Taking loans

bestwriter

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When big projects and or purchases are involved it is always good to take loans rather than spend one's capital. This way your capital remains intact and the loan is normally repaid in installments. There will be an element of interest but your capital also generates income.

What is your opinion?
 
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Bisolami

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I don't like the Idea of paying higher interests on loans when l have my own money that l can invest in business.
Paying higher interest will just limit the money that you are supposed to make inside your pocket. It is better to look for a loan with minimal interest that can be managed
 

You

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I haven't taken loans for big projects or purchases, and instead, I've opted to save and pay cash upfront. While I understand the logic of preserving capital and spreading payments over time, I prefer avoiding debt and the accompanying interest charges.
 

jetsaints30

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It really depends on the individual's financial goals and circumstances. For some, preserving capital may be the top priority, while for others, the potential risks and costs of taking out a loan may outweigh the benefits.
 

Springtime

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If I have enough capital, I will use them to start my business instead of taking out a loan. I do not like paying high interest and worry if I am not able to repay back the loan should the business fails.
 

Rubz

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I do not really agree with this opinion. I believe if one have the capital for a big project or investment, one should make use of it instead of taking a loan.
 

Hate2Wait

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If you are starting a business and for that you need to arrange a big capital and have that much money in bank even then you should not use it and should take loan
 
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