Most of us have had a moment where we felt concerned about our financial habits. Most of us have not always been responsible with money. It’s a learning curve that we eventually overcome. However, sometimes in our lives, we will need a little financial help. That could be in the form of a loan. While loans are suitable in several situations, if you get a loan for these reasons, don’t!
Now Im not saying to never take a vacation. I am saying, only take one that you can afford. Vacations, for me, are like a stress reliever. I need them all the time. But what I won’t do is go into debt for one. Instead of getting a loan to fund your vacation, you should do one of two things. Option one is to save up some money and wait until you can afford it all on your own! Option two is to find a vacation that fits within your means. You don’t need a $1000-$5000 vacation. Vacations can be done for as little as $300. You have to use your resources and research skills to figure it out.
We all want to be beautiful, and there’s nothing wrong with it. There is nothing wrong with a little cosmetic surgery as long as you can afford it. Before you get a loan for such a procedure, see what’s covered under your insurance. If you can tie your procedure back to an ailment you have, chances are it will likely be covered. If not, figure out ways to get the money on your own. You don’t want a beautiful new figure, smile, etc and a negative balance in your bank account.
Wants, Not Needs
Lastly, there are things that all of us want but do not need. I understand the urge to splurge now and again because I do it all the time. I can’t tell you how many times I found something on Amazon to purchase but did not need it. If you have the money to do that, go ahead, but if not, stop it now. If you are going to get a loan for something, it better be something you can not live without because you have to pay that money back. A good rule of thumb is that if it is not in your budget or can not be paid back in a few months, don’t do it.
If you’re already in debt, don’t make it worse by getting a loan for these reasons. It will become a nightmare that you will live to regret.
Shatel Huntley has a Bachelor’s degree in Criminal Justice from Georgia State University. In her spare time, she works with special needs adults and travels the world. Her interests include traveling to off the beaten path destinations, shopping, couponing, and saving.