The worse reasons to take loans

So I got a message from a loan company earlier today, claiming that a particular friend of mine took some money and has refused to pay back the loan. This loan company said my phone number was used by this friend of mine as a witness. At first when I saw the message, I ignored it because I felt it was one of those scammers. But when I read again and saw my friend's name, I thought it was real.

I had to call this friend of mine to ask her what the problem was and why she used my phone number to take a loan without my consent. She said she didn't use my phone number but that the loan company has access to her contacts. She added that I wasn't the only one who they sent the message too. It was sent to almost all her contacts and that since morning, she has been receiving calls from her contacts. My next question was, why did you collect a loan?

She said she used it to bet on a soccer game but unfortunately, she lost the bet. At that point, I felt like seeing her. If I was close to her, I would have raised my hands to give her a slap. How can you collect a loan from a loan company just to bet. Does that even make sense? I was so pissed. I asked her why she didn't pay up before the deadline and she said she didn't have the money to pay up the debt. She pleaded that I should not be angry that she will pay when she has the money and she hung up.

This is the same thing a lot of people do. They collect loan for unnecessary things. There is no point taking a loan if you are not sure of another means of paying back. And if you must take a loan, I advice strongly that it should be for something that you are 100% sure will yield profit so that you can pay back. I hear people take loans to do weddings. That's the most stupid thing to do. What's wrong in having a wedding within your budget? I just want to tell you that having a big or small wedding doesn't guarantee a long lasting marriage.

People need to understand that living within your budget is better than collecting a loan 100%. Just like I told my friend, her name has been tarnished because everyone who has seen that message sure have their reservations and that's not a good one at all. We all need to be careful and the most important thing we need to do is learn to prioritize things. That way we don't end up going into unnecessary debt that we may be struggling to come out.

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