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Christmas on the Plastic? Take Out a Consumer Loan Instead
We all know the temptation. You think you're perfectly organised, you've written the list of presents. You've attached a budget to each and you're determined to stick to it. Then time begins to run out. You spend the few remaining hours on last minute mall runs and what you planned to buy just isn't available. So you impulse buy, grab anything no matter what costs and stick it on your credit card. As credit cards can be the most expensive form of credit available, why don't you take out a consumer loan instead?
It's all too easy to overspend at Christmas. The average American spent $835 on Christmas in 2003, according to the annual holiday spending survey by Myvesta.org. We all get wrapped up in the festive spirit and get carried away with present buying. The only thing we seem to forget is actually budgeting for the event! Credit Cards are not the answer though, but a consumer loan may be.
Consumer loans or personal loans are normally unsecured loans and can be used to finance anything, from paying off bills, to purchasing Christmas presents, cars and even boats. Also you can obtain them from a huge range of financial institutions including banks, credit unions and specialist lenders. Just make sure that you spend time checking out the current interest rates. You may find that if you have bad credit you will need to take out a bad credit personal loan, but the interest rates on such loans will generally be lower than credit cards.
If you love shopping, then shopping around for the best deal could prove to be fun! Not only that, a consumer loan can increase your financing options this Christmas:
Of course, the ideal solution would be to save during the year to ensure that you have enough money available. But with so many demands on your disposable income, a little help from a consumer loan from time to time can help ease the burden. Just make sure that you pay back the loan in full and don't default on your payments. The last Christmas Scrooge you would want is a bad credit score!