Andrea Heng, host:
When do I know that taking a loan is a good versus a bad idea?
Jenn Ong, head of retail at GXS Bank:
Well, so you think about the opportunity cost.
I’ll give you an example, a broken kitchen sink, you need to fix it. Now, are you saying that, “Oh, I don’t have the money, I don’t have the means, therefore I’m going to live with a broken sink?” No.
So you have to take a loan because the other alternative is just not possible. So there are areas for you to think about. When is a good time to take a loan?
