By: Saul Kalivubha
Worth Noting:
- Before you take out a loan you should know that there are other deductions for your basic salary so the loan will increase the percentage of your deductions if you were deducted ten percent now it will probably be twenty percent so you will be able to live on eighty percent salary until you finish deducting your debtors? Don’t forget to consider this
- Another important point to consider is that the loan you are taking out for a purpose now if you were to save would you be equal to the loan you are taking out for those years that you will have to repay? if so then realize that the loan is within your reach and if you do not see it then reconsider before entering into the loan agreement.
Loans are a savior for people of all walks of life and low-income people as well, so it is not a bad thing but a part of economic liberation. The main terms and conditions such as interest as well as the time limit for repaying the loan should be considered before, and before the customer can be lent you must meet the criteria including the client agreeing to the terms by signing the agreement form so before signing it make sure you consider yourself twice without any external pressure from your coworkers, be you be smart then do decisions
At work there are all kinds of people in terms of success and decision-making as well, there are those who are already at some stage in development and there are those who are just starting out, I mean new employees and some are not new employees but their income is not big enough to do such big financial things then the issue of comparing oneself with their predecessors begins but the mistake comes when the motivation to do great things in the short term overwhelms the employee and without thinking a second time decides to take out a loan beyond his control, if you’re in this condition don’t take a loan because your driving force comes from external stimuli and not within you bit it’s just a result of comparison
Employee before you take out a loan first make sure you are sane and have made sure that the type of the loan and the term of your loan are satisfied that you will not get any serious consequences but great benefits now you can take out those loans and not be anxious for greater success or because you have compared yourself to your co-workers and you find yourself behind successfully now you want to take out a loan to run away with them for those reasons if you have them then you are not eligible to take that loan stop altogether.
Before you take out a loan you should know that there are other deductions for your basic salary so the loan will increase the percentage of your deductions if you were deducted ten percent now it will probably be twenty percent so you will be able to live on eighty percent salary until you finish deducting your debtors? Don’t forget to consider this
Another important point to consider is that the loan you are taking out for a purpose now if you were to save would you be equal to the loan you are taking out for those years that you will have to repay? if so then realize that the loan is within your reach and if you do not see it then reconsider before entering into the loan agreement.
Given the increasing daily responsibilities and income being the same it is not wrong to think of loans as a solution to solving your economic independence that is a good idea but not emotionally if you do it emotionally you will find yourself in trouble and regret paying off the loan and probably got into mental stress until you finally decided to end your precious life and time if you had a good mind and you would have made the right decisions before you took out the loan.If it is a loan you need for a business then try to be sure of your business idea by doing enough research to satisfy yourself before the start and if possible do not spend all the loan money on the business but start by a certain amount and then gradually increase capital because most businesses if you start the challenges will be too many and may die and start all over again so you have to be defensive in that as well
Scientist Saul Kalivubha
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