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Written by Ridzuan Ashim
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Friday, 23 March 2007 |
*sponsored post*
Loans . Are they a good thing? In some ways it is. It allows you to get capital for something that you need right now. Hopefully, you take the loan because you’re expecting cashflow in that would service the loan. At least in business, there’s a ratio that people look at because money sitting around or not taking a loan could equate to opportunities passing by. ( For eg, if you can take 10k loan that could bring a 20k return, why not right? )
But when it comes to issues of personal secured loans or unsecured loans. I think there’s a problem. People seem to forget that they have to service the loans from their next paycheck. And then the problem starts to perpetuate because they take other loans to service that loan. Well, in any case, I know this because it’s a problem my family recently faced and we’re working towards getting through. I guess we’re really lucky because we sat up and decided to face the problem. We could no longer justify the loans with the kind of lifestyle that we have and living each day “for the moment”.
Anyhow, if you’re intending to take a loan, do compare loans to make sure you know what you’re getting yourself into. It might not seem like a big thing. But it usually is.
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