How do you stay away from borrowing. money

[cherry123]

I think the best bet will be to have a job to be have money and avoid borrowing

 

[RicAngelo]

It's better to spend the money as per your earnings. We won't find any need for borrowing money then.

Yes and yes, know your earning and spend it wisely. We dont have to impress people we dont like with the money we dont have, right?

 

[Imran Noori]

Earning more , reducing spending and saving more

You are using the most effective techniques.

 

[Starmix]

Indeed, lets avoid the credit, like sanjeev said just buy essential things. Credit card is very useful for people who have the money to oay for it. Credit card is not extra cash, is debt LOL

I surrendered my credit card. I better do not use it for every two years, our debt doubles.

 

[RicAngelo]

I surrendered my credit card. I better do not use it for every two years, our debt doubles.

Good for you then, i did the same thing. Were not young anymore, we dont impress people we dont like with money we dont have. LOL

 

[SHAHID987]

Sometime it becomes very difficult to cope with the situation so on that time we try to borrow money but it is not an easy thing for a normal individual. I always try to work hard and earn by myself.

 

[RicAngelo]

Sometime it becomes very difficult to cope with the situation so on that time we try to borrow money but it is not an easy thing for a normal individual. I always try to work hard and earn by myself.

Yes, so true, always avoid it, work hard and earn more. If we want something, work harder to make it.

 

[Bisolami]

Use your money for what you need to for what you want.

Exactly my friend
Don't spend more than what you earn and don't do more than your worth

 

[Sanjeev]

Yes, so true, always avoid it, work hard and earn more. If we want something, work harder to make it.

Sometimes hard work also doesn't pay, in such a situation, a person is forced to borrow money, in this circumstance, one may borrow money but that should be at a limit and should be returned as per the commitment with the person from whom you borrowed the money.

 

[Stardom22]

Debt is not good. It can lead you to bankruptcy. For you to avoid debts you must learn to live within your means, develope a saving habit, avoid overspending and impulse buying.

 

[Niyi Briggs]

People should strive to live a life free of debt. This can only happen by living within your means.

 

[RicAngelo]

Sometimes hard work also doesn't pay, in such a situation, a person is forced to borrow money, in this circumstance, one may borrow money but that should be at a limit and should be returned as per the commitment with the person from whom you borrowed the money.

Yes, thats what we called Life, and this is the reason why i always saving for emergency fund, to avoid this happens again.
In my case i dont borrow money from others people, because i believe it will ruined the relationship between me and others. Again, we have to be prepare of everything, its 2023 and be ready for another hard year but i believe that we can survive too like we used to.

 

[Sanjeev]

Yes, thats what we called Life, and this is the reason why i always saving for emergency fund, to avoid this happens again.
In my case i dont borrow money from others people, because i believe it will ruined the relationship between me and others. Again, we have to be prepare of everything, its 2023 and be ready for another hard year but I believe that we can survive too like we used to.

This year also we may have to go through the lockdowns as we experienced in 2019 so this year will be hard but we will have to work hard to survive.

 

[RicAngelo]

This year also we may have to go through the lockdowns as we experienced in 2019 so this year will be hard but we will have to work hard to survive.

We survive 2022 so far, sure we will survive 2023, though

 

[Sanjeev]

We survive 2022 so far, sure we will survive 2023, though

Yes, we will survive but we need to save money for the emergency.

 

[relcap23]

it is not a good thing to borroe money. You might just find your self in multiple debt . I avoid borrowing by just managing what I have. How about you?

I put money in a cooperative because it will bear dividends which is far more than putting in the bank. In times that I need money I borrow from the cooperative using my share as collateral because the interest I paid will also be returned to me as patronage refund.

Post automatically merged: Jan 7, 2023

We survive 2022 so far, sure we will survive 2023, though

This year marks the start of the recovery year. It's more work for us in the finance department.

 

[Sanjeev]

I put money in a cooperative because it will bear dividends which is far more than putting it in the bank. In times that I need money, I borrow from the cooperative using my share as collateral because the interest I paid will also be returned to me as a patronage refund.

Whereas I have started investing in the share market. I think it's a better way to invest in the long term. That's true it's of no use to put your money in your saving account as the interest paid is very less. We should always find ways that may help us to get more returns on our investment.

 

[cherry123]

I put money in a cooperative because it will bear dividends which is far more than putting in the bank. In times that I need money I borrow from the cooperative using my share as collateral because the interest I paid will also be returned to me as patronage refund.

Post automatically merged: Jan 7, 2023

This year marks the start of the recovery year. It's more work for us in the finance department.

I like how this cooperative works I don't know if we have such here. is this about the cooperative Bank?

 

[relcap23]

I like how this cooperative works I don't know if we have such here. is this about the cooperative Bank?

A cooperative is not a bank. It's an organizations of voluntary members who put their capital and let it grow, though it operates like a quasi bank.

 

[Magnus2022]

The best way to stay out of debts is to reduce expenditure and create other source of income. Moreover, try to work more smartly than using your physical strength . It is more conservative and economical to make money with your brain than your physical strength.