I'm not a fan of loans, I try my best to stay away from them. I know what the usual outcome is always, if things go wrong you won't have rest of mind and your reputation will be soiled.
Ever had to take out a loan to help pay for something?
- Thread starter Ravenfreak
- Start date
I am not the kind of person that fancies the collection of loans for my needs because I truly know that it would definitely affect me financially and I always try to work according to my budget.
Taking of loan is one of the major things I always try as much as possible to avoid. I've actually not taken a loan in order to settle any kind of Bill or even venture into any business. But I almost did that some years ago.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
Early 20s is the age when many people focus on their career. There are many people people who also start their career at the age of 30. It all depends on when you get the right kind of opportunity.
This is something that is actually very bad. I believe that there should be some kind of regulation that is going to stop people from trying to ruin people's lives like this.
I have taken loans too for my needs. Due to poor spending of money, I sometimes end up having to take a loan for food or to clear rent. This is so wrong. The money you work hard for is supposed to clear these needs as a priority. Then your wants and luxuries can be paid for using extra money.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
You are very lucky that you have friends that are willing to assist you financially when the need arises, for me it is hard to see someone that would assist me financially even if I promise to pay back
Last edited:
Actually the first time I started my business there was a great need of income or money in other to start the business.
My business was first finance with loan from a cooperative society.
My business was first finance with loan from a cooperative society.
That is great. Sometimes loans are just necessary and helps a lot. I hope you were able to pay back the full loan on time. Business loans can sometimes be so hard to pay back. You will need to be so good in the business in order to pay back.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
Yes, I have taken out ,Taking out a loan can be a helpful way to cover a large expense, but make sure that you are able to make the payments on time and in full.
Taking a loan per say is not wrong. But taking when you're not sure of paying back is very bad. That's why financial advisor always advice that if you want to borrow money, let it be for a business purposes.
I think since the interest rate has been increased by so many companies and financial corporations, loans should be avoided at all cost. High Interest rates are bad for people.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
There are some kinds of businesses that will be able to give you much profit when you take loans and invest on them. Even if the interest rates are increased people will continue to take loans.
Yeah, you should plan on how to pay for a loan before you take it. Otherwise, you may fall badly into bad debt. Also, it is always best to work hard to earn the money for your expenses instead of financing them with loans.
Absolutely, it's important to plan ahead before taking out a loan, as it can be very difficult to pay back if you don't have the necessary funds. as taking out a loan can lead to a cycle of debt that can be difficult to get out of. loans should only be taken out when absolutely necessary, and not used as a form of financing for luxury items or unnecessary expenses.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
Probably, it is always very important and necessary to have a clear-cut plans of how to pay back any kind of loans you take. If not you may end up going into a bad debt.
It's not financially right to start a business with loan, especially loan with interest. Once you borrow money, you'll always find yourself under pressure and, to me, this pressure is unnecessary.
It is usually better to try to find other sources of funding, such as investments or grants, to fund the business. Additionally, it is important to have a firm grasp on the finances of the business and to create a realistic budget before starting a business. This can help to ensure that the business is able to cover its expenses and be successful.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
This is true. Taking loans can become a very addictive habit. Especially when you are used to borrowing for luxuries. You will get the urge to borrow everytime you see something desirable or when you feel like doing something relaxing. It is best to budget for luxury rather than taking loans for it.
Yes, taking out loans can become a very dangerous habit. Even if you are taking out loans for things you want, such as luxuries, it can be easy to become addicted to the habit of borrowing. It is important to budget for luxuries and plan ahead for them. Additionally, it is important to remember that taking out loans can carry a lot of risk, so it is best to be aware of the potential consequences of taking out a loan before doing so.
Newest Directory Listings
WWE Hub is a discussion forum for all things wrestling! Share and chat with other wrestling fans throughout the world!
ABCProxy is cost-effective, ethical residential proxies network!
Similar threads
