Most of us will never be able to pay cash for certain things, like a house or even a car. Many of us take took out loans to pay for college. However, there are some things you just shouldn’t borrow money in order to purchase.
Generally speaking, borrowing for a house, your education, or perhaps even a vehicle can be beneficial.
Meanwhile, there are some items that you should never borrow money to purchase. Despite the apparent urgency that surrounds a few of these purchases, learning to wait or lower your expectations will undoubtedly save you money, and likely many headaches, in the long run.
Personal loans and mortgages are part and parcel of daily life. But while there are some things money can’t buy, there are plenty more that borrowed money shouldn’t buy.