all types of borrowing not because of an urgent need are not justified, especially for an investment that is very risky but I don't blame them for borrowing with a belief but it's appropriate to see their own ability to borrow so they don't fall into a curse.
If they will resort to this route, they should know the possible repercussions of their action. Because they need to think of the possible worst scenario that may come like losing the money that they borrowed, and so what will happen next if they lost it? How can they pay the debt? Taking a loan is fine as long as you have other means of income that can supplement you in case something goes wrong with your venture. But if not, you will only go deep in debt and that will significantly affect your life like stress and other problems.
I like what is stated above that all type of borrowing that is not urgent is not justified. I run a small business and I don't earn much - but I fulfill my needs and I am happy with what I have - less is more. Unnecessary borrowing is not appreciated.
It's true that we should borrow money only for urgent needs, if borrowing money for investment or fulfilling a lifestyle seems to be avoided.
Sometimes it's greed that makes us take bold decisions to borrow money, then we borrow money that sometimes doesn't plan properly regarding
the payment of the loan installments. So I often find people around me who borrow money from banks for business capital and end up having problems
not long after. Because the business he does can provide enough profit to meet daily needs and pay off debt installments.
In the end, borrowing money only makes it more difficult for a person to life. I prefer people who run a business like you, even if your income is
not large, but all your needs can be met without the need for debt. In the end we must be able to control our greed, so that we can be more grateful
for what we have now.
