Post
Topic
Board Economics
Re: If you were in desperate need for money....
by
Harlot
on 28/09/2016, 01:45:45 UTC
I would consider selling things that I don't need, or that are not very important for me in my daily life. Then I would use part of the earned money to invest in something with potential to give me profit.
Yes its a wise idea than to borrow money to someone with interest. i would also sell the things that is not really important, but to prevent that scenario its better to start saving so you will have money to spend incase you badly need it.

I think if we can generate the habit of saving on regular basis then we will never face such tough situation when we need to spend some things or borrow it from people around us.
well yeah, i think saving is always a good decision to make right now, and you would never need money

That is what I am doing when I am really so desperate in need what I am going to do is go to the nearest bank and going to withdraw my savings.

And good thing that I've been saving since 2013 and it really helped me a lot when I need money for emergency even though my bank account is just containing of small amount.

But that small amount is helping me in times of need.
That is why people need an emergency fund which is equal to your 6 months worth of salary in which that let you make have time for emergency purposes such as being fired in your work, or an accident occurred. Also selling unnecessary stuff is not your only option what if your things that your are selling ran out? Preparing for the worst might be your only option.