Personal loan, Aug. 29 -- There are several reasons to borrow money. Some people borrow for home renovation, others for special occasions such as marriage, whereas a few take a loan to buy luxury items such as jewellery and gadgets.

However, it is not recommended to raise a loan for discretionary and lifestyle expenses such as travel. Read this article to know more about this.

Experts argue that raising personal loans is recommended for investment, not for consumption. In other words, there is a difference between raising a personal loan for home renovation and a holiday. The former is an investment and is recommended by experts, whereas the latter is a discretionary expense that can be avoided.

I. Whether it can be avoided: Expenses l...