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Showing posts from August, 2021

What to Know About Loans

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If someone wants to take a loan and asks for your advice, you probably are more than willing to help, but do you really know what a loan is, what you should know before plunging into the ocean of loans. Now we all know loans are available for the purchase of houses, consumer electronics, refurbishment, education, marriage, health and many other reasons that are not possible in your current budget. The Big Question This brings us to perhaps the biggest question that needs an answer. That question is- Is it worth taking a loan for vacations if it is paid back? The answer is NO. A loan is meant to make funds easy in the pocket but not for entertainment purposes. A loan should only be used for productive reasons and a vacation is not on the list. A loan should only be used for buying a commodity like house, car or to pay a big utility bill. Point to Consider One should consider taking a loan only if it is really required. After all, there is no sense in paying interest for a long period, u