Although borrowing allows you to make purchases now, it restricts your future spending or saving.

Name: Although borrowing allows you to make purchases now, it restricts your future spending or saving.
Brand: Quizplus
Rating: 4.8 (56 reviews)

Question

Quizplus · Accepted Answer

When you borrow money, you have to pay it back with interest which reduces the amount of money you have available for future spending or saving. Additionally, if you have high debt payments, it can limit your ability to save for emergencies, retirement, or other future goals.

Although Borrowing Allows You to Make Purchases Now, It Restricts