Should you take out a loan or stick to personal finance?

[Ernestnari]

For me, personal finance is a better option because managing your personal finances is more profitable and less risky than borrowing money

 

[Salt]

We need to see if for what purpose we need loan and in case we are unable to manage from our own sources then its better to take loan

 

[Ernestnari]

We need to see if for what purpose we need loan and in case we are unable to manage from our own sources then its better to take loan

Yes. Having a purpose matters and knowing ways to pay back is another thing .

 

[Salt]

And if we have a business or an investment in mind that we are sure to get us profits then we should go for it

 

[Ernestnari]

And if we have a business or an investment in mind that we are sure to get us profits then we should go for it

Yeah, one should take a loan if it's a good one. Otherwise, they'll be the one to blame at the end

 

[Salt]

I always believe that if we are taking loan for our business then we should be aware of its success otherwise no need to take loan

 

[Ernestnari]

I always believe that if we are taking loan for our business then we should be aware of its success otherwise no need to take loan

That's were business goal(s) comes into place. If at all one is opting in for a loan, they should have a good goal set in place in order to acquire more than the amount they've borrowed.

 

[Salt]

That's were business goal(s) comes into place. If at all one is opting in for a loan, they should have a good goal set in place in order to acquire more than the amount they've borrowed.

This is how they should plan and if not then they may face more issues as it would be hard to repay the loan

 

[Good-Person]

We need to see if for what purpose we need loan and in case we are unable to manage from our own sources then its better to take loan

I shall never take loan as taking excessive loans is bad and the sad thing is that when you take loans, you have to pay interest.

 

[Salt]

We should see what we require and the nature or reason why we need money and if we really need money and there is no other way then we should take loan

 

[Good-Person]

We should see what we require and the nature or reason why we need money and if we really need money and there is no other way then we should take loan

There comes a time when we have to take loans and we may have no other option at all. i would prefer taking interest-free loans.

 

[Kane]

You can actually improve your personal finance with a loan. Imagine, you get a car loan, you use your car for driving for uber, you make additional money, and you can not only pay back your loan but also earn well.

 

[Salt]

There comes a time when we have to take loans and we may have no other option at all. i would prefer taking interest-free loans.

Wow, and can you tell me from where we can take interest free loan because I don't see any such way possible

 

[Bisolami]

For me, personal finance is a better option because managing your personal finances is more profitable and less risky than borrowing money

It depends on the individual. I have always loved to fund my business through my personal finance.

 

[Salt]

Its a personal decision and if we use all our savings in our business then that would be a bigger risk so better to utilize banks and go for a loan