Borrowing is not a bad thing you may decides to borrow to sort out your problems mostly any health related issues need money if the person is not financially balanced, such people may decides to borrow and to fixed out their health after which they fully recover and get back their feet they pays back. There are some people who are deliberately subjecting their selves to borrowing money and is common within my country, just in the name to please people around them.
I concur with you that borrowing money is not necessarily a terrible thing, as you noted, but it becomes a negative thing when it becomes a habit because if borrowing becomes a habit, you will always utilize it as a means of surviving .Many young people borrow money, and when they have multiple options for borrowing, they stop working hard to earn money.
But initially as I said in some circumstances it may not be a bad thing, like when you have emergency problems to solve and you have not option than to borrow, and you have means of paying back the money and I think the Idea may be welcome but still we should never rely on borrowing money to always solve our problems.we should always try and have some savings incase does emergencies.
By constitutional right no one is eligible to borrow money if such person doesn't have a means of paying back maybe working or have a shop and even a business. So those who go ahead borrowing people money is at a higher risk if they don't have a means of collateral or what to pay back, you know when a lender keeps imposing these laws to the borrower they will limit their rate of borrowing. So its actually good to save some money for emergency use only.
