How to Use a Personal Loan this Summer
Summer is a time for fun and excitement, but it can also be super expensive. Summertime can be a season of major life changes like household moves and weddings!
Before you start swiping the plastic for everything under the sun, Rio Grande Credit Union recommends considering a personal loan to stay within your budget.
At, Rio Grande Credit Union, the application process is smooth and quick, and - as a member - you don’t need flawless credit to qualify for a great rate. When you use a personal loan instead of racking up credit card debt, you are making a responsible choice that can positively impact your finances for years to come.
To help you accomplish this, we have outlined some ways to responsibly use a personal loan this summer.
Getting married
According to Brides.com, the average wedding can cost more than $44,000. That’s a whole lot of money you may not have sitting around.
If you’re tying the knot this summer, consider taking out a personal loan to help cover your wedding costs. Use your loan to fund the larger expenses, such as your rings, wedding dress and venue, or to cover the smaller costs like the flowers, travel arrangements and photographer.
Moving to new home
Since the kids are out of school, summer is the most popular time of year for household moves. Whether you’re moving a few blocks or a few states away, moving costs can be prohibitive. You’ll need to consider the expense of moving supplies; paying the mover; plus the cost of new furniture and other household items to help turn your new residence into a home. Taking out a personal loan to help you cover these expenses can make a household move a lot less stressful.
Consolidating debt
Summer is all about freedom and what better way to feel free than getting rid of that nagging credit card and student loan debt?
Paying off multiple loans and credit card bills each month can make you feel like you’re fighting an uphill battle thanks to skyrocketing interest rates. Wouldn’t life be simpler if you only had one debt with a nominal interest rate? A personal loan can make that happen.
A personal loan can be used to pay off all your credit card and other outstanding debt, and with a single loan to pay off with a manageable interest rate, you’ll be able to make steady progress toward living a debt-free life.
Renovating your home
When the weather warms up, homeowners want to upgrade their homes. Whether it’s installing a swimming pool, giving your kitchen a complete makeover or turning your garage into a guest suite this summer, a personal loan can make it possible. Personal loans may be a better option for homeowners who don’t have a great deal of equity in their homes and consequently would not be a good candidate for a fixed Home Equity Loan, or a HELOC.
RGCU Personal Loans
Stop by Rio Grande Credit Union or give us a call at to ask how you can get started on your personal loan application. We’re always here to help make your summer dreams come true.