Question

Give me 3 best reasons of borrowing money and tell me why

Answer 1

Answer:

To pay for student loans:

Education is very important but sometimes it needs to be payed for (like university). Student loans are used in order to pay for certain education opportunities.

To buy a house:

Most people will end up moving into their own house but a lot of people can't afford this immediately as they may be still finding a job or just don't have enough money saved. Borrowing money would be a good thing here because it helps a person to be able to live somewhere.

To pay for food:

Unfortunately, a lot of people don't have enough money for even basic things such as buying food and need to borrow money in order to afford it. Food is a basic human right, so borrowing money for it is definitely a good reason

Answer 2

Answer:

Hope this helps :D

Explanation:

1. To pay for school. Often, the best investment you can make is in yourself. Unfortunately, college and dental school can be costly. Without debt it would be almost impossible for many people to attend. You can feel good about using debt to pay for school as that debt will likely more than pay for itself.

2. To buy a building. Owning your own building can increase your practice's cash flow and net worth. Instead of paying for rent every month, you can instead pay a mortgage and build up equity. Then, when you're ready to retire and sell your practice, you will likely have a valuable asset on the books.

3. To buy a house. Much like buying a building for your business, buying a home can be a great way to increase your net worth. It can also give you the pride of home ownership and the ability to customize your home as you wish. Debt is almost always a necessary tool for buying a home.