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Re: Avoid Borrowing for Buying

Postby FXOcrypto » 18 Sep 2023, 22:59

If we can cover daily needs hence don't need to borrow money, in addition trading in forex market that including high risk business, not recommended to trade with borrow money because will faed double stress when facing margin call. Trading forex with FXOpen, I only spent money that affords to lose, but grateful still making profit from forex trading business.
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Re: Avoid Borrowing for Buying

Postby nuella » 19 Sep 2023, 04:24

Any thing I desire to buy, my mind doesn't go into borrowing to buy it. That desire just pushes me to work hard and afford it.
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Re: Avoid Borrowing for Buying

Postby augusta » 25 Sep 2023, 12:04

Borrowing to buy will drain you financially. Because as money comes in, instead to save you would be paying out.
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Re: Avoid Borrowing for Buying

Postby Shavkat » 25 Sep 2023, 15:17

This is not a good habit. I cannot understand why some people are living beyond their means. It will surely affect their budget plan if they keep on doing this.
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Re: Avoid Borrowing for Buying

Postby JASPREET » 29 Sep 2023, 07:05

I still know people that don't mind borrowing to buy things that are not even important but these just make them happy for a short period
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Re: Avoid Borrowing for Buying

Postby eldavis » 29 Sep 2023, 07:51

The funny thing is that if i even borrow just to buy what i want, k would not be comfortable using it, until i have been able to pay the person off.
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Re: Avoid Borrowing for Buying

Postby Kalayla » 16 Nov 2023, 06:06

eldavis wrote:The funny thing is that if i even borrow just to buy what i want, k would not be comfortable using it, until i have been able to pay the person off.
I try as much as possible to avoid debts entirely. That's why I always plan and envisage my needs ahead of time.
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Re: Avoid Borrowing for Buying

Postby augusta » 16 Nov 2023, 08:29

This is same like being in debt. You would continue to use your savings to pay debt
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Re: Avoid Borrowing for Buying

Postby Treborika » 16 Nov 2023, 09:51

This is a very great money saving tip. For instance l was thinking taking a motorbike for my business on loan. However after making my calculations, l realized that I would have repaid more than the cash price for the bike. So l decided to take a bank loan and buy the asset in cash which saved me alot of money.
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Re: Avoid Borrowing for Buying

Postby JASPREET » 16 Nov 2023, 10:28

I know many that don't mind borrowing to buy things just to impress others
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Re: Avoid Borrowing for Buying

Postby Nsikan » 17 Nov 2023, 00:07

It is better to delay gratification that might come from borrowing to huy. Save up and buy whatever we want to buy. There is more satisfaction and less financial burden saving up to buy.
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Re: Avoid Borrowing for Buying

Postby Vehlijanta » 17 Nov 2023, 14:30

It's a bad bad habit to borrow money from other person and even worst to use that to buy something
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Re: Avoid Borrowing for Buying

Postby Uty Theo » 19 Nov 2023, 05:34

Anything you borrow money to buy is not your property. Yge person you are indebted to can decide to seize it anytime.
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Re: Avoid Borrowing for Buying

Postby Vehlijanta » 19 Nov 2023, 08:32

They are not doing themselves any favor so they need to stop borrowing money to buy
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Re: Avoid Borrowing for Buying

Postby augusta » 19 Nov 2023, 09:46

Vehlijanta wrote:They are not doing themselves any favor so they need to stop borrowing money to buy


Yes it is a disservice to them. You need to live above debt to save so you need to stop borrowing
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Re: Avoid Borrowing for Buying

Postby sweerie_banana » 19 Nov 2023, 09:52

Avoiding unnecessary borrowing is a wise financial strategy that can help you maintain financial stability and reduce the risk of debt-related stress. or embarrassment caused by the person you borrowed from.
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Re: Avoid Borrowing for Buying

Postby Kalayla » 19 Nov 2023, 12:33

sweerie_banana wrote:Avoiding unnecessary borrowing is a wise financial strategy that can help you maintain financial stability and reduce the risk of debt-related stress. or embarrassment caused by the person you borrowed from.
It is the debt related embarrassment that I fear most. I hate it as it quickly destroys reputation more than any other thing.
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Re: Avoid Borrowing for Buying

Postby Angie10 » 19 Nov 2023, 12:53

If you don't need it and don't have the money to buy it, no matter how desperately you want it, walk away! Or make more of an effort to save for it. That's the mantra I now live by.
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Re: Avoid Borrowing for Buying

Postby Kalayla » 19 Nov 2023, 13:28

Angie10 wrote:If you don't need it and don't have the money to buy it, no matter how desperately you want it, walk away! Or make more of an effort to save for it. That's the mantra I now live by.
I would rather save for something than stretch to buy it when I can't afford it.
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Re: Avoid Borrowing for Buying

Postby eldavis » 19 Nov 2023, 18:16

Borrowing is one thing i would never really encourage anyone to do, especially when it comes to borrowing just to buy something you would consume.
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