Financial peace
We are in decent financial shape these days and are trying to stay debt free. Oh sure, we could be doing better, but when you consider the fact that we were stuck in a business that going no where for three years and recently sold part of it, it’s safe to say that we don’t have financial woes is pretty good.
When we were having financial problems, we were very lucky to have an interest free loan from my sister. So we never need to apply for one of those personal loans to get out of trouble.
Having been in that situation in the past I know how stressful it can be when you are in debt and have overdue bills piling up. We do not have any car payments and we are currently debt free except for the mortgage, we would want to maintain that financial peace that we enjoy now.
The only kind of loan we would consider in future is getting a mortgage to refinance our house. Since the mortgage we have has passed the locked in period and the interest is fluctuating, we are considering taking up one of those secured loans with fixed interest rate. We are currently doing our homework, trying to compare loans available through different lenders before we commit ourselves. We are expecting to completely pay down this mortgage within the next 3-5 years, and hopefully that will give us much financial freedom and peace.
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