When You Should (Or Shouldn't) Get Emergency Holiday Loans
The holiday season is coming, and it is expensive, which means a lot of people are considering emergency holiday loans. The question is, should they be? There is a time and place for emergency holiday loans, but there are also some times when they aren't a good idea.
So, when should you get emergency holiday loans, and when should you forsake them? Well, it all depends on your situation.
When Is An Emergency Holiday Loan A Bad Idea?
The holidays tend to be expensive because people are buying a lot of presents for other people in their life. So, this would be a perfectly acceptable thing to use an emergency holiday loan for, right? Why not use a loan to cover the price of some of those gifts? Well, this is not a very good idea.
Loans can be very helpful when they are used correctly. But you should only ever borrow money to pay for things you need, and that doesn’t include gifts. It can seem like a good idea to cover those expenses with an emergency holiday loan, but ultimately, you don’t want to pay interest on things you didn’t have to.
For Things You Want But Don’t Need
After all, there’s no denying that you will ultimately pay more for something via loan than you will out of pocket. That’s not a big deal when you need a loan to cover an emergency expense that would be impossible to pay otherwise, but it’s just bad financial sense to incur debt over wants, instead of needs. So, although it may seem tempting to get a loan to fund a shopping spree, resist the urge, and use the loan at a time when an actual emergency strikes.
When Is An Emergency Holiday Loan A Good Idea?
These loans may be available specifically during the holidays, but you should treat them the same as you would any emergency loan: something you only turn to in the case of an actual emergency.
As mentioned before, you’ll probably be spending a little extra disposable income around the holidays than you would at other times of the year. This means your safety net is going to be a little tighter than usual. But just because it’s the season of joy doesn’t mean that accidents and emergencies don’t happen.
For Bills Or Car Troubles
Maybe you calculated your budget, and you have enough money to pay all your crucial bills and buy all the presents you have in mind. Everything is going perfectly when suddenly, you end up in a fender bender. Or worse, a member of the family gets hurt and has to go to the hospital.
Just like that, your holiday budget is moot: and with even less disposable income available than usual, you may find yourself in a tight financial spot. This is when an emergency holiday loan is a good idea. A loan will not only allow you to cover the unexpected expense, but it will also allow you to break it up into several smaller payments over time.
When An Emergency Holiday Loan Can Save The Day
These aspects of an emergency holiday loan can turn a financial disaster into something manageable, something you can recover from more easily. Most of all, it ensures that your holiday isn’t completely ruined by a financial emergency that you have no answer to.
So, don’t get an emergency holiday loan to cover the cost of presents or a vacation. Save it for when you’ve already bought those things, and some unexpected event drops an unforeseen expense on your lap at the worst possible time. That’s what emergency holiday loans are for.
Getting A Quick Payday Loan With Alabama Title Loans, Inc.
Ok, so now you know what an emergency holiday loan is good for and whether or not it's suitable for your situation specifically. A quick Alabama payday loan offers up to $500 in fast cash. If you are ready to secure such a loan, we here at Alabama Title Loans, Inc. have a quick and efficient process that can get you the money you need and fast.
First, fill out an online payday loan inquiry form here on our website. A representative will get in contact with you as soon as they are able, to organize a time and place to meet with you. You'll need to bring your state-issued ID (like a driver's license), your most recent pay stub, and a blank check for a checking account in your name.
The representative will verify all of your documents and determine if you qualify for the loan, as well as how much you qualify for. If you qualify, you'll have to sign a few papers. Overall, the entire process should only take about thirty minutes.
Get Your Emergency Holiday Loan Today!
Emergencies can occur at any time, even during the holidays. If this article describes your situation as a good time to get a loan, this may be just what you need! Apply today and if approved you'll receive your money either that day or the following business day. It's one of the fastest application and approval processes there is, so don't hesitate to reach out to us for your holiday needs!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.