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How to Get a Personal Loan

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From Quick Guide: Guide to Personal Loans

Summary: When getting a personal loan, figure out how much money is needed, look at all options and have an end date to the payment. Get a personal loan without being talked into a credit card by following advice from a financial consultant in this free video on personal finance and loans.

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By Carrie Kukuda
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Carrie Kukuda has a business administration degree, and was branch manager of a community bank. Kukuda owns a consulting business for one-on-one credit education & budget/debt...read more

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Video Transcript

"Your big day is coming up and you need a little extra money. Hi I'm Carrie Kukuda the Someday Coach. I'm going to kind of give you a little bit of an idea of how to getting a personal loan. First I would definitely figure out how much you truly need. A lot of times you end up getting too much and then you spend it and then it's gone and now you are going to owe this money. So make sure that you decide first how much money you truly can live with and how much you need to actually take out. Next I would consider if you ever, if you looked at all your options, like is the personal loan the way to go. Sometimes the interest is a little higher, have you looked at some other options that you might want to consider before taking out a personal loan. You also want to shop around, everybody's terms for the lenders are different. You know you can shop, you know online search engines that you're on right now. And you can also go to your financial institutions, any of them as well as your own for the personal loans and sometimes you may get a little better rate with somebody that knows you because they know you already know how to manage your money. You want to stay away from something to think about is you want to stay away from them trying to talk you into, sometimes you'll find that they'll try to talk you into a credit card or some other form of way of investing that maybe not in your best interest, and it might be costly to you. Then my idea of getting a personal loan is that you want to know how much you need, have a fixed rate on it, and have an end date to that payment so just something to keep in mind when you are looking to get a personal loan. Again Carrie Kukuda thank you."

eHow Article: How to Get a Personal Loan

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