As you likely already know, income inequality is worse in the United States than it’s ever been before; further, no country currently has a greater disparity between its top earners and its low-income counterparts – another way of defining income inequality – than the United States. The average American isn’t paid as nearly as well as he was in the 1970s. Since then, wages have stagnated when adjusted for inflation.

Since people are living from one paycheck to another more frequently than ever before, society more often looks to short-term personal loans than our parents and grandparents. Personal loans can actually, believe it or not, prove quite helpful – don’t believe all the hype about short-term loans being a bad idea. Check out these benefits of taking out relatively short-term personal loans.

What Is A Personal Loan?

Making sure you understand what personal loans are before discussing their benefits is of utmost importance. A personal loan is one that is not secured by collateral in the event you default on it. They typically have shorter loan terms and higher interest rates than business loans, for example.

You Can Use Personal Loans For Anything

Student loans, car notes, and credit … Read more