When Should You Take a Loan?

[Nomad]

Loans should be taken only for two reasons, one, to invest in assets that will earn returns higher than the interest you pay on your loan. Two, to buy things that you cannot afford to pay at once but you can gradually pay in instalments, for example, like a house. However, a lot of people also use loans for non-essential expenses or luxury.

Do you have a loan, why did you borrow?

 

[The Hulk]

I've tried to get a loan but my credit is not great and no one is really bothering to give me a chance. I even tried to get a small overdraft from the bank. How do people prove themselves if no one is willing to give them a go?