That's right, it's not worth borrowing money, then it gets addictive and every month it turns out to be minus that collateral and so around, you need to be able to manage your earnings and not live in a big way.)
There will be times when someone experiences unexpected financial things that result in having to borrow money. In my opinion, this is normal, and maybe everyone has experienced the same thing, including you. What is not allowed is when someone borrows money then they are addicted because they feel it is easy to get money just by borrowing, without them realizing that the debt is accumulating at the end of the month. In the end, they paid off the debt by going into debt. This makes most people depressed and then run away from their responsibilities. 
Topic: Quit borrowing - page 13. (Read 2576 times)
Borrowing money when it's really urgent, I think it's okay. As long as you don't continue to borrow without paying for it. Borrowing is commonplace in society. But we also have to know how to arrange the payment later. People who borrow money also because they have to. But in my opinion, don't borrow too much money, because it can accumulate bigger and become pressure when we pay it off. So it's better to borrow a little money, so that it's light when paying it off.
That's right, it's not worth borrowing money, then it gets addictive and every month it turns out to be minus that collateral and so around, you need to be able to manage your earnings and not live in a big way.)
People get addictive to it as they could get money instant by just borrowing, not knowing that there's an interest for every payment you pay. It's actually stressful to think of your loan than will minus to your income every payroll. You'll also need to budget your money as you need to think of monthly payment to your loan. Borrowing money would be better when it comes to emergency purposes where you really need money not into unnecessary things.
That's right, it's not worth borrowing money, then it gets addictive and every month it turns out to be minus that collateral and so around, you need to be able to manage your earnings and not live in a big way.)
Borrowing more money can leads to more debt and makes it harder to become debt-free. The primary reason for borrowing or taking a loan is living beyond one's means, where expenses exceed income. This kind of problem will become worsen with millions of people are spending more than they can earn and also credit card debt is increasing at alarming rate. So people should quit on borrowing money because it will cause more stress and depression if they wont be able to pay their debts. Debts will be doubled or tripled if you had missed paying the amount due and it would cause a lot more problem to you physically, emotionally and mentally.
Being in debt kills you inside until you pay up. It breaks and uproots your peace of mind. Debts can cripple even your emotions.
I think you should give a try to Robert Kiyosaki's speeches. He often talks about debts and it's pros & cons. He often mentions that if you take out a loan, you'll only have to pay interest rate because loans aren't considered income and are not taxable.
You seem interested in Robert Kiyosaki's views on debt and loans. yes, While it is true that loans are not considered taxable income, interest paid on loans is generally not tax deductible for personal loans, with a few exceptions such as mortgage interest. However, taking on debt is not without risks and potential financial stress before making any major financial decisions in my opinion.
There is nothing wrong if he believes in the principle that Robert Kiyosaki believes in and there is truth in what Kiyosaki said. It is up to us how to apply it in our real lives.
But in reality, it is also difficult to get used to debt because it will be difficult for us to get out of it, even if we say that we are good payers, that's why we can't save anything for future savings in my view and understanding about this matter.
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During my young age, I took a student loan from my school when I was still a high school and they all turned out to be a pain in the ass in the end when I thought that it will all be over after I graduated. As long as you don't screw up your grades in school, you'll definitely be fine but they are still a pain in the ass now that education is a basic need and you almost have no control in deciding whether you should afford a loan or not. I still did not have any source of income that time as I was still dependent on my parents though.
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.
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.
Personally, I avoid borrowing money like the pest. It is so difficult to get out of debt. It would be way easier to work for your money and save some cash in increments instead.
Sure it might take longer but you will be safe.
I think the culture of borrowing money until you are in a hopeless situation and are doomed to spend the rest of your life paying your debts is an american exclusive culture. In my country, we prefer to save our money and/or invest it into useful and profitable ventures. From my experience living in the United States of America for a long time and spending time around Americans, I can definitely say that they seem to be a risk-ignorant people. They appear to be completely oblivious to the consequences of their actions until it catches up to them. Then they are surprised.
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During my young age, I took a student loan from my school when I was still a high school and they all turned out to be a pain in the ass in the end when I thought that it will all be over after I graduated. As long as you don't screw up your grades in school, you'll definitely be fine but they are still a pain in the ass now that education is a basic need and you almost have no control in deciding whether you should afford a loan or not. I still did not have any source of income that time as I was still dependent on my parents though. I think you should give a try to Robert Kiyosaki's speeches. He often talks about debts and it's pros & cons. He often mentions that if you take out a loan, you'll only have to pay interest rate because loans aren't considered income and are not taxable.
You seem interested in Robert Kiyosaki's views on debt and loans. yes, While it is true that loans are not considered taxable income, interest paid on loans is generally not tax deductible for personal loans, with a few exceptions such as mortgage interest. However, taking on debt is not without risks and potential financial stress before making any major financial decisions in my opinion.
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.
And what's wrong with near-zero interest rates? If a person is dumb and doesn't know how to use money, he will be dumb in every condition.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.
Being in debt is the American Dream.
I don't know if you're being sarcastic but that's not the American dream.
It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.
I think you should give a try to Robert Kiyosaki's speeches. He often talks about debts and it's pros & cons. He often mentions that if you take out a loan, you'll only have to pay interest rate because loans aren't considered income and are not taxable. 
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.
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.
Borrowing money isn't always bad. Sometimes we don't get paid, but we don't have enough money for everyday. Borrowing money is one solution, but borrowing for a lifestyle that shouldn't be done. it's necessary to avoid a cycle like that that we have to avoid because it maximizes income while minimizing expenses, what we should do is not stingy, but we have to be good at managing money well so that in the future we can live quietly without debt.
So overall borrowing is thought as nice good by most of the people may be because of interests or return values.
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.
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.
Borrowing money isn't always bad. Sometimes we don't get paid, but we don't have enough money for everyday. Borrowing money is one solution, but borrowing for a lifestyle that shouldn't be done. it's necessary to avoid a cycle like that that we have to avoid because it maximizes income while minimizing expenses, what we should do is not stingy, but we have to be good at managing money well so that in the future we can live quietly without debt.
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.
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.
Borrowing money without earning money for food is a stupid idea and a path to depression.
Take a convenient loan - for education, starting a business, solving a critically important problem, provided you have a job/know/want to earn - not the most optimal, but absolutely acceptable option!
It all depends on what you want, just somewhere to get money and spend it, or to change the level of your life systematically...
Loan or simply borrowing money from other people could be a negative condition of an individual. But ofcourse everything has good and bad side. A good side of this thing is if the individual to make a loan has plans on the amount such as putting it in an investment which has low risk such as starting a small business or even huge such as properties/ apartment. Actually, business owners are taking huge loan to start a business and they are making that business pay their loan, to maximize the money and make it efficient. However, bad side of borrowing or loan is when an individual has no plans of how the money would be paid 'coz eventually it will all be consumed which would put the person at the edge of be needing money again. Bottomline is, borrowing whether it is good or bad, depends on your intention and action to make.
You’re right mate. Borrowing is not all the time bad, neither good. But as long as your intention is to make it more productive like taking chances through investing, or because emergency cases require it so, and you’re capable enough to pay too, then borrowing is never bad at all. However, if you borrow just to satisfy your expensive lifestyle, then that is a very absurd decision. Even if you are capable to pay, your reason is still very invalid and unacceptable. 
Owing depts is like being enslaved until you've paid off... And owing unnecessary loan can be very hard to pay off keeping you in an unhealthy financial state.
What I'm saying is never you borrow to invest ... It's unhealthy.
Credit cards are offering benefits and points and that's why people who own that like them. As long as you're a wise and disciplined spender, you'll not have any troubles with it. And I'm against with taking loans just to have an investment, it's a big no for me. You only invest with your own money and not with someone's money even if you're okay to pay with interest on it. Instead of taking a loan and paying its interest, just save a little by little and use that money as the capital you want to be so that you won't have any burden if your investment is unsuccessful. What I'm saying is never you borrow to invest ... It's unhealthy.
If only people like you save money or have a savings with them, this is the one that you will be using when you are in for emergency and not going to borrow money from someone else. Borrowing money in the past is hard. There are different process and most importantly they require a good collateral but nowadays it's now easy and you can even borrow without any collateral but it doesn't mean you can now run away and plan to not pay the loan because they still have your personal details and you can be reported to the authorities.
It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.
It's crazy if there are people who thinks that borrowing money can make them rich but how or in what way? Maybe they are planning to use this money in gambling, trading or in business but still, there are risks in them. Indeed that the opposite can in fact to them.
Admittedly, the process of taking out loans has become less stringent than it once was. This, however can be said to be a ploy to attract more people who are willing to take loans.
We should understand that whenever a bank gives out a loan to a customer, it’s primarily to make more money for itself and not to actually to help out the customer with his emergency needs. We shouldn’t look to the bank as a Saviour of some sort whenever we need a loan. Banks care more about making more money out of customer deposits in their custody.
Borrowing money to either start or grow your business isn’t such a bad idea cause the potential to make some profits from your business is there. You could actually pay back your debts to the bank comfortably if business is running smoothly. Personally, I think if someone can borrow money from the bank or wherever to gamble in the hopes of winning big, then that individual has a gambling problem that would no doubt further help ruin their finances
I certainly wouldn't disregard loan taking from my perspective as it has helped me many times more than I could ever imagine. As long as the interest added by the organization isn't dubious, then it's a yes for me. Loan taking is meant to be spent wisely and not lavishly.
Many a time we need money to sort out some unforeseen contingencies, and this is not a result of any lavish spending of all sorts. In this scenario now the person in charge has to borrow to fund such an occasion. When it becomes so frequent and the reason is for frivolities, then it is not okay.
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