What can I buy with a small personal loan?
If you need cash in a hurry and you’re looking to borrow money, there are plenty of finance options to choose from, and a small personal loan is one of them. These types of loans are extremely versatile because the funds can be used for many different purposes.
A small personal loan is a credit product offered by banks, credit unions, and other lenders to individuals who are looking to borrow money with reasonable repayment terms. These cash loans are usually available up to $5,000, and you can use the funds to buy a variety of things once the loan is approved. What can you use the money for? Here are some of the common reasons why people take up a fast cash loan.
Home improvements
As life goes on, our needs change, and that includes the desire to improve our home. If you have a DIY bent, with some careful planning $5,000 can go a long way - so if you want to update your bathroom or even your kitchen, a small personal loan can help you to do just that. You can save heaps of money by refreshing old tiles with a coat of paint rather than retiling, and cabinetry can be quickly updated with new paint and handles. These days you can even get products that will make your existing bench and vanity tops look like marble, or you can go all out and update with a granite benchtop (it won’t blow the budget if you save on some of the other stuff).
New appliances
No matter how good you are in maintaining and taking care of your trusty old appliance, eventually they’ll need to be replaced. A small personal loan is just the ticket when it comes to buying a new washing machine, one of those fancy French door fridge/freezers or even the latest HD curved TV with surround sound.
Personal events and celebrations
One-off events such as a wedding, a birthday party, anniversary, or even a funeral can be pricey (and in some cases, unexpected). Getting your hands on some quick cash from a small personal loan can help you pay for that special event or go towards covering the cost of a funeral. And if you’re celebrating a happy event, you can use your personal loan funds to pay for the caterer, florist, photographer and/or venue (depending on how lavish your plans are!). You can even buy give-aways, so your guests have something to remember the awesome time they had at your event.
Your health
Everyone gets sick from time to time, and of course, it always happens when you’re least expecting it. Getting sick can be expensive, particularly if you need elective surgery but don’t want to wait for years for the public hospital system to accommodate you. A small personal loan can be sufficient to cover your expenses through a private specialist.
Holiday
OK so the coronavirus may have put the stoppers on the travel plans for many of us at the moment, and while we don’t recommend a trip to China any time soon, there are plenty of places that are safe to visit for a holiday. If you want to whisk the family away for a little down time, your small personal loan will easily get a family of 4 a lovely week long break at any of Australia’s amazing locations or even NZ or the Pacific Islands.
This and that
Car expenses, moving costs, new furniture, vet bills, computers, mobile phones, education costs, work tools, sports equipment etc - the list of things you can buy with your small personal loan is endless. If you don’t have enough cash available, the funds from a loan can help you bring any of these things home!
Applying for a small personal loan
There are so many things you can use a small personal loan for. If you’ve decided that you need some of these things immediately, we’re here to help. Just check out our flexible cash loans from $1,000 to find out how quick and easy it is to get your hands on some extra funds. Once a loan is approved, we can usually deposit the cash into your bank account within a few hours. To get you started, why not calculate how much your repayments might be here. Then, if you’d like to go ahead, just complete your application online (it only takes a few minutes) and hit submit. Once we've received your application, we’ll be back in touch with a decision – in most cases, we can approve your loan request on the same day.