Summer Cash Loans: Know Where to Draw the Line
Summer has officially arrived, and with it, the need to travel, entertain, and squeeze every last bit of fun out of the season. The past two years have been hard on everyone, and this summer feels like the first time you can let your hair down.
If you’re desperate to make up for lost time, anything standing in between you and a fantastic summer may feel like an emergency.
Should you take out an emergency cash loan to make the most of the season?
If you aren’t sure what to think, keep scrolling to find out when fast cash loans online might fit into your finances — and when they don’t.
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3 Times Borrowing Might Work
Millions of people borrow short term personal loans every day to help them stretch their budget in emergencies like the ones below.
1. Repairing Your AC
Summer without AC can be a genuine risk if you deal with triple-digit temps, humidity, pollution, and allergies. Seniors and ill people may need to repair a faulty AC right away, even if they don’t have the savings to afford the fix.
If you rely on AC for health reasons, this might be a time when you consider fast cash loans this summer.
2. Fixing Surprise Car Issues
School might be out for summer, but you still have to work. If the car you rely on to get to the office everyday breaks down out of the blue, you have to get it back on the road.
Sure, a repair costs money, but you’ll lose more money if you can’t show up to work. While you should budget for monthly maintenance, fast cash can fill in the gaps if you fall short.
3. Treating an Unexpected Illness
Nobody wants to catch a cold or hurt themselves during the summer, but it happens. You might contract a painful sinus infection or twist your ankle while hiking. With the cost of healthcare rising, you may need some extra help covering treatment and medication — whether you’re covering a deductible or paying out of pocket.
3 Times You Shouldn’t Borrow
There’s a time and place to borrow responsibly — here are some examples of when the stars don’t align this summer.
1. Going on Vacation
Ads for vacation loans are at their height in the summer, as the warm weather entices people to get away—even if they don’t have the budget for a trip. If you need to borrow money to afford flights, accommodations, or a rental car, you can’t afford it. Borrowing only delays these costs after adding fees and interest.
2. Landscaping Your Backyard
For those staycationers looking to catch some rays in their backyard, investing in their property may be another reason to borrow. However, the fast cash loans you find online are for emergencies—not cosmetic upgrades. Other financial products and savings are designed for these investments.
3. Buying a Wedding Gift
Now that restrictions are gone, the wedding boom could mean you have several weddings to attend as a guest or wedding party member.
Between clothes, bachelor(ette) parties, and gifts, things add up. About 20 percent of people go into debt to attend someone else’s wedding. Don’t join these numbers. Remember, fast cash loans are for emergencies only. Instead, learn how to RSVP no when plans exceed your limits.
Bottom Line:
While these tips were designed for summer loans, the lessons you’ve learned are timeless. Apply them any time you’re thinking about borrowing money — they’ll help you make the right decisions.
