2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
To pay for the purchase we need, for which there is not enough money here and now, we resort to bank loans. And often, in a hurry, we don’t even think about where it’s more profitable to get a loan - all thoughts are already about a new car, washing machine or refrigerator, and there’s no time for calculations.
But even minimal differences in lending conditions can (eventually) significantly affect the amount of the overpaid amount. Another typical situation: a person is looking for where to get a loan quickly, not realizing that spending an extra half an hour comparing the conditions of different financial institutions can save a lot.
Credit cards have long taught us to live in debt. It's simple, because upon reaching the age of majority, anyone with a passport can apply for a card within half an hour, without really thinking about where it is more profitable to get a loan. Even today, many go on vacation on credit, not to mention less expensive purchases.
However, not everyone understands that they will have to pay for the use of bank funds, and therefore they often perceive them as their ownfunds. In the same way, not everyone understands where to get a loan, whether it will be beneficial in general, and what consequences it can lead to. And it turns out most often that you will not only use credit funds, but you will also be forced to give up your money. Therefore, you need to calculate in advance what such a loan and its repayment will actually cost you. It is quite possible that in order to purchase the necessary thing, it will be much more profitable to save money for a short period, rather than contacting credit organizations.
There is a "credit medal" and the reverse side. Bank loans teach people to be rational about money. Keeping their obligations in mind, they build their way of life and lifestyle differently, learn to prioritize correctly, which means they gradually get used to financial discipline and develop the ability to plan their own future.
There are a large number of loan programs today. These are loans to buy real estate, pay for education, start your own business, etc. Each of them is issued in different financial institutions on different terms, which is why it is so important to calculate where it is more profitable to take a loan. Sometimes it happens that people absolutely thoughtlessly choose a loan program, after which they sign the contract without reading it to the end and not understanding for themselves the specific conditions on the basis of which they receive funds for use. As a rule, this ends with the fact that after some time a person begins to “puzzle” over how to return the money. Refers toloans need to be taken seriously, you need to calculate your capabilities several times, carefully read the contract, determine where it is more profitable to take a loan, then there will be no headache with repayment.
The main thing - you need to understand that obtaining a loan should not become an end in itself. Rather, it is one of many ways to solve life's challenges. This is a service that you will have to pay for.
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