Short term loans are often just thought of as an expensive way of borrowing money when you are desperate.  It is often perceived that they should be used as a last resort and that you will pay the price for the convenience. However, used in the right way, short term loans can in fact save you money. How? I hear you ask, especially with such extortionate interest rates?

Many of us have found ourselves in a position where our finances have got out of hand. It could be that you haven’t been keeping track of what has been spent and now you are over your overdraft limit or that payment you kept putting off until tomorrow is now officially late, it can happen all too easily. Although it may not be the end of the world, the costs can quickly start adding up. Even if you were fortunate enough to have an interest free overdraft, you would have to pay a fixed fee should you flout that.  Not only that, but in some cases, were you not able to resolve the over spend, the bank withholds the right to withdraw the overdraft facility meaning you would have to find a way to pay that money back also.

Millions and millions of us rely on our cars daily. We seem to have this love hate relationship with them. When things are going well, you’ve passed the MOT with flying colours, you’ve paid to have the full service and such like, she’s a beauty! Things can change all too quickly though, it only takes one little thing to go wrong and before you know it, she’s in the garage, pulled apart and you have an unexpected £500 bill to get it repaired.

Cars can cost enough money at the best of times when you take in to account the forever rising cost of petrol and diesel, road tax each year, not mentioning the extortionate price of insurance. Although public transport is improving all the time you can’t beat the convenience of having your own transport and somehow people always try to foot the bill for this privilege.