omar30

Should I borrow money ?

3 posts in this topic

I want your opinion guys about whether should I borrow money or ably for a loan to start my own online business.

I dont have so much money I only have 200$.

should I avoid that and work a regular job instead but it will take a long time to make the amount of money I need from a regular job because I dont have special skills that can pay me above survival. 

 

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Borrowing money should be your last option .. as it doesn't require any creativity or outside of the box thinking.

Push your mind harder in finding ways to make money without debt/interest attached.

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Leveraging credit is fine if you have a proven strategy that you want to scale up. In your situation I would start small with what you have and try and put some kind of strategy together, really this is the testing period so if you make mistakes with $200 and lose it, it's not the end of the world. Whereas if you borrow money to run experiments and you lose that it will be even more difficult and take even longer to recover.

So I would say either work with what you have or save up more and work with that. The knowledge is the most important thing now so just get started and things will become clearer 

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