I am going to make a statement over here.
It is about me.
And the statement is:
I have been a little misinformed about loans.
Now, I found something out about loans, though.
Well, the main thing here is that I am a designer, and I have been into graphic design trends for a really long time.
Although I am not much of a pen and paper cha (here, the keyboard chap), I can tell you that I am one of those individuals who rarely sit down to write and mostly, I spend my time drawing digital doodles.
I don’t even have a huge connection with language because I stay silent and spend most of the time drawing or painting what I need.
But, here is where I need to make a standpoint.
I am a completely zeroed-out person about money and have been very comfortable with my day job. I waited for my salary at the end of the day, and I have been quite happy with it all the time.
Oh yes, I forgot to tell you that I work from home.
Now there is a reason I have been working from home recently. I was not in the attitude of making a good standpoint out of my career as I have been acting like what we Brits say as ‘standing water as I was not increasing my potential at my job.
I discovered I needed some more tools.
And then I discovered 3 times the cost of my salary.
And then I also discovered (I wish I hadn’t discovered this) that my savings account had half the money I needed.
I couldn’t do all that math.
Instead, I did this, which you are about to read.
Why a Personal Loan Means Better Funding than Asking it from Family
Well, there are obvious reasons.
My friend Sam works at the mall and is one of the most expert chaps I have seen in my life with finance. He is one of those buddies of mine to whom I often take refuge for financial solutions.
On asking him about my discoveries, I got a fine statement.
I put this down below for you to understand:
“Mate, you have got to believe in yourself and the money you already earn. You are looking at an amount that is not your salary…okay that seems fine!!! Now, you deduce a part of your salary and make that into a collection over a period of 12 months…or a few months less, maybe…and you have got that insanely huge amount ready to help you with the purchase. Think if you will wait to save this money by monthly instalments or do the same with a small loan in Ireland, which lets you buy your gadgets right now!”
This has been enough for me to understand.
However, you might ask me if I could have taken the family help rather than the direct lender assistance. Why did I choose direct lenders then?
Well, it is time to find out…
You Can Keep Your Family Relationships Cool
No one wants financial burdens to trouble them in between relationships. You can have your relationships turn different just because of money.
Yes, money in this world is still a thing that makes people different.
So, it is better to take the responsibilities of earning and gaining money as an adult and make your funding yourself.
You can quickly judge that a family member might not ask for interests from you, whereas a lender will.
But look at the greater picture. A lender would have the job done professionally, and you will be even more serious about returning the money in time.
Not only will you feel good about it, but you will also be quickly over the financial worries.
And that is relieving.
There Are No Guarantor Issues
Taking a personal loan from a direct lender doesn’t mean you need a guarantor to allow yourself the loan.
A guarantor is a person or an institution that guarantees that you will pay the loan back at the right time, following the amounts your lender fixes for you.
If you cannot pay the money in time, then the lender would go to the guarantor to have the money repaid.
A guarantor can be a family member or an institution like your employer.
For some reason, you may not pay the money as intended. This would result in making the relationship between you and the guarantor affected. I am not saying that it would happen. But it might as well happen as there is money involved between you two.
You Can Learn More about Finance
It isn’t really important that you need to make a good standpoint as a ‘finance expert’. But you can still learn about money to make some important benefits.
With that being said, I can tell that I learned A LOT from the small loan in Ireland I took out from one of the direct lender websites.
I didn’t know about interest rates apart from the sums I learned in middle school. I have been thinking about it a bit worriedly as I didn’t know what to do with them and if my lender would make a sudden and unexpected charge from me as a repayment.
But speaking with the brand I had in mind made those doubts disappear with quality counselling and guidance.
I learned what interest rates are and what I gained from the loan.
To Conclude
After sharing these things with you all, I wouldn’t say I am misinformed about finance now.
But I do have a request for you guys.
You can choose a loan and welcome the idea that you are going to learn more about money.
In that case, choose a direct lender.
Not only will you know more about money (or be taught by them), but you will also get attractive perks like flexible interest rates and loan repayment packages.
Just have a word with one of them to find this out now!
