ls it true that one cannot prosper financially without taking loans?

[Stardom22]

l think this goes to the people in the poorer countries like the tier 3 or something. Most people that lie in the low to middle income earners to be pricesly. These people mostly live mainly through the hand to mouth basis. So they always believe that no one can achieve in any prosperity in business and financially as a wholly without taking loans. What is your take on that?

 

[Starmix]

I started my business using my own money. I spent all in all $6000. How could you prosper if you have pending debt from a bank or agency. The bank will also disqualify a loan applicant if there's no collateral.

 

[Trush Jodie]

I know of many people that have built lasting wealth by simple compounding. And they didn't have to take any loan to achieve that wealth.

 

[Augusta]

It is even the other way round. It is even the taking 0f loans especially big or large ones that can take away your success

 

[King Belieal]

People that keep on taking loans would remain broke and poor. They can never achieve any kinds of proper financial prosperity.

 

[Springtime]

Some people just save and make investments. They can accumulate a certain amount of wealth this way without taking loans. Some are more aggressive. They take out loans and make investments, subscribe in IPOs. They can make money fast. But there is a risk that if they made a loss in their investment, they have to struggle financially to repay the loan.

 

[Tray59]

No that thesis is very wrong I think I will never accept this,I have seen alot of people who do and operate business without loan they use their own money and get success from it.
So loan is not the only way to get success

 

[freelancermaria]

Taking out a loan to prosper in life is not ideal. It is better to save, especially if you want to start a business. There is a risk in taking out a loan.

 

[Augusta]

Taking out a loan to prosper in life is not ideal. It is better to save, especially if you want to start a business. There is a risk in taking out a loan.

Sure it is even taking too much loan that can cause losses and making people lose financial focus

 

[eLdavis]

I personally don't think this is true, i have seen cases of people who have been able to succeed but did not take any loan.

 

[Augusta]

This is not true. Being successful depends on how you run your business it's has nothing to do with getting loans or not