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Topic: Quit borrowing - page 10. (Read 2350 times)

hero member
Activity: 1316
Merit: 593
May 23, 2023, 09:31:46 AM
Those who take business loans make good use of it and the business thrives, in which case the loan does not matter to them. on the contrary it is very beneficial for them. and no big businessmen can run their business with their own finance they have to resort to loans and they are able to make good use of it and repay those loans on time.  So it will not be possible to Quit all type of loans.
A businessman will estimate the possible profits that can be achieved every year if they have high capital to build a potential business, so they decide to use a loan to increase business capital and all risks from the loan have been considered if the prediction of business development is not as expected, they must save a reserve fund to pay off the loan time. So I agree that if borrowed funds are used to open up business opportunities, don't use borrowed funds for gambling and drugs.
There is no guarantee that there will always be profit in business, but profit is possible depending on some unique planning and marketing strategies of the business. so here a businessmen can earn huge amount of profit from business by using unique ideas and strategies. so in that case investing in business with loan is not a problem. but if one gambles with loans or invests in high risk areas like crypto then he will make a big mistake and he can face big danger. So if you plan to do anything with the loan, you should think about it a hundred times
member
Activity: 499
Merit: 16
May 22, 2023, 05:05:56 PM
Oh man, we've all been there, right? When you're strapped for cash, it's tempting to keep borrowing money just to get by. But here's the harsh truth: the more you borrow, the deeper you sink into debt. It's like a never-ending cycle.

The sad reality is that many of us are living beyond our means. We're spending more than we earn, and it's only getting worse. Just look at credit card debt—it's skyrocketing like crazy, and it's at an all-time high.

So yeah, borrowing money might seem like a quick fix, but it's not the solution. It's time to break free from this cycle and find better ways to manage our finances. Trust me, getting out of debt is way better than digging ourselves deeper.
sr. member
Activity: 490
Merit: 302
Enterapp Pre-Sale Live
May 22, 2023, 05:03:12 PM
A businessman will estimate the possible profits that can be achieved every year if they have high capital to build a potential business, so they decide to use a loan to increase business capital and all risks from the loan have been considered if the prediction of business development is not as expected, they must save a reserve fund to pay off the loan time. So I agree that if borrowed funds are used to open up business opportunities, don't use borrowed funds for gambling and drugs.
the thing that most often or even every day we experience debt problems, each of us personally we are always related to this debt it cannot be denied because in an era like this debt is something that is commonplace and is no longer a disgrace because If I'm honest, everything is certain have debt.

It's a different story, in ancient times debt was a disgrace, and so on, debt was hidden, so that other people, besides that, loan services weren't as plentiful as they are today. But that was before, now it's different, even when we're at home, we're offered to take out loans and so on, and that's okay.

Debt is not wrong but it must be used correctly, everything and anything that we are not allowed to owe. For me personally there are four things that we should not owe.

1. Debt for consumptive financing, consumptive financing, this lifestyle financing is something we hope to buy by way of debt. This is not allowed, because we can be sure that we will get into debt problems without any solution. let alone having debt beyond our budget or financial capabilities and consumer financing or this lifestyle is really the biggest trap. We hope that a luxurious lifestyle that doesn't prioritize our financial logic can make us fall into a debt trap that doesn't go away.

2. we don't get into debt to build a house to build a house. because if we go into debt to build a house, the budget shuts down. For example, we owe a bank to build a house, which means that this money doesn't go anywhere, only for the house we live in, and that's obviously the heaviest burden because what if the house doesn't generate feedback, it doesn't generate finances that can support income. us because home is something we have to live in.

3. Don't go into debt to start a new business or business. Because I personally don't think we should be in debt for a new business, the reason is, start our new business from scratch with the capital we have, if the business is running smoothly, then we owe it for additional capital.
full member
Activity: 1050
Merit: 109
May 22, 2023, 04:58:06 PM
Borrowing is very common here in our country, especially when it is our relatives. Letting them borrow money is easy but it is hard when you're asking them to return the money they borrowed from you, that's why I don't lend money to people anymore even if they are my friends or even relatives. Lending them money will just make them more irresponsible when it comes to financial thing.

They will pay you using money that they borrowed from someone else, and it will just keep on looping, a never ending cycle of borrowed money.
Not the pleasure of being in debt, or the habit of being in debt. all of us who are in debt certainly want to have all our needs fulfilled without being in debt.
But sometimes there are circumstances that force us to be in debt, which eventually spreads to other debts, as we said, in the end there is a lot of debt.

The suggestion is that if you can't increase your income, you can try learning to tighten your belt first. The existing salary is managed in such a way that the expenses that are usually required are there, even though they are not really important/need to be reduced so that you can repay debt.

Examples of pulses, examples of cigarettes, samples of food or drinks, examples of housing rental fees, etc.
How to save money should not only be for problems when we have debt, but we should also get used to it so that we can set aside income so that we have more spare money. Remember not to "miser" but get used to "setting aside".
debt is not a good practice in our family
One thing I like about my family is to have very good financial dealing and we have always been advised not to loan money and try to live debt free life.
hero member
Activity: 1792
Merit: 507
May 22, 2023, 04:01:30 PM
For us to keep borrow money from any source might gently becomes an habit that might look like nothing to us but this a lone can make us lose big and our respect from people. People who choose to be borrow are doing that at there own risk since there is always a time when the people that are lending others money would want to come for there funds and use them for something else.
people do borrow - but then they return the money.
but most of the time people do not return the money.
full member
Activity: 1204
Merit: 110
May 22, 2023, 03:52:08 PM
Being in debt is the American Dream. And been that way for a while. Fueled with cheap money and near zero interest rates why are you surprised.

The latest generation has never learnt what a high interest rate environment means. Last time rates were high was 20 years ago and most back then we’re all going to remember. Now people got a little overboard with their debt such as housing debt and auto loans.
I disagree
no one would want to be in debt - I personally like people debt free. And those who are good in dealing finances.
member
Activity: 812
Merit: 13
Crypto bookmaker and casino
May 22, 2023, 03:39:15 PM
For us to keep borrow money from any source might gently becomes an habit that might look like nothing to us but this a lone can make us lose big and our respect from people. People who choose to be borrow are doing that at there own risk since there is always a time when the people that are lending others money would want to come for there funds and use them for something else.
hero member
Activity: 2856
Merit: 769
May 22, 2023, 03:31:03 PM
When you're short on cash, it can be difficult to quit borrowing money.

Everyone has been there. We're short on cash and in a lot of debt, but a cover loan to get out of the red and even improve our readiness is the light at the end of the tunnel.

Blissful days? Sadly, no. It all comes down to the straightforward, yet frequently misunderstood, formula that says borrowing more money equals more debt. It is more difficult to return to black the more debt you accumulate.

The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing money. Simply put, incomings are outpacing outgoings. It's also getting worse.

More than at any time in the past two decades, millions of Americans are spending more than they earn. Spending on credit cards, the most common type of personal debt, is estimated to be rising at a rate faster than at any other time in American history.

I have to agree with this philosophy because borrowing money puts you on the completely wrong path in life. With the exception of borrowing money for a mortgage (which in many scenarios can leave you with an asset worth more than the amount you borrowed over a long time period), most other debt will be very bad for you in the long run. There are a few exceptions, like credit cards that allow you to borrow but might give you 24 months interest free as a promotional offer, but these are rare. It is always going to be better for your peace of mind if you can save up in advance of any anticipated costs, or otherwise live within your means. It can often lead to borrowing more and dent what should be your accumulating wealth.
Borrowing money wont really be that bad as long you are really that responsible on repaying it out. Why i can say so? I had made myself to be a successful businessman due to bank loans on which i did make some loan

and apply it on a business on which i did successfully able to make it grown and the revenue or profits i do get is the money i do pay up for the loan+ extra profits which is something that really beneficial.
It is really just a matter on how well you would really be handling up yourself and sticking up with your plans or having that mindset on which you wont take a loan for nothing or something that you would
really be just buying which isnt really beneficial at all. People do continue to get some mortgages without considering that those things are really that be on a the risks of depreciation or something
that you wont benefit on long term.

Better to take a loan if its needed or necessary specially on making up a business, but if not then you should avoid it at all costs because it would really be putting you into huge trouble.
sr. member
Activity: 1582
Merit: 447
May 22, 2023, 03:25:42 PM
This is a case of personal loans between friends, family and relatives, we are often faced with problems like the ones you mentioned and sometimes we don't have the choice whether or not to give the loan to one of these three people. In the case of loans that are general in nature, people will choose to take out loans at leasing or conventional banks and we should avoid loans that are like this. Since several decades in the area where we live there have been lots of loan services that offer convenience and they provide terms and conditions that are not so burdensome, but the interest rates that are calculated are very large when you pay monthly installments.
the average person defaulting on debt is usually their business declining, not that they don't want to pay, but beyond their expectations, their income has decreased, they can't pay their installments, especially with the current world economy, prices are rising. the purpose of loans is to solve problems not become problems, the government (the Financial Services Authority of a country) should provide control over why loan customers cannot pay and supervise loan services that are burdensome to customers.

Quote
When people depend on loans of a nature like this, it is tantamount to risking financial difficulties in the current year, especially since the loans taken are not to support a business or business, but to make ends meet or just to make ends meet lifestyle. This is a form of error and as much as possible people should avoid loans that are not productive, because they will bring much bigger problems in their lives.
This is the fault of many people, they owe only for consumptive purposes. Many people feel stressed about giving up when they have debt because there are so many negative inputs about debt. we have to open wide Don't think narrowly about debt because of debt There are two of these, yes. The first is productive debt and this is about consumptive as you have mentioned. If we take advantage of productive debt, it is better, because most novice entrepreneurs, even big entrepreneurs, are successful with debt, of course, productive debt.
legendary
Activity: 2688
Merit: 1192
May 22, 2023, 03:05:08 PM
When you're short on cash, it can be difficult to quit borrowing money.

Everyone has been there. We're short on cash and in a lot of debt, but a cover loan to get out of the red and even improve our readiness is the light at the end of the tunnel.

Blissful days? Sadly, no. It all comes down to the straightforward, yet frequently misunderstood, formula that says borrowing more money equals more debt. It is more difficult to return to black the more debt you accumulate.

The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing money. Simply put, incomings are outpacing outgoings. It's also getting worse.

More than at any time in the past two decades, millions of Americans are spending more than they earn. Spending on credit cards, the most common type of personal debt, is estimated to be rising at a rate faster than at any other time in American history.

I have to agree with this philosophy because borrowing money puts you on the completely wrong path in life. With the exception of borrowing money for a mortgage (which in many scenarios can leave you with an asset worth more than the amount you borrowed over a long time period), most other debt will be very bad for you in the long run. There are a few exceptions, like credit cards that allow you to borrow but might give you 24 months interest free as a promotional offer, but these are rare. It is always going to be better for your peace of mind if you can save up in advance of any anticipated costs, or otherwise live within your means. It can often lead to borrowing more and dent what should be your accumulating wealth.
hero member
Activity: 1344
Merit: 738
May 22, 2023, 02:33:25 PM
Borrowing is very common here in our country, especially when it is our relatives. Letting them borrow money is easy but it is hard when you're asking them to return the money they borrowed from you, that's why I don't lend money to people anymore even if they are my friends or even relatives. Lending them money will just make them more irresponsible when it comes to financial thing.

They will pay you using money that they borrowed from someone else, and it will just keep on looping, a never ending cycle of borrowed money.
This is a case of personal loans between friends, family and relatives, we are often faced with problems like the ones you mentioned and sometimes we don't have the choice whether or not to give the loan to one of these three people. In the case of loans that are general in nature, people will choose to take out loans at leasing or conventional banks and we should avoid loans that are like this. Since several decades in the area where we live there have been lots of loan services that offer convenience and they provide terms and conditions that are not so burdensome, but the interest rates that are calculated are very large when you pay monthly installments.

When people depend on loans of a nature like this, it is tantamount to risking financial difficulties in the current year, especially since the loans taken are not to support a business or business, but to make ends meet or just to make ends meet lifestyle. This is a form of error and as much as possible people should avoid loans that are not productive, because they will bring much bigger problems in their lives.
hero member
Activity: 2940
Merit: 627
Vave.com - Crypto Casino
May 22, 2023, 02:31:43 PM
A businessman will estimate the possible profits that can be achieved every year if they have high capital to build a potential business, so they decide to use a loan to increase business capital and all risks from the loan have been considered if the prediction of business development is not as expected, they must save a reserve fund to pay off the loan time.
All businessmen know that, they need to allocate some reserve fund if ever the business fails. But that's also what they do to make the business operational and bigger and that's through borrowed funds. So, just in case the business succeeds, it all came from loan money that will get paid by the operations of the business. And in short, there's no cash that these businessmen have pulled out from their pockets.

So I agree that if borrowed funds are used to open up business opportunities, don't use borrowed funds for gambling and drugs.
It should always been the case, borrowed funds for operational business and not with gambling and other activities that may cause addiction.
sr. member
Activity: 831
Merit: 286
Next Generation Web3 Casino
May 22, 2023, 02:20:36 PM
Those who take business loans make good use of it and the business thrives, in which case the loan does not matter to them. on the contrary it is very beneficial for them. and no big businessmen can run their business with their own finance they have to resort to loans and they are able to make good use of it and repay those loans on time.  So it will not be possible to Quit all type of loans.
A businessman will estimate the possible profits that can be achieved every year if they have high capital to build a potential business, so they decide to use a loan to increase business capital and all risks from the loan have been considered if the prediction of business development is not as expected, they must save a reserve fund to pay off the loan time. So I agree that if borrowed funds are used to open up business opportunities, don't use borrowed funds for gambling and drugs.
sr. member
Activity: 420
Merit: 272
May 22, 2023, 02:13:42 PM
Borrowing is very common here in our country, especially when it is our relatives. Letting them borrow money is easy but it is hard when you're asking them to return the money they borrowed from you, that's why I don't lend money to people anymore even if they are my friends or even relatives. Lending them money will just make them more irresponsible when it comes to financial thing.

They will pay you using money that they borrowed from someone else, and it will just keep on looping, a never ending cycle of borrowed money.
Not the pleasure of being in debt, or the habit of being in debt. all of us who are in debt certainly want to have all our needs fulfilled without being in debt.
But sometimes there are circumstances that force us to be in debt, which eventually spreads to other debts, as we said, in the end there is a lot of debt.

The suggestion is that if you can't increase your income, you can try learning to tighten your belt first. The existing salary is managed in such a way that the expenses that are usually required are there, even though they are not really important/need to be reduced so that you can repay debt.

Examples of pulses, examples of cigarettes, samples of food or drinks, examples of housing rental fees, etc.
How to save money should not only be for problems when we have debt, but we should also get used to it so that we can set aside income so that we have more spare money. Remember not to "miser" but get used to "setting aside".
sr. member
Activity: 1260
Merit: 390
★Bitvest.io★ Play Plinko or Invest!
May 22, 2023, 01:33:50 PM
An unnecessary debt actually equates to having more financial troubles, there are many that can’t coat their wants  in shape with their wages mostly because of the class they belong to. But there are others that actually borrow money for critical needs or situations that their savings can’t really cover.
Unnecessary loans are taken by those who are addicted to gambling or drugs because usually they do not have any job and they do not get any financial support from family for these activities. and that's when they turn to loans. and they can never make savings and on the contrary face many dangers

Quote
Also there are many businesses that have been built through loan or grants and they went all the way to been successful. The only way loan or borrowing isn’t advice is when it is done to acquire material stuffs that are more less liabilities rather than a source of income or a means to save ones dear life. Otherwise loans aren’t all that bad
Those who take business loans make good use of it and the business thrives, in which case the loan does not matter to them. on the contrary it is very beneficial for them. and no big businessmen can run their business with their own finance they have to resort to loans and they are able to make good use of it and repay those loans on time.  So it will not be possible to Quit all type of loans.
member
Activity: 742
Merit: 11
May 22, 2023, 01:21:10 PM


Borrowing money is a vicious cycle that can trap you in debt. You may think a loan will solve your problems, but it will only make them worse. The more you borrow, the harder it is to pay back. The root cause is living beyond your means. You need to spend less than you earn and avoid credit cards that tempt you to overspend.
hero member
Activity: 1498
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Leading Crypto Sports Betting & Casino Platform
May 22, 2023, 01:17:15 PM
I felt guilty on this one hence I am used to borrow money from borrowing cash app available in my country though I have valid reasons to bite the offer due to emergency situations before but the importantly I am one payment away to fully paid my debt. So, after that I will not involved anymore with DEBT, I am over it period so that I can sleep quietly without thinking about debts.
The thing is, these offers were made available so you could use them in emergency situations and meet up investment plans amongst others.

The thing is, people have abused the system, seeing it as one way to make free money. Many even borrow with the intention of never paying back.
That's an abuse of the whole privilege ad those that could have actually benefited from these loan offers.
Borrowing money isn't always a best idea. Sometimes, you've got to try until you find it to be a last option.
True, we have to place borrowing money as a last resort when the situation is urgent, and from that last option we must also consider where we will borrow money from. There are two choices, from relatives or family where there is definitely no interest that we have to pay, or from a loan provider company and we are required to pay interest and even fines when we are late to pay it on time. And we have to try the first one first, namely borrowing from relatives or family, if that doesn't work the final option is to borrow money from a loan provider company. We have to think long and hard when we are like this, and don't regret our choice.
hero member
Activity: 1386
Merit: 731
Leading Crypto Sports Betting & Casino Platform
May 22, 2023, 01:01:00 PM
Borrowing money can be a temporary solution to financial issues, but still it can lead to more debt in the long run.
The purpose of making a loan is to solve financial problems in the sense that the borrower has no other choice but to make a loan. They don't expect to encounter any problems during the loan repayment period, but the risk is definitely there because one never knows when your source of income will dry up and how your source of income will dry up.

In the Covid19 era, many borrowers had to experience loan repayment problems because their source of income was reduced. The government took the initiative to provide an extension of the repayment period wherein within a certain period of time the borrower does not have to pay a penny for the loan. However, after the grace period has passed, the bank and borrowers only realize the impact. Many bad loans lead to foreclosure of property, it is a risk that actually becomes a consequence for the borrower.
hero member
Activity: 1288
Merit: 504
May 22, 2023, 12:33:10 PM
I felt guilty on this one hence I am used to borrow money from borrowing cash app available in my country though I have valid reasons to bite the offer due to emergency situations before but the importantly I am one payment away to fully paid my debt. So, after that I will not involved anymore with DEBT, I am over it period so that I can sleep quietly without thinking about debts.
The thing is, these offers were made available so you could use them in emergency situations and meet up investment plans amongst others.

The thing is, people have abused the system, seeing it as one way to make free money. Many even borrow with the intention of never paying back.
That's an abuse of the whole privilege ad those that could have actually benefited from these loan offers.
Borrowing money isn't always a best idea. Sometimes, you've got to try until you find it to be a last option.
member
Activity: 2044
Merit: 16
May 22, 2023, 02:13:14 AM
I felt guilty on this one hence I am used to borrow money from borrowing cash app available in my country though I have valid reasons to bite the offer due to emergency situations before but the importantly I am one payment away to fully paid my debt. So, after that I will not involved anymore with DEBT, I am over it period so that I can sleep quietly without thinking about debts.
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