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Saving Money vs Getting a Loan and/or Credit Card

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I have not for once taken loan, I can only recommend loan to someone when there's an ill someone in the hospital and there is little or no money to pay the bill or when a student want to resume school when he or she just got admitted and there's money for registration.
But for business, seriously I won't advise anyone to go for loan.
 
Its sort of strange for us in this part of the world as the economy is cash based thereby making no provision for credit cards. Though it has its benefit i wouldn't want to personally wallow in debts that will take more than enough time to pay off.
It boils down to cutting your coat according to your cloth.
 
Saving money for difficult timr is good habit and i personally never took loan from any other persons and organisations because i save money for any natural incidents that mostly happens now a days ..So i think if our desires are limited then we can save money even our salary are too low.
 
It depends, getting a loan should be on the purpose of going into a business or using the money for something that will generate income, It will be unwise to just get a loan without a proper plan on how to make more money to pay back.
 
saving money is a good thing but it's not quite easy to save money .taking loan is a risky activities but as long as you have something lucrative to invest in,it will yield positively
 
Either has its advantage and disadvantage. Going for a loan is much more easier but one will have to worry about paying back, in a positive light this can also make you work twice as hard to pay back your debt. Saving takes a much longer time for you to acquire the capital needed to start the business but that also gives you the advantage of studying the business you're trying to venture in to see if it is really for you.
 
I think saving my own money will be the best for me because I will not be worried on how to pay any loan and I will live my life peacefully, but going for a loan makes the amount of money you're looking for available in a short times but not investing such money well will lead to dept, life will be very hard for such persons
 
Saving money is the best option out of all three options you listed out there, Loans can be tricky, the funniest thing about loan is that if you not careful it already have a fix budget for it you might end up spending the loan money anyhow, the same goes for credit card, you keep procrastinating that you will pay back but when it's time to you find it extremely difficult, which at the end of the day you will still have to save to counter the two options. That's why I said saving is the best option.
 
I would rather borrow money from friends than collect loan from the bank or any organisation, on the other hand if I'm left to choose between getting a loan or saving money then I would go with the option of saving money, no matter how long it might take I would ha patient, as I don't want to have anything to do with collecting loans.
 
Though in recent times it's not quite easy to save money, it takes a lot of hard work and input of time to gather enough money to start a business but is still more advisable than taking out a loan because there are many things that could go wrong why starting a business and paying back the loan we will be so difficult if things was not work out as planned.
I can't really blame people because most times some people find themselves in unexpected situations and nothing can be done about it except taking out a loan.
 
If you save first and don't focus on paying down your debt, you'll pay more money over time in credit card interest charges. Since credit card interest rates are often higher than savings interest rates, you end up spending more money on debt interest than you'd earn on your savings investment.
 
Saving to set up a business or an enterprise is good, but then you should think about the job you do and how much it pays. Saving to set up something big can be a really difficult task for any one Perosn, except you have help from family. In other words, if you get a loan that is favorable, one you can work with to achieve your goal, then you can easily pay back without stress.
 
I do not support of getting loan from bank to be running a business, it is better to be saving a money for a purpose things. If you have goals for saving money, I mean reason of saving money you will definitely able to accumulate the amount you budget to get.
 
This topic requires a two ways treatment. You may find it difficult to save because your salary is small but you must still save because it is the best way to attend to unexpected needs. On the other hand, some people can not do anything except they have to pay back the money they borrow to take care of that responsibility.
 
Yes you are correct. In as much as many people might hate the idea, the truth is sometimes financial responsibility can be too much to the extent that you have no option but take a loan.
But saving money is still crucial if you want to avoid taking loans.
 
According to my own point of view, it is better to get a loan, to start up your business since you are unable to safe enough money to start up a business, but some people will prefer get a credit card, but loan is better because you can get any amount you want from loan, but on credit card, it has limits
 
Well if you are going to obtain a loan, make sure you do so in order arquire an assest that will pay back the loan and still continue to give you passive income in the nearest future. You can choose to go saving way if it happens that you cannot secure a sizable loan. As for the credit card, the unwise move is the use the credit card to acquire liability for self as this will affect you quality score if you are unable to pay back on time.
 
It depends on how you're saving your money, is it a place where no interest is forthcoming, if there's any interest for your savings then it's a good thing, but to start up a business, savings will go a long way to bring in your capital but would it be enough to set you up, taking a loan has a negative side too but can get you working on your business because you know there's a debt somewhere that needs to be paid which will prompt you to grind hard.
 
Saving Money to buy something than to get it on Loan/Credit Card is much better because after you might have Saved and gotten that particular thing, you will use it's with rest of mind than bothering yourself on how to pay for the Loan/Credit Card
 
I would not advise anyone to go and get a loan from a bank or an agency that disburse loans, except you are about to take your business to the next level and your business already has an already customer base that patronize you on a daily basis before you should go and seek for a loan
 
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