Is Taking a Personal Loan Good or Bad for Your Finances?

 

In our life any bad thing happens suddenly and we can understand what to do when no one person in our relation helps.

 

Why i taken a loan?

In my experience when i was traveling in capital of india my money got stolen, my smartphone got stolen, my wallet where was my cards like aadhar, pan, credit and debit cards got stolen. And there were no job I'm doing, no monthly income im getting from any source to cover my expenses, that time was difficult to me for survive thats why i decided to take loan so that i can find a job or do any online work untill i get payment i can survive on loan amount.

 

How i got the loan?

I got a loan on a gold without any credit score required from my nearby village district bank.

I spend that amount fully and not given back any money to bank because im not doing any work to earn money, there were no income at all. That means the loan is bad for me.

 

Do you need loan?

If you have stable monthly income and you require large amount of money urgently for any work like to build house, to purchase any item or to do a business etc. Then the loan will work for you and you can return loan amount from your monthly salary. This way of having monthly income you wil fade a loan easily. That means loan is good for you.

 

So before taking a loan you need to think about how you will return loan amount. Or you are taking loan on any thing then you dont have worries about that thing because that thing w