Sunday, October 28, 2007

Young people no longer enjoy financial freedom...

Do you agree with me that most young people these days are in great debts at a very young age. The minute a young chap graduates and earn his or her first paycheck, they will start their first major investment by purchasing a car. Be it a new or a second hand car, vehicles in my country cost a bomb and most of the cars were purchased through loans taken from banks with a high interest rate.

Soon, he or she will start a bigger investment which is to own a house. With a salary merely enough to place a shelter above one's head, this young chap has increased his bank debts by purchasing a home with a minimal down payment. Interest rates on loans taken from financial institutions are high and usually the price of your home will end up costing 3 times it's original price after the repayment period!

So, if you're really interested to take Home Loans from a bank, I would suggest you compare the interest rates carefully for the best interest rate before you commit yourself into getting a loan.

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