Personal finance is money you borrow from a bank or lender to pay for things like a car, home renovations, or unexpected expenses like car repairs or vet bills. The benefits of getting a personal loan include having access to funds when you need them and being able to spread the cost of a large expense over a period of time. However, the risks include paying interest, fees, and the possibility of getting into debt if you can’t afford the repayments. Ensure you know the total costs before applying, or reach out and ask for help.