Holiday costs can add up quickly. You might be tempted to take out a personal loan to cover those expenses. If you have decent credit, it’s usually quick and easy to get a personal loan. Personal loans can be a better alternative to credit cards because they typically have lower interest rates.
Plus, it’s easy to rationalize taking on extra debt with a loan by telling ourselves that we deserve it because it’s the holidays, said Neal Frankle, a certified financial planner and founder of credit-repair website Credit Pilgrim.
