Have you ever been successful through the taking of loans?

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Passiveearner

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The problem with using credit card is the fact that you end up paying interest and this may increase debt. When you save enough money, you may not need to borrow money or take loans.
Getting a credit card is equal to taking a loan so yes I was successful and we need to keep our credit score in good health to get loan
 

Passiveearner

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I have never been successful when it comes to borrowing money and starting a business. Having said that, I borrow money so that I could deal with expenses such as miscellaneous expenses.
 

Hate2Wait

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The problem with using credit card is the fact that you end up paying interest and this may increase debt. When you save enough money, you may not need to borrow money or take loans.
Why will you pay interest if you can pay all your bills on time and you don't have to pay in installments and should pay all your bills in one go
 

Nite

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Some people may struggle financially and turn to loans as a last resort, others may use loans strategically to invest in their education, start a business, or make other important investments.
 

Nite

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Taking out a loan can be stressful and challenging experience, so we should all be committed to making smart financial decisions now to avoid that situation in the future.
 

Passiveearner

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It is all about having stress while having loans. There are many people who never manage to deal with loans and they also have to deal with anxiety as well. This is why it is never a good idea to borrow money when you can't afford to do so.

I have realized that it's very risky taking on the loans to finance your business as most loans come with higher interest rates.
 
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