Borrowing without prior planning or improperly using the loan money can lead us further into debt. However, we can fall into debt with no fault of our own as well, for instance:

In the cases where we don’t evaluate our risk correctly

OR

The intended goal doesn’t pay out as much as we thought

OR

In case of debt, we have inherited

• Borrow within Means.

• Have good savings practices.

• Rely on yourself to pay back money borrowed.

• Do not borrow more to pay back the previous money borrowed. It could easily lead to a debt trap.

• Look for loans that do not ask for a security.

• Explore and apply for subsidy and government schemes that could help pay back the loan.