When do you actually take a loan. I always believe that it is good to stay away from borrowing and incurring debts but situation might warrant the borrow, what situation do you think it's appropriate?
When is it advisable to take a loan?
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It's better to never take loan and try your best to manage things on your own ways. Spend less but be your own. The end point is when you want to start a business and don't have any other way to get money and you remain sure as you'll get success then you can ask for loan.
Personally i don't like taking a loan, its very hard to pay back any amount of loan, and once you get your hand in loan its hard to stay back from it, but if a person don't have any money for his or her health care then they nee to take a loan.
Do not borrow when you are desperate and have no other options because it will end very sadly. It is necessary to weigh all the problems and try to solve without loans and the like. Because in this state you will accept funds even on unfavorable terms
it is when you have exhausted all means. Even for business I still believe borrowing From friends and neighbours wouldn't be a bad idea
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Loaning is a scary thinh. It kills our income and destroys our reputations in case failed to pay in successive months.
It's best to avoid loaning. Save first and let the savings accumulate for an intended purpose.
It's best to avoid loaning. Save first and let the savings accumulate for an intended purpose.
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eLdavis
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Though I am not a fan of taking a loan, but I think when you are at a situation where you desperately need cash in flow. This would be the best time.
It's advisable to take a loan if the business.plans on expanding... The loan must be for developmental purposes and will.increase the sales and profits of the business...It shouldn't be used to acquire non earning assets.
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The right time for you to take out a loan is when your business has increased demand, or special moments such as Christmas and New Year, loans can increase capital to buy merchandise inventory.
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That surely happens when the worst comes to worst or else get starved. If you believe it is the answer to your financial problem, then proceed.
When you are desperate to find money to finance your business or your personal life, it's time to take out a loan. When you take out a loan, make sure you are able to pay it off. Otherwise, you'll go broke. I know there are many young people who take out loans to hold a lavish wedding party, or travel. I find it difficult to understand.
