3 Reasons Why Making Purchases on Installments and Loans Can Help Your Personal Finances

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One rule does not fit all! It is the prime reason we keep putting out varied financial advice for our readers. While the popular financial advice is to only buy things one can afford with a single pay-check, here’s why we believe making purchases on instalments and loans can be beneficial for some:

It Removes the Lack-Mindset

Sticking to a budget and focusing on savings too much can be harmful to your mental health. It can give birth to what the spiritual gurus call a ‘lack mindset.’ 

This mindset means that you come to believe that you can never afford something that costs more than you can presently afford. Since all the good things in life cost a little more than an average person can afford in their day-to-day life, only making cash purchases from the month’s salary can lead to a depressive state of mind in the long run.

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However, making purchases on instalments and through loans can help combat it. It can help you believe you can afford good things. Choosing to pay on instalments or signing up for a loan can also instill confidence that your future self will pay it off. Buy quads on finance to treat yourself for your adventure ride.

It Lets You Budget

Instalments and loans can be modified to be paid as per your income and your monthly budget. You can compensate only a fraction more in your monthly budget to make room for and enjoy the good things you need. 

Taking personal loans that give you an instant decision can make you stick to your monthly budget even more tightly. Instead of wasting small amounts of money to feel rich through unwanted things, you can budget the same amount towards things and experiences that cost more and would bring lasting joy to you. 

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It Allows You to Make Quality Purchases

We don’t suggest eating unnecessarily expensive ice cream or buying seasonal, low-quality clothes on instalments. We suggest that you make expensive, necessary purchases through instalments and payday loans online. Use this financial advice to bring value to your everyday life. 

Quality purchases can mean buying the necessary equipment for your business that would help you earn more. Equipment, especially tech equipment, can be expensive, and it can be challenging to save up for them to buy them through a one-time payment. 

However, they can open various doors for you to earn through them and bring a lot of value to your      skills and freelance work. Quality purchases can also mean taking a much-needed vacation that will help you feel refreshed. You can also get a new mattress by instalment or through loan and other essentials at home that will improve your health and your home life. 

While it might be scary to promise to pay money that you haven’t earned yet, there are various options of spending it at places that can prove to be meaningful and beneficial or even profitable for you in the long run. You don’t have to live a small or limited life if you don’t want to live one! You can create a personal financial template and only follow the financial advice that suits you and your lifestyle!

Philip Okoye
the authorPhilip Okoye
Your favorite recipe author, faithful to every course. Mail me at

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