Christmas is the time when the whole family sits at one table. They are usually full of magic, joy and Christmas carols filling almost every home. Preparing for holidays, however, is time consuming. Preparing dishes, baking cakes, Christmas cleaning, preparing presents and decorating the tree – it all takes time. Holidays are also associated with additional, considerable expenses. Not all families can afford Christmas from the current budget. Where to get the money Is a loan for the holidays a reasonable solution?
Joyful moments with the family – the magic of Christmas
Only a few people work at Christmas. Most of us have free time and are happy to spend time with loved ones – family, friends and acquaintances. Daily worries and responsibilities go to the background for a while. We enjoy the holiday atmosphere.
Christmas is primarily associated with gifts, a Christmas tree, decorations and tasty traditional dishes. All these elements affect the festive nature of the holidays. Both children and adults are joyful and willingly sing carols.
Children can carefree enjoy Christmas. Unfortunately, adults can’t always afford it. In December, the household budget is always “tarnished”. In addition, the vision of the upcoming New Year’s Eve ball and winter holidays for children requires minimizing expenses. It is difficult to deny yourself the pleasures of Christmas once a year. It is no wonder then, that families who cannot afford to prepare for Christmas, reach for non-bank loans. In the face of the growing list of expenses, this may be the most reasonable solution, especially since many loan companies prepare special, attractive non-bank loan offers during the holiday season. Is it worth using them? Is it just advertising and a way to find new customers?
A recently published Deloitte report indicates that in 2018 a statistical family will spend nearly $ 1,200 on Christmas shopping (exactly $ 1,168). This amount is increasing every year. Every year, however, the fact remains that most of this sum is to be spent on Christmas presents.
As the president of BIG InfoMonitor Sławomir Grzelczak notes, during the holiday season one can observe an increased interest in loans and credits: The problem of excessive debt is characteristic for the holiday season. Encouraging advertising, new products, the need to buy gifts – these are often motivating factors to want goods that we cannot always afford. Then the only chance to buy them becomes taking a loan or non-bank loan, which repayment due to the amount or too much value becomes a burden on the household budget . Our financial situation may not always be as good as it is today. Although it is normal to take out loans, you should do it wisely after assessing your debt repayment options within the time allowed .
Quick short-term loan or long-term installment loan?
The loan companies offer includes two basic products. These are quick short-term loans (commonly called payday loans) and long-term installment loans.
In the case of short-term loans, the repayment period is usually 30 days. Some loan companies offer the option of repaying liabilities within 15, 45 or 60 days. Often these types of loans are completely free. However, it is necessary to pay back the entire debt on time. As a rule, quick payday loans provide little financial support – up to a maximum of $ 5,000.
A long-term installment loan is for people who need more cash for a longer period. Even a dozen or tens of thousands spread over 2 – 4 years. This solution is less burdensome for the household budget compared to a quick payday payday loan. However, the monthly installment should be matched to the household’s financial capacity. Each loan company has a calculator that allows you to calculate the total cost of the loan and the total amount to be repaid.