We need to be aware of our spending. We need to control our spending because if our spending is more than what we earn it is not a good sign for our life and our future. We need to increase savings rather than spending.The government and banks have to step away from setting new rules and regulations on credit cards. This is because the most common type of personal loan so the government and banks can control this situation by themselves when one increases the rate of return on his credit repayments. I think we should refrain from borrowing. Borrowing someone's heart is upset, and if you want to ask for the money you owe, you will see that the heart becomes depressed.
Well paying attention to cash inflows and cash outflows in our finances is very important. At least everything has to be balanced. and the maximum we have to have more income than expenses. So that we can set aside money to save or invest. The situation that makes someone borrow is when the inflows and outflows are not balanced. i.e. our spending money is far more than our income. This is what makes someone compelled to make a loan. the solution to overcome this may be by trying to increase income. but it's not easy. but worth fighting for.