Before you take a loan

A few days ago, the meeting of the Monetary Policy Council left interest rates unchanged. Thus, the level of low rates has remained unchanged for a year. It also translates into the level of interest on bank loans. Banks even encourage their ads to get into debt.

However, I think that the level of indebtedness of family budgets is so high that nowadays many families are thinking about how to get out of the credit spiral, and not about getting into debt again.

But of course there are those who, however, take loans and will continue to take. Today, however, I would like to encourage prudence and before taking a loan, ask myself some important questions that can help you decide on the question of take or not.

You need to think about what money is really needed for

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An honest answer to this question may make us realize that the camera we want to buy is really useless to us and we can do without it. That the old TV, which we serve several years, may still be useful the next few years. And there is nothing interesting on TV. Instead of sitting in front of the screen, it may be worth spending more time talking to your children, spouse, going for a walk, etc.
That holidays instead of a loan this year will be financed with their own savings .

When thinking about buying a house or a flat, think about whether you need this size
Your family. The larger it is, the later the expenses will be higher. If you do not have money to buy, take a loan, but for a smaller amount and for a shorter loan period.

Before you take a consolidation loan

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Think about its profitability. It is often the case that the loans to be subject to consolidation have a short history and with help they have little in common. Insurance or commission costs are not yet repaid, and consolidation may lead to a reduction in installments, but often the debt to be repaid increases.

If you already have to make a loan decision, consult a financial advisor. Tell him what you expect, let him analyze your financial possibilities. Based on the interview, he can show you the most appropriate solution.

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