How to make your affordable loan even more affordable
“Hey congrats! Well done on getting that loan you were after and we can’t wait to see your holiday/new car/festival/reno/fashion/fitness pics”.
That’s the response that captures the upside of a successful loan application. Pretty much umbrella drinks, cruising around town, cool music and events, stuff for the house, stuff for you and stuff that keeps you looking and feeling great. But there’s another side to all of that.
Once you’ve had the fun or the works been done, it’s time to pay the piper. In this case, “piper” means your lender. Which is fine. You knew what you were getting into, it’s turning out to be exactly what you signed up for so, all you have to do is continue to make those repayments for the term of your loan. And that’s all well and good. Yes, there’s some belt tightening and perhaps some low level anxiety, stress and a dollop of FOMO but there are also some easy ways to lessen the burden (no matter how light or heavy it feels).
Rather than taking the machete to your discretionary spend budget and living the monk life for the term of your loan, the name of the game might just be “adjustments”. Yes, adjustments speak more to maintaining but moderating your lifestyle without having to make wholesale changes. Afterall, you secured a loan to enhance your lifestyle, not simply create a “moment” and then suffer for it later.
Here are 3 ways to make your repayments – even easier
It’s a simple list that’s more of a thought-starter than an instructional. The aim here is to get you thinking, in some detail, about some of the places you are always, putting your money and asking yourself, “could I comfortably modify that spending and what if I did?”
It’s funny, oftentimes there is a sense that you can afford the repayments on your cash loan but because it might be rare that you take a look beneath the surface of your finances, it may not be obvious as to how. There may be a reliance on “gut feel” (“I’m doing alright, shouldn’t be a problem) and sure enough, whilst filling out your online application, it’s plain to see that all is well. However, what we often miss is how much easier our repayments schedule could be if we made some modifications to our lifestyle.
For us, here at MeLoan, it’s all about looking at and understanding your bigger picture and making it work for you.
With years of experience under our belt, we can provide some tips & tricks to help you save