Considering a short term loan

Spread the love

This is a guest post.

Considering a short term loan?

More and more people are considering taking out a short term loan, and if you listen to reports it looks like the number of loans being accepted is going up every day. There are a number of socio-economic aspects that can account for the rise in the popularity of fast personal loans, though there are two factors that seem to stand out above the rest. The first is the rising cost of living, everything from food to utility bills cost more than they used to and with most salaries remaining stationary, it’s not too hard to see why people are finding it hard to get by. The second factor is how common place the idea of lending is within our media: a lack of lending on the part of banks is partially blamed for the lack of growth in the world’s economy, and with the companies that are lending taking out plenty of television adverts; billboards; and copious online advertising; the notion of a short term loan has become more and more widely excepted.


Photo Credit: Images_of_Money via Flickr

If you are thinking of applying for a short term loan, there are a few things you should take into account before you apply. First of all: ask yourself why you need the loan. If you have an unexpected bill (or a regular bill is unpredictably large); car trouble; a big event you haven’t budgeted for; or if you lose or break an integral appliance in your life, then you have a viable reasons for needing some quick cash.

If you are in long term debt, are looking to buy a new, expensive product or perhaps want to go into the property market, short term loans may not be the right choice for you. There are many alternative financial services if you are in any of these situations, as well as credit cards, bank loans, consolidation loans etc. – Remember, this kind of loan is really best suited to an emergency situation, and the best advice would be to borrow out of necessity and not for luxury.

Save More Money in 2018

Coins 1523383 1920

Subscribe and join the worldwide 52-week money challenge! Get the tools you need right to your inbox.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit
Posted in: Guest Post

Related Posts

Leave a comment »


  1. TB at BlueCollarWorkman says:

    These are good questions for peopel to ask themselves about short term loans. Thing is, if you can’t make ends meet and pay your bills, so you deicde to get a short term loan for that, won’t you just run into the same problem next month? So that’s something for people to think about and work thorugh.

    • CF says:

      I struggle with this issue with my parents. Every time something happens, they look to get a loan – from me, from the bank, from their friends… I started telling them no, what will happen when next month rolls around? But they are not ready to make drastic life changes yet, I think.

      • I’m with you guys. I think if you’re going to put all the effort into applying for a loan, you could probably be spending that time to find a way to drum up enough cash to make ends meet with some type of side hustle or something.

  2. I guess if it’s necessary it could work, but an emergency fund is always the better option !

  3. I guess if I needed to take out a short term loan because I didn’t have the money saved and it for an emergency situation then I would do it. I’d likely see if I could borrow money from my family first which I’ve done in the past with interest and paid them back. The catch was it was a low interest compared to the bank. The thing is when people start to take out loans they really need to question why? If they are budgeting their money they will know why. If you can’t balance your budget and pay your bills, this new one will just add to the pile. I’d think twice depending on the circumstances. Cheers Mr.CBB

  4. I would use that as a last resort. You’d be glad it was available if you had no other way, but having an emergency fund is a much better idea in my opinion.


  1. Finance Fox Weekend Recap – Money Talks & Obama For Another Four! | Finance Fox

Leave a Comment

Top of page