Should you take a Loan or Not

Loan means to take some money from either a person or a bank and return it after some time.

Most of us face financial problems or due to any other reason we are bound to take loan from our friend, relatives or when a big amount of money is needed we take a loan from our bank.

Well, you landed on this article because you probably are thinking of taking a loan for any reason. There are some things you need to keep in mind before taking a loan.

I will mention the three most important things you need to consider before taking a loan.

  1. Why are you taking a loan?
  2. From where are you taking the loan? ( A bank or a person )
  3. What will you do with the amount of money you are given?

These three things are the most important points if you should take a loan or not.

Why are you taking a loan?

This is a really important point in deciding if you really need a loan or not.

For example if there is a very serious financial problem with you and you literally need money to live then of course you will take a loan but this will definitely trouble you in long term because if you do not have money for food or to live then how would you manage to return the money back.

I would never suggest you to take loan for unnecessary things. It would bring a problem for you in future.

On the other hand if you work smartly then you can take a loan and invest it in a business or buy shares of companies. Anyway, this is really risky for you and for your family. If you think you are an expert in this field then only you should try this.

Lastly you can take a loan if you are very dedicated towards an idea and you need money for that. Mostly students take loan to go abroad for their higher studies and sometimes you need to work on a project that requires money.

But think twice before taking loan in these situations. Because as I said loans can be really risky for you and for your family.

From where are you taking a Loan

This depends because if you are taking a loan from a relative or a good friend because mostly they won’t ask for interest. This means you would return the same amount you have taken.

I would always suggest you to take a loan from a person but obviously a single person can’t offer you huge amount of money. This means you need to go to a bank for a loan.

Banks demands some amount of interest when you are returning the loan. A bank first checks if the person is financially stable enough that he can return the money. So if you are in a huge financial problem then you can’t look towards the bank.

With technological advancements, lenders have made it very easy for borrowers to avail loan facility. You don’t always need to visit lender. These services are no available online as well. You can visit website for instant cash loans, fill the form and submit your application. You’ll be responded earliest possible with approval or rejection by email, call or sms.


Things are not same always. There are two sides of coin. Similarly, you’ll have good days and bad days in personal life and you’ll have different phases in business as well. Be calm and don’t take depression in bad times. Avail loan for needs that you cannot survive and avoid considering loan to improve lifestyle and wishes.