How do you stay away from borrowing. money

[Raja]

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?

If we can limit our purchases and slowly pay of all debt if we are under debt and this is how we can stay away from any debt.

 

[Heatman]

To the best of my knowledge, the best way to stay away from borrowing money is for you to never jump into a lot of unnecessary expenses.

 

[Shortie]

To the best of my knowledge, the best way to stay away from borrowing money is for you to never jump into a lot of unnecessary expenses.

Agreed, it is so much easier to stay away from borrowing if you do not give yourself a reason to borrow. If you get into spending too much and end up with too many expenses you will eventually lead yourself into a situation where you will need to borrow money. The best thing to do is always only spend as much as you have and not give yourself a reason to need to borrow if you do not want to have to borrow money.

 

[RicAngelo]

We work together as a couple to avoid debt and support each other. One huge advantage is we always keep $25,000 to $35,000 in interest bearing savings as an emergency fund, make sure our medical insurance is paid up at all times and get by with one car and one insurance, shop thrift stores for good used clothing and household goods and earn extra pocket money online.

That's great, i also have emergency funds and its really help a lot when emergency situation happens, i sti remember last novemver my mother in law passed away and we use this emergency funds to bought airlines ticket and everything. We are really glad that we have this kind of saving.

 

[freelancermaria]

I previously borrowed money from my sister. I had to do it to pay for my thesis. After repaying her in full, I resolved never to borrow money again. But I hope there will be no need to do so in the future. That is why I am saving to prevent this from happening.

 

[cherry123]

Yeah it will be great idea to limit our purchases and slowly pay of all debt if we are under any debt that needs to be paid .No need

 

[jetsaints30]

For me staying away from borrowing money means being mindful of my spending habits and only buying what I can actually afford I also try to have an emergency fund in case of any unexpected expenses.

 

[LoukiaCharilaou]

I do not like borrowing money, so I save some money for a rainy day and I do not spend money carelessly on things I do not need.

 

[flower]

Whatever it takes to stay away from borrowing money should be taken into consideration because when you keep borrowing,.you are definitely going to lose more if you do not have a stable source of income to make repayment.

 

[uptrendfinancialsignal]

To stay away from borrowing needs a lot of discipline and you will need self control as well.

 

[Shavkat]

It's better to make your expenditures within the earnings you have. If expenditures increase you need to borrow money. Therefore we should try not to spend much when we know we don't have enough earnings.

I must admit that it is not easy to do this. We need to use our own money and not to spend beyond our means. That is the problem for some people who tend to be living in an extravagant lifestyle, but cannot maintain it.

 

[Reedex]

Sometimes you would want to stay away from debt but due to basic needs and inadequate capital could make you borrow money again.

 

[cherry123]

People need to know this. Just borrow when you have an absolute idea on how you are going to return the money to avoid issues

 

[Bisolami]

People need to know this. Just borrow when you have an absolute idea on how you are going to return the money to avoid issues

That’s just the best thing. It will not make any sense to borrow money when you don’t have any idea on how to pay back the money. It isn’t nice

 

[cherry123]

That’s just the best thing. It will not make any sense to borrow money when you don’t have any idea on how to pay back the money. It isn’t nice

Yes this would save you future embassrasment don't go borrowing money that you would not be able to pay back.

 

[Shavkat]

People need to know this. Just borrow when you have an absolute idea on how you are going to return the money to avoid issues

I am with you. We need to be sure that we need the money for something. We cannot afford to squander money for nothing.

 

[cherry123]

I am with you. We need to be sure that we need the money for something. We cannot afford to squander money for nothing.

That's right one should not borrow money just to party. You wouldn't be able to pay back but you might if it is for business.

 

[Etini Willie]

It is a lifestyle thing. When you align your lifestyle to your income level, you would get to borrow money less.

 

[Hate2Wait]

It's a thing which we learn from our family and circle. So if we see our family members going for borrowing then there is a big chance that we'll be influenced too and may go for borrowing and we should have the attitude to not borrow and stay away from debt

 

[Starmix]

I borrowed money from a security guard in my work place when my bag was snatched containing money, mobile phone, jewelry and more. I paid the lady guard the next day.