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There are a hell of a lot of people who look at loans as something bad. My father always taught me that loans, if approached correctly, should be looked as an avenue for saving money. Yeah, I saw your jaw drop, and I can see that look of ‘he’s crazy’ all over your face, but let me explain. If you never take out a loan, and you have all this spare cash hanging around most people tend to spend it. It’s a shame but it is true that a lot of people do not know how to save and there philosophy of living for today will one day bit them on the arse when it’s time to retire.On the other hand if you had taken, say a home loan, out, then that money that you are forced to pay on your loan is actually a form of retirement plan. In regards to unsecured loans it may not be as clear cut but even so these loans come in handy when a quick loan is needed. Secured loans, which are loans that require some form of security, such as a car or home, perhaps for purchasing a business or something can also be viewed as a form of savings.

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