Borrowing money has become one of the most used ways to buy something in today’s world, all the possibilities like a credit card or applying for a mortgage has tought us to believe we can have anything we want. I believe borrowing money is one of the worst things someone can do, and it should be the last option of achieve something.
We can not feel the borrowed money as valuable as the money that we work for. The difference is that when we buy something with money out of our own pocket, we first think about how much we worked for those money, and what damage it would cause in our balance, but when we borrow money we first think about the easiness of achieving those money and we spend them like it is nothing. I believe this could happen to everyone, just like it happened to me, when I borrowed money I took them as extra money, and not like money that I would eventually have to give back.
On the other hand, there are needs in our life that are urgent, but we can not afford them. By that applying for a credit or a mortgage is necessarily for completing our needs. From this point of view borrowing money could have a positive impact on our lives, and even though there are taxes applied afterwards, it is really helpful to borrow money from the banks, since everything is safe and well knowed from before.
In conclusion, I believe borrowing money should be the last option, since it would eventually cost more when you give those money back, and you could lose the value of money having those extra money on your hands.