Dec 30, 2006

On Loans and Personal Debt

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With the holidays almost past, many families are facing financial difficulties. While I would personally advocate thrift, sacrifice, and starvation before adding debt, some people find that consolidation loans can help ease their financial burdens.

If you are such a person, please consider visiting these links to learn more about secured loans. They offer information on personal loans and mortgages, and Loanwize was kind enough to sponsor this post.

I, personally, am an advocate of getting a second or third job when times are tough, and would rather eat Ramen noodles five nights a week than to take on more debt. Since we began to eschew credit cards and buy used cars over the past seven years, my wife and I have been able to save a great deal of money, while finding ourselves owing money on our mortgage and a few student loans.

This is in spite of the fact that our combined annual income has decreased by over ten grand in the same period. Still, my personal austerity measures are likely anathema to the credit-addicted masses, so if you find yourself in need of a loan, consider visting the Loanwize website.

3 comments:

microdot said...

My only comment here is that it is amazing how much stuff you don't need to live a comfortable, happy life.
The more stuff you have, the more stuff you need!
I get real satisfaction out of my miserly, penny picking, skinflint existence!

Mark said...

One thing truly bad about secured loans: if you should ever declare bankruptcy, the secured lenders not only get paid first, they are entitled to be paid in full.

Just a thought.

Hooda Thunkit said...

Mike,

You are on the right path to being debt free one day, congratulations!

Dave Ramsey would be proud of you, and that's a sincere compliment ;-)

Most however would rather have the debt...

Hey, if the second richest man in the world buys used cars, I'd say that you were in very good company ;-)