New Delhi, April 14 -- When you are short of funds, you could have a temptation to borrow money. And it is perfectly alright to borrow when the interest rate and the reason to borrow are 'right'. But what if you intend to borrow for something as avoidable as going on a vacation or for buying a luxury item.

This should definitely be avoided. Experts recommend investors to refrain from taking a loan for such purposes which can be deferred. "Personal loan should be taken only when you do not have any other option left. For example, when you can save money for six months to buy an expensive gadget, you should do that instead of taking a loan," says Deepak Aggarwal, a Delhi-based chartered accountant and wealth advisor. We explain the reasons...