Lending in 2021

Lending is one of those easy tickets to get out of a tough situation. I personally has have my fair share of instances that I had to get a quick buck just to get by and lending options are usually always made available.

However, lending instances can also lead to quite the struggle in the long run. In this article, I will be talking about the pros and cons of lending and why should you and shouldn’t consider this as a viable option especially if you’re trying to achieve something for yourself.

Let’s first go over the concept of It, what is Lending? By definition, it is ” the action of allowing a person or organization the use of a sum of money under an agreement to pay it back later.” Similar to borrowing but is more commonly used for monetary and financial purposes.

The most common instances for people to consider this option is for those cases where one gets low on cash or is short for something that needs to be paid off. In those instances, companies or even people resort to this to help elevate the status. Though this may not be any different from the idea of borrowing from a friend or relative, this falls under the what if’s.

Let’s dive into the Pros and Cons just so we would have a much clearer picture of the topic and why it matters.


  • One of the pros of resorting to lending is the ease of mind you get when in need. For instance, you missed out on paying your monthly bills because you spent money on buying a new product. Or perhaps subscribed to a service you badly needed and completely forgot about your payables, having to resort to borrowing is always an easy trick that anyone can do to help elevate the situation, provided that you pay it back.
  • Options. Like most people, nowadays there are plenty of options to go for that fits anyone’s lifestyle, be it through an organization, a person, or an app in which case can give you that peace of mind in covering what needs to be covered and can also work to your advantage if done accordingly.


  • If there is anything that can be associated with this, it is the concept of overspending. Most consumers who tend to overlook monetary concerns tend to overspend or overlook upcoming bills and because of which can lead to borrowing or resorting to this type of approach. Although this can help you elevate the situation, without proper planning, it can lead to more debt which can then give you more problems in the long run.
  • If you’re a credit cardholder, chances are you’d resort to this approach once you’ve maxed out the card or have gotten used to just throwing all of your hard-earned money to your bank so you can continue using your credit card. Having to go this route may ease off what needs to be paid but keep in mind, not all lending institutions will let you off easily without them earning something on the side.

Much like any activity having to borrow monetary items such as money, products and the like will always have corresponding terms and conditions, which is often being overlooked by many as the primary goal is to acquire money. This is probably one of the biggest challenges of many as it often poses a shock to borrowers towards the end of the road.

Generally, when it comes to borrowing money, a plan or strategy always comes into play so in the event that the terms and conditions are discussed it wouldn’t pose as a shock or a problem later on and can easily be dealt with just like any other transaction.

That being the case, should you consider this route, there are a few things you should consider before actually diving into it and this is based on my own personal experience namely the following:

Always Have a Back-Up Plan

We all know that the reason why you’re considering the option of borrowing, but just because the objective is to acquire money fast, doesn’t mean you’re not supposed to have any saved somewhere. Borrowing money from a person who does this for a living or perhaps an institution/ organization, will have their own due dates that you will have to deal with sooner or later and if you do miss out on paying for it, you’ll have to deal with penalties that may increase the actual debt that you borrowed.

Know your limits

Try to understand how you spend your money. It’s completely fine for you to spend money on yourself, your family, and loved ones to your heart’s content, but always put into consideration how far your limit is. By missing out on this crucial detail, can bring you a bit of a shocker once the due dates come in. True you can consider going for another loan or borrowing from another source, but that only brings more expenses to deal with.


If for some reason you do encounter problems or you know for a fact that you’re not that great when it comes to handling debts, there’s no harm in seeking help or advice. I personally do this by talking to those who actually help people in consolidating debts as this can greatly ease off any stress you may have to go through, especially once everything balloons to the point that it’s a little difficult to go through alone.

Hopefully, this article has helped you gained some knowledge on how to go about having to deal with loans, borrowing, or anything of that sort but if you’re looking for more informative ways on how to go about these things you can click here. In the event that you’re still looking for more interesting topics to read you can also click here.


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3 thoughts on “Lending in 2021

  • October 9, 2021 at 7:10 am

    Ang kagandahan nito we do any activity having to borrow monetary items such as money, products and the like will always have corresponding terms and conditions, which is often being overlooked by many as the primary goal is to acquire money.

  • October 13, 2021 at 8:00 am

    Learn more about it! Don’t be irresponsible! Know the pros and cons of everything! This is actually so detailed information.

    • October 22, 2021 at 8:59 am

      Thanks for sharing maam,❤️


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