Currently, there is no consensus on whether it is worth taking a loan for an ordinary citizen or not. Of course, one category of citizens believes that lending is an excellent opportunity to solve problems and purchase the necessary thing. Others believe that this is "bondage", in which you should not get involved under any circumstances. In order to understand whether or not it is worth using the credit products of banks, we will understand the pros and cons of such an undertaking.
It is necessary to highlight several main types of lending that are very popular among all segments of the population: consumer loans, mortgage lending and loans for the development of their own business.
Is it worth getting a mortgage loan
This type of lending is necessary to improve housing conditions. The person who takes out the mortgage overpays double the cost of the apartment for the entire loan period. This is the main disadvantage of this type of lending. However, it should be borne in mind that in Russia mortgages are provided in national currency. Taking into account the rise in inflation, mortgages can be a profitable venture. In addition, by getting a mortgage on a loan, you are relieved of the need to live in a rented apartment.
Before criticizing mortgage lending, you need to think about how much time you would have to save for new housing and live in a rented apartment.
However, if you do not have your own home, and there is an opportunity to get a mortgage, then you should take this chance. Each person must decide for himself whether to take out a mortgage or not.
Business development loan
This type of lending is actively used by entrepreneurs who want to expand the scale of their own business. Thanks to this type of lending, you can bring your business to a new level of profitability.
However, you must clearly understand that the basis of stability is your own funds, and you should not take numerous loans. Before applying for a loan, it is necessary to calculate the repayment possibility well. Remember, the payment of the next installment under the loan agreement should not affect the conduct of your business.
The main thing is that the borrowed funds can attract new clients. To do this, you need to carefully study the market structure and the dynamics of your own business in advance. It will not be superfluous to study the activities of competitors.
When deciding whether to take out a loan for the development of your own business, you must be guided exclusively by common sense and focus only on getting the maximum income.
Is it worth getting a consumer loan
When applying for this type of lending, it is necessary to take into account that this kind of loan is a dual phenomenon. The purchase of durable goods, such as equipment or a car, can significantly expand our capabilities, but for such convenience we will have to significantly overpay. Nowadays, very often you can find a situation when a young family draws up numerous loans and cannot cope with repayment. Rough decisions only lead to a financial crisis.
Before applying for a loan, you must clearly define the purposes for which you are applying for it. You should not apply for a loan to pay off old debts or use it for everyday expenses. After such a decision, you will have to grab your head and think about how to earn more.
Any loan requires a lot of responsibility. It is necessary to clearly understand what risks you are placing on yourself, and whether they are justified.
In addition, consumer loans are highly addictive, as are drugs and alcohol. In many countries, this addiction has become a big problem. There is a category of citizens who cannot imagine their existence without loans.
Therefore, at present, people are divided into two categories of citizens. The former live within their means, rest and carefully save up for their dreams, while another category of citizens took everything they dreamed of from life and pays for it with overwhelming work.
There is only one conclusion - each person decides for himself whether it is worth taking a loan or not. A sober approach to this issue will help not to fall into a debt trap.
