The best time to borrow is when you have a strategic plan for the money and aren't in critical need. If borrowing money helps to reach life goals such as completing higher education or reaching homeownership is usually a better idea than acquiring debt that provides no long term return. Before you borrower, ask yourself:
1. Will borrowing improve my situation in the long run or is this an impulse purchase? 2. Could I wait until I can pay for this without having to borrow money?
3. Will the additional monthly payment put a strain on my current budget and cash flow?