Taking loan indiscriminately can lead someone to doom. If at all one is poised to take a loan, it should be for a viable investment. Once a loan is taking for luxury, problem is knocking on the door. It becomes worse when one can't pay back or begin to take loan to pay another loan. A web of indebtedness.
Avoiding debt is very important for one's financial growth.
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Most people see loan as a solution to their financial issues without paying attention to its impact and slowly it becomes difficult for them to do without loans.
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