Holicent
VIP Contributor
Financial misconceptions that hinder proper financing
1. I don't need a loan because I have a lot of savings.
2. I don't need a loan because I'm already doing so well financially that it's not necessary.
3. I just don't want to borrow money right now and figure out later if it's worth it or not.
4.I can pay back the loan easily in the future because my income will increase over time and my expenses will also decrease over time as well (which is true).
5.I can pay back the loan easily because there are no penalties associated with late payments or missed payments (which is true).
6. I should probably get a loan and acquire a car or house (even when the don't have any means of making money)
7. If I get this huge money, I would be the richest, nothing can stop me. Yea! It's good to be optimistic, but then, you should imagine the bad things too, because they always come and you don't need to be cut unawares.
1. I don't need a loan because I have a lot of savings.
2. I don't need a loan because I'm already doing so well financially that it's not necessary.
3. I just don't want to borrow money right now and figure out later if it's worth it or not.
4.I can pay back the loan easily in the future because my income will increase over time and my expenses will also decrease over time as well (which is true).
5.I can pay back the loan easily because there are no penalties associated with late payments or missed payments (which is true).
6. I should probably get a loan and acquire a car or house (even when the don't have any means of making money)
7. If I get this huge money, I would be the richest, nothing can stop me. Yea! It's good to be optimistic, but then, you should imagine the bad things too, because they always come and you don't need to be cut unawares.