Dont just borrow money but for the right reason - page 3.

LUCKMCFLY

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Quote from: tulusikhlas on December 27, 2021, 05:09:43 AM

Borrowing money to invest is very risky. Because there are 2 that erode our mental there. The first is in returning the borrowed money, the second in terms of the investment itself. There is no profitable investment in a short time, while in borrowing of course there is an agreement when we will return it.
So, if you want to invest, it's better to use your own money. If you don't have enough money right now, there are options for saving, although that takes time. Better to be late, than to curse borrowed money.

You are right, it is always good to have your own money and not borrowed for an investment, because you always have to think about the case that everything goes wrong, and the investment is lost, in this case you must have how you can respond to any eventuality, unless If you have privileged information about a project or investment currency that is highly possible to occur, if this is the case, then the risk is welcome, but it is seldom certain that a certain event will occur as planned, it is all a risk, and in crypto anything can happen.

izsara

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Quote from: stadus on January 01, 2022, 02:54:26 PM

I guess whenever a person decides to take loans, he must be thinking on how to repay it in the first place, knowing that there should be some other resources aside from the crypto investment. But if you have no other resources that can generate an income, then relying on crypto alone will only make yourself stressed out and become pressured because it does not give profits with its definite time. Most of the time, you will only get profitable if the market gets bullish but this does not happen all the time. So its better to think a hundred times before taking loans.

this should be something to think about from the start, but on the other hand greed is what blinds most people.
You see how people are in debt that makes them unable to think clearly and even increase their debt.
This will also happen when they are still prioritizing ego and greed.
things like this will never disappear in the minds of some people until they feel the impact they receive and are fully aware

savetheFORUM

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Quote from: globalpain on January 02, 2022, 05:46:16 AM

Quote from: LastKiss on January 02, 2022, 04:50:26 AM

But many people still borrow money to start their business because of watching other people succeed in having a business, For them it's really important rather than doesn't have any source of income to live, watching people succeed from running a business motivate them to try to open an alike business. That's why we should educate them the important thing about interest from borrowing money because it can ruin their life or a little chance to save them.

It doesn't matter if someone borrows money to start a business but indeed with a note that he can manage the money well,
actually borrowing money to do something useful is a good thing but sometimes it is misused a lot,
What is clear is that there are both positive and negative impacts

Starting a business is a different beast all together. If you are borrowing money for a startup, that's a good reason to do it, you may fail and bankrupt and the business could go to zero and you would have to work for years to pay that debt back. However, that's a risk most people are willing to take because reality is that we still have a good amount of chance we could get rich from it. If you are doing a small business in a store or shop type of deal then it is going to be a lot of work in place and you may have hard time leaving it, but if you are doing it digitally then you could even sell the whole business very easily or just let it be and hire other people to handle it.

I feel like it is definitely a great deal and I am going to do it one day, just a few thousand dollars would be enough to start my startup idea and I have half of that ready anyway, it is not a "startup" perse, but a website idea that I have but I need developers for it and designers, I may get loan and start that.

globalpain

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Quote from: LastKiss on January 02, 2022, 04:50:26 AM

Quote from: Awwal08 on January 02, 2022, 03:11:47 AM

I don't like borrowing, unless it is very important. Borrowing money for no reason is like a disaster, the money you borrow you must repay it back that why is better you use it for reasonable thing to motivate you in repaying it back. They don't borrow to start a business but they borrow to improve the existing besiness.

But many people still borrow money to start their business because of watching other people succeed in having a business, For them it's really important rather than doesn't have any source of income to live, watching people succeed from running a business motivate them to try to open an alike business. That's why we should educate them the important thing about interest from borrowing money because it can ruin their life or a little chance to save them.

It doesn't matter if someone borrows money to start a business but indeed with a note that he can manage the money well,
actually borrowing money to do something useful is a good thing but sometimes it is misused a lot,
What is clear is that there are both positive and negative impacts

LastKiss

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Quote from: Awwal08 on January 02, 2022, 03:11:47 AM

I don't like borrowing, unless it is very important. Borrowing money for no reason is like a disaster, the money you borrow you must repay it back that why is better you use it for reasonable thing to motivate you in repaying it back. They don't borrow to start a business but they borrow to improve the existing besiness.

But many people still borrow money to start their business because of watching other people succeed in having a business, For them it's really important rather than doesn't have any source of income to live, watching people succeed from running a business motivate them to try to open an alike business. That's why we should educate them the important thing about interest from borrowing money because it can ruin their life or a little chance to save them.

Awwal08

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I don't like borrowing, unless it is very important. Borrowing money for no reason is like a disaster, the money you borrow you must repay it back that why is better you use it for reasonable thing to motivate you in repaying it back. They don't borrow to start a business but they borrow to improve the existing besiness.

xSkylarx

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Quote from: terrorJR on December 30, 2021, 04:11:42 PM

Quote from: freedomgo on December 29, 2021, 04:31:33 PM

Quote from: terrorJR on December 29, 2021, 02:16:13 PM

with benefits that you don't know for sure will get or not, actually investing using a loan will only make you think extra and your mind will be divided between investing and thinking about how to pay off the money you borrowed.
Of course this will only add to your thinking instead of getting comfortable in investing, things like this will only make you someone who is confused about solving problems.
because when this happens if you don't get a return on investment you will only be able to think about borrowing money back to pay off existing debts. and it will continue until things get worse

This is really possible if you invest in crypto without an assurance when to make profits. In the first eplace, borrowing money is not really a good thing to do especially that there is always a high risk in cryto investment. When you need to pay your loan and yet, you're not making profits yet, there are always high chances that you will create another loan to cover your first loan, so that will create more stress and pressures on your part and yaou wiill live with it until you become debt free. So now that you see what will happen ahead, then never start engaging in it.

this is the important point and things like this should be realized by people who want to borrow for investment.
But the problem is that sometimes people never look in this direction and are more concerned with their ego and greed.
I don't know if that's optimistic or not in the crypto world because they believe so much in investing by borrowing money and are optimistic that they will make a profit in the near future. but I think it's a pretty risky action and it seems like a stupid thing to do

I think it is not stupid if you have a backup plan . It is really difficult to take risk to loan money if you are eager to invest but the problem is that how do you pay it if you lost that money. It is pretty good that you shouldn't think only of the profit but also think on how you pay that debt. But if you take that risk when some people gets lucky and they get their investment 3x but still it is really risky

chikading2016

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Well if we borrowed money and used it for our needs specially for emergency needs that was still a right decisions, but if you borrowed money to spend it for what you wanted then that was wrong, we need valid reason in borrowing money to avoid regrets. In crypto we need to invest on what we can afford to loss because crypto is so risky and borrowing money for crypto is very high risk.

stadus

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Quote from: izsara on January 01, 2022, 01:54:05 PM

Quote from: Findingnemo on January 01, 2022, 09:26:08 AM

Quote from: molsewid on December 30, 2021, 11:01:50 AM

Quote from: lienfaye on December 29, 2021, 08:07:45 PM

I have the same opinion. Regardless how profitable and good the investment is, I dont advice anyone to take a loan just to invest because we never know what lies ahead and there's no guarantee that you'll get an income from that investment. If you're rich then I think it would be fine since most of these people are already aware and prepared for the risk and has a back up plan incase their investment turned out to be bad. But for an average investor who are really eager to earn, taking a loan is a risky thing to do.

Many projects nowadays are seem profitable in the long run but still, we have to think deeply if its really worth it or might be another scam that will take away your money.

Borrowing or apply loan in a bank to invest in a business or real state is somehow a good decision because this kind of investment will not take almost all your borrowed money once lost but investing it in cryptocurrency is a totally different kind of investment. Easy profit but easy to lose also, good thing if you know how to analyze the market, know how to search and find good project that will going to be good investment but somehow this kind of opportunity is rare in crypto, deep knowledge about technical analysis is required. So yeah, I would also not hoing to suggest taking a loan and invest it in crypto.

It depends on their financial status to be honest, if someone is already rich and have million dollars in their bank account they are going to take loan for any kind of investment even though they can invest their own money but its because they want to make money with the money they don't have so they can generate revenue from nowhere and pay the mortgage as well but if goes wrong they will pay the loan with the money in their bank account but imagine what will happen if someone doesn't have money to repay the loan.

I actually don't really care about people who make loans to invest because it's their choice that they may think is very profitable.
but as you said when people who have no money try to live a life like that the result will only make them slump and fall even more because of the monthly installments and interest that must be paid. it's better if it can produce quickly, what if it's not, it's tantamount to suicide that causes them to fall into debt

I guess whenever a person decides to take loans, he must be thinking on how to repay it in the first place, knowing that there should be some other resources aside from the crypto investment. But if you have no other resources that can generate an income, then relying on crypto alone will only make yourself stressed out and become pressured because it does not give profits with its definite time. Most of the time, you will only get profitable if the market gets bullish but this does not happen all the time. So its better to think a hundred times before taking loans.

izsara

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Quote from: Findingnemo on January 01, 2022, 09:26:08 AM

Quote from: molsewid on December 30, 2021, 11:01:50 AM

Quote from: lienfaye on December 29, 2021, 08:07:45 PM

I have the same opinion. Regardless how profitable and good the investment is, I dont advice anyone to take a loan just to invest because we never know what lies ahead and there's no guarantee that you'll get an income from that investment. If you're rich then I think it would be fine since most of these people are already aware and prepared for the risk and has a back up plan incase their investment turned out to be bad. But for an average investor who are really eager to earn, taking a loan is a risky thing to do.

Many projects nowadays are seem profitable in the long run but still, we have to think deeply if its really worth it or might be another scam that will take away your money.

Borrowing or apply loan in a bank to invest in a business or real state is somehow a good decision because this kind of investment will not take almost all your borrowed money once lost but investing it in cryptocurrency is a totally different kind of investment. Easy profit but easy to lose also, good thing if you know how to analyze the market, know how to search and find good project that will going to be good investment but somehow this kind of opportunity is rare in crypto, deep knowledge about technical analysis is required. So yeah, I would also not hoing to suggest taking a loan and invest it in crypto.

It depends on their financial status to be honest, if someone is already rich and have million dollars in their bank account they are going to take loan for any kind of investment even though they can invest their own money but its because they want to make money with the money they don't have so they can generate revenue from nowhere and pay the mortgage as well but if goes wrong they will pay the loan with the money in their bank account but imagine what will happen if someone doesn't have money to repay the loan.

I actually don't really care about people who make loans to invest because it's their choice that they may think is very profitable.
but as you said when people who have no money try to live a life like that the result will only make them slump and fall even more because of the monthly installments and interest that must be paid. it's better if it can produce quickly, what if it's not, it's tantamount to suicide that causes them to fall into debt

uneng

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Which metaverse do you talk about? Because it seems there are several groups and companies attempting to create their own metaverses versions.

I don't know if they would be connected among themselves, but I see no point on this yet as a big thing, because it's useless to create an avatar to have access to the same sites and services I can have at this moment by myself.

And if people want to incorporate themselves in another characters and personalities there are lots of online games where they can do this.

Probably the closest project to a metaverse going to be launched in the next years is going to be GTA 6.

Findingnemo

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Quote from: molsewid on December 30, 2021, 11:01:50 AM

Quote from: lienfaye on December 29, 2021, 08:07:45 PM

I have the same opinion. Regardless how profitable and good the investment is, I dont advice anyone to take a loan just to invest because we never know what lies ahead and there's no guarantee that you'll get an income from that investment. If you're rich then I think it would be fine since most of these people are already aware and prepared for the risk and has a back up plan incase their investment turned out to be bad. But for an average investor who are really eager to earn, taking a loan is a risky thing to do.

Many projects nowadays are seem profitable in the long run but still, we have to think deeply if its really worth it or might be another scam that will take away your money.

Borrowing or apply loan in a bank to invest in a business or real state is somehow a good decision because this kind of investment will not take almost all your borrowed money once lost but investing it in cryptocurrency is a totally different kind of investment. Easy profit but easy to lose also, good thing if you know how to analyze the market, know how to search and find good project that will going to be good investment but somehow this kind of opportunity is rare in crypto, deep knowledge about technical analysis is required. So yeah, I would also not hoing to suggest taking a loan and invest it in crypto.

It depends on their financial status to be honest, if someone is already rich and have million dollars in their bank account they are going to take loan for any kind of investment even though they can invest their own money but its because they want to make money with the money they don't have so they can generate revenue from nowhere and pay the mortgage as well but if goes wrong they will pay the loan with the money in their bank account but imagine what will happen if someone doesn't have money to repay the loan.

stomachgrowls

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Quote from: molsewid on December 30, 2021, 11:01:50 AM

Quote from: lienfaye on December 29, 2021, 08:07:45 PM

I have the same opinion. Regardless how profitable and good the investment is, I dont advice anyone to take a loan just to invest because we never know what lies ahead and there's no guarantee that you'll get an income from that investment. If you're rich then I think it would be fine since most of these people are already aware and prepared for the risk and has a back up plan incase their investment turned out to be bad. But for an average investor who are really eager to earn, taking a loan is a risky thing to do.

Many projects nowadays are seem profitable in the long run but still, we have to think deeply if its really worth it or might be another scam that will take away your money.

Borrowing or apply loan in a bank to invest in a business or real state is somehow a good decision because this kind of investment will not take almost all your borrowed money once lost but investing it in cryptocurrency is a totally different kind of investment. Easy profit but easy to lose also, good thing if you know how to analyze the market, know how to search and find good project that will going to be good investment but somehow this kind of opportunity is rare in crypto, deep knowledge about technical analysis is required. So yeah, I would also not hoing to suggest taking a loan and invest it in crypto.

Not always a good option but if you dont have any choice then this should really be in last resort but if not then you should make investment out of your own money if possible because nothing beats out

when you are confident that you arent paying some loan or interest later on or you wont really get pressured if you do mind about on paying something and could simply wait up for your investment
results.

Dont borrow if its not needed or necessary but its your choice whether you do really take such step out of desperation but its not really that recommendable.

terrorJR

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Quote from: freedomgo on December 29, 2021, 04:31:33 PM

Quote from: terrorJR on December 29, 2021, 02:16:13 PM

with benefits that you don't know for sure will get or not, actually investing using a loan will only make you think extra and your mind will be divided between investing and thinking about how to pay off the money you borrowed.
Of course this will only add to your thinking instead of getting comfortable in investing, things like this will only make you someone who is confused about solving problems.
because when this happens if you don't get a return on investment you will only be able to think about borrowing money back to pay off existing debts. and it will continue until things get worse

This is really possible if you invest in crypto without an assurance when to make profits. In the first eplace, borrowing money is not really a good thing to do especially that there is always a high risk in cryto investment. When you need to pay your loan and yet, you're not making profits yet, there are always high chances that you will create another loan to cover your first loan, so that will create more stress and pressures on your part and yaou wiill live with it until you become debt free. So now that you see what will happen ahead, then never start engaging in it.

this is the important point and things like this should be realized by people who want to borrow for investment.
But the problem is that sometimes people never look in this direction and are more concerned with their ego and greed.
I don't know if that's optimistic or not in the crypto world because they believe so much in investing by borrowing money and are optimistic that they will make a profit in the near future. but I think it's a pretty risky action and it seems like a stupid thing to do

molsewid

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Quote from: lienfaye on December 29, 2021, 08:07:45 PM

I have the same opinion. Regardless how profitable and good the investment is, I dont advice anyone to take a loan just to invest because we never know what lies ahead and there's no guarantee that you'll get an income from that investment. If you're rich then I think it would be fine since most of these people are already aware and prepared for the risk and has a back up plan incase their investment turned out to be bad. But for an average investor who are really eager to earn, taking a loan is a risky thing to do.

Many projects nowadays are seem profitable in the long run but still, we have to think deeply if its really worth it or might be another scam that will take away your money.

Borrowing or apply loan in a bank to invest in a business or real state is somehow a good decision because this kind of investment will not take almost all your borrowed money once lost but investing it in cryptocurrency is a totally different kind of investment. Easy profit but easy to lose also, good thing if you know how to analyze the market, know how to search and find good project that will going to be good investment but somehow this kind of opportunity is rare in crypto, deep knowledge about technical analysis is required. So yeah, I would also not hoing to suggest taking a loan and invest it in crypto.

lienfaye

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Quote from: Rengga Jati on December 29, 2021, 06:40:34 PM

And I am still with my personal opinion, never take a loan for investment.

I have the same opinion. Regardless how profitable and good the investment is, I dont advice anyone to take a loan just to invest because we never know what lies ahead and there's no guarantee that you'll get an income from that investment. If you're rich then I think it would be fine since most of these people are already aware and prepared for the risk and has a back up plan incase their investment turned out to be bad. But for an average investor who are really eager to earn, taking a loan is a risky thing to do.

Many projects nowadays are seem profitable in the long run but still, we have to think deeply if its really worth it or might be another scam that will take away your money.

Rengga Jati

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If this is still related to money loan, I will prefer to to take a loan for any activities, moreover for investment.
I know that many big companies and rich people invest their money in Metaverse. But I know also that they have that money, not from loans. So when their investment is lost, they will think only about the loss and get into other investment. Although their money are lost, those are their money, not a loan.
I am sure that investment needs wisdom, it is not only about getting profits after 5years later with very good ROI. But it is also about our responsibility when loan money, we must pay the banks every month and others. And if we cannot fulfil this, we are on big trouble.
And I am still with my personal opinion, never take a loan for investment.
I have my own plans and I ma sure that other people also have the plans. We can invest in Metaverse and also other cryptocurrencies in which having good potential and possibilities, but not from a loan. So better to be wise, in diversifying, managing money, and also doing the investment in some ways or places.

freedomgo

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Quote from: terrorJR on December 29, 2021, 02:16:13 PM

Quote from: Botnake on December 27, 2021, 02:57:47 PM

Quote from: terrorJR on December 27, 2021, 02:43:40 PM

Quote from: Cling18 on December 26, 2021, 01:31:14 PM

There's nothing wrong with loaning or borrowing but, to be honest, it's better if we'll not borrow funds to expand our assets. Crypto investment is profitable even metaverse but borrowing to invest more has huge risk and might only lead you to regrets in the end. It's better to save before investing so you'll have all the control over your investment without any pressure.

I agree with what you said, it's true that we are free to do anything including borrowing and borrowing.
But if we borrow with the aim of developing assets, even though we are already pros, I think this is still full of risks.
not without reason, because indeed here there is no guarantee that forever we will experience profits because of course there will be times when we will experience losses.
besides that it is better with own assets even with fewer assets but no debt compared to making excessive risk by borrowing funds from other people in the hope of getting a profit. this is not very good.

I think in all types of investments, knowing that they have their own risks, borrowing money is never a good start. Of course, it can expand or widen your assets but if you are entering in a market with no guaranteed profits, then it will only cause pressures and troubles later on thinking where to get the money that you will use to pay. Although crypto gives us huge profits, definitely bigger from other types of investments, but there is no fixed time or date as when to get the profits so paying the debt will mostly be compromised.

with benefits that you don't know for sure will get or not, actually investing using a loan will only make you think extra and your mind will be divided between investing and thinking about how to pay off the money you borrowed.
Of course this will only add to your thinking instead of getting comfortable in investing, things like this will only make you someone who is confused about solving problems.
because when this happens if you don't get a return on investment you will only be able to think about borrowing money back to pay off existing debts. and it will continue until things get worse

This is really possible if you invest in crypto without an assurance when to make profits. In the first eplace, borrowing money is not really a good thing to do especially that there is always a high risk in cryto investment. When you need to pay your loan and yet, you're not making profits yet, there are always high chances that you will create another loan to cover your first loan, so that will create more stress and pressures on your part and yaou wiill live with it until you become debt free. So now that you see what will happen ahead, then never start engaging in it.

terrorJR

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Quote from: Botnake on December 27, 2021, 02:57:47 PM

Quote from: terrorJR on December 27, 2021, 02:43:40 PM

Quote from: Cling18 on December 26, 2021, 01:31:14 PM

There's nothing wrong with loaning or borrowing but, to be honest, it's better if we'll not borrow funds to expand our assets. Crypto investment is profitable even metaverse but borrowing to invest more has huge risk and might only lead you to regrets in the end. It's better to save before investing so you'll have all the control over your investment without any pressure.

I agree with what you said, it's true that we are free to do anything including borrowing and borrowing.
But if we borrow with the aim of developing assets, even though we are already pros, I think this is still full of risks.
not without reason, because indeed here there is no guarantee that forever we will experience profits because of course there will be times when we will experience losses.
besides that it is better with own assets even with fewer assets but no debt compared to making excessive risk by borrowing funds from other people in the hope of getting a profit. this is not very good.

I think in all types of investments, knowing that they have their own risks, borrowing money is never a good start. Of course, it can expand or widen your assets but if you are entering in a market with no guaranteed profits, then it will only cause pressures and troubles later on thinking where to get the money that you will use to pay. Although crypto gives us huge profits, definitely bigger from other types of investments, but there is no fixed time or date as when to get the profits so paying the debt will mostly be compromised.

with benefits that you don't know for sure will get or not, actually investing using a loan will only make you think extra and your mind will be divided between investing and thinking about how to pay off the money you borrowed.
Of course this will only add to your thinking instead of getting comfortable in investing, things like this will only make you someone who is confused about solving problems.
because when this happens if you don't get a return on investment you will only be able to think about borrowing money back to pay off existing debts. and it will continue until things get worse

Mahanton

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Quote from: Oasisman on December 27, 2021, 04:06:37 PM

Quote from: BITCOIN4X on December 27, 2021, 03:25:14 PM

Quote from: Botnake on December 27, 2021, 02:57:47 PM

I think in all types of investments, knowing that they have their own risks, borrowing money is never a good start. Of course, it can expand or widen your assets but if you are entering in a market with no guaranteed profits, then it will only cause pressures and troubles later on thinking where to get the money that you will use to pay. Although crypto gives us huge profits, definitely bigger from other types of investments, but there is no fixed time or date as when to get the profits so paying the debt will mostly be compromised.

So far I don't think I should make a loan to invest, but I'm sure some people have done it a long time ago. I am not quite comfortable with investing from borrowed money even though I really believe that my investment will be profitable. You're right about the risk, it never guarantees a decent return so anyone should consider that when investing with borrowed money. Maybe not exactly a long term investment, but I prefer to call it moment trading where traders (borrowers) can repay their loans faster.

No one is comfortable in a position where you are indebted because you want to invest. Some, might've took the risks and were able to pay all the loan because they can actually pay for it coming for their own pocket, it's just that they does not want to miss out the dip and grab the opportunity to buy with a huge capital. However, that's not really advisable. Especially when you're struggling to pay your bills.
Investment like crypto doesn't promise or guarantee you a scheduled return. You might end up selling them in the lower price when you buy them just to pay your loan.

Not really advisable but cant really be avoided on some circumstances on which you would really be needing to act fast or else you would be losing such opportunity this is why several people do end up on having this kind of
decision on which taking up some loan for the sake of investment which you most of the time on where people do rely with those profits that they do gain on repaying those loans thats why
its better to make out some move basing on what you do have and wont tending to borrow or take some loan for that kind of reason but well this is a personal
choice to make if you could take such risk then go ahead.

Topic: Dont just borrow money but for the right reason - page 3. (Read 960 times)