We all get in tough financial positions sometimes. And once you’re an adult, it’s a little harder to call up your parents for a loan than it used to be. There’s nothing worse than being in a financial pinch during a special holiday season.
Short term loans are the types of loans that must be paid back within 12 months. One of the reasons why they’re so popular is because they require either a small amount of collateral, or no collateral at all.
Another reason why a short term loan can often be a good choice is because they’re one of the most versatile options available. Some loans can only be used for some purposes, however short-term loans are usually free of any strings, and can be used for a variety of situations.
One of the biggest concerns for many people with bad credit, is whether they’ll be able to get a loan at all. But it is possible to get short term loans bad credit, which will be a relief to people who have a poor credit history. 
Many people will get a short term loan in order to settle their most urgent bills. This makes these types of loans perfect if your car breaks down, you need to take the kids to the doctor, or you have another type of emergency. The application process is also remarkably easy for a short term loan. And you can even apply only, within just a couple of minutes. You could potentially apply for your loan and have the funds ready to go in your account in just 10 minutes.
A great example of how you can use a short term loan is if you accidentally forget to set aside money for a special occasion, such as Christmas or Mother’s day. While they say it’s the thought that counts, for many of us, holidays are a special time of year when we want to show friends and family how much we care about them. While I’d never suggest putting yourself in financial strife to buy a gift, taking out a short term loan to help you have a little more money for a thoughtful gift can be a worthwhile decision. Make sure you can afford the repayments before you apply for one, but short term loans can be a real lifesaver when we forget to budget properly for holiday gifts!
Interested in learning a bit more about what kind of gift people like to buy for specific occasions? Swift Money has made this great infographic that discusses occasional spending, check it out below!
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