Why Wait Until the Last Moment to Take a Loan?

by : Hilary Bowman

I am really surprised at how many people wait until they are desperate, to look for a solution to their weak finances.

Are Loans Healthy?

It is generally accepted that if you "have" to take a loan it's because you are in a desperate state and you can't get by on your own. I agree to the part where you can't manage alone, but the state of despair doesn't really have to happen.

Do Loans Equal Bad Image?

Nothing of the sort! What gives you a bad image is the endless spending spree you are in and obviously the collectors at your door. Of course, nobody does it on purpose. It's just carelessness.

Large Families

It often happens in large families that the kids' spending gets out of control. Maybe adolescent fashion whims or current accounts at the local drugstore mean a heavy toll on the monthly expenses. Well, the only thing to do here is to close the accounts and get all permission go through Mom and Dad.

Stopping Before The Red Light Turns On

Before you have to start refinancing your credit card balance, it is sound enough to get a loan and pay it off. That is something I didn't do when I should have and learnt it the hard way. I ended up with a 6,000 dollar debt, when I was finally able to pay for it, with an original debt of 1,500.

The Magic Word

Yes, you guessed. I paid for my debt with a loan. But it would have been a lot different if I had taken the same measure 4 years before. The amount would have been a lot smaller and much easier to pay.(and obviously with less distress)

Time Is Money

Don't let things get out of hand. You'll save money, time and trouble. But most of all, you will do good in stopping up the holes in your economy. As I say further up, time is money. The sooner you pay off your debt and start with a new attitude towards spending, the smaller your debt will be and the easier it will be to pay the monthly instalments of the loan.

It Isn't As Difficult As It Seems

Take the decision to put an end to your financial suffering. This is the first and most important part of the plan. Taking the decision is then followed by the action of finding out what options you have. Now you begin to feel the "fear" slowly vanishing.

As you know more and become more familiar with the terminology, you feel more confident, thus backing up your decision and feeling happy you took it. Asking for free quotes will act as both valuable information and a practice to help you feel totally at ease when you go for the real deal.