Planning your next big step with a personal loan

Last updated on November 25th, 2021 at 10:54 am by Bill Tsouvalas

We all have dreams and goals that we would like to accomplish, but sometimes our finances fall a little short. This shouldn’t be the reason why you don’t complete them. A personal loan can help you with your budget in more than one ways. Whether you are completing a home improvement project, making a major purchase, or covering an old bill that is incurring interest, it comes in handy. Here are four reasons why a personal loan can bring you one step to achieving your goals.

Home improvements

1 in 6 Australians are not happy with their homes, but cannot afford to undertake any improvement projects. Your home should be the spot where you relax, rather than being harassed by the terrible sight of its aging structure. According to statistics released by Roy Morgan, there’s an estimated 93,000 Aussies who have active persona loans to help renovate their homes. The perks of this is that you can improve your homes aesthetic appeal to the level that you want. Loans usually range from $2,000 to $20,000 and vary from lender to lender. A personal loan can help you increase your home’s value by fixing things that could decrease its value. You could speak to an accredited personal loan provider to find a deal that is suitable for your home renovation needs.

Pay off your education fees

Knowledge is power when it comes to unlocking doors that can help you achieve the future that you desire. However, with student loans already contributing 43% to Australia’s public debt education is proving to become more expensive. According to a report by The Australian fees will continue to rise more than fivefold in 2025-26 with an estimated cost of $185t.2 billion.

The benefits of a educational personal loan can help ease the financial stress, so you can focus on securing that degree. Depending on which financial lender you approach you can get benefits such as discounted interest rates, a no loan top up fee, and a flexibility features that can help you better manage your loan such as the no required repayments for the first year with the graduate loans. Always make sure that you read the fine print of these loans, and weigh whether the drawbacks are worth taking a personal loan out.

Use a personal loan to cover holiday expenses

Holidays can be costly. Whether you are planning a much need getaway to a foreign destination, or you need to pay off costs from previous holiday spending a personal loan can sort you out. It can help you consolidate outstanding credit card balances at lower interest rates. The catch is to shop for the best rate that will benefit your situation.

Making big appliance purchases

Buying a house can be one of the few biggest purchases you will make. Turning a house into a home can be even more pricey. A personal loan can help you purchase major appliances that your budget may not be able to cover such as a spacious refrigerator, a high definition LCD tv, or buying furniture. When getting a personal loan, the main question you need to ask is if you really need one to consolidate your budget, and if you will be able to pay it off. You have the choice to shop around and always find an offer that better suits your needs.

Compare personal loans today

We’re here to help you find the most affordable options, so there’s no better way to compare personal loans and rates than right here, all in one place.