

[SmartGold01]

However, the solution isn't as straightforward as cutting expenses. It's about understanding needs versus wants and planning expenditures accordingly. A common saying among personal finance geeks is "Don't save what is left after spending; spend what is left after saving". Implementing such simple financial principles could be a starting point to financial prudence.

I can assure you that only few would do that, just that nowadays people have turned the way of living to a competitive standard whereby people don't even care where they are and what they got involved in living and expensive life. If there's an adjustment, then to also stop living expensive life I don't think in anyway we would live a life debt instead a debt free life, I myself have tried all I could to reduce and remove every unnecessary expenses in my family, whatever we don't want at that moment we skip it and go for the most needed ones by so doing we've eliminated lots of things.

[Accardo]

However, the solution isn't as straightforward as cutting expenses. It's about understanding needs versus wants and planning expenditures accordingly. A common saying among personal finance geeks is "Don't save what is left after spending; spend what is left after saving". Implementing such simple financial principles could be a starting point to financial prudence.

I can assure you that only few would do that, just that nowadays people have turned the way of living to a competitive standard whereby people don't even care where they are and what they got involved in living and expensive life. If there's an adjustment, then to also stop living expensive life I don't think in anyway we would live a life debt instead a debt free life, I myself have tried all I could to reduce and remove every unnecessary expenses in my family, whatever we don't want at that moment we skip it and go for the most needed ones by so doing we've eliminated lots of things.

Learnt many savings strategies reading this thread, I've never felt comfortable owing people or a firm, but sometimes things get too rough on a person and they'll need to survive on loan. I noticed that borrowed money burns like paper and people find it difficult to clear their debts even when the money is with them. It can be circled around their way of living life, they'll feel the money is not enough to settle the loan. The world is now complicated with people that can't control themselves from buying useless things, in the name of show off. What will happen to a person that use a borrowed money to fund his luxurious lifestyle? a lot of people do this to feed their timeline, opening a window for future obstacles.