The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing money.
If you are borrowing to live above what you earn, you are only putting up yourself for hardship spending what you do not have yet. If you are comfortable already living on your means but just require some sort of financial boost to for some investment or business that you are sure of, borrowing some money to help finance it can be the way forward. Some big companies that have assets borrow sometimes to finance projects, you can also so far you have a well laid out plan about how to pay back. 
Topic: Quit borrowing - page 19. (Read 2572 times)
Quit Borrowing? Why should I quit borrowing money.
Robert Kiyosaki is using debt to earn more money. More businessmen are borrowing money on the banks so that they don't pay taxes. Why should I quit borrowing money if I know that I can earn from the money that I borrow.
After all, it all comes to where will you use the money that you borrowed. We know that there are 2 types of debt which is good, and bad. Good debt is what businessmen like Kiyosaki are doing. They are borrowing money to earn more money thru their business. On the other hand, bad debt is a type of debt where you will use that money to buy something that you just want, and it will not generate any income for you as the borrower.
There's nothing wrong in borrowing money because I'm also borrowing money just to have money to invest. I can pay it monthly so there's no problem for me. Borrowing money to invest is a good thing while borrowing money to buy things you want is a bad thing. Don't say to us that we need to "Quit Borrowing" because it all depends on the use-case of that money.
Robert Kiyosaki is using debt to earn more money. More businessmen are borrowing money on the banks so that they don't pay taxes. Why should I quit borrowing money if I know that I can earn from the money that I borrow.
After all, it all comes to where will you use the money that you borrowed. We know that there are 2 types of debt which is good, and bad. Good debt is what businessmen like Kiyosaki are doing. They are borrowing money to earn more money thru their business. On the other hand, bad debt is a type of debt where you will use that money to buy something that you just want, and it will not generate any income for you as the borrower.
There's nothing wrong in borrowing money because I'm also borrowing money just to have money to invest. I can pay it monthly so there's no problem for me. Borrowing money to invest is a good thing while borrowing money to buy things you want is a bad thing. Don't say to us that we need to "Quit Borrowing" because it all depends on the use-case of that money.
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.
Debt has now become almost a constant companion of every human being. Rising commodity prices and unemployment have further fueled these debt levels. Moreover, nowadays it is said that no one is out of debt. Individuals or governments both are now running their business through debt. However, this debt can be seen in both positive and negative ways. If a person or organization takes a loan and is able to repay it within a reasonable period of time, then it will definitely be positive. Almost all those who have been identified as big businessmen in recent times are now running their businesses on loans. Here they are not taking loans due to lack of money. They are getting more opportunities in other areas by taking this loan. Moreover, they are also getting the benefit of setting up new businesses quickly through this loan. 
well, for now, it seems like a natural thing. everyone's needs always increase over time, but not with income, that's why borrowing, or credit cards are the solution and the beginning of disaster. when a person lives with needs that exceed his income, he is likely to be trapped in debt. it would make him pay debt with debt. it can only be solved by stopping debt, increasing income with a business or side job, or selling valuable items to pay off the debt and starting over.
Borrowing is normal.
That is the problem today, and among other things that is why Bitcoin was created.
Above all, the problem is that it is normal to go into debt to consume. One thing that makes the difference between rich and poor, or rather between people with a rich mentality and people with a poor mentality is that the latter get into debt to consume, to impress the neighbor, because "I deserve it", YOLO and the like, while someone with a rich mentality either does not get into debt or if he does it is to invest.
There is no problem taking a loan, because it is customary for us as humans to do it, the most important thing is that we have to be good at managing it and what the loan is for, for example if to increase your business you can add capital and income, this has often been done a lot people, so we have to know as we should manage the governance to return it every month.
There are many people who default on loans because they cannot manage them properly or someone personally uses the money to fulfill their needs, so this is the wrong thing for us to stay away from bad character, often I see around me they fail to pay loans because they only want their own satisfaction after getting the loan money.
While you can still generate a better income and that is sufficient then never apply for a loan.
Life will be calm without loans.
There are many people who default on loans because they cannot manage them properly or someone personally uses the money to fulfill their needs, so this is the wrong thing for us to stay away from bad character, often I see around me they fail to pay loans because they only want their own satisfaction after getting the loan money.
While you can still generate a better income and that is sufficient then never apply for a loan.
Life will be calm without loans.
I also do not find it too serious, as many people say, if we borrow money to use for purposes such as business or for emergencies, as long as we have a reasonable calculation and repayment plan. Borrowing is normal. Since life is not always as rosy as we imagine, I believe that all of us, from childhood to adulthood, will have to borrow a few times in our lives. It's inevitable unless you have very wealthy parents.
Even more, people consider borrowing an incentive to help them aim and work harder. They prefer a life full of pressure to achieve success, not a life that is too quiet.
Taking a loan is indeed one thing that must be avoided. but for some people who really have urgent needs and there is no other way, borrowing is like a solution at that time. but yeah another problem will come later. what we have to do is we have to be able to measure our personal finances.
When they are in a state of financial urgency and they don't have savings or assets that they can rely on to meet their needs, of course, the short cut is that they will try to find a loan, maybe borrowing is something that is really not a good thing to do, but at this very important moment will have to be done, especially constraints in need or urgent needs, and they are fully required to have to calculate their loan with income, so that later they will not be constrained in terms of payment.
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.
At a time when people don't have money, debt is always the solution that most people think of when it comes to situations like this. Especially for those working who are not paid enough in their company, they are the main customers of the lenders because they mortgage their ATMs to the borrower.
So the lender will only lose if the borrowers also lose. But this is impossible to happen, because all countries around the world are also borrowing money from other countries to survive the crisis they are facing in their country.
That high lifestyle can trigger the growth of debt what else is not supported by high income as you said income and expenses are not balanced. So the most important thing is that we have to be able to manage our lifestyle and manage our money properly so that we can avoid borrowing money that ends up being in debt with high interest. having a lot of debt makes life uncomfortable
Taking a loan is indeed one thing that must be avoided. but for some people who really have urgent needs and there is no other way, borrowing is like a solution at that time. but yeah another problem will come later. what we have to do is we have to be able to measure our personal finances.
When they are in a state of financial urgency and they don't have savings or assets that they can rely on to meet their needs, of course, the short cut is that they will try to find a loan, maybe borrowing is something that is really not a good thing to do, but at this very important moment will have to be done, especially constraints in need or urgent needs, and they are fully required to have to calculate their loan with income, so that later they will not be constrained in terms of payment.
It's a good thing to get oneself determined in taking a step, borrowing is a bad habit except in some cases where it becomes inevitable, we must learn to live a life of ownership, work hard in getting our own things, though it may not be that easy at the start but it's worth it, if you're used to borrowing things from people, you may not have the opportunity to get to work things out for having your own except by grace.
I never thought make loans some funds was bad for all cases, in fact you have to realize that many business people get loans but in reality they are very successful. What does it mean, if you are borrowing for the development of your promising business, then that is good, but if you are borrowing for the needs of daily living then obviously it is a bad choice.I understand what the financial and psychological impact of a loan is, but not everyone will be in the same case. There are many successful businessmen because they get large capital loans, even though some of them also fail when their business is not running smoothly.
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.
Just like every habit, borrowing can easily and quickly become one. Before you know it, you are in an endless loop of debt. It is easy when you borrow money from a family or friend because there is no interest attached but when you borrow from external bodies you would have to pay some interests. This mean that you are pay more than you borrowed. This in itself would lead another strain on your finances and the result is that you find it difficult to stay be financially stable. To solve the debt cycle, sew your suit according to your size. Unless it is an emergency and you have tried all other means, then borrowing should be your last resort. I know some times it is hard but just try and look for a way to increase your source of income. 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.
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.
Borrowing is addicting if the purpose isn't being put into a good use. But there is what call, good debt and this is applicable for businessmen. It's not like you'll borrow to buy bitcoin, that's totally a wrong thing.
You as a borrower have already a good source of income and that will be your main requirement in borrowing, to get a better cash flow and to expand your business which seems to be truly profitable. The banks are going to allow you to borrow but with a limit and this is what business people are doing.
But if you're someone who's borrowing money to buy needs like gadgets, expensive travels and vacation and yet you're not earning that much. That's just irresponsible way of borrowing, yeah, YOLO and you deserve better but that's not the type of description of borrowing to me.
You as a borrower have already a good source of income and that will be your main requirement in borrowing, to get a better cash flow and to expand your business which seems to be truly profitable. The banks are going to allow you to borrow but with a limit and this is what business people are doing.
But if you're someone who's borrowing money to buy needs like gadgets, expensive travels and vacation and yet you're not earning that much. That's just irresponsible way of borrowing, yeah, YOLO and you deserve better but that's not the type of description of borrowing to me.
Borrowing money is something we usually do, in life of course not everything goes according to plan, sometimes sudden costs often occur especially if they have a wife and children, as long as we have the will and ability to pay then borrowing money is not a problem.
Yes, that's not a problem, but it's the beginning of problems that will come in the future. It will be fine when we still have enough income to pay off what we borrow, but are we sure that we will still experience good conditions? of course not. We cannot predict what situations will come to us one day. Sometimes we are too confident about it all, even though we ourselves don't know what will happen. I've seen people who go through this, indeed they are fine, but in the end they have to be really hard when something bad comes. We have to really consider it all before we borrow. 
It's okay to borrow if you intend to pay it back and need it. Sometimes it's necessary, but you shouldn't make it a habit like you will borrow to pay another debt. It will be a never-ending cycle that you will not stop doing until it affects your life and go into some parts of your life. It will manifest somehow.
Unless you borrow for asset purchasing that could generate income, that's one of the best things you can do when borrowing money. Make more money with it.
Unless you borrow for asset purchasing that could generate income, that's one of the best things you can do when borrowing money. Make more money with it.
Such borrower behavior is very bad behavior, borrowing money to cover the previous loan. I also think that sometimes we need a loan at a time when it is really urgent for us, such as when we are in trouble or whatever happens to us, but it is a bad thing to borrow to cover other loans, and what is even worse is to borrow money to fulfill our needs style and style. I know wasting borrowed money to do things that are not useful and I think that is a fatal mistake in using borrowed money.
I totally agree that borrowing money is to expedite a business or buy assets and/or others that will provide us with income, that is the wisest step, I have also seen many people who are already rich do this to develop their business.
Borrowing money can get you out of the financial troubles you are facing, but you may accidentally get caught up in another problem. Borrowing money from friends, relatives or close family might be able to help you overcome financial problems without having to pay interest. if you borrow money from moneylenders it is not a good solution for you, the consequences will be very fatal if you fail to pay off the installments at the appointed time.
You need to manage your finances wisely so that you are not in debt, spend money as needed, and you can use the rest for other unexpected needs. Arrange your finances according to income, don't get caught in digging holes to close holes for borrowing money to pay off debts.
Borrowing is a dangerous deal when people do this to pay a pending bill, for an example. Many people on this situation enter an endless cycle of new loans to pay previous loans, continuously, until the interest rates become so intense that the person can't continue doing this anymore. After all the pending bill becomes much more expensive than the initial one, which lead the person to borrow money for the first time.You need to manage your finances wisely so that you are not in debt, spend money as needed, and you can use the rest for other unexpected needs. Arrange your finances according to income, don't get caught in digging holes to close holes for borrowing money to pay off debts.
Unfortunatelly not everyone have family and friends who they can count on to take some money borrowed, so their only alternative is to appeal to a bank or loan shark. The fact is that such deals are only advised if the person is borrowing money to invest in something solid, which can allow them to calculate how much they are going to make from the investment and how long it's going to take.
Borrowing money can get you out of the financial troubles you are facing, but you may accidentally get caught up in another problem. Borrowing money from friends, relatives or close family might be able to help you overcome financial problems without having to pay interest. if you borrow money from moneylenders it is not a good solution for you, the consequences will be very fatal if you fail to pay off the installments at the appointed time.
You need to manage your finances wisely so that you are not in debt, spend money as needed, and you can use the rest for other unexpected needs. Arrange your finances according to income, don't get caught in digging holes to close holes for borrowing money to pay off debts.
You need to manage your finances wisely so that you are not in debt, spend money as needed, and you can use the rest for other unexpected needs. Arrange your finances according to income, don't get caught in digging holes to close holes for borrowing money to pay off debts.
Another name for borrowing is loan. The rich in our society today didn't become rich from thier own savings. They at some point had to take loans from banks or other loan sharks in order to foot their business ideas.
How else do you think entrepreneurs survive most times?
Where borrowing is bad is when there is no concrete reason for such cash, other than spending.
If for emergencies cash is borrowed, it is reasonable. If cash is borrowed and invested, it is also reasonable. Mind you, investment can come in different many forms.
I do not borrow is it ain't necessary, but if I must to avoid embarrassment, I will borrow, but not above what I can normally afford.
How else do you think entrepreneurs survive most times?
Where borrowing is bad is when there is no concrete reason for such cash, other than spending.
If for emergencies cash is borrowed, it is reasonable. If cash is borrowed and invested, it is also reasonable. Mind you, investment can come in different many forms.
I do not borrow is it ain't necessary, but if I must to avoid embarrassment, I will borrow, but not above what I can normally afford.
You cant quit borrowing, otherwise how will the banks survive? 
Seriously though, we all need money in times of emergencies which is what borrowing should be kept limited to. No wonder the need for this has gone up and hence the influx of payday loan apps on app stores and its complications and consequences.
I think from a trading perspective, playing it safe with limited borrowing is a good habit. But for the real life spendings, we cannot completely be debt free.
Seriously though, we all need money in times of emergencies which is what borrowing should be kept limited to. No wonder the need for this has gone up and hence the influx of payday loan apps on app stores and its complications and consequences.
I think from a trading perspective, playing it safe with limited borrowing is a good habit. But for the real life spendings, we cannot completely be debt free.
Jump to: