Financial matters
Are you getting a loan anytime soon? If so, you might want to check out MLCalc.com before you get a loan. This web site will help you compute the loan proceeds, installment payments, interest expense and more. This web site will help you decide if you are willing to commit yourself to the years of paying off the loan.
Let me tell you about a relative of mine. They loaned a huge amount of money several years ago to finance the construction of their dream house. The man of the house was working abroad that time while the lady of the house was working for a well-known travel agency that time as well. That was the reason they were brave enough to get that much loan and committed themselves to 25 years of paying it off. It was a big risk, I must say. You see, when they got the loan, they were 10 more years short of their retirement age. Some of their kids were still in college. They were neck deep in debt after 8 years. And do you know that their kids married after college? Their children for which the huge house was built did not even help their parents pay the loan off.
Now, the husband and wife are regretting that they got the loan impulsively. The man of the house is retired now. The lady of the house as well.
So I tell you, do not impulsively commit yourself to long years of paying off a loan. Compute first and foremost. And decide wisely.