In the current climate, so many people are worried about their finances and it is easy to see why a lack of money gets people down. Not having money isn’t just an issue of finance and money, it can very quickly impact on your confidence, your mental health and how you engage with other people. This means not having money or being unable to pay your bills can have a hugely detrimental impact on your life.

When it comes to taking control of your finances, you need to be honest and open with yourself. There is no point in looking at your finances and hoping for the best. If you receive an unexpected bill and you are caught short one month, it is understandable to opt for a quick solution and then plan to get back on track the following month. However, if you are struggling every month and you don’t have the funds to take care of everything that you want to do, you need to make changes.

Are you asking do I need a loan?

In the latter situation, the question of do I need a loan is answered with a no. However, in the first scenario, the question of do I need a loan can be answered with a yes or perhaps a maybe. Everyone is different and no two situations or scenarios are alike, which means it is impossible to provide guidance or an outline for you to follow. However, if you are asking do I need a loan, there are some follow-up questions you need to ask yourself, like:

• How much of a loan do I need?
• How much money can I afford to pay back every month?
• What is my credit score?
• What loan provider is best for my needs?

These are all important questions to answer and by taking the time to ask them, and answer them, you’ll find that you soon know a lot more about yourself in the process. There is a need for honesty when you ask yourself do I need a loan and as long as you are honest with your answers, you’ll find it a lot easier to move forward.

In the scenario where you are short of money one month, a guarantor loan may be exactly what you need. This is because this money will help you get back on track while taking care of the short term issues. This isn’t a long term solution but when you need a helping hand, a guarantor is likely to be of benefit to you.