Post
Topic
Board Economics
Re: Is taking a loan/debt addicted ?
by
erep
on 08/02/2023, 19:16:45 UTC
Taking out a loan to go into investments is not advisable. Individuals should only go into Investments with spare money and not money borrowed from the bank. If, due to some stroke of ill luck, you lose out completely on your investments, you would have lost all your money and even worse be in debt to the bank. The bank can be merciless when coming for their money.
It’s also wise to consider how deep your pockets are before investing so you wouldn’t have to rely on the bank for a loan or a bailout
Loan money from the bank must be deposited monthly to pay off loans with high interest rates, the first loss of the loan must pay interest rates of up to 15-30% of the total loan and every investment is not necessarily profitable for a certain period of time and if the market conditions are worst then you have to hold coins for the long term, another solution is better to save monthly from income/salary money every month to invest, the main priority is to invest using reserve money without any connection with other money so we will focus on investing for the long term.