[JASPREET]

Many people don't mind borrowing money to buy a new product and I consider it harmful to our financial growth. Because most of the time we are investing in liabilities like an Air conditioner or a LED television which won't earn for us and if it's purchased on debt then we may be required to pay extra interest on it and so it's an added burden over us. We should make it mandatory not to buy anything from borrowed money and it will eventually help us not buy things like that.

[Fergal]

I agree that borrowing for things we don't really need and that don't generate some sort of income for us is a dangerous road to go down. Borrowing rarely helps our financial position and it can easily spiral to a situation where we don't have enough money to pay all our debts.Interest rates have been rising, which makes borrowing even more expensive.

[augusta]

I try to avoid borrowing to buy things especially liabilities it can be money sapping and it can't help one to save

[Xynehappy]

I can borrow money to buy something that can bring me money every time like a motor bike for public transportation

[Treborika]

Sometimes borrowing for buying business assets is a little bit cheaper than taking the asset on loan.

[augusta]

Another reason to stop this is to stop making it a habit when it becomes a hahit stopping it becomes very difficult and with this you can never save money

[eldavis]

Personally i do not like borrowing to do or buy anything. Cause even if i borrow to buy something i would not even have the peace of mind to use it, so it is better i do not borrow. Instead of borrowing, it would be best you manage what you have till you have enough to replace. It.

[Nsikan]

Anything that you cannot afford per time is not yet for you. No need to borrow to get it.

[astutimeliana723]

That's right I agree with you. I've always stayed away from the habit of getting into debt unless it's really urgent. Like for medical needs or buying food because I have no money at all.

[Cuddy]

One of the most important advice to give in order to key into money saving tips is not to try as much as possible to borrow.

[Presh]

I can't borrow money just to buy the latest gadgets or products. I only borrow money in situations of emergency when my emergency savings is depleted and I need more money to get help.

[Abdulhamid001]

One of the most important advice to give in order to key into money saving tips is not to try as much as possible to borrow.

yeah, borrowing may affect a person's financial stability and growth , you should explore other means first and borrow only in crucial times and you should borrow what you are capable of repaying

[Ravic]

Borrowing would always draw you back financially because you would not be able to realize your financial plans when paying debts.

[SHAHID987]

Never ever borrow money to buy some common thing to which you can avoid, because when the person get informed about it he will never give you anything.

[Uty Theo]

When you borrow money just to buy something just for the sake of possessing it, you are financially unintelligent.

[augusta]

This is the reality when you borrow to buy liabilities you are opening yourself up to debt which will deplete our income as you might be forced to pay high interest

-- 14 Sep 2023, 05:00 --

When you borrow you are getting higher interest for it. So you are likely to return more money to the lender which you would have saved if you didn't borrow the money

[aovurevu]

This is the reality when you borrow to buy liabilities you are opening yourself up to debt which will deplete our income as you might be forced to pay high interest

-- 14 Sep 2023, 05:00 --

When you borrow you are getting higher interest for it. So you are likely to return more money to the lender which you would have saved if you didn't borrow the money

This might be as a result of poor planning because if such person has done that on time , he would have gotten what he wanted before the deadline and would not lead to borrowing.

[Angie10]

I used to use a credit card to buy bulky items but soon realised it was counterproductive. I got rid of my credit card and now prefer to go without the things I can't afford, or if I desperately want something, I save for it.

[Xynehappy]

For me I find it more conveniently when buying the stocks for the business of mine with the borrowed money. The interest earned on the business can easily repay back the loan.

[Semi]

When you avoid borrowing to buy something, it would push you to try and save money to get that thing if it's really a huge concern to you.