Should We Avoid Loans or Embrace Them for Growth? A Balanced Perspe...

Well, we always thought that we should not take loans and we should avoid all these things because we have seen such a thing that many people take loans and get bankrupt and they are left with nothing, if they are not able to pay their money on time then the banks come and sell the property and recover their money and in the end, they are left with nothing. But this does not happen with everyone, if you are paying your loan instalments on time and if you are using the loan at some other place from where you are getting profit on it then maybe it can be very beneficial for you. But not everyone thinks like this because if everyone starts thinking like this then perhaps many things will not only exist in this world but many things will also change.

Well, we all keep borrowing small amounts in our life and many people repay them on time but some people do not bother to do so. I believe that if you borrow money and return it on time, then maybe someone will easily give you money next time. If you do not repay the money on time and if they have to ask for money from you again and again, then maybe it is not good for you because if you do this with the bank, then the bank charges you for this and if you take a loan from someone personally and you do not repay it on time, then your relationship gets spoiled and often we have seen that people are very sensitive when it comes to money and many people even kill each other in matters of property and money.

Many people use their money very smartly. They invest their money in various businesses from where they make a very good profit. Some people invest in loans and then repay their loans from the profit earned from them. Some people take loans so that they can get a big amount at once and they keep increasing their amount gradually. Sometimes many schemes run where you get a very good loan at very low prices. If you talk about big companies, then they keep taking a lot of loans from banks or the government at very low rates and their interest rate is also very low but their amount is very high, so probably they give them low interest rates. But this does not happen with everyone. If you take a home loan, then it is available at an interest of about 8% and if you are taking a personal loan, then it can be from 11% to 16%. Nowadays, there are many different applications available through which you can get a loan very easily and quickly and this is very convenient. If your CIBIL score is good, then you can get a loan easily and your interest rate also becomes a little lower.

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Look, we all need money at some point in time or the other and we have to take loans because by doing this we improve our circumstances a little bit. When our house construction work was going on a few years ago, I took a loan from a friend of mine and the good thing was that he agreed, his salary is much better than mine, he works in a multinational company, so I do not have any issue with the fact that he earns more than me, it will be good for me because he is more skilled than me or it is a basic thing, but he helped me in my bad times, it was a matter of great happiness for me and he also gave me enough time to repay the loan. He had given me a full year to repay the loan and I had also made complete planning for it. I used to deposit every month some amount from my salary for the loan amount and as soon as one year was completed, I immediately repaid the loan amount. It was a huge amount for me and it took me almost 1 year to repay it, but that time helped me a lot and I will always be very grateful to my friend for everything.

Well, I also help my friends from time to time in getting small loans and in this way, we support each other by helping each other. We get to know in a way that who will give us money or who will not return our money, so accordingly we decide in our mind whether to give loans to people or not. Many people in our office take loans from people but do not return them on time, so in such a situation everyone wants to avoid them, even if they call, everyone thinks that maybe he is calling for money only and what kind of mentality has happened to someone, but I feel that if you are taking a loan from someone then take it, it is not a bad thing, everyone needs it and we should also help people, but if you do not return the loan on time, then maybe it is not a good thing and it also makes a lot of difference in your relationships.

Mostly we have seen that big businessmen keep taking loans to expand their company or to add new things to it, but small shopkeepers or small traders take loans and think that why do we need to take loans, things should continue as they are, but this mindset needs to be changed. If you feel that you are getting a good opportunity and for that you have to take a loan, then you should take it. If you feel that you can earn a good return from there and you can sell your money as soon as possible, then you should definitely do this because sometimes we get very expensive things at very cheap prices, like sometimes we have seen that sometimes a property is available to us at a very cheap price because people are forced to sell things, if they buy it from you at a lower price and then sell it at a higher price after some time, then you get a lot of profit from this and there is a very good profit in properties.

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