In determining the amount of your loan, you should ask for about 20% more than you need in order to give yourself financial flexibility in the future.

Question

Question 29 options:

True

False

Answer 1

False

It's generally advisable to borrow only what you need to meet your specific financial requirements. Borrowing more than necessary can lead to increased debt and interest payments, which may create financial strain in the long term. It's important to assess your needs carefully and consider future financial scenarios before deciding on the loan amount.