Personal loans are often used to consolidate high-interest debt or finance large, one-time purchases. But they can also be handy for managing day-to-day expenses during an emergency when your income has dropped or you don’t have cash savings to rely on. But there are a few things to know before applying for a personal loan to make sure it’s the right move.
Is getting a personal loan during a financial crisis a good idea?
There are some pros and cons associated with getting a personal loan during a financial emergency.
On the pro side, it may be cheaper to get a personal loan than charging expenses to a credit card. If you can lock in a low, fixed-interest rate on a personal loan, that may be preferable to the higher variable interest rate that