When is it a bad idea to borrow money?

It's a bad idea to borrow money when you lack a clear plan for repayment or if you're unsure about your ability to meet monthly payments. Additionally, borrowing for non-essential expenses or to cover ongoing living costs can lead to a cycle of debt. High interest rates can exacerbate the situation, making it difficult to escape the financial burden. Always consider your current financial health and future income stability before taking on new debt.