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.
by Jane@CM7 years ago
How long does it take you to adjust to major changes in your life. For example, unemployment, a child moving out, a child getting married, relocation, starting a new job, etc.I'm learning it takes me about 4 weeks...
by Gary Anderson6 years ago
I must warn people from Australia with one Seeking Alpha article I just put out. Hope this will stand for your benefits, since I don't make any money on Seeking Alpha articles. I know some of you are from Australia.If...
by Jadeofheart2 years ago
Hello. Is there anyone here from an Asian country who got their google adsense approved? I've heard that if you reside in an asian country, you have to wait for 6 months. To be specific? What is it about that 6 months?...
by Ambiga Jeyaratnaraja3 years ago
Hi,I do not why Google is not approving my Adsense application. Am from India and I heard that people from India should wait minimum 6 months to apply for Adsense. Also they should have published minimum 10 hubs. I have...
by Gary Anderson6 years ago
Hi Marissa, a warning to Aussies: the housing bubble party is coming to an end: http://globaleconomicanalysis.blogspot. … s-now.htmlMish is usually pretty accurate about banker abuse and economic realities. I...
by ryankett6 years ago
Some very strange behaviour, any tips? Obviously I need to keep an eye on her, in case she runs away looking for willies, what else?I'm going to get her some little pug pants and panty liners, as we have just replaced...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.