The martial arts take not only high degrees of body training, but mind training as well. Certain types of equipment are needed, in order to compete. Travel arrangements have to be made, you’ll need to eat while you’re on the road, hotel stays will be yet another expense. As with any career that requires travel, fighting and martial arts tournaments can be a serious drain, on your bank account. Particularly, if you don’t win. The purse goes to the victor!
What Could Possibly Go Wrong on the Road?
The list of what can’t go wrong,, while you’re on the road is probably shorter. Horror stories by competitive fighters litter the Internet. Any one of these could be your story the next time:
- The van or car that you keep your equipment in is stolen or vandalized and all of your equipment right along with it. Now you find yourself in need of equipment, in order to stay in the competition.
- The plans for your hotel fell through and now you have to find somewhere to stay and they want payment upfront.
- You suddenly find yourself in need of severe unwinding and would consider booking a massage or some other type of therapy session, if you only had the money to pay for it.
- You had the money to pay for everything you knew were going to need to pay, for until your wallet got lost or stolen. Now what?
Aside from calling home, the answer to these questions could be quick and easy signature loans to at least temporarily cover costs. Needless to say, this has to be paid back in the specified amount of time, but it gets you off the hook, for the time being.
When It Comes to Qualifying Tax Deductions
If that signature loan was something that qualifies as an emergency and was incurred while traveling on business, which is what your fighting career probably is, you’ll want to check with a tax preparer or CPA to find out if the interest you ended up paying on that signature loan is tax-deductible. And, this is worth checking out, because the interest rate on signature loans can be considerably steep.
As long as you have reasonable credit, income and are deemed worthy by those putting forth the loan, you should not have a problem getting this type of loan. It does not require collateral of any kind. Unless you’ve got a rich Uncle somewhere, that can loan you money whenever you need it, you could find yourself needing one of these borrowing techniques, in the near future.