The following are the factors to be considered before the process of borrowing:-
The debt may be worthwhile after careful assessment of risks. A crop loan taken while sowing looks up to a possible good harvest an educational loan enables seeking a qualification that can offer better earnings. These types of loans have a positive income effect and carry important social benefits.
Your realistic estimate of how much of the income is used to repay debt. If nothing remains to save and build other assets, you are spending too much of your income on the borrowing decisions you made in the past. If you can repay your loans while managing a saving ratio of at least 20% of your income, you may be having a manageably small debt burden.
Assessment of Risks:
When the position is as risky as a share, or a bet whose value is hugely volatile, funding it with debt can be ruinous more so when too much is at stake, risking a wiping off of wealth. Some of these families ended in ruins, as the stock prices did not go up as expected, or they failed to book losses and get out in time.
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