The real reason for taking a loan

[Alexandoy]

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]

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]

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]

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.