Finance

Published on March 13th, 2020 | by Sunit Nandi

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9 Times When 500 Dollar Loan Saves the Day

There are times when you are low on cash and then there are times when you simply need a loan. A sudden cash crunch can come anytime. You can be earning well but may not be prepared for this phase. The notoriety of this situation is known to all. However, banks do not provide such a small loan. Private lenders do provide this service. A 500 dollar loan can act as a big relief in sudden emergencies when your payday is still far.

Let us have a look at 9 moments when this loan saves the day

1. Medical emergency

Medical emergencies or illness never comes with a notice. While some need just some rest to go away, others may require a sudden diagnosis. We all know, getting an ultrasound or MRI scan done is expensive. If you happen to get into an accident, the least it will require will be stitches and a short hospital stay.

You may need to get sudden surgeries like that of appendicitis. Its symptoms are hard to figure and many do not even realize until they have excruciating pain. If your savings are not enough to meet the financial needs here, you can always get a small loan. As this loan does not put a burden on your budget, you can easily pay it off.

2. Sudden appliance breakdown

Electric appliances are unpredictable. One day they are perfectly fine and the next, they are defunct. Some need to be repaired or replaced immediately. Just imagine what if your thermostat breaks down in the middle of the winter season! You have no other option but to get it replaced as soon as possible.

Our life is so dependent on these gadgets that their absence hampers a smooth life. The problem is its cost. They are not cheap. In the absence of money back-up, replacement is a tricky part. A small loan of 500 dollars will help you in buying the appliance. You can pay it back in small installments as per your convenience.

3. College fees

Students are one of the biggest customers of 500 dollar loan. Their semester starts before their scholarship amount is debited to their account. You u can attend the college after submitting the fees but you do not have money! You know the amount will ultimately come. All you need is the fees on time. So you borrow this money, submit the fees and attend the classes. The scholarship amount comes on its designated day and pays off the loan. The timing of the amount required and its availability leads to a money crunch among students. This loan acts as a boon to them.

4. Thanksgiving

Who doesn’t love Thanksgiving? However, most people pretend as if gift exchanges, travel expenses, and food costs do not exist. A hood turkey doesn’t come cheap! Then you count on the beverages, dishes, sitting arrangements and any outing you have planned. Not to forget the gift exchanges. All this puts a burden on the home budget.

Your income is the same as the rest of the months but your expenditure is more. You secretly wish to have some amount in hand so that you can enjoy the day to the fullest. A small loan is perfect to ease you off the tension. It will allow you to make arrangements without financial constraints.

5. Rental

There are times when the house owner suddenly wants the rent or increased it without prior notice. If it is not your payday, you may not be in a position to make the payment. A 500 dollar loan will help you out here.

Also, you may need to travel somewhere suddenly. The travel cost or the rental of the car may not fit into your budget. It is better to take the loan and pay off the amount

6. Wedding

Getting married is the most beautiful feeling in the world. You know that you will be spending the rest of your life with the person you love most. What most people tend to miss is the expenses that getting married carries.

The cost of wedding dresses, chapel arrangements, car rental, decorations, reception arrangements, and honeymoon can be exhausting. While you may be saving for quite some time now, the inflation may poke a hole in the pocket. You may need a money backup. This loan saves you from going bankrupt.

7. Vacation

You only live once. A vacation may be the need of the hour to de-stress yourself. A chance to go on a world tour can come all of a sudden. Life is unpredictable. All you need to do is go with the flow. However, your salary does not come with the flow.

But you may handle the while expense with a small loan. A 500 dollar loan can help you go on that unplanned vacation with your loved ones. After all the best memories come without notice!

8. Home repair

When you own the home, you own its maintenance too. A minor repair in the wall can be mended by self but what about sudden major issues? Your home may need a sudden replacement of window sills. The doors may have got damaged in the cyclone. These sudden home repair requirements are costly.

You cannot put cheap things to make it work. You need expert repairmen and raw materials. It can be costly. It may not even be in your monthly budget. If you do not have a money backup, you should go for a small loan. It will let you get your home repaired.

9. Business investment

Your friend offered you the shares to his promising start-up. You know it is going to make big and want to invest in it. However, the amount needed is not with you. You take the loan and use this opportunity to venture into the business. It is an intelligent choice to take a loan than letting the chance goes away.

Concluding

A 500 dollar loan is the saving grace in several moments. It may sound like a small amount but several instances come in life when you desperately need it. The best way to handle this situation is to take the loan. Several private lenders offer it at reasonable terms and conditions. It is easy to even for students to repay it.

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About the Author

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I'm the leader of Techno FAQ. Also an engineering college student with immense interest in science and technology. Other interests include literature, coin collecting, gardening and photography. Always wish to live life like there's no tomorrow.



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