A personal loan can be used for almost anything a borrower wants them to be. Lenders place few restrictions on personal loans making them an attractive option for people looking to pay off debt or accomplish other financial goals.
Vacation loans can help you cover a pricy getaway, but will increase the cost due to interest and leave you paying for your experience long after it’s over. Plan ahead to save what you can, use credit cards carefully, and borrow responsibly if you need to finance a vacation.
It can make sense to use a personal loan to pay off credit card debt if you can get one with a lower interest rate than your credit cards.