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Personal loan
Why You Should Not Buy Liabilities With Personal Loan
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[QUOTE="Shaf, post: 276471, member: 25467"] Using personal loans to buy liabilities is one of the poorest personal finance decisions. Sadly it's a lot more common than we care to acknowledge. I know of government workers who take loans from cooperative societies just to buy expensive cars, not because they need it but to impress others. That's the crux of the problem. Most people purchase liabilities with loans just so that they can impress others with their wealth and glamour. It's not even advisable to use your earnings on liabilities that add no value to your life. This money can be saved and invested properly to yield more returns. In the long run, you can use the profit from this source to finance whatever liabilities you want. One way to solve this is to wait, at least a week and up to a month. If you can still do things normally without stress, than that item is not so important. Another thing is to develop the habit of not taking loans for anything. For some people, it's a habit that becomes hard to break. [/QUOTE]
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Why You Should Not Buy Liabilities With Personal Loan
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