How will you spend this money?

I don't understand a point of taking a loan without serious reason. You will end up paying fees and interests and in the end it will be much more than $800 you will have to give back. So, firstly, I wouldn't take such loan, even more, the amount is not big so why put myself in debts for something like this? Secondly, if I had this money free to spend, I would go to Spain, to relax and see the sun!

in the first place, why did you get a loan? you only get a loan if you really need it but if it is just for the heck of loaning then you are actually digging your own grave, know you will spend it on something that you really do not need and end up spending more than saving because of the interest. since it is in your hands already, i would suggest you invest it on something that would make you money and pay off the interest of the loan.do not use it to buy stuff that would depreciate. be wise, my friend. if you still stuck in thinking what to do with it, i would suggest you put it back as early as possible and cut your losses short.be practical.

I will definitely not get a loan at this point of time. Because its a loan and you have to repay it along with interest if it applies. If there is a necessity, I will decide before I apply for the loan, on how to spend it...

If I had a loan with sitting money, with me having no idea what to do with it, I would just take that money and pay back the loan so I would not have to worry about that debt. I don't want something for $800 that will become $3000 with interest, I am a bit wary of that kind of stuff. I will probably need to get student loans soon to get myself through college and I really don't want to have to do that to myself, but I guess that is what an education costs...

didn't you have a plan before you got the $800 from a loan.you should plan it well how to spend before you loan the money.I always have plans before I got a loan,so no similiar problems,you could spend the money on what you are most eagerly looking forward

I will use it in a business and when I have earnings from the business that is the only time I will spend it for another purpose. Just like what I am doing right now.. Let the money circulate from your business and after you earn something then....go for it!!

I have a plan to open a small ice cream house and coffee shop that sell homemade ice cream and homemade espresso. Im going to use 100bucks for buying 2 ice cream maker and spend 30bucks for ice cream waffle cone maker. I want to buy also 1 espresso machine that worth 300bucks each, i think i could buy the gaggia, because they said it has good quality and affordable price. The rest maybe to have my paper cups being printed and also buy some mugs for espresso and coffee latte mugs. Hmm... i know later it will be summer and i have positive ideas in my mind that people will run into my small ice cream house. I dont need to big space for this business, but i have a positive mind towards it. But the problem now, i dont have extra money to buy those things. hehehe. Probably next time when i already have my own money, i dont want to borrow from anyone, especially inthe family because i dont want to ask them help, i just want to start bymyself, so how ever if im going to stop this business, i wont affect anyone especially person who lend me money... i just want to use my own money. All 800bucks, im going to use for buying all the needs for this small business. hehehe... I dont know, i always have so many plans in my mine when i handle a money but i do have trouble in my mind when i dont have money and i also have a lot of things to buy. ahaha

Honestly I would never get a loan if I have nothing to user for it. If I do need to get one, I would probably use it to invest in a small business. A computer internet rental shop perhaps. One that we've been trying to start this past few months. Getting a laptop would also be nice but it would be better if you have gotten it on installment with 0% interest. That's much more advisable that getting a loan that has big interest rates.

I don't usually get a loan and I am afraid to have one. But if ever I will, I would probably invest it in a small restaurant business for I really love to cook. At least, the money that I will invest on will be growing. And will have no problem paying for the loan that I got. HUGZ always best. Miss you!

Well, personally, I would not want to take out a loan if I could help it. We certainly don't need any more bills to pay off! But, if I had that money, I'd want to put it to the best use possible. If having a new laptop will help you make money, then buy the laptop! But, if it's enough of a down-payment for a house, that, to me, would be the best investment you could make with that money. Owning a house is definitely less expensive than renting! Also, when you're buying your own home, every dollar you put into it you will get out of it if you ever want to move and sell it, instead of paying rent where you are just paying off someone else's mortgage.

Well if the money is just a loan, then shouldn't you use it for things you really need? If you didn't need the money then why take out a loan in the first place? Also, I'm not one who spends loans. As much as possible I want to be able to repay it asap. I don't even borrow money from people unless I really really have to. I'd only treat myself if the $800 was a bonus from work or something that was given to me for free. :)

so far i am not a good planner.but if i were you i well use it for downpayment for the house.money is like salt its easily to disappear but at least if you spend for the house ,its usefull and you always see it.

If I have that money, I will use some of it to invest as a freelance programmer. I'm gonna use that money to install a stable internet connection in order to satisfy my clients. But the needed amount for installation won't be that much, so I'm gonna save the rest of the money for emergency use, or anything useful that might come up in the future. You never know what'll happen in the future, so it's better to be ready.

first thing if you want to have a loan is to think where you can get the money to pay the loan later. in matter of fact, many people get a huge loan but he/she can't pay the loan. so, i think if i have money about 800$ from loan, i think i must make that money to rotate so we can pay the loan later. maybe you must open a bussiness such as restaurant, mini-market, or many kind of shop. But, if you think you can't run these kind of bussiness, you can gamble of something like that. =)

I know getting loan is easy as paying it back is very much difficult. anyway, if get loan first i thing i will plan is most important for me. If you go office in public transport how much time do you spend on it and getting bike will save your time and you will be having much more comfort. Having laptop is good but it is not going to improve your productivity as if you are going to use laptop for home business that is going to improve than i will think of getting laptop. Anaylize features and benefits of each and compare how you will be going to repay the loan. All the best.

I will use it to put up a small business. But I need to study first what kind of business. Because I have little knowledge about it. I will make sure that it will earn especially it will come from a loan.

i'll do something to earn from it instead of spending it for nothing. it would sound good if it's your own money but if you got it from loan, better think of how you can multiply it coz remember its from loan and you'll be paying for it with an interest. its not really that big amount for a high earning business but it will earn for sure if used wisely. great topic neildc! happy weekend :-)

I will never get a loan without planning first where to use it. Even if the loan is offered so sudden and the terms are really good, still, I will not grab it if I can't think of immediate income generating plan out of it. It's unwise taking a load and letting it sleep in your hands while you are paying for the interest. And oftentimes, cash are so easy to dispose if they are just in your hand that you will barely notice it is no longer with you. Nowadays, if not for immediate/emergency needs, we should only take loans to finance an income generating venture. If you can invest your loan in something that has to do with house basic needs (food, groceries, etc...) then that would be great. (If it is always needed, the business can go a long, long, way.) However, if you can't really think of good venture that you can manage well, better not to loan at all.

in my country US $800 equals indian RS.38400...i can buy an average laptop...or i can buy some good desktop computer....its not possible to buy a bike in my country...its quite expensive..it will come around 44000 to get an 100cc bike...mostly i will use the money for my education process...the value of money is very high in my country....in banks they wont give loan as such...to get a personal loan in a bank, he should be a government employee ..to get housing loan , he should earn more to pay the interest....i will tell in a whole, there are different types of loans for each purpose, for example education loan, housing loan, vehicle loan, personal loan....we have to specify..

How are your finances? From the looks of it, you really don't need to do this unless you have to. Right now, with the market and all and banks closing, it's best not to get any loans. Your rates could just spike up, who knows. Oh by the way, before you do, make sure you check out the bank. Coz I just read today that bank of america's stocks are now less than $4. A lot of people how have investments with them or accounts are trying to get rid of them, with a lot of loss.