Quit borrowing - page 8. | Bitcointalksearch.org

Cryptock

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Quote from: kojektea on May 28, 2023, 03:14:44 PM

they borrow only thinking about how to get rich quickly even though they forget that by borrowing the risk of losing is far greater. they are like betting fate with their investment. if they win they can pay it but if they lose everything they even have to think about how to pay their debts.

some people are very selfish and they keep borrowing money all the time
I have seen so many people who damage others people money for the sake of their fun

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Quote from: Dr.Osh on May 25, 2023, 11:31:44 PM

Quote from: Peanutswar on May 24, 2023, 07:49:17 PM

Actually there's nothing wrong in borrowing money it depends in the person how they take of it for example you borrow money because you want to put those as your finance into your business or any asset that has a good return so that asset makes the money into you to make more that could pay your debt. But if you are a person borrow money and you keep spending for your wants only that's the problem its not about the Borrowing it's about the person who borrow.

yes, there is nothing wrong in borrowing money, but it all depends on the circumstances and goals. maybe it would be wise to think about how to return the money before borrowing money, because there are so many people who are willing to take risks, then borrow money and invest in something that is uncertain. after the investment failed, he could not return the money, and resulted in frustration. After all, it was fine to borrow money as long as his intentions were good, and he could recoup the money he borrowed if his plan didn't work out.

Unnecessary borrowing is not a good habit. And when you are used to borrow money for no reason then you are addicted. I try not borrow and I try not to leand money. That is now my new way of dealing with people

molsewid

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Quote from: Jamala on April 09, 2023, 05:16:14 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.

Sometimes we cannot avoid taking debt or loans like me. In a country that I lived with a regular employee cannot sustain his or her family enough with the minimum amount of salary though my job is white collar but then I have my maintenance so it needed for me to get more money to supply my needs, no matter how you manage your budget still if you don't have the capacity to work for more jobs like me since I'm sick there's no option but to take loans.

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they borrow only thinking about how to get rich quickly even though they forget that by borrowing the risk of losing is far greater. they are like betting fate with their investment. if they win they can pay it but if they lose everything they even have to think about how to pay their debts.

Cryptock

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Quote from: odunybiz on May 27, 2023, 05:59:50 AM

Quote from: YUriy1991 on May 25, 2023, 05:12:49 AM

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns.

Do you support the idea of borrowing loan to get crypto asset? How are you sure if it will come with good potential returns. Well, all I know about borrowing loan is that, you can get a loan to improve your standing business but you shouldn't make a mistake borrowing loan to start a business.

Some people do not have much info about loan and interest and theit life is so affected my it. Have I been at this place I would surly would no invest on loan money no mattet what!

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Quote from: YUriy1991 on May 25, 2023, 05:12:49 AM

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns.

Do you support the idea of borrowing loan to get crypto asset? How are you sure if it will come with good potential returns. Well, all I know about borrowing loan is that, you can get a loan to improve your standing business but you shouldn't make a mistake borrowing loan to start a business.

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Quote from: Gallar on April 10, 2023, 12:56:13 AM

I can understand if the person who is borrowing money is someone who is really desperate, and indeed the economic situation is really down. people with a background like this are understandable.

but what happens if people who are well off still borrow money. not a few rich people, but have a sizable debt, it may result from increasing their business capital or when opening a new branch of their company. it's all still understandable, because this is a business matter.

but what if there are people who borrow money just to look stylish with expensive clothes, expensive food, and luxurious vehicles. this kind of thing is not exemplary, it's no longer a waste, it's more than a waste.
and all of this must be avoided by everyone, if you do not want to be in debt. because don't let pride lead you to misery. just enjoy what is there, don't force it if you can't afford it.

I agree with you. If you really borrow in an emergency, that's okay. Because an emergency is a condition where you really need it.

Borrowing money just for show or spree, it's useless and only makes oneself in a worse condition.

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better not to invest than to do it from the loan. because it will not make us profitable, even our profits will soon run out just to pay off the loan or the interest. if you want to trade with a loan try to do futures trading with a small amount of capital because it's like making a loan because there is a laravege system. I don't forbid borrowing, but it always affects us when we are making investment decisions.

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Quote from: newdevices on May 26, 2023, 04:36:24 AM

Quote from: asyakashi on May 26, 2023, 04:32:41 AM

I think only those who are greedy in seeking profits are willing to borrow money and then make it an investment capital. they do have an investor mentality because they dare to take risks but that actually brings those who invest with borrowed money to get into new problems. crypto investments are not always profitable, while loans must be paid for sure along with the interest every maturity date. I think this is something that should not be done in investing.

Borrowing money for investment capital is not the best option and is more likely to be risky,
so it's better to avoid it and don't force it if you don't have capital yet,
Think carefully about the risks before making a decision.

we need to always learn from other people's mistake. There are people that had borrowed money for investment purposes and they lost the funds ending up with calamity they don't know how to resolve. We need to be very careful on how we borrow money and from what source we are getting the fund from. If the money from family our neighborhood, it could be better and easily resolved but if the money is borrowed from bank or institution then we might be in a big problem especially when the fund is huge. Bank would not want to condole any excuse than to take your property so they can replace it with the fund.

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Quote from: Rockstarguy on May 26, 2023, 04:24:29 AM

Quote from: Litzki1990 on May 24, 2023, 12:42:55 PM

If you don't need much then you shouldn't take a loan at all. Because of this debt, good relations with people become distant relations. The person you borrow from today may give you a loan, but when you fail to repay the loan on time, you will come across as very small-minded and will not help you when you are in trouble later. And if your financial condition is worse then he will force you to repay the loan. At that moment you will realize how bad debt is. So avoid taking loans as much as possible.

The only reason for borrowing money is either for business or something that is very productive that is worth borrowing, and if one should think of to borrow money it should be the amount that can be paid back in a period of time that is okay with the lender. Borrowing money for non productive things that can't generate money is a bad habit. People who borrow money for no good reason have a poor financial life , which they find it so difficult to have savings. Borrowing money should only be for business that can bring high profits that can be able to pay back the money borrowed.

Though it's logical but we know that there are many people out there who borrow money to fill their material needs.

In some cases, they borrow because of emergency and from that loan amount they've started having a hard time budgeting
to pay for it, an additional burden that needed to pay back, as it will generate more interest.

But in a wise side of loaning money/borrowing money, if the intention is to invest or to establish a business, chances
that you can cover the interest and you can pay for the actual loan after you successfully established your business.

Cryptock

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Quote from: bayu7adi on May 26, 2023, 07:02:49 AM

Quote from: asyakashi on May 26, 2023, 04:32:41 AM

crypto investments are not always profitable, while loans must be paid for sure along with the interest every maturity date. I think this is something that should not be done in investing.

Engaging in ventures without being adequately prepared for the accompanying risks is strictly prohibited. While some individuals perceive it as exceedingly foolish and perilous, there exists a cohort of affluent and audacious individuals who employ this approach as a high-stakes gamble. Borrowing money for business purposes is indeed a common practice, as businesses can exhibit promising future prospects, and the discernment of an investor towards a business venture is undeniably astute.

However, it is crucial to refrain from attempting to emulate such practices, for the experience of the wealthy and audacious carries profound implications. Suffering losses with disposable income alone can lead to considerable distress, let alone when relying on borrowed funds. Your collateral will be in jeopardy.

You have mentioned the very vaild point its not secure to jump a boat without learning the art of drifting the boat. Likewise if you want to do something have an adequent knowledge and then give your best.

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Quote from: asyakashi on May 26, 2023, 04:32:41 AM

crypto investments are not always profitable, while loans must be paid for sure along with the interest every maturity date. I think this is something that should not be done in investing.

Engaging in ventures without being adequately prepared for the accompanying risks is strictly prohibited. While some individuals perceive it as exceedingly foolish and perilous, there exists a cohort of affluent and audacious individuals who employ this approach as a high-stakes gamble. Borrowing money for business purposes is indeed a common practice, as businesses can exhibit promising future prospects, and the discernment of an investor towards a business venture is undeniably astute.

However, it is crucial to refrain from attempting to emulate such practices, for the experience of the wealthy and audacious carries profound implications. Suffering losses with disposable income alone can lead to considerable distress, let alone when relying on borrowed funds. Your collateral will be in jeopardy.

newdevices

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Quote from: asyakashi on May 26, 2023, 04:32:41 AM

I think only those who are greedy in seeking profits are willing to borrow money and then make it an investment capital. they do have an investor mentality because they dare to take risks but that actually brings those who invest with borrowed money to get into new problems. crypto investments are not always profitable, while loans must be paid for sure along with the interest every maturity date. I think this is something that should not be done in investing.

Borrowing money for investment capital is not the best option and is more likely to be risky,
so it's better to avoid it and don't force it if you don't have capital yet,
Think carefully about the risks before making a decision.

asyakashi

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I think only those who are greedy in seeking profits are willing to borrow money and then make it an investment capital. they do have an investor mentality because they dare to take risks but that actually brings those who invest with borrowed money to get into new problems. crypto investments are not always profitable, while loans must be paid for sure along with the interest every maturity date. I think this is something that should not be done in investing.

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Quote from: Litzki1990 on May 24, 2023, 12:42:55 PM

If you don't need much then you shouldn't take a loan at all. Because of this debt, good relations with people become distant relations. The person you borrow from today may give you a loan, but when you fail to repay the loan on time, you will come across as very small-minded and will not help you when you are in trouble later. And if your financial condition is worse then he will force you to repay the loan. At that moment you will realize how bad debt is. So avoid taking loans as much as possible.

The only reason for borrowing money is either for business or something that is very productive that is worth borrowing, and if one should think of to borrow money it should be the amount that can be paid back in a period of time that is okay with the lender. Borrowing money for non productive things that can't generate money is a bad habit. People who borrow money for no good reason have a poor financial life , which they find it so difficult to have savings. Borrowing money should only be for business that can bring high profits that can be able to pay back the money borrowed.

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Quote from: Peanutswar on May 24, 2023, 07:49:17 PM

Actually there's nothing wrong in borrowing money it depends in the person how they take of it for example you borrow money because you want to put those as your finance into your business or any asset that has a good return so that asset makes the money into you to make more that could pay your debt. But if you are a person borrow money and you keep spending for your wants only that's the problem its not about the Borrowing it's about the person who borrow.

yes, there is nothing wrong in borrowing money, but it all depends on the circumstances and goals. maybe it would be wise to think about how to return the money before borrowing money, because there are so many people who are willing to take risks, then borrow money and invest in something that is uncertain. after the investment failed, he could not return the money, and resulted in frustration. After all, it was fine to borrow money as long as his intentions were good, and he could recoup the money he borrowed if his plan didn't work out.

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Quote from: barisbilgili on May 25, 2023, 06:19:03 AM

Quote from: YUriy1991 on May 25, 2023, 05:12:49 AM

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns, then this is a reasonable and common strategy for a trader to consider a temporary loan to improve financial capabilities and generate income to repay debts. . On the other hand, if one borrows money solely to fulfill material desires and self-indulgence without a well-thought-out plan of repayment, it can lead to financial difficulties in the future.

besides that there are many unexpected things in life that happen that require immediate costs, sometimes it's education or health problems and in my opinion if the loans made are still in a positive way then that's fine.
I have only ever made loans for the necessities of life, health and education.
and in my opinion if it's for investing or doing business, it's very risky if you take a loan except in the development of an ongoing business and most likely it will get better without big risks like investing.

There were also emergency situations where I decided to borrow but I also consider the risk of it. When borrowing, we have to make sure that we would be able to pay it on time so we won't face consequences in the future. Take loans only if you actually need them, never just because you want to. We should think about setting up emergency funds so that we won't have to take on debt when unanticipated occurrences happen. Borrowing money to invest is not a safe move, especially in the volatile digital market. It would be a major risk because losing is always possible. It will be better to use our savings or our hard earned money in case we decide to invest so we will only be risking the funds that we can only afford to lose.

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Quote from: Uruhara on May 24, 2023, 06:20:33 PM

Quote from: AmoreJaz on May 24, 2023, 06:12:26 PM

Quote from: Uruhara on May 24, 2023, 06:09:13 PM

Quote from: Litzki1990 on May 24, 2023, 12:42:55 PM

If you don't need much then you shouldn't take a loan at all. Because of this debt, good relations with people become distant relations. The person you borrow from today may give you a loan, but when you fail to repay the loan on time, you will come across as very small-minded and will not help you when you are in trouble later. And if your financial condition is worse then he will force you to repay the loan. At that moment you will realize how bad debt is. So avoid taking loans as much as possible.

So true. If it is not urgent then loans should be avoided. especially if it is a need in small quantities. And yeah I agree that if we don't pay on time then our relationship with the borrower can also be a little bad. Or even we will have low feelings. Our self-confidence may also decrease. In essence, a loan can even affect our psychology. hopefully we avoid the loan.

assess your situation and think hard if you really need such loan. if you have other options not to go to this route, take it. as much as possible it is your last resort. it is great to live a simple life without debts. even if you are not having luxury lifestyle but without debts, that's more than enough to live at peace.
sometimes it is your lifestyle that will determine how you treat these material things. just live simply, plain and simple.

I agree that sometimes living simply is the right choice. rather than prioritizing a luxurious lifestyle but it can make us financially unstable. Living simply and not having debt is a good thing and I think happiness and peace will also be easier if we live simply. But sometimes unexpected situations come our way. and to overcome this it is important for us to make preparations from the start. like saving for an emergency fund and such. so that if something urgent comes up, we are prepared and we can avoid borrowing.

Everything has two sides, if we choose a simple life that is not too demanding, our thinking will become regressive, always accepting fate and thereby turning us into cowards, no have the will to strive. But if you set high demands in life, and to do that, you need a lot of money. And to have a lot of money, we need to work hard and work creatively...from there, you will have the life many others dream of. Borrowing money is not advisable, but if you are borrowing money for emergencies or business, it is not so bad that it should be avoided. Sometimes life needs a lot of pressure that makes people keep moving forward to achieve success.

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Quote from: YUriy1991 on May 25, 2023, 05:12:49 AM

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns, then this is a reasonable and common strategy for a trader to consider a temporary loan to improve financial capabilities and generate income to repay debts. . On the other hand, if one borrows money solely to fulfill material desires and self-indulgence without a well-thought-out plan of repayment, it can lead to financial difficulties in the future.

besides that there are many unexpected things in life that happen that require immediate costs, sometimes it's education or health problems and in my opinion if the loans made are still in a positive way then that's fine.
I have only ever made loans for the necessities of life, health and education.
and in my opinion if it's for investing or doing business, it's very risky if you take a loan except in the development of an ongoing business and most likely it will get better without big risks like investing.

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Quote from: YUriy1991 on May 25, 2023, 05:12:49 AM

One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns, then this is a reasonable and common strategy for a trader to consider a temporary loan to improve financial capabilities and generate income to repay debts. . On the other hand, if one borrows money solely to fulfill material desires and self-indulgence without a well-thought-out plan of repayment, it can lead to financial difficulties in the future.

Loans made to open a business field or open a business with the aim of being able to pay it back more quickly while making a profit is a good thing and that clearly cannot be denied because it really makes sense. But if someone who makes a loan for investment and to buy materials for his own pleasure will end up ruined when the borrower starts to charge him based on a predetermined time.

So I agree more that loans are made based on one's self-awareness to make it grow through business and not to be enjoyed like those who consume it excessively in life. Because basically a good and growing business will always provide better profits for its owners, while those who only spend the loan capital will always be poor in their lives and will never develop like other businessmen in this world.

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