It can be frustrating and stressful to run out of money and not have the money that you need to make essential purchases. When you are in this situation, it is often necessary to borrow money. However, it is important that you make good judgments about when you should and should not borrow money. There are good and bad reasons to borrow money, and it is important to be aware of what these are and avoid borrowing money when you really would be better off not doing so.
There are plenty of reasonable and legitimate reasons to borrow money on a short-term basis. The popularity of services providing payroll advance online is proof of the high demand for this form of borrowing. Basically, it is perfectly fine to borrow money when you are up against a wall and are in need of the money to be able to pay for necessary expenses. For example, if paying for repairs for your car is something that needs to be done in order for you to get to work and take the kids to school, then it makes sense to borrow money for the fix.
If you have medical or dental expenses that need to be covered but lack the funds to get them done, this is another situation where it would make sense to borrow money. Other emergency situations, such as having no food in the house and needing to buy groceries to feed your family for the next week, could also warrant borrowing money in a pinch. Essentially, it is perfectly fine to borrow money if you need it in order to be able to make do.
However, there are other situations in which it is a bad idea to borrow money. For example, if you want to go on a shopping spree for items that you do not need, you should not be borrowing money for this purpose. Also, if you think that it would be fun to go on a spontaneous trip out of town, taking on more debt to pay for a vacation is not a good idea. These are luxuries that are nice to have, but it is not a good idea to borrow money in order to be able to have them. It is a much better idea to do these things when you are financially better off and able to save money for these things. If you borrow money when you are in a poor financial situation and then spend it in this way, you will likely regret it when you end up having to scrimp and save later on to be able to pay back the loan.
Essentially, what you want to do is only borrow money when it is absolutely necessary to do so. Since you will be obligated to pay the money back, it is a good idea to not put yourself in debt unless it is absolutely unavoidable and you need the money to pay for the bare necessities. Whether you end up taking out a loan from the bank or you borrow money from a friend or a family member, it is not a good idea to borrow it for frivolous expenses. If you are in need of the money, that is one thing, but considering that you will have to pay it back as soon as possible, it is simply not worth it if you are borrowing the money to spend it on things that you do not need. You should use your judgment when you are borrowing money and ask yourself if you really need this or not.