Some argue that money does not give happiness, others comment maliciously that the lovers of the quoted statement are those who lack these funds. Regardless of whether we agree with the cited thought, it is worth knowing that the money itself (though in a slightly different form than we know it today) is almost as old as human history is old. At present, it would be difficult to imagine what the modern world would look like without money. It is most likely that humanity, accustomed to exchanging goods and services, would rather quickly find another means that would eventually perform a function very close to money
Good loan or what?
Research shows that more and more Poles are borrowing money (which is especially visible before Christmas). Women more often borrow money for small expenses and “patching” the household budget, men buy borrowed electronic equipment, household appliances or car gadgets. Both (although their purchases differ) benefit from financial support offered by both banks and by various private companies specializing in providing quick loans over the Internet.
The problem is, however, that although we do not refuse ourselves before borrowing money, we do not quite know what to look for when applying for a loan, or how to choose a good loan, i.e. in short one that will be tailored to our needs, possibilities and which we will be able to pay back.
Choose the amount you need
First of all, when answering the question of how to choose a good loan, it is worth realizing that whether it is from the bank or the loan company that you need to borrow as much as you need. It seems quite logical, but many borrowers forget about this simple rule, asking for a larger sum than they will be able to pay back. In addition, extra money is an additional temptation and the risk of buying something that we don’t need for it, which today seems to be a unique opportunity, and in a day or two will be among other things bought on impulse that were supposed to serve us for years , and somehow have not been useful so far. When choosing the amount we need, however, you should not underestimate it and count on the fact that additional money will “be found”. There is a risk that we will not be able to obtain the missing amount, and then we will have to deal with where to get the money again (the second loan, when we have not repaid the first one, we will not receive it).
Choose a real repayment period
Another issue related to how to choose a good loan is, in addition to the amount already discussed, its repayment time. This should be adapted to our capabilities, the amount of monthly income, whether our earnings are regular or can be different in a given month etc. A good loan is one whose repayment will not be too heavy for the household budget. Here you should measure the strength of your intentions – it’s better to spread the loan into more installments and be sure that we can afford to settle it, than choose a shorter repayment time and worry each month about whether we will have what to pay the next installment from.
Short-term or long-term loan?
Which one we decide on will depend on the amount we want to borrow and how quickly we can give the lender the sum we applied for. If we need a loan that is more convenient and lighter, it is better to choose the long-term one. If, however, we expect an injection of cash and we know that our financial problems are temporary and the amount we want to borrow is not too big – in this case we can confidently reach for a short-term loan.
What to look for when borrowing money?
So how do you choose a good loan? In addition to the points that we have already discussed in the previous paragraph (i.e. the amount, type of loan and repayment time) you should also carefully look at who we borrow money from.
Choose a reliable lender
When going for a loan, you should choose a proven and trustworthy lender. How to find one? Since you are reading this article, you do not have to look anymore, because you are in the right place ? Let’s get down to the specifics: a trusted lender is one who has good opinions, whose business is legal and offers loans on clear and transparent terms. Let’s beware of those lenders (whether online or offline) where we don’t know how much to pay back and what are the conditions for receiving the loan.
Watch out for too high costs
Our vigilance should be raised by companies that demand fees, e.g. for preparing a repayment schedule. We should also avoid offers that are fraught with additional costs. Fortunately, when you approach our specialists, you don’t have to worry about unfair practices. You decide how much and for how long you want to borrow. Hence – from the beginning you know how much you will have to pay back.
What shouldn’t worry? Need to provide your details. The most frequently required data include data from an ID card. You will also need a phone number and a bank account number. Sometimes a verification transfer may be required. These steps are part of the normal procedure for applying for a loan. Completing these formalities is necessary so that we can receive money as soon as possible.
Where to take a loan?
As we have already mentioned, this should be a proven, reliable and trustworthy lender. When choosing an institution where we want to borrow money, it is worth considering the opinions of other clients, family or friends. It is also good to pay attention to how many years the company exists on the market and on what terms it grants loans. The quality of customer service is an important issue. It includes, among others, whether the employed consultants can answer our questions. However, the website should contain the most important information.
However, we should not be afraid that the company does not have a stationary seat – in the era of online loans, these companies have fewer and fewer enterprises, because the entire procedure related to granting a loan via the Internet can be taken care of without moving from home or … from the computer screen ?
How do you choose a loan that I can pay back?
The loan amount and repayment time are the most important issues that we should think about before we go for a loan.
According to our consultants, the best solutions are simple solutions, i.e. a loan with equal, monthly installments, which will be the easiest to pay back. In this way, before we make a commitment, we will be able to answer the question whether we can afford a loan. A longer repayment period is an additional security and guarantee that the borrowed money can be returned on time.
Do you have any questions? Do you want to know the terms of the loan? Get to know them on our website and … borrow exactly as much as you need.