I’m lucky enough to be almost debt free. Oh sure, we have a mortgage on our house that we put money down on twice monthly, and of course we do have a credit card that’s built up a balance that we are working to pay off, but other than that we don’t own anyone any money.

I’m really proud of how we stand financially. There were times in the past when we had to take out loans to consolidate debt, and we’ve had an unsecured loan in the past as well.

I hope those days are over. I really don’t like the idea of borrowing money. Especially when I have to pay it back at an unreasonable interest rate. I do think that for some people it’s far too easy to get a loan these days. It almost seems like the bank doesn’t check to make sure that the person will really be able to pay it off on time, and the next thing you know they’ve missed payment and then they are approved for a bad credit loan to help pay off the original debt. It just seems like a vicious cycle.

I’m so glad that it seems we are out of that now. If we ever do take out another loan it will either be a bigger mortgage loan or perhaps one of those secured loans so that we can do major renovations on the house.

Actually a new car might be in our near future. We don’t have the cash to pay for one outright so I suppose we’d have to finance that too. But that’s it. No more loans for us if we can help it.

How do you feel about loans?