I know that I’ve been talking a lot about loans lately but this is based on the fact that while money is coming in fairly well at the moment, it’s all going towards my trip on the 12th. In the long run, however, I don’t ever see myself actually getting a loan. The reason so many people are in debt is because they’re living far beyond their means. Sure, you need to get a mortgage on that house of your dreams, but even if you paid for the house in cash you’d have to pay off a mortgage for a possible tax break in the future.
No matter which route you take, you’re screwed. Secured loans, home improvement loans, re mortgage loans, car loans, personal loans, student loans, and any other financially damaging thing they’d give you a loan for. Everyone is so willing to give you money just so they can beat you senseless with interest rates.
I don’t like the idea of a secured loan. I don’t like that in order to borrow a couple hundred dollars to pay the bills that you have to put your house or your car up as collateral. I’m sorry but anyone stupid enough to take this route deserves to lose their property. If you don’t have enough money to pay your cell phone bill, why not throw out the phone? If you can’t afford your rent because of your location, move to a place that you can. Having a cable internet, HDTV cable and a VOIP phone is a want, not a need.
Anyone can cut corners in order to cut back on their bills, the problem is that no one wants to because they feel they deserve everything that they’re getting. If it’s the choice between feeding your children or getting yourself a new outfit, and you choose the outfit – forget the debt, call CPS.
That’s just my take on it, at least.