Shop N Hop With Personal Loans

Written By jeremy hunk on Sunday, October 7, 2007 | 7:30 PM

Shopping has long been associated with women. But, this cannot be construed to mean that men do not shop. The shopping interests might differ between the two sexes. Women like to spend more on cosmetics, dresses and similar other things whereas men are always fascinated by the expensive and latest electronic gadgets.

If you are a compulsive shopper, just make it sure that you do not fund all your purchasing with expensive credit cards. Credit cards and store cards seem very convenient to use but they are expensive like anything. You should learn to control your spending through these cards if you want to spend judiciously.

Credit card companies charge you interest rates in the range of 2-3 per cent per month. In comparison, personal loans are available at around 6-7 per cent APR. You might end up paying much more even if you are in the habit of clearing your credit card bills within 3-4 months. Sometimes women spend much more to maintain their love for pompous and swanky lifestyle. They would do well to fund their purchasing with personal loans instead of using credit cards.

Plan your shopping sprees

Credit cards are useful when you want to purchase something at the spur of the moment and you do not have cash at that point of time. Such situations are ideally covered by credit cards. But, you can also plan your shopping and take personal loans for that purpose. This will help you in saving a lot of money. This approach seems more reasonable especially when you are planning for a big event like wedding, festival shopping, New Year’s Eve, Christmas, etc.

Shop for personal loans

Even in case of personal loans, you have to be cautious of the rate of interest being charged by the lender. Try to grab a low cost deal by checking out with several lenders.

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