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Do you think it's ok to get a loan?

paupau · 49 · 6506

paupau

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on: Jul 23, 2014, 11:07 AM
Do you think its ok to get a loan? Kasi may nabasa ako article, here http://www.loansolutions.ph/moneywise/why-get-a-loan/ they explained pretty well why someone need to get a loan.But i  just need to gather some information from those bright minds kung ani sa tingin niyo about this loan thing?
« Last Edit: Aug 11, 2014, 12:39 PM by FutureGizmo »


Wills

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Reply #1 on: Jul 23, 2014, 11:25 AM
No it's not ok to get a loan.

That's the problem with our society now, too many "Robert Kiyosaki" out there conning the public how easy and nice to get in to debt.

They're selling you "convinience", if you're honest with yourself you know that you don't need it, truth is you want it because of greed, unrealistic dreams and so on.

« Last Edit: Jul 23, 2014, 11:28 AM by Wills »


bauer

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Reply #2 on: Jul 23, 2014, 11:45 AM
^Seconded.

Debt-free will reduce your stress in life.


pulubing_palaboy

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Reply #3 on: Jul 23, 2014, 12:05 PM
nakuh huwag ninyong patulan iyang si TS. tignan ninyo mga post niyan at ni alicia, pareho g puro pag promote ng loansolutions na iyan!


bajoyjoy

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Reply #4 on: Jul 24, 2014, 06:05 PM
Just weigh the pros and cons and where you are in life in terms of capacity to earn, capacity to save, and capacity to pay debt (taking into account the interest rate and other charges over time in addition to the principal amount). Of course it's also important that what you are getting in debt for is worth the extra charges you will bear today rather than having to wait to amass the money to pay in full in the future. Meron kasing opportunities that you cannot afford to pass up on, so in those instances kailangan talaga umutang. Pero kung para lang sa luxuries and wants, hwag na iutang because as they say, if you can't afford to pay in cash, then you can't afford it.


alicia

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Reply #5 on: Jul 25, 2014, 02:38 PM
No it's not ok to get a loan.

That's the problem with our society now, too many "Robert Kiyosaki" out there conning the public how easy and nice to get in to debt.

They're selling you "convinience", if you're honest with yourself you know that you don't need it, truth is you want it because of greed, unrealistic dreams and so on.

hindi lahat nang utang masama depende yon kung saan mu gagamitin kasin sa realidad hindi talaga natin ma iiwasan ang umutang kaya kung uutang man tayo yong kaya lang bayaran hindi na cguro masama yon.


wilch23

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Reply #6 on: Jul 29, 2014, 05:59 PM
Just weigh the pros and cons and where you are in life in terms of capacity to earn, capacity to save, and capacity to pay debt (taking into account the interest rate and other charges over time in addition to the principal amount). Of course it's also important that what you are getting in debt for is worth the extra charges you will bear today rather than having to wait to amass the money to pay in full in the future. Meron kasing opportunities that you cannot afford to pass up on, so in those instances kailangan talaga umutang. Pero kung para lang sa luxuries and wants, hwag na iutang because as they say, if you can't afford to pay in cash, then you can't afford it.

 :applause: :applause: :applause:
Very sensible answer here. It's not always bad to get a loan.
Thank you for thinking before posting.


wilch23

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Reply #7 on: Jul 29, 2014, 06:01 PM
May I add lang, It's not whether you can pay off the loan, but rather it should be : do you really NEED the loan?


joss

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Reply #8 on: Jul 30, 2014, 07:19 PM
 please don't leave me a loan..thats bad............hehehe


Wills

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Reply #9 on: Aug 06, 2014, 12:45 AM
May I add lang, It's not whether you can pay off the loan, but rather it should be : do you really NEED the loan?

The meaning of that will differ from personal loan vs business loans.

--------------------------------------------------------------------------------

On personal loans, the only valid loan you can avail is housing loans and the monthly amortization should be the same with your monthly rental rate.

(I said valid because I assumed we are in the context of "getting ahead in life")

Before you acquire debt you must first know the effect of negative compounding, you may have what you want in a fast and easy way through debt but what you didn't know is you are blindly paying for an opportunity cost.

Like it or not if engaged in debt you will have lesser in the future.

I don't like debt not just because of worry-free life and being safe but the more important reason is I like to have more in the future.
« Last Edit: Aug 06, 2014, 12:54 AM by Wills »


DonT

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Reply #10 on: Aug 06, 2014, 08:03 AM
^Agree with Wills...only use of loans for personal reasons are for big ticket items such as getting a House or a Car. Otherwise, you can mostly save up for almost anything personal..like computers, LCD TVs, Furniture and save the additional cost by paying in cash.

For business reasons, it is valid to take loans especially when time comes that more equity is required for expansion of your business.


mackygoof

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Reply #11 on: Aug 06, 2014, 09:12 AM
depends whether you need it or not.
you have to compute monthly amortization, emergency expenses, etc and see if you can pay back the loan otherwise it's not good.


Wills

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Reply #12 on: Aug 06, 2014, 11:53 AM

For business reasons, it is valid to take loans especially when time comes that more equity is required for expansion of your business.


^right, because in that situation your business is already running and has a capacity to pay its own debt.

However there is a serious risk using business loans if you are just starting out from scratch (the guarantee of success is very low), if that's the case don't go in to debt.


rds

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Reply #13 on: Aug 06, 2014, 12:40 PM
i did take a loan...PERSONAL loan.

i don't need it (almost all of it) personally.

i put everything (almost) everything in my stocks portfolio (very risky? yes).

now i need to beat the bank interest + inflation to become better off with that loan.


DonT

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Reply #14 on: Aug 06, 2014, 01:53 PM
^How much is the bank interest if I may ask?


 


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