I've managed to get through my entire life without ever getting a bank loan.
It doesn't seem like a very good deal to me, so I don't see the point.
Most people go "whoopee" when they have a loan put into their account.
But say you get a £5,000 loan - your account doesn't increase by £5,000, it decreases by it.
It's -£5,000. A minus.
You instantly become £5,000 in debt, and so you are worse off.
You then end up giving the loan shark a reward (interest) as a thank-you for getting you into an even more dire financial condition than you were already previously in.
GG
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