Summer is a time for fun and excitement, but it can also be super expensive. Summertime can be a season of major life changes like household moves and weddings; purchasing that boat you’ve been eyeing and let’s not forget those dream vacations! 

Before you start swiping the plastic for everything under the sun, we recommend considering a personal loan to stay within your budget.

At, Lincoln SDA Credit Union, the application process is smooth and quick, and, as a member, you don’t need flawless credit to qualify for a great rate. We also offer fantastic terms, with interest rates on loan payments as low as 7.25%. When you use a personal loan instead of racking up credit card debt, you are making a responsible choice that can positively impact your finances for years to come. 

To help you accomplish this, we have outlined seven ways to responsibly use a personal loan this summer.

1. Getting married 

According to Brides.com, the average wedding in 2018 cost more than $44,000. That’s a whole lot of money you may not have sitting around. 

If you’re tying the knot this summer, consider taking out a personal loan to help cover your wedding costs. Use your loan to fund the larger expenses, such as your rings, wedding dress and venue, or to cover the smaller costs like the flowers, travel arrangements and photographer. 

2.  Moving to new home 

Since the kids are out of school, summer is the most popular time of year for household moves. Whether you’re moving a few blocks or a few states away, moving costs can be prohibitive. You’ll need to consider the expense of moving supplies; paying the mover; plus the cost of new furniture and other household items to help turn your new residence into a home. Taking out a personal loan to help you cover these expenses can make a household move a lot less stressful. 

3. Purchasing a vehicle 

If you’re looking to buy a new car this summer, an option you may not have considered is a personal loan. Similarly, if you’re interested in purchasing a boat, ATV or an RV this summer, a personal loan can help you turn that dream purchase into a reality without the exorbitant interest rate. 

4. Consolidating debt 

Summer is all about freedom and what better way to feel free than getting rid of that nagging credit card and student loan debt? 

Paying off multiple loans and credit card bills each month can make you feel like you’re fighting an uphill battle thanks to skyrocketing interest rates. Wouldn’t life be simpler if you only had one debt with a nominal interest rate? A personal loan can make that happen. 

A personal loan can be used to pay off all your credit card and other outstanding debt, and with a single loan to pay off with a manageable interest rate, you’ll be able to make steady progress toward living a debt-free life. 

5. Taking a dream vacation 

Perhaps the road trip you take every summer is getting stale and you’re ready for something bigger, like a luxury cruise or trip abroad. You might be celebrating a milestone anniversary or college graduation, or maybe you want to cross something off your bucket list; however, your budget is not equipped for the tens of thousands of dollars you need for your dream getaway. 

A personal loan can help you fund the trip of your dreams with a payment plan you can afford so you won’t need a vacation from debt when you return. 

6. Renovating your home 

When the weather warms up, homeowners want to upgrade their homes. Whether it’s installing a swimming pool, giving your kitchen a complete makeover or turning your garage into a guest suite this summer, a personal loan can make it possible. Personal loans may be a better option for homeowners who don’t have a great deal of equity in their homes and consequently would not be a good candidate for a fixed Home Equity Loan, or a HELOC. 

7. Funding medical expenses 

If there are medical procedures you’ve been putting off because they’re not covered by your health insurance plan, a personal loan can help you look and feel great this summer. A personal loan can help borrowers fund elective cosmetic surgery, dental work, fertility treatments and consulting with alternative practitioners about chronic health conditions.  

Stop by Lincoln SDA Credit Union or give us a call at 402-489-8886 to ask how you can get started on your personal loan application. We’re always here to help make your summer dreams come true. 

Your Turn: What are your summer plans and how are you going to pay for them?  Share it with us in the comments.