Quit borrowing

[greek_hephaestus]

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. 

This are the mainly affected financial problems and they income expense crossed is one virus it must overcome in managing finances . In a financial situation is bad at the time we get borrowing we are obey like a brilliant 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.

[MarjorieZimmermanGinger]

I have seen people who are really in need of mone.’But they are hesitent to borrow money.

Therein lies the problem and every person who is still alive must all need money to support his life, both being responsible for family needs, education and health costs. Sometimes people have an unbalanced income and expenditure scale, so they need to consider taking out a loan because when they insist on taking a loan, if it is not supported by a steady job, it will be problematic to cover monthly expenses.

On the other hand there are some people who are habitual and they damage people financially.

The scale of need and use of loans is a priority that needs to be considered and try to see the worst potential when the hope of taking out a loan to support business trips is not as expected. For example, in the middle of your business trip, it doesn't grow or goes bankrupt, then what steps need to be taken so that you don't have problems with loans?

Any credit/loan institution will not give a damn about the controls in the business you are running and will never think of ruining someone's finances because they are running a business in this field. Borrowers must be progressive in seeing opportunities, whether taking a loan is the right solution or vice versa will put them in much bigger trouble. Get to know it first and study the impact before deciding to take a loan for any need.

[ElmedoRator]

Investing with borrowed money, especially in assets like Bitcoin, is actually more stupid than planned investing. While there have been cases where individuals have made substantial profits from investing in Bitcoin, it's really not that much, and I find it more fortunate than a well-intentioned scheme. Profit is not certain, so work, and once a case of loss occurs, I think life will turn into a very wonderful new chapter when debt is not paid.

[blockman]

Investing with borrowed money, especially in assets like Bitcoin, is actually more stupid than planned investing. While there have been cases where individuals have made substantial profits from investing in Bitcoin, it's really not that much, and I find it more fortunate than a well-intentioned scheme. Profit is not certain, so work, and once a case of loss occurs,

It is a bad idea and even starting a business that's come from loaned money unless you're that rich type and you can pay that forward if ever the business fails. We can imitate what the rich can do but it's not that everything they do can be done because of the status that we've got for each of us.

I think life will turn into a very wonderful new chapter when debt is not paid.

It's the opposite, life will be better if debts are paid. If someone believes in karma and has taken a loan, he'll do something to get it paid until full but those that don't believe it, they'll just leave these people behind and the won't have to bother themselves pay the debt.

[dunfida]

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.  

This are the mainly affected financial problems and they income expense crossed is one virus it must overcome in managing finances . In a financial situation is bad at the time we get borrowing we are obey like a brilliant 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.

Thats why you should avoid on taking loans and borrowing money to pay another debt on which you are really that putting and sinking up yourself into much trouble because it would be continue to pile up until you would be able to realize that it is really that hard to pay anymore specially if the income source you do have is still the same. This is why whenever we do talk about financing then we should really be that wise when it comes to spending and we should really avoid to deal up with things which arent useful to us. Its not bad to borrow but only into those emergency times but for buying up something which doesnt  generate
income then this is where problem do starts.

This is why as much as possible you should quit on borrowing and this is where you would be able to see the relevance on having some savings fund. If you dont mind on having this one then
you would really be able to realize things when you are already on a tough situation.

[mich]

I avoid charging transactions that are very high on my credit card. The rule of thumb that I have if I cannot afford the item then I cannot purchase it. Not knowing nor understanding that credit card companies make their money from interests and credit card fees that one just does not understand.

Interest itself burns a hole in your wallet and to some it can certainly lead into a huge credit card debt. This should be taught to children when teaching about money, knowing what a good debt is versus a bad debt.

This way it can help with understanding that having a credit card is a privilege rather than a necessity. Knowing this is how you cannot put large amounts of money to your credit card is a better financial decision in the long run.

[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.

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.  

This are the mainly affected financial problems and they income expense crossed is one virus it must overcome in managing finances . In a financial situation is bad at the time we get borrowing we are obey like a brilliant 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.

Thats why you should avoid on taking loans and borrowing money to pay another debt on which you are really that putting and sinking up yourself into much trouble because it would be continue to pile up until you would be able to realize that it is really that hard to pay anymore specially if the income source you do have is still the same. This is why whenever we do talk about financing then we should really be that wise when it comes to spending and we should really avoid to deal up with things which arent useful to us. Its not bad to borrow but only into those emergency times but for buying up something which doesnt  generate
income then this is where problem do starts.

This is why as much as possible you should quit on borrowing and this is where you would be able to see the relevance on having some savings fund. If you dont mind on having this one then
you would really be able to realize things when you are already on a tough situation.

Borrowing comes when one is in danger or life situation when there's no alternative and remedy before involving oneself in going extra mile to take a loan to sort out the problems, of which must have a work at hand that would enable one to pay back after gotten stabilized. People involving taking loan for what doesn't add value or meaning to life is what I won't be in a full support.

[Andrija Branislav]

I think, This will be a bad habit if followed even though circumstances force us to cover our daily living expenses. what is the point of borrowing more money if it will only lead to further accumulation of debt. Our tendency to live beyond our means and increasing credit card debt add to this problem, threatening our financial well-being. let alone a credit card. My advice is if you can just stop that choice because I have felt it, it doesn't seem to pay off when we pay it monthly.

[Z390]

It's never going to be difficult to borrow money from somewhere when you are short of cash if you are brought up this way, for many people borrowing money has made debt a normal way of living.

I've heard stories and how some people use debt to make more money, but that's because these set of people are made differently, they are called strategist because they use the debt to create money printing machines and it work really well for them.

But there are some people that take debts for silly reasons, some takes loan for gambling and they put themselves in more problem, there is no point in taking loans and you end up in more debt disaster.

[slapper]

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.  

This are the mainly affected financial problems and they income expense crossed is one virus it must overcome in managing finances . In a financial situation is bad at the time we get borrowing we are obey like a brilliant 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.

Thats why you should avoid on taking loans and borrowing money to pay another debt on which you are really that putting and sinking up yourself into much trouble because it would be continue to pile up until you would be able to realize that it is really that hard to pay anymore specially if the income source you do have is still the same. This is why whenever we do talk about financing then we should really be that wise when it comes to spending and we should really avoid to deal up with things which arent useful to us. Its not bad to borrow but only into those emergency times but for buying up something which doesnt  generate
income then this is where problem do starts.

This is why as much as possible you should quit on borrowing and this is where you would be able to see the relevance on having some savings fund. If you dont mind on having this one then
you would really be able to realize things when you are already on a tough situation.

Your thoughts on fiscal gymnastics are pretty woke. Can't help but feel that "yup, this hits home" moment when you bring up the issue of grabbing a loan to pay off another. It's like digging an even deeper money pit, right? Truly, it turns into a whirlpool of IOUs and APRs, kinda like a financial black hole that gobbles you up the harder you try to escape.

Totally vibing with the concept that smart and savvy money moves are clutch. Dropping cash left and right can brew up a financial storm, more so if it's all going into depreciating baubles. On the flip side, prioritizing the must-haves and maybe a few boss moves in investments that deliver ROI could keep your bank balance from going red.

Your two cents on keeping a stash for the rainy days is on point. It's like the "in case of emergency, break glass" fund to combat those out-of-the-blue fiscal faceplants. A rock-solid savings game plan is your financial parachute that lets you sail through rough economic weather without falling into the quicksand of brutal loans. With the right fiscal playbook and keeping a tight rein on the spending spree, one can stay on top of the money game and ride out any storm.

[uswa56]

It's never going to be difficult to borrow money from somewhere when you are short of cash if you are brought up this way, for many people borrowing money has made debt a normal way of living.

I've heard stories and how some people use debt to make more money, but that's because these set of people are made differently, they are called strategist because they use the debt to create money printing machines and it work really well for them.

But there are some people that take debts for silly reasons, some takes loan for gambling and they put themselves in more problem, there is no point in taking loans and you end up in more debt disaster.

Debt is not always bad, even many large companies have debt, they take debt with clear objectives and possibilities so it is actually good for them to increase their business.
but for people who are in debt for ridiculous reasons, one day they will realize about that stupid thing.
Debt has become commonplace in life, even now there are many ways to get into debt, but it all comes back to ourselves how to take advantage of this debt to be able to increase income in life or advance business.

[Razmirraz]

Investing with borrowed money, especially in assets like Bitcoin, is actually more stupid than planned investing. While there have been cases where individuals have made substantial profits from investing in Bitcoin, it's really not that much, and I find it more fortunate than a well-intentioned scheme. Profit is not certain, so work, and once a case of loss occurs, I think life will turn into a very wonderful new chapter when debt is not paid.

Op did not mention borrowing money to invest in Bitcoin or other Cryptocurrency, this method is not recommended because the risk is very large if the asset you are buying is stuck while the loan payment is due. The contents of the topics discussed by OP are more inclined towards financial management so that expenses are smaller than income so that we avoid debt. Money is an inseparable part of making ends meet, but behind all that you have to have savings so you don't fall into a circle that can make your life limited by digging holes to close holes for borrowing money to pay off debts.

[bitzizzix]

Investing with borrowed money, especially in assets like Bitcoin, is actually more stupid than planned investing. While there have been cases where individuals have made substantial profits from investing in Bitcoin, it's really not that much, and I find it more fortunate than a well-intentioned scheme. Profit is not certain, so work, and once a case of loss occurs, I think life will turn into a very wonderful new chapter when debt is not paid.

Op did not mention borrowing money to invest in Bitcoin or other Cryptocurrency, this method is not recommended because the risk is very large if the asset you are buying is stuck while the loan payment is due. The contents of the topics discussed by OP are more inclined towards financial management so that expenses are smaller than income so that we avoid debt. Money is an inseparable part of making ends meet, but behind all that you have to have savings so you don't fall into a circle that can make your life limited by digging holes to close holes for borrowing money to pay off debts.

Borrowing for any investment purpose is very risky and also not a good idea, because investment is uncertain income except for long term and you have to think about paying off your loan every month. Unless you have a steady income that is bigger than your loan that you have to pay off every month, even then it will make you dizzy thinking about it every month because there will definitely be unexpected expenses.
and saving is the best solution to avoid debt and can also be used as a reserve fund so that your life is comfortable, no matter how small, saving is mandatory because over time it will become big. And the most important thing is that you have to be able to adjust your needs and lifestyle according to your income, and keep it to a minimum so you can continue to save.

[@forxample]

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.

the stupid thing that humans do is work continuously and can't enjoy old age because there are still debt repayments so they can't retire from their jobs. Prestige is one of the reasons someone borrows money or credit. when they work they are embarrassed if they have to go by motorbike or public transportation so they take years of car payments and when they have a family they are ashamed if they have to live with their parents so they take home installments. Continue like that, extend the installments until you don't feel old, but the installments don't go away, so you can't retire from work because you don't have any other income to pay the installments.

Doing business and investing is the solution to getting out of the work zone. But not everyone dares to get out of that zone, they think that if you do business the income is uncertain while the installments must be paid every month. and have no extra money to invest being drained by mortgages and everyday life.
the solution to these problems you must have the will, courage and seriousness in doing business. all you need to do to get out of the work zone is, by managing your finances so that you have the capital to do business and start investing. if you still can't leave your job or are in doubt then try to manage your time between work and business. later when your business is good you can leave your job.

[Accardo]

Investing with borrowed money, especially in assets like Bitcoin, is actually more stupid than planned investing. While there have been cases where individuals have made substantial profits from investing in Bitcoin, it's really not that much, and I find it more fortunate than a well-intentioned scheme. Profit is not certain, so work, and once a case of loss occurs,

It is a bad idea and even starting a business that's come from loaned money unless you're that rich type and you can pay that forward if ever the business fails. We can imitate what the rich can do but it's not that everything they do can be done because of the status that we've got for each of us.

I think life will turn into a very wonderful new chapter when debt is not paid.

It's the opposite, life will be better if debts are paid. If someone believes in karma and has taken a loan, he'll do something to get it paid until full but those that don't believe it, they'll just leave these people behind and the won't have to bother themselves pay the debt.

I've read an author who claims that loan helps business owners to work hard, and they intentionally don't clear their depts because when they do, they'll feel more relaxed compared to the pressure that would have been on them if they were in debt. But, no essence of having the money and seizing to pay back a debt. In your view about people that don't believe in karma, I think it's the work of credit bureaus to take action on people who don't clear their debts. Some phone lending businesses use this method to disarm such customers or use their social media platform to trace them.

[Blowon]

Borrowing and then investing is a way that many people use, especially those who want to get rich quickly in a reckless way. This really happened from the case of my friend who borrowed money online and then invested, he really got rich, but strangely he didn't hold his wealth for long, less than a year he went bankrupt and even left borrowing debt, that's even sadder than just unemployment , he is looking for a way to get out of debt with a simple job to pay off the debt but it is difficult to make ends meet.

[og kush420]

Borrowing and then investing is a way that many people use, especially those who want to get rich quickly in a reckless way. This really happened from the case of my friend who borrowed money online and then invested, he really got rich, but strangely he didn't hold his wealth for long, less than a year he went bankrupt and even left borrowing debt, that's even sadder than just unemployment , he is looking for a way to get out of debt with a simple job to pay off the debt but it is difficult to make ends meet.

unnecessary borrowing can be killing
There is a group of people who would damage the peace of other people for their own benefit.
they would borrow money and would just run away with their ugly desires but God is always there.

[uchegod-21]

Borrowing and then investing is a way that many people use, especially those who want to get rich quickly in a reckless way. This really happened from the case of my friend who borrowed money online and then invested, he really got rich, but strangely he didn't hold his wealth for long, less than a year he went bankrupt and even left borrowing debt, that's even sadder than just unemployment , he is looking for a way to get out of debt with a simple job to pay off the debt but it is difficult to make ends meet.

unnecessary borrowing can be killing
There is a group of people who would damage the peace of other people for their own benefit.
they would borrow money and would just run away with their ugly desires but God is always there.

There are different types of borrowing;

• Borrowing  for Investment  Purpose
• Borrowing  because you are living above your income

I totally made up the 2 types of borrowing above. If you find yourself borrowing for an investment purpose, I do not see alot of problems with it. If you have a workable plan and investment idea, you could turn super rich.
But in the other hand, if you borrow because what you earn monthly does not sustain you, you are in the speed lane of living an unhappy life and which may lead to long time poverty. If you live above what you earn, don't borrow, just reduce your expense.

[og kush420]

Borrowing and then investing is a way that many people use, especially those who want to get rich quickly in a reckless way. This really happened from the case of my friend who borrowed money online and then invested, he really got rich, but strangely he didn't hold his wealth for long, less than a year he went bankrupt and even left borrowing debt, that's even sadder than just unemployment , he is looking for a way to get out of debt with a simple job to pay off the debt but it is difficult to make ends meet.

unnecessary borrowing can be killing
There is a group of people who would damage the peace of other people for their own benefit.
they would borrow money and would just run away with their ugly desires but God is always there.

There are different types of borrowing;

• Borrowing  for Investment  Purpose
• Borrowing  because you are living above your income

I totally made up the 2 types of borrowing above. If you find yourself borrowing for an investment purpose, I do not see alot of problems with it. If you have a workable plan and investment idea, you could turn super rich.
But in the other hand, if you borrow because what you earn monthly does not sustain you, you are in the speed lane of living an unhappy life and which may lead to long time poverty. If you live above what you earn, don't borrow, just reduce your expense.

another type of borrowing because you people cannot withstand the thought that someone is rich is at ease
sometimes the very friends you trust leaves you in the lurch and you are shall shocked for what has happened to you!

[Cryptock]

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.

the main thing in borrowing is the the character of the person. Some people and businesses are not good enough to be trusted. They can borrow money and can vanish. while others are very particular about dealing with their finances and these the successful people and business.