Loans can be a blessing or a curse. Loans can be easily obtained, easily spend and easily bring you into deep financial trouble.

So all that interest that you pay to financial institutions could have been saved. You can live a happy, prosperous and financially independent life.

I guess most people will take out a loan to buy major stuff like cars and houses. There is nothing wrong with it, but try to save up for an affordable car and buy it cash. A house is a good investment and an asset in the long run.

If you are not married then you can rent a flat or a house. You don't have to make a 20 year or 25 year loan to buy a house. You could share the monthly rental cost by sharing apartment with other people. The advantage of this is that you will not be enslaved or in bondage.

Bring out your entrepreneurial spirit and use your creativity, gifts and talents to generate extra cash for you so that you will be at the means to buy a house or flat cash. It is definitely possible.

My car was bought cash. I owe no creditor anything. My next car will also be cash. Remember the borrower is enslaved to the creditor.

Loan Advice

• Don't borrow money from family and friends. Why not? Lots of friendships and families got broken up, because of money. Don't even talk about inheritance money.
• Save up for something that you really want
• Don't buy unnecessary things that you are not really going to use
• Try to buy everything cash
• Discipline and sacrifice goes a long way

I have lots of experience with bank loans, family loans and friend loans.

My advice to you is that you rather try to avoid loans as much as possible. I know sometimes it is difficult. Sometimes we want to have what the Jones's have.

Rather have good night sleep than trying to impress people. Money or loans doesn't really bring happiness.

The ball is in your court so you decide what you are going to do.

I know what I'm going to do and that is quite frankly "Not make loans!"