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There are many reasons for choosing a short term loan. Whether you need to cover some unexpected bills just before payday or have an emergency situation arise, finding a responsible lender is the best way to stay money savvy.
What is the nation spending on?
MYJAR have created an infographic which details where many of us are spending our money. Whether it’s on necessities like fresh food and petrol, or more social activities like partying or going out, it doesn’t take long for many of us to find ourselves way over budget.
What happens in the case of an unexpected breakdown or bill? Rather than being left in the lurch, it may be a good idea to look into finding a short term loan to tide us over until payday.
Choosing a short term loan
With so many loan products on the market it can be easy to become overwhelmed.
However, with a little bit of research even the most complete financial novice can become confident overnight. The most important thing to keep in mind is that even though short term loans give you quick access to your funds, any money you borrow will always need to be repaid in full.
Whilst there are multitudes of product options available on the market, always opt for lenders like MYJAR which spell out their loan terms clearly and comprehensively. Choosing companies who make the whole deal clear and simple means that you will understand the terms and costs right at the outset.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
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