The hard times we are living in today force us to save. However, the KRD (National Debt Register) research shows that as many as 45% of Polish women do not have any savings. Virtually the same number of respondents plan to borrow money. Before taking a loan, it is worth thinking about – how to do it so as not to fall into financial trouble?
The decision to make such a serious commitment, regardless of whether it is a mortgage, consumer loan or even a holiday loan, should be approached with caution and calmness. Spontaneity will be the worst advisor in this case.
You should get to the case with a lot of time, calculate everything coldly, and calculate it exactly. There is also no point in overly suggesting advertising slogans, according to which each offer looks very attractive. Below are some comments that should be taken under the microscope in order to safely take a consumer loan.
First of all, calculations
Before we take out a loan, let’s think about whether we really need it now? It is trivial, but contrary to appearances, it can help to avoid unnecessary stress in the future. It often turns out that we take out a loan when we are weak and on impulse. In some cases, it is better to give up some frills than to burden your household budget with a monthly installment.
Maybe you just have to wait a bit and just put aside the amount of money you need? However, if you really need a loan, let’s pick up a card and pen, and then create a list of all your revenues and expenses, including monthly expenses for housing, transport, food, clothing, and entertainment.
In this way, we will check how much we can spend on a loan installment per month. Only with this knowledge can we ask the bank to calculate our creditworthiness.
Adequate security is essential
At the bank, it may turn out that we will not receive such a large loan that we want to obtain. Then you will have to apply for a lower loan amount or extend the loan period. In this case, do not insist on your own and forcibly look for a bank that will offer us a better offer.
Creditworthiness reflects our real repayment possibilities so you should absolutely trust her. In terms of security, you should also think about credit insurance. It is quite expensive and apparently, it can increase the commitment installment, but if an accident occurs to us then we and our family are protected.
Comparison of offers
Once we are sure that consumer credit is the only solution for us, we still have to choose the best offer. At this point, let’s not be fooled by the ads, let’s thoroughly analyze each offer and get to know all its details. We should also remember to start with the proposal of his bank, i.e. the one who maintains our personal account, to which we receive remuneration for work performed.
Maybe we can negotiate individual conditions. If not – it’s worth knowing the competition’s offer. We can also use the services of a financial advisor, who will present various options in an accessible way and help choose the best solution.
We are ready to sign the agreement with the bank in this way. However, we should remember about regular, timely repayment of installments, as well as the consequences that we may incur in defaulting in monthly payments. If there are problems with financial liquidity, it is best to contact the lender as soon as possible asking for temporary suspension of repayment of installments.