Loans Is it advisable to get a loan for ceremony

[Good luck]

Loan is a liquid capital one collect to meet up some tasks or challenges one is facing in a trying time.

People get loan from financial organization for various reasons,basically for pressing issues or need.But I have realized that a lot of people don't really know the essence of getting fund from the bank or any financial institutions.

People get loan from the bank to pay tuition fees which is very much acceptable.getting money to buy books for learning is also a good idea.

Getting loan to buy Land property or car is not a bad idea,atleast it will yield a good return if one get loan to buy property.it is a good investment that will yield good results.

Now,I have seen people getting loan from Bank at an interest rate of 20% or more to do burial ceremony thinking of getting back the money from the invites.

Is it idea to get loan for such?? I shall look forward to hearing from you. Thanks

 

[Sherman198]

I think it's a bad idea to do something like that....A loan should be gotten for the expansion of a business, that will bring returns or profits for you, so you can be able to return or offload the loan that you borrowed. But if you use the loan for a ceremony, after the party, where are you going to get the money to pay back the loan.

 

[Alexandoy]

I know some people who borrow money for the fiesta - it is a celebration of a town or a province. The residents who do not have the funds for the celebration would take a loan to finance the food that they will prepare for the guests that they had invited. It is a wrong way of spending money but that is the culture here and tradition always wins in the heart of the public.

 

[Good luck]

I know some people who borrow money for the fiesta - it is a celebration of a town or a province. The residents who do not have the funds for the celebration would take a loan to finance the food that they will prepare for the guests that they had invited. It is a wrong way of spending money but that is the culture here and tradition always wins in the heart of the public.

But when tried to win the heart of people all the name of culture and traditions at the detriment of going into debt,l don't think that is a good idea because the people will merry and leave while the debt or loan acquired will be on the host who is celebrating one event or the other.Penny saved is penny earned they say

 

[Lens1000]

It's possible to get loans for wedding or any kind of celebration . When you want to get a loan via this means, you need to have a means to pay back because it's a loan that doesn't give you profit because it's not invested. You will make life unbearable if you collect loan for a celebration and do not have the capacity to pay back.

 

[Good luck]

It's possible to get loans for wedding or any kind of celebration . When you want to get a loan via this means, you need to have a means to pay back because it's a loan that doesn't give you profit because it's not invested. You will make life unbearable if you collect loan for a celebration and do not have the capacity to pay back.

That is the problem people involved or engaged themselves in.Getting money without having a good means of paying back or getting money that will not give you return at the end of the day.People always believe on gift after party which always have negative impact on such loan.