Daily 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

Writers Wanted

How do we actually investigate rare COVID-19 vaccine side-effects?

arrow_forward

ABC's new arts show walks the line between high and low brow — and it works

arrow_forward

COVID virus fragments have been detected in sewage in my area. What does that mean and what should I do?

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Prime Minister interview with Karl Stefanovic and Allison Langdon

Karl Stefanovic: PM, good morning to you. Do you have blood on your hands?   PRIME MINISTER: No, it's obviously absurd. What we're doing here is we've got a temporary pause in place because we'v...

Karl Stefanovic and Allison Langdon - avatar Karl Stefanovic and Allison Langdon

Prime Minister Scott Morrison delivered Keynote Address at AFR Business Summit

Well, thank you all for the opportunity to come and be with you here today. Can I also acknowledge the Gadigal people, the Eora Nation, the elders past and present and future. Can I also acknowled...

Scott Morrison - avatar Scott Morrison

Morrison Government commits record $9B to social security safety net

The Morrison Government is enhancing our social security safety net by increasing support for unemployed Australians while strengthening their obligations to search for work.   From March the ...

Scott Morrison - avatar Scott Morrison

Business News

Perks of Acquiring an Established Business

There is a growing trend of buying well-established businesses in Australia. It seems like budding entrepreneurs are finally understanding the perks of buying an established firm as opposed to start...

NewsCo - avatar NewsCo

What Type Of Company Should I Set Up?

Starting your own business is exhilarating, but there’s a lot to think about. One of the most important considerations is the type of company you want to set up. And this is not always a straightf...

NewsCo - avatar NewsCo

What Are The Essential Elements Of An Effective SEO Strategy

Search engine optimization is very powerful to improve the search engine page rankings of a website. However, many businesses find it complex. To implement it correctly, a business has to learn th...

NewsCo - avatar NewsCo