5 ways you can benefit from a personal loan

Whoever thought that borrowing money could be a way of actually helping in this thing we call life?

If you’re a little low on funds or have small loans in multiple places, there are quite a few ways a personal loan can indeed provide some real benefits to your situation.

Before we proceed, it's important to note that the information provided here is for general knowledge purposes only and is not intended to be financial advice. It's essential to consider seeking professional advice relevant to your situation before making any financial decisions.

Additionally, it's crucial to clarify that the benefits of personal loans discussed in this article do not include predatory payday loans that are constantly advertised on TV. It's important to read the fine print on such packages to understand why they are not a viable option.

So if you're feeling financially constrained and looking for ways to improve your situation, securing a personal loan could be a smart move. In this article, we'll explore five ways that a personal loan can make your life better, giving you information to build your knowledge. So let's dive in!

5 ways you can benefit from a personal loan

1. Consolidate debts

If you’ve got one or more credit cards in the red and/or a couple of different loans on the go at once, it can be hard to stay on top of all the repayments. Add to this the fact that each of them has its own interest rate (with the credit cards being quite high) and things can become convoluted.

Simplify things by taking out a personal loan and using it to pay them all off instead. A personal loan should offer you a much lower interest rate, and instead of multiple different repayments you’re only dealing with the one.

2. Cover emergency costs

As we hurtle through space on this big blue marble, things happen. Unexpected issues with the car, late bills that need to be paid ASAP, funeral costs… The list of possible reasons to need emergency funds is endless.

3. Take a holiday

There are few better ways to recharge your batteries and refresh yourself than heading off on a holiday for a week or two. But between flights, accommodation and spending money, it can all add up.

Applying for a personal loan to cover these costs allows you to take that well-deserved (and needed) break.

4. Renovations

Need to fix up the fence? Want to get a bit of landscaping done? Redo the bathroom? Whatever renovations you’d like done, if you’re short on cash to do it a personal loan may be the answer!

And considering improvements to your home can help achieve a higher sale price when it comes time to move, it can be a good investment to get the work done.

5. Purchase a car

If your current car is on its last legs or you’re looking to buy your first car, going with a personal loan will enable you to buy something affordable to get you from A to B.

Secure quick approval with Stratton Finance

When you don’t have the time to wait around and twiddle your thumbs for a personal loan to be approved, Stratton Finance should be your first port of call. We go above and beyond to make sure approvals are lightning-fast and the entire process is completely hassle-free.

Since opening our doors more than 20 years ago, we have assisted innumerable Australians just like you to find the best personal loan deals available. Our dedication to delivering outstanding results for our customers has helped us build our solid reputation in the finance industry.

Discover what we can do for you today by calling us on 1300 787 288. If you’d prefer, send us an online enquiry and we’ll be in touch soon.