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What do people borrow money for?

Updated: 9/22/2023
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11y ago

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People borrow money to buys houses, to buy cars, to start businesses, to gamble in Las Vegas, and for many other reasons, some good and some not so good.

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11y ago
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Q: What do people borrow money for?
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Related questions

The best time for people to borrow money is when?

this is from social studies.the best time for people to borrow money is when


People you borrow money from are your?

Creditors


From where do people borrow money?

the bank


What do people pay to borrow money?

The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.


How much money do people borrow?

Alot.


How does congress borrow money from the people of the US?

through taxes


What happened before people had no way to borrow money?

they didnt use it


Why did the US borrow money from china?

Because the people in power are stupid.


Why do people go to the bank to borrow money?

There could be thousands of reasons people borrow money. To buy a home, to take a vacation, there are too many reasons why people would borrow money to list here. Hopefully you got the jest of this answer. There are numerous reasons for the borrowing of money but common ones are; home loans, purchasing of insurance, purchasing of business companies, etc. People borrow money in general because they either can't afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realize is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank


Who the main suppliers of loanable funds are?

The suppier are people who saves money, While the demanders are people who borrow the money . NA GOD #


Can I borrow money from a lawyer?

Well, you can borrow money from anyone if they agree to loan it to you.


Can you borrow money from your pension plan?

Can you borrow against money from your pension plan?