Don't borrow money if you can't afford to pay

[Starmix]

Borrowing money occurs when the individual is in an urgent need of financial help. Borrowing money in an agency or bank is a crucial thing if your means of repayment is vague, to mean your salary isn't enough to pay because of your unpaid accounts. Don't fry your brain with the impossible means of repaying the money.

Before you plan to borrow money, get your calculator and compute. Calculate your expenses like food, bills, medicine and kid's daily allowance if you're married. Also, calculate the net pay of your salary.

After calculating and finding out you're budget for the daily needs and more aren't enough to suffice for a month, then that's an indication that you can't afford for the repayment of the borrowed money. The best solution is to have side hustles and tell your family that you are planning to live minimally. Does it make sense to you?

 

[Trush Jodie]

Everyone should know their financial limits and not end up getting into debts that would drown them forever. If you have to borrow, don't borrow what you can't pay back.

 

[eLdavis]

One of the reasons I don't even try to borrow money at all in the first place, so I won't have to worry about trying to pay back.

 

[Starmix]

Indeed, it's a crucial thing without money for an urgent need, which is why, as much as possible, we have to work harder and never rely only on one source of income. The Internet offers us many chances to earn on the web.

 

[Suba]

Banks generally have experts to assess a potential borrower's financial capacity, allowing them to either reject or grant a loan. However, those without income can borrow from online lending platforms that require only an ID card and a phone number, allowing borrowers to easily obtain funds.

 

[Starmix]

Indeed, planning to loan in a bank is not a simple thing. The bank has an investigator to assess the capacity of the applicant if qualified for a bank loan.

 

[Augusta]

Too much debt, even if it is at a low interest rate, can become bad debt. Carrying debt without a good plan to pay it off can lead to an unsustainable lifestyle.

 

[Starmix]

Borrowing money can make a problematic person happy if granted, but his happiness is temporary once repayment starts and no money to pay.