How often do you take out loans?

[Grant]

I don't take out loans all that often, if I do it's for rare occasions, usually emergencies. But how often have you taken out loans? I liken loans to last resort options, because they can be trouble to pay off and often can take years to pay off.

 

[Kane]

I take short-term loans frequently. Generally, my loan duration is between 3 and 6 months. I use the money to make an investment or upgrade my business, and then pay it back in time to avoid penalties. Sometimes I even take personal loans.

 

[Ja sa bong]

I've never taken any loan and I won't unless it's a life or death situation. Paying off loans comes with so much temptation and challenges which will keep interfering with your being able to pay off the loan when it's due. This keeps making the interest on the loan keep increasing adding to your debt.