Debt How to Avoid Debts And Reasons Why You Have Debt

[AmaliaTG]

Nothing positive is going to come your way if you decide to fall into debt. But probably you are wondering, how did I get myself here ? How did I come to be someone who is borrow loans and having debts all the time ? What is the reason behind it ? . Well today I will share with you the key reasons why people fall into debts.

You can fall into debt for probably losing your job and having no other choice but to ask for loans. Starting a business can also cause someone to go for loans which you have no guarantee about how your business will turn out to be . Another reason that can cause someone to have debts , is the lose of hope and faith in life which makes you go into depression and anxiety.
Debt is something that can easily take over yourlife. It is best to pay close attention to your financial plans and how you are spending your money to avoid situation like this because that is the only way you will stop dept from controlling your life. Furthermore debt is like a disease that doesn't end. Once you start involving yourself in loans and debts you will live to do that forever. You would rather do 9 to 5 jobs than allowing yourself to fall into debts. Debt is dangerous and can make your life miserable when you fail to repay. Know how to manage your finances. Take precautions, take financial Advice from someone and you will avoid debt which will later hinder you to achieve your financial freedom.

 

[Augusta]

The best antidote to living debt free is to plan to avoid failure. Make money daily and live within your reach. Good that there are a lot of money reaching things we can make with the little money we have. So the best bet will be grabbing only what you can afford and avoid debt

 

[Josemendez]

The fact is that in one or the other , we will surely have a debt to pay . What matters then is out ability to settle our debts within a stipulated time frame and also the ability to avoid incurring unnecessary debts.
We need to be able to have a good source of earning which will help us to be able to take care of debts

 

[Chibson]

I always try as much as possible to avoid anything that will plunge me into debt. That is the reason I advise people planning to go into business never to take a loan to start a business because if the business does not succeed, you will definitely go into bad debt. And of course, nobody wants that.

 

[Josemendez]

I always try as much as possible to avoid anything that will plunge me into debt. That is the reason I advise people planning to go into business never to take a loan to start a business because if the business does not succeed, you will definitely go into bad debt. And of course, nobody wants that.

On as much as there is truth in what you are saying , there is also people who have become successful in their business despite starting the business with loan . It boils down on having a good business , being able to control interest payment and funding the business . Nevertheless this doesn't mean that using loan to fund business is good

 

[sincerem]

The little amount I make online and offline is simply enough for me st the meantime, I'm not greedy nor chasing lots of money st the current basics when I haven't worth it, I must worth it before getting it. Those who aren't working hard to save money are the ones who succumb to loan taking more. And they don't even invest wisely with their loan, they suffer more and more loan repayment penalties.

 

[AmaliaTG]

The little amount I make online and offline is simply enough for me st the meantime, I'm not greedy nor chasing lots of money st the current basics when I haven't worth it, I must worth it before getting it. Those who aren't working hard to save money are the ones who succumb to loan taking more. And they don't even invest wisely with their loan, they suffer more and more loan repayment penalties.

No loans don't come because of someone not working hard. Loans comes because of forced sucumstances. For example a single mum or even a single dad who doesn't have any other person to support him or her in parenting and yet they have to feed those kids. They will still work hard in the 3D but still will want loan to push them in maintaining the kids for school and other expenses. So don't even judge someone for taking a Loan because you don't know their issues. However your situation, can be suitable for the single people who have no responsibilities to take care of.

 

[sincerem]

No loans don't come because of someone not working hard. Loans comes because of forced sucumstances. For example a single mum or even a single dad who doesn't have any other person to support him or her in parenting and yet they have to feed those kids. They will still work hard in the 3D but still will want loan to push them in maintaining the kids for school and other expenses. So don't even judge someone for taking a Loan because you don't know their issues. However your situation, can be suitable for the single people who have no responsibilities to take care of.

Anyone is free from taking loans I'm not holding back anyone from taking loan. As long as they have reasons for taking the loan then their is no problem of taking it at all. At this time I'm not interested cos of how loan institutions go about insulting people here in my country when you're borrowing from online. That have also dampened my little zeal taking loan to expand my business.

 

[AmaliaTG]

Anyone is free from taking loans I'm not holding back anyone from taking loan. As long as they have reasons for taking the loan then their is no problem of taking it at all. At this time I'm not interested cos of how loan institutions go about insulting people here in my country when you're borrowing from online. That have also dampened my little zeal taking loan to expand my business.

Yes you are right. Those online borrowing online are sometimes a scam and its always advisable for someone to go physically to the bank itself and ask for a loan. Online loans are not that good or trustworthy and people are taking advantage to scam people using this method of online loans. However, there are also app loan which will offer you loans and give you deadline on when you are supposed to repay it back.

 

[btaliat]

Discipline is the first step to avoid debt. In a normal circumstance, there is no justifiable reason for obtaining loan other than expansion of business not even for settling up a business. Losing of job is not a yardstick fot obtaining loan neither anxiety and depression be the prerequisite for seeking loans. Just as the poster opined, debt is an unending disease that won't end once someone gets oneself in it.

 

[sincerem]

Yes you are right. Those online borrowing online are sometimes a scam and its always advisable for someone to go physically to the bank itself and ask for a online. Online loans are not that good or trustworthy and people are taking advantage to scam people using this method of online loans. However, there are also app loan which will offer you loans and give you deadline on when you are supposed to repay it back.

The app own is even the worst, they are the main institutions I'm talking about when it comes to online loan borrowing. They'll offer you little amount of loan with high repayment interest rate which is more than 30% at times. Where as when you go to the bank you won't be charged such kind of bizarre loan charges which the app charges. That's why I've written myself off when it comes loan taking.

 

[AmaliaTG]

The app own is even the worst, they are the main institutions I'm talking about when it comes to online loan borrowing. They'll offer you little amount of loan with high repayment interest rate which is more than 30% at times. Where as when you go to the bank you won't be charged such kind of bizarre loan charges which the app charges. That's why I've written myself off when it comes loan taking.

I am also not a loan person myself and I will never do loans, even borrowing some few bucks from a friend or family is a No for me. Loans drag people down. And I never knew about those online loan apps, I just see their advertisement and hear people talking about them but I have never tried it so I don't know their interest rates and such. But if it's that bad then nobody should even try to use loan apps whatsoever.

 

[sincerem]

I am also not a loan person myself and I will never do loans, even borrowing some few bucks from a friend or family is a No for me. Loans drag people down. And I never knew about those online loan apps, I just see their advertisement and hear people talking about them but I have never tried it so I don't know their interest rates and such. But if it's that bad then nobody should even try to use loan apps whatsoever.

Its good you're staying away from loan entirely in your life cos it doesn't worth it, if you're not using it for any tangible thing. Even those who are using it for tangible things even fail to meet up with the demands of the loan when the repayment is due. Those loan apps takes bizarre interest rate that is even closer to the amount you're taking, I see them being worst than the mortgages.

 

[Good-Guy]

The biggest reason for why people have debt is quite obvious. Many people make the mistake of taking loans and this makes them go default on many occasions. I have heard many times people going bankrupt after taking loans and the best way to avoid this is to start small instead of taking the risk of getting loans.