It’s the world’s worst-kept secret: Colorado is rapidly becoming more and more expensive. Cost of living is only growing, and while there’s been talk of the housing bubble finally bursting, nobody is sure when that might actually happen. While there are plenty of ways to get by in Colorado’s many cities without financial assistance, there are a few reasons why you might want to consider getting a personal loan if you’re a resident of the mountain state.

Finishing touches on your home

If you’re one of the lucky individuals who owns property in Colorado, big congratulations are in order for you. You’ve spent time with your Boulder or Lone Tree Colorado real estate agent and finally found the perfect spot. It’s no small feat and it means you’ve likely worked for quite some time to be able to afford down payments, closing costs, and a mortgage. Even if you’re residing in a condo, you still have the satisfaction of knowing that, at the end of the day, you’re a homeowner. However, while you may not be paying a traditional rent each month, homeownership comes with its own unique set of costs and fees. One such cost is the price to finally make your home, well, yours.

Before you pull up a Google search on “interior design boulder” or “denver designers” and balk at the price, you might consider applying for a personal loan to help with finishing your project. While you need to be prepared for the monthly payments, it’s much easier than leaving parts of your house unfinished until you can get to them. One thing you’ll notice as a homeowner is that there’s always another project around the corner, so it’s best to knock out the primary ones first.

Boost credit or pay off old debts

This is one of the most fiscally responsible reasons to apply for a personal loan. After all, what better use of the money than to improve your financial standing? If you’re saddled with older credit card debts or are looking to improve your credit score through responsible repayments, you’re in luck. Colorado is home to numerous financial institutions and credit unions that will likely be willing to work with you to reach your goals.

Also, if your credit report shows mostly card debts, having a personal loan on file may improve your score by varying your account mix a bit more while simultaneously lowering your revolving credit usage. It’s a good idea for those individuals who find themselves relying a little too heavily on those tempting plastic cards in their wallets. Plus, by consolidating credit cards into one lump monthly payment, you may very well find yourself with a significantly lower credit card rate than your providers offer.

Pay for a wedding

While running down to the courthouse over a lunch break might sound appealing to some, for others, weddings are meant to be a special, extravagant day. However, if you’ve taken a look at even some of Colorado’s more moderate venues, you might find yourself a bit taken aback by rental prices. That’s before you even start to factor in catering, a bar, and any form of entertainment. What can you do? That’s right, consider a personal loan.

Though you shouldn’t consider a personal loan carte blanche to go over the top on your special day, it is a responsible way to handle some of the larger payments, especially if you’re qualified for a lower interest rate than your credit cards carry. Don’t let yourself be saddled with loan payments for the rest of your life, however. You don’t want to have money issues turn your “I do” into a “I hate paying this bill every month.”

Act responsibly

While personal loans have many practical applications, it’s too easy for some borrowers to begin to think of them as “free money.” Everything has a price tag, and even if you qualify for a loan, you will need to consider if it’s the best use of your funds. If you have a solid repayment plan thought out and are committed to an extra monthly bill for the time being, you might be in the right frame of mind to apply for a personal loan.