Thats when, Ive read, humanitys first bankers started issuing loans of seed grain.

After the harvest, farmers would pay them back with interest.

Fast-forward to today, when people are taking out loans for a million different reasons.

woman painting interior wall with paint roller in new house

Aileen Perilla/The Penny Hoarder

Theyre borrowing money for fertility treatments, cosmetic surgeries or dream weddings.

Heres the catch:Some reasons are financially smarter than others.

Here are the best and worst reasons to take out a personal loan.

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Youll be making fixed monthly payments for a while.

Thats why its best to get a loan only for financially sound reasons.

Our team has compiled alist of creative waysyou can fatten your bank account this week.

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This is a long list, so dont get overwhelmed.

Well keep it updated as offers changes or expire.

Its also one of the smartest reasons.

For example, credit cards can carry interest rates of 15% to 25%.

In contrast, Toms says rates on personal loans could be as low as 4% or less.

In other words, you could save yourself hundreds of dollars on interest payments.

Did you know?

For Home Improvements

Want a new kitchen?

Is the roof starting to leak?

you’ve got the option to get a lot of bang for your buck.

Whichhome improvements pay offthe most when its time to sell your house?

Think curb appeal.Spend your money on the front of your house, where everyone can see it.

The older you get, the more likely you are to borrow for home improvements.

But they can also be misused.

Think twice before borrowing money for the following purposes:

1.

To Pay for a Wedding

The average American wedding costsmore than $30,000, according to The Knot.

Hey, we like a nice wedding cake as much as anyone.

That way you wont be paying interest for years.

The argument in favor of it:OK, we get it.

It can happen to any of us.

Ask them about financial assistance.

Or request assistance from a patient or medical billing advocate.

Unpaid medical debts can show up on your credit report and hurt your credit score.

Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.

Hell have your money next week, he promises.

It sounds appealing right?

Check it out here!