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We all have that one friend who’s forever “waiting for their next salary,” “just paid rent,” or “forgot their wallet (again).” But what if borrowing smartly could actually help you stay financially stable, grow your skills, and keep your friendships intact? Here’s how to take loans without becoming the “Can I borrow ₹500?” meme of your group chat.Before you hit “Apply Now” on any loan app, take a moment to list your needs (like upskilling courses or an urgent laptop repair) and wants (a Goa trip you’ll forget by Monday). Borrowing isn’t bad, but doing it without a plan is what keeps people perpetually broke.Create a 50-30-20 rule version for your loan usage: 50% for essentials, 30% for growth, and 20% for “fun without regret.”According to a recent survey by mPokket, 21.1% of India’s youth are already using credit to upskill or advance professionally, and 16.5% for education, showing a clear shift toward self-investment and long-term growth.When you’re sharing bills, Wi-Fi, or even groceries, ghosting your roommates after a loan-funded splurge is a surefire way to cause drama. If you’ve borrowed to cover a shared cost, be upfront. Honesty beats awkward tension every time.It’s tempting to use that instant loan for a new phone or that influencer-approved jacket. But borrowing should ideally move you forward, not sideways. Think of skill-building courses, certifications, or anything that enhances your earning potential.Rule of thumb: If it won’t make you happier or wealthier in six months, think twice before taking a loan for it.A recent mPokket survey data shows nearly 10% of youth are using credit to support freelancing, creative projects, or small ventures, highlighting how borrowing can unlock entrepreneurial potential.Easy credit can feel like free money, until your repayment notification reminds you otherwise. Treat every loan like an investment you owe back to your future self.Try this: Set reminders for repayment dates and track EMIs alongside your streaming subscriptions. Seeing them together can be… enlightening.Borrowing ₹200 here and ₹500 there might seem harmless, but those tiny IOUs add up and strain relationships. Use a digital lending platform instead of mixing money with friendships.Why it works: It builds your credit score and your reputation as the friend who pays back on time.When you finally pay off a loan, resist the urge to “reward” yourself with another expense. Instead, treat debt-free days as milestones, like hitting the gym for your finances.Healthy idea: Post that “loan cleared” moment instead of a shopping spree. It is cooler than you think.Create a mini financial pact in your circle: no guilt-tripping, no ghosting on dues, and no judging each other’s spending priorities. Mutual accountability keeps everyone financially responsible.Bonus: You’ll all have a support system that understands money mistakes, without turning every dinner into a debt collection meeting.Borrowing can empower you if done thoughtfully. The key is intention: use loans as a ladder, not a crutch. With digital lending platforms, India’s youth are increasingly using credit to take control of their money, invest in themselves, and even fuel entrepreneurial ventures.Because being financially responsible isn’t about saying no to fun—it’s about saying yes to the future.Disclaimer: Loan information is provided for general purposes only and does not constitute financial or legal advice. Terms and eligibility are determined solely by the lending institution. Borrowers should review all documents carefully and seek professional advice before making decisions.

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Business :Credit With a Purpose: Borrow, Grow, and Own Your Future

We all have that one friend who’s forever “waiting for their next salary,” “just paid rent,” or “forgot their ... ...