Is borrowing money a completely bad thing to do?

[Kross]

For some people, they believe that borrowing money is a completely bad thing to do. They scorn people that have had to borrow money. Do you think that borrowing money is a very bad thing to do? Is there any justification for you that people borrow money?

 

[Starmix]

Borrowing money isn't bad. It's created to those who are in need for emergency purpose , for hospitalization or for capital addendum. As a debtor you must also be responsible to repay what you've borrowed with interest. It's important to note that once you fall to pay, you might be sued and your credit score will be damaged.

 

[Fire&Rain]

Borrowing money isn't always a bad thing. There are so many reasons why people need financial assistance and if non of those reasons includes fun and being irresponsible then a loan would be a good idea.

 

[Suba]

It depends on your purpose of borrowing money. If you are aiming for consumptive spending such as buying clothes, shoes, bags, or eating at a restaurant, borrowing money is certainly very bad. However, if you are aiming to have assets in the future, such as buying property, you can buy it through a mortgage, or borrowing money to increase business capital, this is very good.

 

[Trush Jodie]

Even if you are borrowing money to survive, it is not a completely bad thing as long as you are borrowing what you can pay back.

 

[eLdavis]

No borrowing money isn't a bad thing, i think it becomes an issue when you as as an individual begins to rely on just borrowing after borrowing .

 

[gwolf666]

Borrowing money isn’t inherently bad — it depends on how and why it’s done. Many people borrow to invest in education, start a business, or handle emergencies. Judging others for borrowing ignores individual circumstances. What matters is responsible borrowing, having a plan to repay, and learning from each experience. In today’s world, credit is a tool — not a sin — if used wisely and with discipline.

 

[King Belieal]

There is a reason why credit cards were introduced. Borrowing money is meant to help people overcome financial issues.

 

[Augusta]

I don't like to borrow. Borrowing money comes with huge financial responsibilities and potential risks.

 

[freelancermaria]

Borrowing money isn't always bad. It becomes problematic if used for gambling. However, in emergency situations, borrowing money can be acceptable. It really depends on the situation.

 

[Min George]

When there is an absolute need to borrow money, it is not bad to borrow within what you would be able to pay back.

 

[Kera]

Borrowing with purpose and strategy is not a bad thing to do. It is reckless borrowing that is bad and harmful.

 

[Springtime]

Borrowing money may not be a bad thing. That depends on why you need to borrow money. If you borrow for buying luxurious products, then it is certainly not advisable. But if you take out a mortgage loan to buy an apartment, or a business borrow money for expansion, it is not a bad thing.