Christmas is the time of year that most of us look forward to with great excitement and anticipation, but it can be the most expensive time of the year too. According to Roy Morgan, us Aussies were expected to spend a whopping $52.7 billion during the Christmas trading period that ended a little over a month ago. Of course, Christmas down under also coincides with the summer break, so many people have the added expense of a summer holiday in addition to forking out for all of those Christmas gifts and celebrations.
Statistics from Finder show that for Christmas 2019, the average Aussie spent $471 on travel alone and $386 on Christmas presents, not to mention other expenses such as food, taxis and parties. Overall, the average household spend last Christmas was $969 (although if you live in NSW you probably dropped roughly double what your South Australian cousins spent).
The Finder report also reveals that 5.4 million of us relied on the old credit card to see us through the Christmas period, with one in four Aussies not having enough cash to cover the holiday season.
The after-effects of this can be financially distressing, and we know that catching up with your finances at this time of year can be a struggle. But if you’ve got the post-Christmas financial blues, here’s how a fast cash loan could help you out.
What is a fast cash loan?
A fast cash loan is a small personal loan that is generally easy to apply for, with a fast approval process so you receive funds quickly and directly to your bank account. Because they are typically fast to process, you get the funds at exactly the right time that you need them.
These are short-term loans of up to $5,000 that are usually payable within 5 to 10 months (or shorter if you prefer higher repayments). These types of loans are becoming increasingly popular in Australia because they are so simple, fast and flexible.
What are the repayments?
Obviously the loan repayments depend on the loan provider, the amount borrowed and the term of the loan. For a Safe Financial mini loan, you can quickly calculate your loan repayments here.
How it works
One of the most significant features of fast cash loans is that the application process is really simple and easy. Fast cash loans providers such as Safe Financial have a web-based application procedure that is available 24/7 - so you can submit your application online any time, making the service more efficient and convenient.
There are a few specifics that we need from you when applying including, but not limited to, your personal, occupancy and bank details, as well as proof of your income etc.
Once we have that, we’ll start working on your application immediately and you can usually expect a decision within a few business hours - and if approved, the cash will hit your bank account on the same day in most situations. What a perfect solution for those post-Christmas debts! And, even if you’ve had a bad credit rating in the past, we may still be able to provide you with a loan if you can demonstrate a regular and stable income.
What can you use it for?
The funds that you can get from a fast cash loan can be used in many ways, not just to pay off Christmas debt. How you use the money is completely up to you – urgent or unplanned expenses, consolidating debt, a little summer holiday after the chaos of Christmas or a down payment on a car - the options are endless.
Whilst our clients have many reasons for taking out a fast cash loan, some of the common reasons are:
Consolidating debt – this is a very common reason, particularly at this time of year as it enables our clients to effectively combine multiple outstanding balances, due dates for payment and interest rates into one regular payment. This makes it easier to pay off your debt with fixed, regular payments so you don’t end up getting overwhelmed.
Financing a large purchase – it’s Murphy’s Law that the fridge or the washing machine breaks down right when you need it most, and usually when you can least afford to replace it. Whether it’s a breakdown or just time for an update, a cash loan can help you replace that large appliance when you want to.
Vehicle repairs or servicing – no doubt about it, servicing or repairing a motor vehicle can be a costly exercise and it’s something that many of us keep putting off because the budget simply can’t stretch that far. Or, maybe the rego is due, and you find yourself a little short on funds. No problem - a fast cash loan to the rescue!
Home remodelling – with a little ingenuity, a few thousand bucks can make the world of difference to your home, so if it’s time for a bit of a make-over, a fast cash loan is your renovation buddy!
Emergencies – from funeral expenses, urgent travel or unexpected medical expenses that aren’t covered by Medicare, a fast cash loan can take the anxiety out of an already stressful situation.
Need a cash loan fast? It’s super easy - jump online now, complete your application (it only takes a few minutes) and hit submit! Then, we’ll be back in touch with a decision, quick smart!