When you're short on cash, it can be difficult to quit borrowing money.
Everyone has been there. We're short on cash and in a lot of debt, but a cover loan to get out of the red and even improve our readiness is the light at the end of the tunnel.
Blissful days? Sadly, no. It all comes down to the straightforward, yet frequently misunderstood, formula that says borrowing more money equals more debt. It is more difficult to return to black the more debt you accumulate.
The majority of us live beyond our means, which is one of the primary causes of our ever-increasing habit of borrowing money. Simply put, incomings are outpacing outgoings. It's also getting worse.
More than at any time in the past two decades, millions of Americans are spending more than they earn. Spending on credit cards, the most common type of personal debt, is estimated to be rising at a rate faster than at any other time in American history.
Even the government of most developed countries take loans from the world bank to sustain their economy talk more of normal individuals, just like you said many individuals in general have been there and taking loans have become a normal lifestyle for humans at large.
But it's advisable to have a source of income before you embark on requesting for loans from banks or a wealthy individual, only a foolish man would take a loan without having any job to clear his debt, I've witnessed a case where a man took loans from a rich merchant to clear his house bills, he might have solved a part of his problem but has attracted another problem to himself which might turn out embarrassing if he can't meet up paying up.
There's a saying that "one should cut their coats According to their sizes" which means that you shouldn't do beyond your capacity in orherwords know your worth, when you're spending beyond your earnings you might be forced to borrow money which would make you be in debt and suffer financially, however taking loans is not a bad idea when you use the funds on a good investment.