How a personal loan can improve your financial security

In today’s economy, the majority of Canadians have less than $10,000 in savings. This suggests that the value in saving isn’t as high as the value in spending, however, setting money aside for a rainy day is, in actuality, quite important. Many financial advisors and consultants suggest having at least six months worth of income saved as part of a “rainy day fund.” This is simply because unexpected occurrences like medical issues, loss of employment, litigation, vehicle repairs or separation/divorce generally put a severe strain on finances. If you’re having difficulty setting money aside, one suggestion is to take out a small loan and set those funds aside in a separate account (like a Tax-Free Savings Account). Although you are making monthly payments on this loan, your new liquid savings will also be earning some type of return. AAR Financial provides personal loans both secured and unsecured. Give us a call and let’s see how we can improve your financial security.