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Can I save money I borrowed?
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[QUOTE="Rachael, post: 233564, member: 68963"] Well, it is possible to save the money you borrowed but to be logical, it does not make any sense to me. The aim of borrowing money has never been to save it, so I am kind of perplexed where this ideology is coming from. If you get a loan just to save it, without investing either in fixed deposit or treasury bill account which can skyrocket the money, it means you do not even have a direction. The best thing to do with a borrowed money when you are short of ideas is to refund the money immediately. I have seen a case where my friend applied for a loan, but after all the hassle to get the loan approved, she was so pessimistic and engulfed with fear to the point that, she did not make use of the money rather she left it in her bank account and the money did not materialize. The point is, there is no need borrowing a loan just for the purpose of saving it because it would be unprofitable. Every loan comes with an interest rate attached, and as you are saving the money with no gain on your side, the interest rate that you must pay at the point of refund keeps accumulating. [/QUOTE]
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Can I save money I borrowed?
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