Daily BulletinDaily Bulletin

Money

  • Written by Tess Sanders Lazarus


According to David Lennon, founder of ‘You’re Welcome Finance, and also known as the ‘Personal Loan Guy’, demand for personal loans in Australia is changing rapidly.  “Once upon a time personal loans were widely used to purchase new cars, undertake renovations or buy a boat or caravan.  Now they are even being used to fund surgery and lifesaving treatment for pets, cosmetic surgery and overseas destination weddings.” 

 

“In the old days, traditional bank managers used to dictate what you could and couldn’t do with your money,” David Lennon said today.

 

“That’s part of the reason why people started moving away from the banks to firms like mine because we offer people more flexibility and we don’t dictate to or judge them for what they can and can’t use the money for.   

 

“Today things have changed significantly.    Among the most common reasons people now borrow money include holidays, surgery for their pets and even destination weddings.  

 

“Obviously People are still getting personal loans to buy cars and consolidate credit card debt, but they are also using the funds for other things that are really important in their life.”

 

“We are seeing a lot more people getting personal loans to fund treatment for their pets.  Some people are borrowing in excess of $10,000 to meet the cost of pet treatment.”

 

According to the Australian Bureau of Statistics, Australians are spending in excess of $12 billion a year on food, grooming, vets and insurance for their pets, making the pet care industry one of the major growth sectors in Australia.  Some eight million Australians own pets.  

 

“Australians love their pets, so it is easy to see why demand for personal loans for pet treatments is souring.   While some people may have pet insurance, unfortunately in a lot of cases the insurance doesn’t cover the treatments needed,” David added.

 

“It can cost up to $20,000 to treat a dog with cancer.  Hip replacements cost around $6,000 per hip and knee reconstructions cost around $4500.   Treating a pet can be expensive and many people would prefer to pay the cost if possible if it means prolonging their pet’s life and quality of life.

 

“You don’t really want put these types of expenditures on a credit card, so personal loans become the best and fastest option for people needing money quickly to fund critical lifesaving surgery for their pets.”

 

You’re Welcome Finance is a national finance company which provides personal loans, car loans and home loans. 

 

www.yourewelcomefinance.com.au

Fire-ravaged Kangaroo Island is teeming with feral cats. It's bad news for this little marsupial

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Prime Minister Scott Morrison Interview with Ray Hadley, 2GB

RAY HADLEY: Prime Minister, Scott Morrison, supposed to be on holidays. He's not. He's online. Prime Minister, good morning.    PRIME MINISTER: G’day Ray. Certainly staying very close to every...

Scott Morrison - avatar Scott Morrison

Scott Morrison Covid 19 update

PRIME MINISTER: Good afternoon, everyone. Today I’m joined by Professor Paul Murphy - sorry, Professor Paul Kelly. I’ve got Brendan Murphy still on the brain. You are not far from us, Brendan. B...

Scott Morrison - avatar Scott Morrison

Prime Minister Interview with Ben Fordham, 2GB

FORDHAM: Thank you very much for talking to us. I know it's a difficult day for all of those Qantas workers. Look, they want to know in the short term, are you going to extend JobKeeper?   PRI...

Scott Morrison - avatar Scott Morrison

Business News

Fifth Dimension: Identified as one of the world’s leading strategic consultancies

Sydney based consulting company, Fifth Dimension, has been recognised for its ground breaking work, receiving a place in the GreenBook Research Industry Trends (GRIT) Top 25 Strategic Consultancie...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus

Understanding Your NextGen EHR System and Features

NextGen EHR (Electronic Health Records) systems can be rather confusing. However, they can offer the most powerful features and provide some of the most powerful solutions for your business’s EHR ne...

Rebecca Stuart - avatar Rebecca Stuart

SEO In A Time of COVID-19: A Life-Saver

The coronavirus pandemic has brought about a lot of uncertainty for everyone across the world. It has had one of the most devastating impacts on the day-to-day lives of many including business o...

a Guest Writer - avatar a Guest Writer



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion