3 Things you should not borrow money to do

[Silifat]

Things you should not loan money for if you want to succeed in life.​

1. GAMBLING: I was shocked to my bones the first time I heard that people actually loan large sum of money to gamble online. Gambling is very bad even when using your money, now imagine borrowing money to do it, you are taking a very serious risk that may put you in a financial burden that you may not be able to get out from.

2. MARRIAGE: hmmmmm, funny? Maybe not. in times like these where people should be focused on multiplying their wealth, many people still go for loan in other to complete their marriage expenses. If you are thinking about something like this, you need to ask yourself if you really need to borrow money to marry, if you’ll be able to pay back after the marriage. It might seem easy to pay back at first, but can later leave you frustrated if things goes wrong in the marriage.

3. GOING ON A DATE: If you want to go out on a date, it shouldn’t be on credit, it should funded with your money.
Going on a date is not something that will bring much to the the table, you hardly gain from going out on date, so why be in debt trying to impress the opposite gender. If you really want to succeed in life and stay out of debt, do what you can and don’t try so hard to impress.

4. TRADING CRYPTOCURRENCY OR FOREX: the number one rule of investing in cryptocurrencies is that you should use your spare cash to do it. So why should you now borrow money to invest in cryptocurrency? Why break the rules, I know rules are made to be broken, but cryptocurrency is very very volatile and can throw you in a deep debt if things goes south. Cryptocurrency trading is 50/50, so avoid taking loans to do cryptocurrency trading.

while these are the most obvious things people borrow money to do, there are others that might not be listed here, so to always be on the safe side, always try as much as possible to see the need of taking the loan, questions you may need to ask yourself include:

• Do I really need this loan, is what I want to do really important?
• how will this loan benefit me?
• Will I be able to pay back?

make sure you answer these questions correctly, whatsoever is your answer make sure you act accordingly.