Emergencies are unpredictable. When they strike, we may be inadequately prepared to deal with them. While having an emergency fund is among the tenets of financial prudence, there are times when our funds may not be sufficient to deal with the situation at hand. That is where loans, specifically personal loans or gold loans, can be useful.
A recently published survey titled the ‘BankBazaar Aspiration Index’ which studies respondents under five aspirations of health, wealth, fame, relationship, and personal growth, presents some interesting trends. One such trend highlights that, on an average, women are borrowing more than men. Out of the total respondents, 91 per cent of the women had an open line of credit compared to 87 per cent of men. While more men use credit cards, women have more secured and unsecured personal loans and gold loans.