Things I've Learned: Loans

I have been through the ringer this week. I've tried to get a personal loan at a bank which was denied because I'm in that weird gray area where my "profession" is not normal and I'm in my late 20's and have never been a holder of a credit card. So it's been one of the two...debt to income ratio was off or I didn't have enough credit history.

I've never felt like more of a rejected adult than I have the past few days...

While a little discouraging I have been able to find the goodness that all of this denial offers me:

• I know where I stand as far as my credit rating and what I need to improve.

• I've realized I could take a year improve my history and come back and try again.

• While taking that year I can pay down some student loans significantly and "cut the fat" in other areas that have needed some attention for some time.

Again, while still disappointed that I couldn't get what I was aiming for RIGHT NOW these thoughts above have kind of taken a weight off my shoulders. For at least another year I will not have to repay yet another loan and thus helping myself get out of the debt I already find myself in and in so doing prepare for the eventual loan I will need.

Although the aspects of this post will not excite younger readers I implore you, youth of the now, if you are able get a credit card with a limit and start building a GOOD credit history for the future! Seriously, had I known what I know now I would have done it. Personally, I think the credit system is extremely messed up. 

Like, who says "sorry we can't lend you this money because you haven't been in enough debt in the past to prove you can pay off debt." It's a little silly, but I digress. I'm thankful that God has given me the opportunity to figure this all out and see it clearly without feeling like I have had a total let down. He is good like that in giving us perspective when we need it most. 

Onward and upward as they say.

Cheers