Put good measures in place before taking a loan

in Project HOPE7 days ago

I was reading through @dwixer post and along the line I got inspired. This is the more reason I am happy when it comes to blogging in the Project hope community. What it offers is amazing. The project hope community is purely for engagement. This enables to see us blogging and reading post which meet up with project hope guidelines. The engagement here is very captivating and we will be happy as more and more of post relating to project hope guideline is met.

IMG_20210407_002550.jpg

Credit

With the way the community is going, you can see that the future looks brighter for them. While engaging, this platform makes sure that the motive of this platform is been adhered to. This motive is not supporting plagiarised post. This is why you see people who are making use of the platform deviating from plagiarism fully. If you are caught in that act just knows that you are in bigger trouble.

While reading through the post I learnt a lot through the post. While growing up my parents will threaten me that if I borrow money, it will take my life backward. So I kept their words so precious, so when I heard about loan I am always afraid of it. I am always afraid to give it a try. Now according to @dwixer post, he/she says that collecting loan is not bad at all. The reason why you are collecting it have to be met. And even though it is met, you have to make sure that you don't fail the person that borrowed you the money.

I use to tell people this, if you borrow money, there is this thing we fail to look at. Take for instant, do you knows that if you borrow #5000, you will have to pay back with interest? This is where we got it wrong. If you borrow you will end up almost paying *2 of what you borrowed. Now take a look at this, do you knows that if you borrow money and you are working, with yoh been sure that in between six (6) months you will surely offset the debt. Now, the truth is that you will think you can meet up, yes, for sure you can meet up but just knows that as time goes on you will see that it is not that easy to meet up.

Then reason it will be hard for you to repay is that when you are in debt, hope you knows that you will still foot your life needed bills. This is what you never included while borrowing. Now take for instant, if you borrowed $5000, you will struggle to repay because you will need to settles your life needed goals first. If you have children the side effect will be worse without proper planning. This might sees you not meeting up with the deadline you attached.

images (85).jpeg

Credit

Another things I hate about debt is that you will lost your rest of mind. Immediately you borrowed, you will sees that you will be struggling to have rest. All you will be thinking about is how to offset the bills. Not until all this is cleared you won't be able to meet up. Remembered when you are thinking of how to repay your debt, you might developed issues with your health along the line. This is whatmight lead you to a bigger problem. I have heard a story of how somebody who borrowed money developed heart problem and died after offsetting the bills, isn't this bad?

I understand that when life issues arises we will see people trying to get theirs settled that is why they will run into collecting loan to aid their life. Not to get into bigger problems, make sure you calculate the money you spend in your life ever month before applying for loan. If you do this you will see that setttling the bills will be easier for you.

Conclusion

Borrowing is not the problem but make sure that you have it in your mind that settling it will surely be difficult if you won't do the rightful calculation properly. Always calculate your monthly bills and goes for what you can settle without endangering your health along the line.

       I will end the post  
        here, I hope you  
        enjoyed the  
         message it is       
         passing. God day  
        and enjoy your day.

images (86).jpeg

Credit

  • If you love my post, feel free to comment and also support me, it will help to get me motivated. Remain bless as you read the post. Thanks

Please don't forget to support the Project hope community

3jpR3paJ37V8XPrHkfZdMtiM68fywBJwYt7Euhvj8hsnvpQc4K2uSoBWifXujzE9SqMGNZbLMLwC5WAoUrBYqHfnN6QLfJMLu8BBxi8y6oE6v54Xr1uAYfJMJeJd63QP73gRM.png

Special Thanks to the @crypto.piotr (Founder) and the entire team for keeping the engagement high.

LUCYMssPjPkNSqA4R8GVisGuWmEiTbcWLWDufxa8iJ53FTBGdy17QVyi3XUgS6ZD9EpEdwEJ5VTZp5t1PQUa8vcK8C96JT2PzHA7BHiW2kCQH933Fp5amQtjEnii2D...K1wKaAcQy2Mfk8L2ukFvNK4xXGMYcT6SAEuDKVUdHbUSbQxffbBN9gT1ahGPogP1dDipXCksyvo8imrnyAmtQqsHteGD6m8kuU - 2021-04-06T162903.174.png

Sort:  

I have the same impression as your father about the loan, I don't like it because it's like spending the money before I have it, but the capitalism system lives on it. Companies work with a high portfolio of products on credit that in the end is a loan in disguise. The banks have this tool as the one that produces the most and so on we see that the loan is part of the economy of 9 out of 10 people. As you say at the end, personally I prefer my psychological health and not to owe money to anyone. @tipu curate 3

Thanks for the nice comment. Borrowing is not a good thing to do when it comes to live in general.

A good point raised, and I advice not to loan money if the lender can't outsmart the debt. Most times the negative aspect has been discussed than the positive side of it.

Life sometimes is what makes debt looks bad because of it ups and down, you don't know what awaits you after getting the loan. Thanks for the mention, I'm glad my post inspired you somehow

Yes, that is why you have to put good measures in place before taking a loan.

I dislike borrowing no matter the amount because my mind will always be there and it won't be at rest. Unless it's a situation I can't control , I'll borrow and pay back as soon as possible. Nice piece