Short-term Seratum loans are extremely convenient and useful when you need a little more money quickly, but they should only be used in certain circumstances, such as emergencies and take advantage of time-limited offers that will work more expensive if you were waiting for your next paycheck.
But there are some situations where a short-term loan is not appropriate. Here are 10 things we recommend customers do not use short-term credit for:
Gambling is not a reliable way to make money. Gambling power lending is extremely risky and definitely irresponsible.
The worlds of finance and gambling share several characteristics: There can be big risks and big gains in both. They also share similar pitfalls. If you like to bet, you are probably familiar with the “gambler’s delusion” – the idea that you are betting more and more, but the elusive victory is slipping your hair. Gambling is a 100% chance with no guarantees. In the world of finance and investment, this rule also applies to “lost loss” – an investment that, no matter what happens in the future, can never be returned, even if you invest more and more …
Short-term gambling financing can never be a justifiable solution given the likely outcome. Swallow your losses and move away from the table.
While gambling is perceived negatively, investing money is generally seen as a useful and sensible way to make money. But both involve the same risks and pitfalls. In both cases, no short-term loan should be taken to invest when there is no guaranteed return. Investments usually take a long time to make a profit – much longer than a 30 day loan. A better way to raise investment funds is to save, or through a more traditional, longer-term bank loan.
Financing a life of a high standard
Media and popular personalities are responsible to today’s society. Many people strive to lead the lifestyle they see on television, magazines and online. The main difference is that a celebrity who goes to the best restaurants, nightclubs and wears the best clothes can do it because he can afford it or not have to pay for it everywhere. Taking a short-term loan to try to emulate this lifestyle can be fun in the short term, but when it comes time to pay off the loan, it’s just not worth it.
This is just one bargain if you really need it. If you don’t have the spare money to afford brand new TVs, branded clothes, or the latest smartphones, then don’t expect fast-loan companies to buy them for you.
Short term loans are great if you want to buy something that is on offer today and tomorrow will not be discounted. If you don’t have the money right now but want to take advantage of the discount, there is nothing wrong with using a quick online loan. However, you should do this if you are sure that you will be able to cover your obligations by your due date. If you use short-term credit as a means of financing your vacation because you cannot afford one, then you will soon find yourself in financial trouble and with a pretty expensive tan in the long run!
The obligation to spend money on birthday gifts can be stressful if you do not have the money. Expectations for Christmas can make many of us anxious. But if you can’t afford to buy expensive gifts, don’t borrow money to buy them. You are the ones who are left with debt. Real friends and loved ones will not care about how much you spent on them, whether you bought something cheaper, or even better, gave them something you made yourself. If you’re worried about giving something cheaper than what you get, then tell your friends and family that you won’t be spending a lot of money on gifts this year, so they don’t have to spend a lot of time choosing and of yours. Best set a limit on the maximum amount you will give for gifts and share it with others.
Signing a contract
Signing contracts for ongoing financial obligations, such as mobile phones, television or broadband, is something that should definitely not be used for a short-term loan. However, if this is a deal that will save you money in the long run, then you might consider borrowing to pay for the first month to maturity, but you should never rely on short-term lending to pay the bills you on a monthly basis. Borrowing each month to pay the same bill would lead to a cycle that can be extremely difficult to break. Only sign a contract if you are confident in your ability to pay each month.
Paying loans to family and friends
At the risk of sounding cold hearted, it is better to owe money to your family or friends than to be a lender. When taking a short-term loan, you enter into a legal contract – if you are unable to pay, an escalation may occur, which could affect your credit rating and your ability to lend in the future, and possibly even legal action. If you are having trouble paying your debts to friends or family, the consequences for your relationship may be negative, but it will most likely be much easier to determine than the consequences of not paying the lender.
Avoiding late payment or unplanned overdraft fees
Taking a short-term loan to avoid problems with your bank may seem like a good idea, but you need to do more serious research first.
Repayment of another short-term loan
Don’t take out a loan to pay off another loan. The amount you owe will never decrease and you will eventually owe even more. If you are unable to pay off your loan to a lender, call your lender immediately to discuss your options.
After all, it’s your decision to take a short-term loan and what you plan to use it for. Just remember that every type of debt has to be taken seriously and you only need to borrow it when absolutely necessary and you can commit to paying it off.
Fast Seratum loans are of two types – payday loan and installment loan. You can borrow from 50 to 2000 levs. You apply for an ID card only, approval is within a few minutes.