Here's what I think about loans. It's not what "expert financial advisers" or "debt consultants" say, but it's what many people think is the simple truth. The truth is that you shouldn't need a loan. You are not on the right path in life if you need a loan. Not good to be in debt. People get loans out of need, greed, or a lack of sense. If you can't afford something you want or need, you shouldn't want it. Instead, you should want more money. But you shouldn't want to borrow money. Instead, you should focus on making money for yourself.
Now, most people agree that there aren't that many loans that are worth getting. For example, student loans go to a very productive, positive, and important cause. It is true that more than half of student loans are wasted instead of being used to help the student get a better education. But the people who use a student loan to get what they want in life are the ones who deserve the loan and can handle the debt. A bad loan would be something like a payday loan. You shouldn't get a loan if you can't support yourself between paychecks and can't save enough money for emergencies. Instead of taking out a loan, you should focus on making more money and use your "injustices" or "sufferings" as motivation to make more money and get your finances in order.
If you work for, own, or are in some other way connected to a bank or other type of financial institution that makes money from the interest that people pay when they borrow money, then please let me praise you. About 96 percent of all money is made by about 1 percent of the people. This is also not a coincidence. Some of that 1 percent are the financial institutions I've talked about and kind of put down. Just pat yourself on the back. You made so much money that you can now make even more money by lending it to people who don't have the right mindset to make money on their own.
Money is what keeps the world going. The question is, who will make the money?
You made both your good luck and your bad luck happen, and you overcame both of them.
