Each and every day is bringing in a new uncertainty about Covid-19 pandemic. As it continues to ravage the world – When will it be finally over, will the second wave of infections be deadlier, will the recession be even worse? – These and many other questions are looming over entire mankind. Singaporeans are no exception! While we are slowly exiting Circuitbreaker and resuming routine life, there are challenges like unpaid leaves, pay cuts, salary freezes, job losses, business closures to disturb our peace of mind. In this #newnormal, we are not sure about how finances will work in our favor.
During this period, managing personal finances is difficult. The easiest alternative to support dwindling finances is to take loans. But from whom to take loans? Are we doing it correctly? To take disadvantage of our confusion and weakened state of mind, unlicensed money lenders and scammers are always on the prowl. Do you receive random messages asking you to take loans now a days? I get at least 2-3 messages every day from unknown numbers asking me to take personal loans.
It’s extremely necessary that we are extra careful when it comes to personal loans and that’s why I have always relied on Moneysmart’s Personal Loans resources.
Let me list down the reasons why I refer to Moneysmart’s Personal Loans resources:
- Moneysmart has an amazing collection of information on their site that makes understanding the nitty-gritty of Personal Loans very easy even for a layperson. Click here to know what is the difference between taking Personal Loans From Licensed Moneylenders vs Borrowing From Banks. I personally believe that personal loans act as a much needed cushion to soften the impact of Covid-19 and resulting job and business challenges. However, when it comes to taking personal loans, we have to ensure that we are taking personal loans from trusted sources.
- I learnt from Moneysmart that rather than taking loans from multiple places and mounting our credit card bills, we can opt for a debt consolidation plan which is a simple repayment scheme that allows you to bring together all of your outstanding unsecured debt into one big loan with just one bank. I have opted for this before and it just makes repayment and debt management very straightforward.
- Another useful online feature that I tried recently on Moneysmart is the comparison between the interest rates offered by various banks. It also lets you apply online instantly which I found quite handy. Check it out here and am sure it will really make it convenient for you to zero in on the right personal loan option for your requirements.
- Last but not the least, Moneysmart’s website provides smooth navigation, searches and clear information. I have been using it for quite a few years for my financial decision-making.
Covid-19 has presented itself as an unprecedented situation and the threats that it has posed are not easy to counter. With the right tools like Moneysmart, we can always find viable options of personal loans to ease the financial burden the right way! Stay safe, stay financially healthy.
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