30 years

Have you ever applied for a loan? Taken out a loan? Did you feel empowered, or pained? I guess how you feel about it has something to do with your reasons for the loan. I saw a couple on a TV show this weekend, and they were $400,000 in debt. They had taken out a home equity loan (which are secured loans tied into your home) on their home to pay off their debt, and the host of the show pointed out that in 30 years, they would JUST have finished paying for the shoes and clothes that the wife bought last month. It’s sad, really, when you think of it that way.

I’m sure the day will come when my husband and I apply for a loan other than a car or mortage - perhaps a loan to put in a pool, or something else we need. Maybe we’ll check into unsecured loans or maybe we’ll do a home equity loan. I know what we will do though - we’ll compare personal loans online and know what we’re getting into before we do it. I don’t want to EVER have to take out a loan to pay for silly things like the woman I saw on TV!

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