Is Taking a Personal Loan for Shopping Justified

Is Taking a Personal Loan for
Shopping Justified?
And the Sale is LIVE!!!
Every year it is the e-commerce giants who announce the advent of festive
seasons with the best ever sales on their websites. This year also it is not an
exception. Once again the best ever online sales of the year are live. The
internet is flooded with the news of online sales such as Big Billion Days by
Flipkart, The Great Indian Sales by Amazon, Big Fashion Days by Myntra and
many more. Everything and anything you need to make the festival worth is on
sale. From the dresses to furniture and from groceries and home appliances,
everything is sold on a huge discount.

A huge number of shoppers have started surfing through the websites to find the
best deal on the items they wanted to buy. But the irony is that people don’t
only buy commodities during sales because they need it, many a time people do
shopping just because they don’t want to miss the offer. Buying new things for
home or gifting comes under the rituals of the festivals. So whether you are
shopping with a plan or you buy without a plan, you just can’t ignore the sales.
Whatever the reason behind your shopping may be, you are going to need a
good amount of money for shopping. If you have kept some extra fund
exclusively for festive shopping then you are beyond the situation called the
shortage of fund. If not then the shortage of money during the festive season is a
common situation. The impulse shopping can hurt the monthly budget a family.
To avoid situations like this, many personal finance experts advice to opt for a
small personal loan to maintain the financial balance.
An online personal loan may seem to be the best option ever to grab the
ongoing sale. Personal loans are suggested for this type of purpose as they are
fast in disbursal. You can avail a personal loan in one day if you apply for an
online loan. Online loans are always renowned for being faster in disbursal. It
takes only a few hours to get the loan disbursed. Moreover, personal loans are
collateral free and documentation free loans. Neither you have to put any of
your valuables in lien nor you need to submit the physical documents for the
loan approval. With so many added advantages, personal loans may seem to be
much appealing to us. But the question arises here-
Whether Taking a Personal Loan for Shopping Justified?
Well, the answer depends on the situation which you are in. As persons and
personality differ so as their situations. A loan for shopping is justified or not
depends on the commodities you are purchasing as well as the need for it.

One can avail a loan without a second thought to have a shopping during sales
if the items you are buying were preplanned or needed. One can surely take a
loan if you are buying necessary items like furniture for the home, kitchen
appliances or a computer which is needed for your job or studies. A personal
loan can be a great way to finance your shopping if the things which you are
buying are a need and not a want. If you can save near about 50% of the product
price by purchasing those needful items now, then it is better to avail a personal
loan have them during the sale.
The next situation where your shopping cart is full of dresses, shoes, an extra set
of cutlery or linen, an advanced television etc then a personal loan is not
recommended. The deals are certain to tempt the masses but keeping yourself
away from those temptations is very important. Whether it may be a festival or
it may be a sale, a purchase decision should be taken only if it is a need. A
personal loan for purchasing those luxury items is a big ‘NO’.
The year-long wait for the festivals is about to come to an end. The festivals are
still on the way whilst the sales have reached our doorsteps. The festive season
sales are undoubtedly the best sales of the year as you can get the maximum
discount here. But the thing to be concerned is that your wish list should contain
only the items which are the need of your or your family.