Nope. Excepting a mortgage and yes, I always repaid as per the mortgage agreement.
I used to take loans out at the drop of a hat, and repay them regularly. That was a few years back. Since then i have been spending only what i earn, and haven't spent on credit since two years ago. I haven't got any loans either, so i am in a good state at the moment.
Institutions offer loans in order for them to make a profit. They take calculated risks thinking that the amount of interest they collect will sufficiently outweigh the risk.
For people that are very disciplined a great way of making or saving money is to take advantage of the low interest loans or loans with teaser rates (ie. very low rates for 6-12 months). For example, i can borrow 5K at 1% for 6 months and put it into a 6 month GIC at 3%. I make 2% after 6 months. However, if I can't pay back the money after 6 months the interest rate might jump to 10% and i will immediately start to lose money.
If you are very disciplined about paying loans back (and on time) take the loans. If you have a tendency to miss payments or be late with payments you should never take a loan.
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