First time loan advice

RTC87

CLAPTON wrote: »

the reality of life is that debt has become 'normal'
it's normal to want a new car
a nice holiday
meals out


etc
nothing wrong with anything of those things of course, if one can 'afford' them


sadly, today 'afford' means 'afford to borrow' and not 'afford' as in 'I have money saved in the bank'.


it's not patronising but once it was accepted wisdom: today debt is normal


all school children should be taught the simple basic rules : save first and then spend
never have debt except a mortgage
use credit cards by all means but always pay in full every month


save a little of your salary every month
stuff happens in live and not being in debt is a wonderful thing.




good luck with the baby: hope all goes well

Thank you.

That is sound advice and something we will work to from now on. As I said previously we do intend to be debt free by Feb and by not having this loan will just build a life at a slower but safer pace.

Once again thank you all for the advice, helped give us some perspective.

Vikipollard

I know you've already made the right decision in not taking the loan, but I just thought I'd share that when we had our first born we had a 3-door MG Metro and we didn't struggle for space. Might not be as bad as you think


Congrats and enjoy the little one when s/he arrives!