Taking out a loan may not be the first thing you think about when it comes to reaching long-term savings goals. But there are good reasons to consider it. For example, if you waited until you had enough saved to make every large purchase, you’d not only wait a long time to access some of life’s basics, but you'll miss out on fun and leisure. Also, tapping your savings for an unexpected or particularly large expense, may create additional financial challenges, or at least obstacles to your longer term financial goals. For instance, when you withdraw from your savings and lower the account balance, you'll earn less in interest. Short-term borrowing with a tool like a personal loan can help you afford big expenses, or a dream vacation, while keeping your savings on track. Because a personal loan is unsecured, you can borrow anywhere from $2,500 to $40,000 without putting up collateral (like your home). You’ll know exactly how much you’ll pay each month and for how many months, so you can circle a day on the calendar when you’ll have the loan paid off. They can be flexible and customizable. So you can build the repayment into your budget while also keeping your savings in there, too. You can use a personal loan for a variety of reasons. Some people borrow to help pay for major life milestones, like a wedding or a special vacation. Others use personal loans to help pay for unexpected medical bills or home improvements.