The festive season has set in with a flood of offers and discounts hitting the market from retailers on merchandise to spur purchases. With the enticing bait being thrown at you, it is quite easy to get lured into spending, sometimes beyond one’s financial abilities.
While goods come at a discounts, financiers would press you to avail personal loans for high-ticket purchases. But should you avail of high-cost personal loans? And what could be the alternative financing options?
Financial advisors feel personal loans should be one of your last financing options as they come with a high price and can ruin your financial plan. Such loans can come with annual interest of around 20 per cent or more.
