Manage your Personal Finances

How a 12 Month Loan Can Help you Manage your Personal Finances?

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Managing your personal finances may be a bit daunting, particularly, if you haven’t planned a budget according to your income and expenses. And practically, there is no magical formula that will bring your finances on track overnight. You have to strive in order to attain financial peace and for that, you have to measure each of the steps that you take.

In this blog, we will discuss:

4 steps to manage your personal finances?

To manage your personal finances in the right order, you must follow the below-mentioned steps

  1. Evaluate how much you earn every month and how much do you spend?
  2. Your financial goals and prioritise them.
  3. Draft a monthly budget and stick to it religiously. Budgeting is considered as one of the most powerful tools to accomplish financial success.
  4. Add necessary details in your budget planner and start saving some money every month for an emergency fund – that you can rely on to cover unexpected expenses.

What is the role of a 12-month loan and how it can help you to manage your finances?

If a borrower applies for 12 Month Loans, then the cost of repayment will be spread over 12 months. These loans are unsecured and hence, no collateral is at the risk of any damage. However, the borrower has to ensure timely repayments or else their credit score will be ruined.

These loans are deemed to be ideal for a bigger purchase as the borrower has a longer tenure to repay the loan. Besides, manageable monthly instalments will contribute towards building your finances. A borrower can easily repay the short term loan and at the same time, manage to pay for their regular expenses. Choosing the right term for the loan repayment and the loan amount is quintessential and that is why you must carefully understand the whole mechanism before taking out a personal loan.

Please note that you cannot use the amount received for investing in stocks and shares, or you cannot lend the money to someone who couldn’t receive a loan due to creditworthiness.


If you do not have an emergency fund, you may opt for a personal loan online (12-month loans) to help cover your expenses. Please bear in mind that these loans are high-cost short-term credits and hence, the rate of interest is comparatively higher than a few other credit products.

To apply for a 12 Month Loan at Oyster Loan, Click Here.