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  • Buying things by instalments keeps u permanently in debt .u r favour/against of buying?

Buying things by instalments keeps u permanently in debt .u r favour/against of buying?

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‘Buying things in easy installments keeps you permanently in debt’ and an installment loan is one that you pay back in equal payments every month. Every payment includes partial repayment with the principal rest going with the Interest. There are various installment loans such as payment of a car, payment of properties, etc. In this, you can pay every month which helps you to improve your credit record. There are small loans that we pay in installments every month through their agreement. However, they can lead you to serious financial difficulties.

An advantage of buying something in installments is that you can buy something that you don’t have all the money for immediately because you are paying it off over time.

A disadvantage is some people buy a whole load of things due to which they burden themselves by buying all those things and after some time they can’t afford it by paying money when they are due. He can face difficulties like there will be much pressure and stress on that person from backs or Moneylenders. And he has to pay those installments otherwise the Bank will sue them for not paying them. 

This is my opinion against that statement.

Posted by

Deependra Verma

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