Growing up, while my family was frugal (e.g. we rarely, rarely ate out, we weren't allowed to purchase things that we asked to get at the store, such as toys, etc), I wasn't taught about money. Yeah, I was perhaps warned about money with the proverbial expression, "Money doesn't grow on trees," but I was never taught anything regarding a budget, nothing about loans, nothing about credit cards, etc. Rather, I just kind of learned (and poorly at that) as I went along . . . doing the thing that most kids my age did (i.e. get a credit card, take out student loans, etc).

It wasn't until I was married, finally finished with my 7 years of schooling post high school that I began to think, "Now, wait a minute. What did I just do?" Up until this point in life I really had no concept of the cost of living, or how to pay the necessary bills without going in debt. My way of living (though frugal as I could make it) was living off of my part time job, student loans, credit card and what my parents gave me.

Thankfully, I did not rack up as much expense and debt as some. Nonetheless, the debt remains with me. "Should I take out a loan," is the title of this article and what an excellent question it is when considering my above personal story. However, my story is not unique. In fact, my story is quite possibly the norm; sadly, the debt that I bear is also the debt that others bear. Thus, in light of this, what an excellent question it is!

Though I am not a financial adviser, I want to throw some thoughts out there regarding this guiding question of taking out a loan. If someone close to me were to ask, "Should I take out one," I would strongly urge them to think long and hard before making any kind of move. I would perhaps refer them to various financial advisers, people who know their stuff regarding finances. In addition to referring them to the experts, I perhaps would ask them, "What do you imagine for your future? Do you imagine paying off debt for the rest of your life, or not?" And a final thought that comes to mind is to just flat out say, "Don't do it!"

Having debt is no fun. It's always there; something you owe, plus interest! I have it. Others have it. And its JUST NOT FUN. Should you take out a loan? Ask the experts, see what they have to tell you. Ask yourself, "Do I want to pay off debt for years to come?" But above all don't rule out the option of deciding not to take them out at all!