Off and on in the course of a life time we human beings need money to make a purchase and for this we need loans. We need loans unless our surname is Hilton or Gates or Trump, although the latter was for years no stranger to loans himself.
People with healthy bank accounts in general want to keep their accounts healthy, and this being so if they need money for whatever reason they very often prefer to take out a loan to make their purchases. They feel confident when their bank balance is pretty fat.
If we were God and could see the course of the life that lies ahead we may feel different but we are only fallible human beings who can quite suddenly suffer from an illness making it impossible for us to work.
Therefore the bottom line is that a pound is our best friend and no one knows when this friend will come in handy.
What loans are is money that we apply for to a loan lender and which he advances to us with interest placed on top of what we owe which forms the profit of the loan lender.
Loans are as such a fairly important part of the lives of many people throughout the world.
They are also an essential part of the life of a nation. Lending wisely and prudently borrowing what you can comfortably afford to pay is the basis of a healthy economy.
It is when the lending becomes reckless and the borrowing of loans becomes the same that chaos happens, and we are all living in the midst of this chaos at present.
Loans play an important factor in a healthy economy, but prudence is the keyword for both the loan lender and the loan borrower.
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