After taking loan comes the weeks to remember...

They say you shouldn't waste your time regretting on your past mistakes rather try to take lessons from all of them but honestly, it's easier said than done because even as at this moment, I am still regretting the very day I made the decision to take out a loan.... Jeez, that was a bad experience.

Loan in this context could be said to mean money lent to you at an interest but maybe you have a wealthy friend who could give you the money you need without interest but for you to pay him or her back in due time.

Taking loans on it's own isn't a bad thing because there are sometimes when we aren't financially fortified and just need that helping hand.
Where it all goes South becomes when we take loans and the plans we have for the loans didn't work out, so to say that anyone who wants to take a loan already have a premeditated plans for the loans he or she is taking.

Life may be cruel at times and maybe the plans you had for the loan ended up not getting actualise and that doesn't mean you won't pay back the loan you took neither does it mean you'll have an extension on when to pay back especially when you took the loan from loan sharks or from institutions such as banks and not your friends.

My Experience

After getting exposed to the cryptocurrency world in 2020, I was pleased with how volatile the market could be so to say that someone who's committed to it could make around $50-$100 within a day but I didn't also consider the fact that in same way, you could lose the same amount too.
I was so biased to see just the positives and I didn't have enough money then but I was so convinced that I will double any capital I could lay my hands on, lol.

Source

Finally, I went to one of my friends who was rich per say and he lent me fifty thousand Naira for me to pay him back a month after . I was very happy and dreamt of my road to richness, hehehe.

I was initially lucky with the trades and I kept making profit but at a time, I wasn't so lucky again and before you know what's going on, I was already losing almost half of the money, I then discovered that trading on Demo and real account are just entirely two different things.... I battled every now and then to recover all that I've lost only to keep losing more.

The D-day for the payment was fast approaching and the money was not even ready talk more of my dreamt profits I would make... The remaining weeks of that month was hell to me as I would always keep racking my head for solutions but none found me; The weeks to remember!

How Were You Able To Survive It?

$DOGE coin!! That was my breakthrough.
I already exhausted my options and was just waiting for a miracle and one did happen with $DOGE coin...
Another of my friend called me and told me about the coin and how Elon Musk is influencing it's price, I decided to jump in on the trade and as luck may have it, I made a lot of profits from that trade and was able to recover the already lost capital.
Immediately, I recovered the capital, I withdrew the money out from my wallet and transferred it immediately to my friend...
That was when I had peace of mind again!! Jeez, I swore never ever to take a loan again.

What did you learn from the experience?

There might not be many lessons but if there was one I won't ever forget, it is to Never take out loans for investment

Investments might go either way as in favour you or go against you because same way we can't be unlucky everyday, we can't be lucky everyday too...

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Thanks for reading and have a nice day