New Delhi, June 12 -- Taking a personal loan to spend on non-discretionary (and discretionary, at times) expenses is quite common. Relying on it when there is an emergency is no brainer. At times, consumers take a personal loan when they need money for home renovation.

On other occasions, people tend to borrow for spending on weddings and other functions. What is the point where the line gets crossed? Is going on travel a good enough excuse to borrow money? Definitely not.

It is not recommended to take apersonal loan for something as discretionary as travel. We give reasons for this here.

I.Avoidable expenditure: This is an avoidable expenditure which if not undertaken - would not lead to any problem.

II.Set a wrong precedent: When yo...