Topic: Quit borrowing - page 9. (Read 2350 times)
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.
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.
The intention or reason why you barrow that matter, I see your point and that's valid.
If you use that money for investment or business and you are expecting good potential returns, then there's nothing wrong with loaning
money, as you are trying to grow your financial capabilities but you are lack in financial aspect, and that second argument, it's true that
using that loan money just to please your material desire, for sure that will going to be a problem in the later part.
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.
I have said before that there is no problem with borrowing as long as they know the risks involved in making monthly payments and they can do that, then it is not wrong, it is just that in this case our dependence must be reduced.When we borrow once and are successful in repaying it, even when we don't need a loan, our brains will be persuaded to do so under the assumption that the previous loan was also well repaid.
This will increasingly become a dependency which in the end will be detrimental to myself I think.
So although borrowing is not wrong, it is important to know that if there is no real use in borrowing then such things should not be done.
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.
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.
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.
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. 
Many people think instantly when they feel they have no money or want to buy things they want, for example motorbikes, gadgets and so on, the presence of online loan services makes people easily in debt, they will regret it when they know that the interest paid is very expensive, it's better to immediately leave bad habits.
I think getting loan for some sort of business is not a good idea because one day your business will be successful therefore you will easily return that sum but those individuals who takes loan just for buying things to be shown as he is a wealthy man is totally on a wrong way. They should think that this bike cannot be good source of earning so instead of this one should take loan to put a base of business and then earn through this business to return loan as well as to buy a bike.
When it comes to gadgets, bikes and other things it is completely not advisable. The value keeps dropping as we keep seeing more number of new devices reaching the market regularly. With properties it is good, but the analysis need to be done precisely. The surrounding should be on the growth phase. This will make the property increase in value over time. So that, even if the loan can't be repaid we won't get affected by debts.
Many people think instantly when they feel they have no money or want to buy things they want, for example motorbikes, gadgets and so on, the presence of online loan services makes people easily in debt, they will regret it when they know that the interest paid is very expensive, it's better to immediately leave bad habits.
I think getting loan for some sort of business is not a good idea because one day your business will be successful therefore you will easily return that sum but those individuals who takes loan just for buying things to be shown as he is a wealthy man is totally on a wrong way. They should think that this bike cannot be good source of earning so instead of this one should take loan to put a base of business and then earn through this business to return loan as well as to buy a bike.
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.
If it's not the reason for the urgent need factor, then avoid loans from anyone because when we really need a loan for treatment or other urgent matters, so we can ask anyone for a loan. But if you are tied to a previous loan and haven't paid it, he definitely won't give you another loan even if we are in a dying condition. Avoid loans if you have enough money to buy them or invest with low funds, it's better than using borrowed money because you will focus on long-term investments and don't have to think about monthly payments for loans. 
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.
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.
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.
So true. But getting out of that cycle is not easy. Because some people really want to get out of the loan cycle but their unstable economic conditions make it difficult for them to leave the habit. because they do it under conditions of compulsion. Because the core problem of the increasing number of people entangled in the loan cycle is due to the increasingly difficult economic situation. High inflation which is not accompanied by an increase in income also triggers people to find it difficult to manage their finances. because the money generated is not worth the increase that soared so rapidly. so more money is being spent than is being made.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.
But everything will indeed return to how our habits control our lifestyle. if we are used to saving, then even the current economic situation will not make it difficult for us. It's just that nowadays more and more people are prioritizing a luxurious lifestyle rather than a simple life. And another trigger is that currently there are more and more loan applications that make it easy for people to make loans. so people start to get addicted.
Indeed, we also cannot rule it out and in fact this is still a problem that is experienced by almost some people who are in the lower middle class of the economy. I'm not going to blame that and indeed if it's really just borrowing the last thing that can be done to support life then I don't think it's a problem. It's just the thought that it's still a solution and it's being done over and over again that makes this a little tricky.
We seem to be suggested to continue borrowing on the grounds that the previous loan was also successful in repayment and this kind of thinking is what worries us.
Yeah, I kinda resonate with the OP, borrowing to solve lack of cash problem is not usually the right way to handle things but it is mostly the only quick option available. If am limited with cash or experiencing red, I will obviously opt in to borrowing to offset my bills because I know I can always repay it back since I have a source of income.
Borrowing money without having the means to pay back is the real danger. You will end up compounding the problem
Also that taking a loan on paying up a loan which it do really impose that potential danger but as long you are really that responsible on repaying up your loans on due time or right time then i dont reallyBorrowing money without having the means to pay back is the real danger. You will end up compounding the problem
see that it would really be a problem.Taking up a loan doesnt mean that you are experiencing problems but this is indeed true the best and fastest way on acquiring cash which you might be using into some other things. It is really just that unwise on taking up some loans just because you do want to buy something which isnt really that beneficial at all.Unless if you do took up some loan but for the sake of
investment on which i could say that it is really that a good move rather on the opposite one.It is really just that you should really make sure of yourself that you would be able to repay it on time
to avoid some potential problems.
But just like on what most people been saying that it would really be better if you do have zero loans.Invest on the amount which you can afford to lose.
Yeah, I kinda resonate with the OP, borrowing to solve lack of cash problem is not usually the right way to handle things but it is mostly the only quick option available. If am limited with cash or experiencing red, I will obviously opt in to borrowing to offset my bills because I know I can always repay it back since I have a source of income.
Borrowing money without having the means to pay back is the real danger. You will end up compounding the problem
Borrowing money without having the means to pay back is the real danger. You will end up compounding the problem
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.
That is what is called the risk of a loan and default due to the business not running normally or experiencing bankruptcy is not a consideration, because after all the bank will not accept reasons for the business being undertaken by the customer to go bankrupt. It is therefore important for anyone taking out a loan to have plen B when problems like this occur. If not, the collateral required when taking the loan will be auctioned according to the agreement between the bank and the loan customer.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.
Not everyone is lucky in building a business or business, and this must be considered before taking a loan from any party, because the worst possibility is when everything we plan doesn't go well and the loan will become our monthly burden to pay. Many entrepreneurs sometimes start a business from loan capital, but when we use all the capital from these sources then that is also not true in my opinion, because there is a risk that we are at stake for the business that is being run.The decision regarding the loan depends on each person and if they intend to develop a business and have a plan when something unexpected happens it is not a problem, but what must be remembered when the worst case occurs regarding the business being carried out and they are required to seek collusion so as not to get into trouble with the loan taken.
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.
So true. But getting out of that cycle is not easy. Because some people really want to get out of the loan cycle but their unstable economic conditions make it difficult for them to leave the habit. because they do it under conditions of compulsion. Because the core problem of the increasing number of people entangled in the loan cycle is due to the increasingly difficult economic situation. High inflation which is not accompanied by an increase in income also triggers people to find it difficult to manage their finances. because the money generated is not worth the increase that soared so rapidly. so more money is being spent than is being made.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.
But everything will indeed return to how our habits control our lifestyle. if we are used to saving, then even the current economic situation will not make it difficult for us. It's just that nowadays more and more people are prioritizing a luxurious lifestyle rather than a simple life. And another trigger is that currently there are more and more loan applications that make it easy for people to make loans. so people start to get addicted.
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.The advantage of having the right knowledge and good understanding of what you are planning with the loan money.
It's not an easy task as you really needed to study the flow and how you anticipate what
will be the possible or potential outcome of your target business or investment.
Borrowing might give you possible outcome if you know the purpose of your loan, if it's
for business or investment that you fully understand, then it's good, but if not, if the purpose
is just to fill your lust or some other sort of things, then better to stop or not to proceed.
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.
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.I think having a loan for a business is kinda risky so it would be applicable only to people who have a stable jobs to pay their loan incase the business failed. Because you will be in debt incase you didn't have pay the loan. And I agree that it would work to start a business if you have proper planning and strategies to make your business work and have a lot of profits. Like it wouldn't be just a trend for the opening but it would be a long term investment since some business only survive due to new opened. Make sure that you study the things to start a business cuz if you don't probably it would lack something that causes your business to fail.
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