We live in a world of uncertainty, of that there is no doubt, and life has its ups and downs; surprises, both good and bad, are part of our experience and bearing that in mind, here are a few scenarios that might lead to taking out a personal loan.

1. Getting married – Just when you thought you were destined to be single, you met your soulmate and since that first date, your love has continued to grow and you are now planning the wedding. Paying for a wedding is one of the top reasons people take out personal loans and the online lender offers low rates and the money is in your account in a matter of minutes. Let us not forget that the family home is also looming on the horizon, so it might be wise to keep the wedding party basic.

2. Dental implants – If you are fed up wearing dentures and would like a permanent solution, the latest dental implant technology is available from the cosmetic dentist. For a full set, upper and lower, it is never going to be cheap, yet implants are there for life! Start with a Google search to find leading Australian online lenders and go to the ‘personal loan’ section. Compare rates and loan packages and by filling in a short form, you will receive approval in minutes and you can book the first dental appointment.

3. Car failure – If the worst happened and your car died on the highway, it might not be at the best time financially, yet you need a car and a personal loan is the quick fix. Rather than buying an old banger, you can spread the payment on a nice set of wheels; set aside a monthly figure that you can afford and enjoy a quality ride in a decent vehicle, which is also a lot safer. Sometimes, we have no say in the timing of a vehicle write-off and a personal loan might be the best solution.

4. Becoming a parent – This is a milestone in every person’s life, which also happens to cost a lot of money; once mum and baby are home in the newly prepared nursery, you have to think about prams and buggies. No one wants to dig into their savings and taking out an online personal loan is fast and convenient, with the cash wired into your bank account within a few hours, often on the same day the application was made.

5. Further education – If you decide that getting that MBA would boost your salary and promotion hopes, you can take out a personal loan to cover the cost, which is actually a very wise long-term investment. In a perfect world, we would all have access to higher education, but as it stands, the cost of a Master's Degree can be covered with a personal loan and that opens the door to management.

Gone are the days when you had to wait a few days to get an answer when applying for a loan; online lenders have streamlined the process and they have a range of repayment packages to suit your lifestyle.