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The real reason for taking a loan

Alexandoy

Well-known member
Taking a loan should need a big evaluation for the decision. If you think you need money so you will get a bank loan think twice before you do. If you can survive without the loan then most likely you are borrowing money only for the luxuries in life, so to speak. I have experienced that issue and I only realized when I was deep in debt. What were the loans for? Yeah, only for the luxuries and I would have no debts if I lived a simple life.
 

Mildredtabitha

Active member
Most people take loans to buy a car, house or pay school fees. I personally qualify to take a loan but I will only do so if it is urgent. I plan to save and get luxury things I might want in a few years from now.

Reading your experience helps others to make wise decisions by choosing to live a simple life.
 

Amely emelia

New member
I am not in the position to take a loan to buy a new car. If you are going to take a loan or mortgage you should buy a new house. With the passage of time the worth of your house will be increase. It will be beneficial for you.
 

Memories

New member
Thank you for the information. It's great that I registered on this forum. There are so many people here who are willing to help and answer my questions. This is very important to me.
 

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