Christmas is one of the most expensive times of the year! An online Christmas loan gives you the extra funds to make Christmas the most wonderful time of the year.
The holiday season is upon us – outdoor Christmas decorations lighting up the city streets, shops filled with presents, and a Christmas market making us feel like we are in Wonderland! Isn’t Christmas the most wonderful time of the year!?
Christmas brings a lot of joy, cozy time with family and of course many gifts … especially for the young ones. The excitement of decorating the Christmas tree and writing a long wish list to Santa keeps the children excited (and somewhat less mischievous) in December. However, it’s not quite the same when you’re an adult and it seems that the joyful excitement around Christmas is most often replaces with feelings of anxiety and financial worries.
Organizing Christmas celebrations, having friends and family over for dinner, buying presents for everyone can be very stressful and challenging and you can easily end up breaking the bank. Shopping in the midst of the holiday season makes us think about our personal finances and if we can at all afford the items on the wish list.
Many people start preparing for the Christmas holidays as soon as the summer is over. Putting aside enough money is easy for some people especially if they plan on a small Christmas celebration. However, if you plan on having a big Christmas dinner and you haven’t bought the presents by Black Friday your options might be limited.
So, what can you do if your expenses exceed your budget? One of the solutions is taking out a Christmas payday loan. Even though it may seem controversial to take a payday loan to celebrate a holiday, there are actually many benefits. It’ll give you the opportunity to enjoy Christmas, buy the long-awaited presents for your children and family and create new memories around the Christmas tree. When the holidays are over and your monthly spending is back to normal, you can easily pay off the loan in no time.
A payday loan will give you the freedom to purchase everything you need for a joyful and merry Christmas. It will lift the financial stress burden off your shoulders. Getting an online payday loan for Christmas is just as easy as it is during the whole year. You go to the lender’s website; choose the amount you would like to borrow and the term of the loan. After that you fill out your information and send your application. You will receive an answer to your application shortly after.
Even though the process of borrowing money online is incredibly easy, we advise you to borrow money responsibly. Borrow only the amount you need. Determine a term of the loan you are comfortable with and that can easily be covered by your monthly income. Always make sure to pay off the loan on the stipulated payoff date.
Before applying for a payday loan, it’s always a good idea to use some time and compare offers from different lenders. Some lenders offer loans with 0% interest. Such offers sound like the perfect solution to any emergency situation, however, interest rates aren’t the ultimate comparison variable.
Instead, you should pay attention to the annual percentage rate (APR). Many people misunderstand APR because they think it only applies to long – term loans. The truth is APR gives you the exact cost of your payday loan – including interest and fees, which makes APR the best index to use for comparison between two or more loan options. A good thing to remember is that when comparing loans, you always have to base the comparison on the same amount and repayment terms.
We also advise you to carefully consider your repayment term options. It’s true that the faster you repay your payday loan, the less you have to pay back to the lender in fees. However, it may be a better idea to choose a longer repayment term with a down payment amount you’re certain you can afford every month. Accepting a payday loan offer that requires a high down payment sum may result in you having to take a new loan to pay off the current one or having to pay punishment fees.
It’s important to identify what type of online loan fits your needs best. The most popular online loans on the market are payday loan, short term loan and personal loan. They differ in the amount that you can borrow and the term of the loan.
A payday loan is a loan that allow you to borrow a smaller amount of money which you can return upon your next paycheck. This type of loan is ideal if you plan on a small Christmas celebration with your family and you would like to make their evening unforgettable.
Short-term loan is a good choice if you need to borrow a lump sum of money that you can pay off over a short time period – 2 to 3 months. If you are planning on a bigger Christmas celebration this is all the financial help you will ever need.
Personal loan is a loan that allows for larger sums of money to be borrowed and has a longer term than most of the other online loans. If you have decided to gift your partner or family a very special and merry Christmas, a personal loan may be a good choice for you. Personal loans for Christmas are perfect for booking an exotic vacation and spending Christmas on the beach with a cocktail in your hand. Or, you can book a trip to a snowy destination like the Alpes and spend the holidays skiing down the slopes and drinking mulled wine.
Once you choose the type of loan that fits your needs best, we advise you to use a loan comparison platform like Moneezy. This will let you compare different online loan offers fast and easy. It’s a good idea to apply for an online loan in good time before Christmas. This will give you the freedom to do all your Christmas shopping early and enjoy the Christmas holidays to the fullest.
For the past year, more than half (55 percent) of the loans taken were for amounts of $500 or less. Three-quarters of the payday loans were taken out for the amount of $1,000 or less. Source: The Government of Canada