When time is working against you, MeLoan is working for you
There will be cases when saving up for something makes perfect sense, in fact in many cases it’s the right and sensible thing to do. Think deposit on a house, major reno’s etc. But what happens when “life happens” and for all your good spending habits and planning, you’ve hit a snag and you’re going to find it very hard to bridge a gap until normality returns? Yes, it could be a short-term illness, a change in your employment situation or even an opportunity that you just can’t say no to, but the situation remains difficult – you need a fast cash loan or even an emergency loan - it happens.
So, what to do next.
Well, we always recommend that people take a cold, hard look at their overall financial situation and ask some key questions of themselves:
- What income do I have, including sources from outside of my primary employment?
- What is the state of my savings? Also look at your capacity to keep saving beyond the here and now and into the medium term e.g. I’m putting away $540/month but with my new position, that will increase to $620/month 2 months from now. Conversely, there may be a reduction that needs to be factored in.
- What are my outgoings? This includes the usual household bills and expenses but also remember to factor in some of your other “life stuff” too. Are you a regular at the footy, are you a member of a club, does it fall you to organise regular or semi-regular events, is there an ongoing project you’re working on that accounts for a certain amount of money on a weekly, monthly or quarterly basis?
- What are the timelines? Yes, time again. Of course, if you’ve got all the time in the world because there is no urgency around any of your intended purchases, then obviously continue to save, you’re on the right track. But if not…
Conveniently, these are the sorts of questions and numbers you should be comfortable and familiar with when you’re thinking of applying for a loan of any sort because these key considerations speak directly to your capacity to service the repayments.
Now if goals have changed, timelines have been moved closer or the unexpected life stuff has thrown your plans into disarray, then working with MeLoan may very well be the timesaver/lifesaver that you’ve been hoping for.
Our simple 3-step loan application process [link to learn more] means that the 5-7 minutes you spend applying [link to apply now], results in MeLoan matching you to the best options from amongst our national database of lenders. Once a suitable lender has been identified, you can expect an indication from us as to your options. Many of our clients can expect a positive response that same day!
So, once again, if you’re saving up for something, and the time it’s going to take is not an option, maybe it is time to contact us [link to contact page] here at MeLoan.
