Money Mistakes: 1.Never borrow money with interest to start a business

Never borrow money with interest to start a business (except for salary loans);
only borrow to grow your business. This is because business takes a long time to gain ground and begin making profit yet for most of the loans you begin paying back a month later or even earlier. Hence, don't ever borrow to start a business expecting that the business to be the one to pay back the borrowed money plus the interest.