Paragraph on Saving Vs. Borrowing
There was a time not long back in
India when people preferred to save first and buy later the things they wanted.
But with the entry of the multinational companies with vast capital base, a
significant change has been brought about in our perception too. Now a person
can buy a thing on availing a loan from numerous sources and repay it in installments. It is not that our forefathers did not like to borrow, but they
did only to meet urgent or compelling needs, such as marriage of a girl,
investment in business, and such other causes. But today loans are available on
the drop of a hat, and that too on very low rates of interest. It has aroused
the desires of the conventional people too to avail a loan to fulfil their
dreams of having a posh house or a car, not to talk of numerous domestic
facilities which have more or less become the feature of almost every house
including those of rural areas. The moot point is—is it good or bad? It is a
matter of individual perception. But one thing is for sure; if the borrower is
not at ease to repay the loan, he is for certain going to face the ire of the
lenders. So one should, in one’s own interest, take only as much loan as much
he can repay within one’s resources. Where a person has to take another loan to
pay for the earlier one, There is hardly anything which can prevent his
bankruptcy in the days to come.
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