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Unsecured loans and credit cards a curse to this generation
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My 2 cents
#11 Posted : Monday, October 25, 2010 5:19:24 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,091
Loans are to be avoided like the plague.

Credit cards are neutral, it is how you use them that can land you in trouble. Pay of 100% of the bill every month. If you are not disciplined, avoid them like the plague.

They come in handy when one travels or shops online.
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bird_man
#12 Posted : Monday, October 25, 2010 5:28:01 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
I don't think loans should be avoided entirely.
Let's just say that people should avoid loans whose use is not in purchasing income generating assets.
I have seen my parents achieve great stuff through Sacco loans.I just took one too!
Formally employed people often live their employers' dream & forget about their own.
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