Although the holiday season arrives at the same time every year, it can come as a surprise to your finances. When you’re already pinching pennies to cover bills, the additional burden of the holidays can put too much strain on your troubled budget. Forget about making a list and checking it twice; you might have to skip this year’s festivities all together.
If you’re worried you’ll miss out on the most wonderful time of the year – don’t. You can still deck the halls and pay your bills on time. What you need is a loan from a direct online lender to help you through the season, but not just any loan – you need one that fits your unique financial situation so you don’t borrow outside of your means.
To make sure you never borrow more than you can reasonably pay back on your own, you should stick to those lenders that limit the size of their loans. It might be tempting to search out the largest loan that you can find in order to put on an extravagant Christmas, but it’s not in your best interest. Eventually, you’re going to have to pay back every dollar you used to make merry, and what was so easy to spend is a lot harder to pay back. Keeping your loan to an amount somewhere between $200 and $1,000 is just one way a reputable lender can help you make smart decisions about your finances. Small loans are only meant to cover your immediate, short-term goals, and their repayment won’t cripple your finances.
Another way lenders can help you borrow responsibly is by offering more than one type of loan. After all, what brings you to their business isn’t the same reasons that causes another person to take out a loan, so why should you be forced to take the same sized loan with the same terms? Your financial situation differs from anyone else’s and your lender should take that into consideration. If you can’t repay the principal of your loan in one sum by your next paycheck, you should have the option of a flexible repayment term. The payment is deferred over the course of several installments, and you won’t have to worry about rolling over on your loan.
Usually when a lender offers flexible, responsible options it means that they are state licensed, but it’s important for you to confirm this for yourself. Check their website and learn as much as you can about their company. Your state has enacted very strict laws regarding the size, rates, terms, and conditions of any small dollar loan. By ensuring your lender is licensed by your state to issue loans, you’ll guarantee that they follow these state regulations.
Once you’ve found a reputable, state licensed lender to offer your personal installment loans this holiday season, you won’t have to worry about it being a blue Christmas anymore. You can have the money that you need to get through the holidays, without dooming your finances for the New Year. So find a state licensed lender to help you handle your financial woes in a responsible way.