Where to get a loan?

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

Life rises in price before our eyes. For some reason, cherished rustling papers with watermarks do not appear on their own in the nightstand, and for some reason it seems that they pay much less for the work than you deserve. And what you get flows like water into sand or like sand through your fingers. And I want to live. And, most importantly, I want to live well. We introduce a strict regime of frugality, we suffer for some time, even something accumulates on the account, but the school year begins, the washing machine finally fails, or it turns out that a new decent suit is desperately needed. Shops are full of goods, advertising puts pressure on the psyche, shopping has turned into a kind of entertainment, and for some, into psychotherapy. As the Americans say, "spending is cool & sexy." But it's good when you have something to spend. And when there is nothing, where to borrow money?

A well-known situation: having made a big purchase, you rush with an outstretched hand to grab the required number of fives and tens to the nearest receipts. On the other hand, why put money in a stocking, dreaming of saving up over time for the necessary thing, if you can use it and slowly pay its cost? Any accountant will say that it is wiser to take a loan from a bank to finance any serious project than to save money in a current account for years.

In advanced economies, buying on credit is considered reasonable, natural and beneficial for the prosperity of both individual citizens and society as a whole. Very, very many people acquire loans, especially young people who are just beginning to equip their life. There is also a plus: a reckless spender learns to count a penny when a serious debt hangs over him. Although, of course, it can be dangerous to use a loan without habit and experience. It is not for nothing that they say that you borrow someone else's money for a while, but you have to give your own money for good. Perhaps it is better to resort to leasing?

Are you sick of all this talk about leasing and interest? But if you are not one of those lucky ones whose well-being is guaranteed by a cute daddy or a loving man, you cannot afford to dismiss these boring, but necessary things. And the question arises: where to borrow money for these necessary things?

So, ways to borrow:

Bank loan

The undoubted advantage is that you can get a fairly large loan from the bank. The disadvantages include the fact that the creditworthiness of the client is thoroughly studied, a guarantee is required (mortgage on real estate, mortgage of buildings, a significant guarantee). When obtaining a loan for housing, in addition to guarantees, self-financing is required in the amount of up to 30% of the cost of housing. The bank limit is always targeted and always limited.

Credit card

Pros: payment for purchases with a delay of up to 40 days, a certain part of the limit can be selected in cash, you can pay and receive money in more than 130 countries of the world, with timely payment of the loan, interest is not charged, but an annual fee is taken in advance. The card is evidence of the bank's trust, therefore it can be used as a guarantee on foreign trips. Cons: the limit depends on the monthly income and if the loan is not repaid on time, a penalty starts to run up.

Leasing

Pros: You can get the desired product faster, especially in the store when making an installment purchase. Additional guarantees are not required, since the purchase itself serves as the collateral. The share of self-financing is less than with a bank loan. You can buy a large item up to a mansion. A clear disadvantage is that the buyer becomes the owner only after paying the lease payments, as well as the fact that in case of non-payment, the person loses both the goods and the money already paid.

Loan from the employer in the form of an advance with payment in installments

Pros: it helps before the paycheck and, as a rule, does not bear interest on loans. Let's add to the pluses - if the employer gives a loan, then he appreciates you. The disadvantages include: short-term and the fact that such loans are practiced mainly in small enterprises.

A friend's wallet

It all depends on the personality of the friend, the level of trust and the nature of the agreement. (Put the sign yourself).

So, life in debt is a sign of the times. Capitalism is very subtle in tempting our sinful and pliant souls. He knows where to borrow and has come up with all kinds of household loans: loans for the purchase of housing, valuables, credit cards, leasing … All these things are not bad if you know how to use them and know your limits. The main thing is that it is not money that owns us, but that we manage our income.