Will Short Term Loans Finance my Hobby?

If you have a hobby and you want to buy new things for it, then you may consider whether you should borrow the money in order to pay for it. It can be a good idea to look into the pros and cons of doing this so that you can be sure that you are making the right decision with regards to the way that you are choosing to fun your hobby.


  • The main advantage with using a loan of any sort is that you will be able to get hold of the money pretty quickly. You can apply and get the money pretty fast. If you had to save up the money or wait until you next get paid then you will have to normally wait for longer before you have the money available.
  • With short term loan you will often find that it can be quicker to arrange compared with many other types of loans. If you already have a credit card or overdraft arranged then these will obviously be fast for access to the money. However, if you need to organise one of these or another type of loan then it can take some time to do so. However, some short term loans can be arranged in just a few hours so you will get the money very quickly.
  • Our hobbies can be extremely important to us. They can help us to wind down after work, focus our attention so we forget about stress and bring us a lot of pleasure either alone or with our family. This means that making sure that we have everything we need to do our hobby, whether that is buying art or craft materials, paying for classes or other equipment can be really important to help us to do them.


  • You will always have to pay for a loan and therefore when you buy an item using money form a loan, you will find that it will be more expensive compared with buying it with money you already have or saving up for it. Sometimes this will be worthwhile and sometimes it will not and you will need to judge whether you think that it is something that you will be happy to pay for or whether you think that it will be better to wait until you can afford the things without having to borrow money.
  • Being able to get the money really quickly can be a bit of a disadvantage if you are not careful though. This is because you could find that you will make a quick decision to get the money and maybe not think about it carefully. When you are borrowing money, it is always a good idea to make sure that you carefully think about whether you are doing the right thing. Consider the cost of the loan, whether you will be able to manage the repayments and generally whether you feel that it will offer you good value for money.
  • If we find that we struggle to repay the loan then it could be a source of stress. This could mean that we will end up not being able to enjoy our hobbies so much or really needing them to get rid of the stress. Think about whether this might happen for you and if you will find that it is not worth the loan because of this.

So, there is not really an easy answer to this question. You will need to think about what is important to you and whether you feel that you are justified in taking out the loan. Consider the cost and contrast that with the pleasure you will get form the money and decide whether you feel that it will give you good value for money.

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