For some people, loans or debt are a scourge or something that must be avoided from their lives. The words loan or debt will always have an unpleasant connotation, many people even think that if someone takes out a loan or is in debt they will be considered to have no financial ability. Indeed, we also have to admit that having debt makes our lives uncomfortable, because debt must be repaid.
Loans or debt will always create an obligation to be repaid, but debt can also make us have something valuable that is difficult to own, such as having a dream house worth US$ 65k. If we save for 10 years, the price of our dream house will certainly have increased many times, but If we buy on credit or with a mortgage, we will quickly be able to own and live in our dream home, even though we have to pay the installments for 10 years. Likewise, when we buy a car, motorbike in installments or on credit, as long as the debt that has to be paid is not burdensome or not more than 30% of income then it's okay.
This benefit will be enjoyed by those of us who find it difficult to save, when we take out a mortgage loan, we inevitably have to always pay the installments on time to avoid fines and interest, apart from that it will form our discipline in paying the installments.
So when taking out a loan we also have to consider what the benefits of the item are, and you also have to avoid buying consumer goods, such as food, clothes, shoes etc. even if you use PayLater on the marketplace. Apart from that, you also have to consider the stability of your monthly cash flow before taking out any loans.
Loans or debt will always create an obligation to be repaid, but debt can also make us have something valuable that is difficult to own, such as having a dream house worth US$ 65k. If we save for 10 years, the price of our dream house will certainly have increased many times, but If we buy on credit or with a mortgage, we will quickly be able to own and live in our dream home, even though we have to pay the installments for 10 years. Likewise, when we buy a car, motorbike in installments or on credit, as long as the debt that has to be paid is not burdensome or not more than 30% of income then it's okay.
This benefit will be enjoyed by those of us who find it difficult to save, when we take out a mortgage loan, we inevitably have to always pay the installments on time to avoid fines and interest, apart from that it will form our discipline in paying the installments.
So when taking out a loan we also have to consider what the benefits of the item are, and you also have to avoid buying consumer goods, such as food, clothes, shoes etc. even if you use PayLater on the marketplace. Apart from that, you also have to consider the stability of your monthly cash flow before taking out any loans.
