The time we needed a personal loan badly - some good advice

Don't we all consider a personal loan one time or another? Or maybe it's just us?
But this year has been one of those years...

We first tried to get a student loan, but were caught in the catch-22 of a student loan. You first have to show your registration form from university before the student loan can be approved. We wanted to get the loan to be able to afford that first hefty registration fee...

We also had the wonderful holiday in San Antonio earlier, and we were really worried that we would not be able to afford everything that goes with a holiday with our Rand/Dollar exchange rates! I also shared this scenario before we went on our trip, and that we were seriously considering taking a personal loan...

I am glad to say that both times we were able to get by without going the route of a personal loan!
Because it is still the best way to go! Not getting that personal loan!


But if there are no other options available, there are 5 ways to use personal loans wisely that is worth exploring!

Catch-22 of a student loan

The Student and I was at the bank this week to try to get a student loan...

What a joke! I could have said "process", but it really feels like baring your underpants, and then after the scrutiny you are left without that same said underpants!

It takes ages for the "process" to complete...
And then you don't have a guarantee they are going to approve the loan.

There were two bank employees going through all our documents, and we still did not have the "right" documents! All the university documents should have a date stamp of 2015, although The Student has a letter of approval for her post-graduate diploma. Apparently we also lacked some more documents from the university, which she would not be able to get at this time in the year...

The bank wants proof of registration from the university! Which we don't have!
(That's what we are trying to get at the bank: Registration fees!)
They will only pay the student loan as soon as the registration is done!

But: The University wants proof of payment of the registration fees!
Or else they wont register her!

A Catch-22!


We gave up on getting a student loan at the bank! It was a very degrading process!
It just does not make sense to try to get a student loan from them.