Financial Economist and Data Analyst Emmanuel Dankwa has advised individuals to carefully assess their financial goals before taking out loans, stressing that borrowing without a clear plan can lead to unnecessary financial difficulties.
Speaking on Atinka TV’s Ghana Nie morning show, Dankwa emphasised that loans should only be taken with a well-defined purpose and a realistic repayment strategy.
“If you have no plan, you have no business taking a loan,” he stated, urging prospective borrowers to avoid making impulsive financial decisions.
He also cautioned the public against agreeing to act as guarantors based on emotional pressure or personal relationships, warning that such decisions could have serious financial consequences.
“Never become a guarantor out of pressure or emotion; only do so for individuals you trust completely,” he advised.
Dankwa’s remarks serve as a reminder of the importance of responsible borrowing and prudent financial management, encouraging Ghanaians to make informed decisions that protect their long-term financial well-being.
