The conversation below is perfectly fine. Notice the omitted words in brackets:
A: My sister just graduated, but her new job doesn't start for 2 months.
B:Really? If I had the time (that your sister has), I would borrow some money and travel.
A: If I didn't have enough money, (unlike you) I wouldn't ask a friend for a loan.
B: What would you do?
A: I would stay home and read.
Question No. 2
Predicaments is a plural noun, so neither "situation" or "problem fit as both are singular nouns.
Question No. 3
provide a reason
Student or Learner