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Why You Should Not Buy Liabilities With Personal Loan
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[QUOTE="Abigael, post: 263317, member: 25357"] This is very true. It is best to never use loans to buy liabilities. In my understanding, liabilities are those things that are not really of much importance. They don't help you earn something, they are just for luxury and enjoyment. Those things are better bought from your own earned money and not using a loan. This is because you have not really planned on how you are going to pay it back. Most of the time, you take a loan to buy a liability just because you could not control that urge. So you better learn to say no to your urges, learn to delay gratification and work hard to earn the luxuries you need. Personal loans are meant to help you with personal finances that you already have a plan on how to get it. So whenever you take the loan, you already know how to pay it back on time. [/QUOTE]
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Why You Should Not Buy Liabilities With Personal Loan
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