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?
Do you have a loan, why did you borrow?
