Taking control is important when it comes to money matters, and personal loans can be a smart solution for taking the financial bull by the horns, you might say, in a variety of financial situations. While many people use them to consolidate debt, you can also use them for weddings, vacations, medical expenses and more.
Use our quiz below to find out if a personal loan might be right for you.
To make progress on managing debt, first you need to size it up. Start by determining the amount that you need and what you can afford.
Use our personal loan calculator to estimate how much you can pay on a monthly basis.
Though its uses can be dynamic, a personal loan is a tool to help you financially take control. After you’ve determined the amount you need, look at your budget to determine how much you can put toward the loan each month.
When consolidating credit cards or refinancing an existing loan, you want to be sure that math adds up in your favor. If you can lock in a lower interest rate, only make a single monthly payment, and perhaps pay off debt faster than before, then that sounds like a pretty good plan.
If you’re financing a major expense, like new kitchen appliances, or a life event, like a wedding or a vacation, consider how much more a personal loan payment will factor into your monthly expenses.
We understand things like debt consolidation can seem difficult, which is why a choice of loan terms can be very helpful. It determines how long you can take to pay back the loan. This allows you to pay at a pace that’s comfortable for you.