Borrowing Money

One of the topics that didn't make it to the top three topics this week is titled payback time and it's a topic that has to do with collecting loans and paying back, a topic I happen to be familiar with because I have friends who have collected loans from all these loan apps and they've told me some unpleasant stories about it.

_{photo by Daniel Thomas}

You see, I've always been against collecting loans from any loan app, not for any particular reason but because my spirit has never sat well with it. Unfortunately, a really close friend of mine had gone ahead to take some loans about a year ago and his life hasn't been the same ever since.

He has constantly been in debt, trying to repay back the money but everytime he tries to pay the little he can, he ends up owing even more due to the huge interest attached to those loans, until he eventually stopped paying.

And the crazy thing is that you would think he would stop at one loan app, but that wasn't the case, he kept on borrowing from other loan app and wasn't paying back. Now although that could be due to his foolishness or condition that was in, one thing I've come to realize is that the moment you start to collect money from loan apps, the moment you start seeing that as another source of income when you're broke, you will always keep on going back unless you have a strong will to stop which rarely happens.

And that currently is now my main reason why I'm now strongly against loan apps. People tend to get used to things like this quickly, and the moment you form an habit of constantly borrowing money, you just might never get out of it and will forever remain in debt.

It might not sound true to you guys but trust me when I say that based off of the experiences my friends have had with these apps and how they keep on going back to take more loans, no matter how hard they find it to pay the previous one they've borrowed.

So please, try as much as you can to avoid loan apps. If you must take a loan, don't take it from the ones that involves monthly interest and stuff, because you will end up paying money you didn't even use.