Uncategorized – Fast Payday Loans Reviews / Mon, 11 Nov 2019 23:59:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.6 Creditworthiness – definition, how to calculate it, calculator /creditworthiness-definition-how-to-calculate-it-calculator/ /creditworthiness-definition-how-to-calculate-it-calculator/#respond Mon, 11 Nov 2019 23:59:12 +0000 http://www.fryertuckchicken.com/creditworthiness-definition-how-to-calculate-it-calculator/ Read More "Creditworthiness – definition, how to calculate it, calculator"]]>

We often come across the term in which we learn that our creditworthiness is low or insufficient. This sentence does not always seem clear to us and leaves many questions. What exactly is this creditworthiness? What is it about and does it have a real impact on something? While the concept of ability is not foreign to us, the financial context may be unclear. Does ability really affect the loan and can it close all our paths?

 

What is credit standing?

What is credit standing?

A customer’s creditworthiness is an assessment of his ability to pay off a contract. Simply put – the chance or the ability to pay the whole amount, including interest. It is important that all repayments take place in a timely manner. Assessing this ability is a complex process, mainly based on documents and information gathered about you. So you are a book, full of historical facts that determine whether you inspire confidence. The Banking Act does not, however, set exact criteria and methods of assessment. Therefore, it is possible for each bank to interpret it in its own way.

 

Creditworthiness assessment

credit problem

So what really affects your creditworthiness, which can affect the acquisition of the loan you need?

  • the most important is monthly income, and therefore a steady cash flow that will contribute to the possibility of monthly fees
  • fixed monthly charges – of course, budgetary charges. The more obligations the worse for creditworthiness – installments, car fees, rent, maintenance – all of this matters in the end
  • free client funds, i.e. the amount that remains after payment of existing liabilities, which can be transferred to repay credit obligations.
  • reliability – that is timeliness, honesty and attitude to existing, previous credit obligations (mainly towards banking institutions).
  • record – from age, sex to marital status and education. The stability of the place of residence is also often important
  • other – creditworthiness is increased and assessed individually, depending on the bank, currency, loan period and many other factors that affect the repayment of installments.
  • submission of documents – often a forgotten aspect, but also one that has real significance. Only a correctly submitted application, together with all necessary documents, can be considered by the bank.

 

Creditworthiness calculator

Creditworthiness calculator

Creditworthiness is assessed and calculated by the bank. Each of them has its own internal counting system, but we can create a simulation of this ability. Currently, creditworthiness calculators are available on portals and websites of various colors. Thanks to the results we get a hint regarding information and necessary elements that we need to prepare when going to the bank. The calculators also show an approximate capacity that may coincide with what the bank will tell us.

 

PKO creditworthiness

PKO creditworthiness

A good example is the creditworthiness calculated for e.g. a PKO bank. For example: deciding to buy real estate, in equal installments, with a 10% own contribution, and the necessary amount of 250 thousand, we get a full list of installments in the coming months. On this basis, we can determine whether this amount exceeds or is within our financial capabilities. Of course, it is worth considering several calculators that will give us the best and the most optimal. In the case of the PKO bank, a direct form is also available, through which one can contact the bank directly regarding questions in this field.

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Will it often hurt to check my creditworthiness? /will-it-often-hurt-to-check-my-creditworthiness/ /will-it-often-hurt-to-check-my-creditworthiness/#respond Sat, 09 Nov 2019 19:41:13 +0000 http://www.fryertuckchicken.com/will-it-often-hurt-to-check-my-creditworthiness/ Read More "Will it often hurt to check my creditworthiness?"]]>

It is often the case that we need to borrow money. We know, most often we want to get the most attractive offer. The problem is that the more credit we apply for and the better the conditions are, the greater the requirements. Will it hurt us if, after checking, our creditworthiness proves to be insufficient?

Usually, before taking a loan, our credit score is checked. This is the absolute standard. The lender scans our earnings, account receipts or expenses. He also checks our credit history. Our credit score is also affected, for example, by how long we live at the same address and whether we are entered on the voter list. The latter is proof of our roots in the local community. A signal to the borrower that we will not escape repayment to another country. Of course, the type of contract we work under is also of great importance. The employment contract will be better seen than being a temporary employee. Things are different when we are self-employed or run our own business. After the algorithm checks all these variables, the lender will determine whether to grant us a loan or not. But what if he refuses us? Does checking creditworthiness affect our assessment?

 

Any refusal will reduce our credit standing

Any refusal will reduce our credit standing

The basic principle is that any refusal to grant us a loan affects our creditworthiness. And it’s big. The more times our application is rejected, the less chance there will be when submitting the next one. Even if we could borrow, say, ten thousand dollars earlier, then when the bank refuses to borrow us, say, twenty thousand, we will have no chance even for several thousand. That is why it is worth measuring your intentions and submitting only a loan application that is likely to succeed.

For larger loans, it is common to use a broker institution. It is a company that will lead us through the thicket of offers, because it is a specialist in this area. Above all, however, it will help us determine what we can count on. He will review our situation in advance and determine what we have the chance of obtaining a given loan. This check is non-binding and does not reduce our credit standing. If we don’t know English well, let’s not worry. In Loans in the UK, the loan application is available in Polish.

Unfortunately, however, the use of a private lender can have its disadvantages, especially if you want to borrow a large amount and apply for a mortgage, for example. Well, some brokers can impose quite a high commission on us. If you buy a property worth 100,000 dollars, it will be around 1,200 dollars. However, if we want to borrow 350 thousand for the house we will have to pay 1450 dollars. These are of course examples of fees and may vary. Perhaps, however, it is worth trying, because we will avoid a situation when, after refusing the bank, we will not be able to borrow anything. It is also worth remembering that our creditworthiness reduced by rejected applications usually returns to the starting point after a few months.

 

You can also check your credit score for free

You can also check your credit score for free

There is another, often free, way to help reduce our credit chances. Well, there are a lot of websites on the Internet, thanks to which we can check it casually. That is, without an entry in the banking records. You enter practically the same data as in most real loan applications, except that this is only a simulation. When it goes our way, we can make a real conclusion with a high degree of certainty. This non-binding credit check will show us exactly how much credit we can count on and on what terms. Remember that their free is also strictly defined. Let’s read the conditions carefully. You may find that you don’t have to pay for it for one month after registration. Then you may be charged a dozen or so dollars. Therefore, remember to sign out after checking your creditworthiness. You can check your credit assessment for free on our website UK creditworthiness.

It is also worth asking at the bank. This is the simplest option. Although of course not the best. A bank employee also has experience in granting loans. He knows the rules on which all this takes place. He can always say more or less how he assesses our chances of getting a loan. It also often happens that he receives a commission for borrowing money. So he will want us to submit such an application that it will be accepted. For example, he may advise you against applying for a better credit card, and advise you to start with the one that offers worse conditions. Instead, it allows you to build a credit history that will allow you to access better offers in the future.

 

Loans with low credit scores

Loans with low credit scores

However, if we have concerns whether we can borrow anything or a small amount, this is another solution. If you are low on credit alone and still want to borrow money for emergency expenses, contact a private lender. Of course, this should only be done if you are certain that you expect cash to flow soon. That we will have something to give back. This is important because late repayment can cause us financial problems.

For loans in the UK, we may not offer loans in the UK without a credit check, however we have the right loans for people with any credit rating. All we have to do is meet only a few basic conditions: We are of legal age, we live in the UK, we have a permanent job and we earn over $ 750 a month. Admittedly, this is not much. Interest rates on loans for people with a low credit score will be higher, but sometimes it is the only way out when our creditworthiness is low. In addition, if we take out a loan for a short period, even with large differences in interest, the costs will be slightly higher.

 

Get help determining creditworthiness

Get help determining creditworthiness

As it turns out, it is not worth submitting credit applications that are uncertain. Because after a few attempts, you may find that you don’t borrow anything. Help is invaluable in such situations. Whether it is a broker or a bank employee or a special website. Alone, most often we can not determine it. If you live in the UK and your applications are rejected by banks because you have a low credit score, work on improving it. This way you will effectively increase your chances of getting a favorable loan.

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Home Savings Checkout: Which to Choose? – Loans /home-savings-checkout-which-to-choose-loans/ /home-savings-checkout-which-to-choose-loans/#respond Sat, 14 Sep 2019 14:30:37 +0000 http://www.fryertuckchicken.com/home-savings-checkout-which-to-choose-loans/ Read More "Home Savings Checkout: Which to Choose? – Loans"]]>

There are three companies competing in the home savings market, Good Finance, Goodbank and E-Money.

E-Money lures you with a special interest rate, while the other two riders give you a full or partial waiver of the small opening fee. Which one are we better at?

(I’ve written about home savings several times, for example, here: // Brighella / residental savings-penstar-az-evasad-business this is only 4.99% and you even have to use it for home purposes. Virtually any bank deposit is a better deal. If you are interested, read this article.)

The opening fee or the conclusion fee depends on the duration

Type and monthly amount of the contract, for a monthly contract of 20 thousand it usually varies between 28 thousand and 81 thousand HUF. This is what you have to pay when you start, if you open an account like this, this is what you usually pay agents for.

This is now completely released by the Good Finance Housing Savings Bank if we undertake to pay the fee for the entire term from the Good Finance bank account, which will receive at least a minimum monthly credit. (Simply, we will be or remain loyal customers of the bank.) If you only want to commit for 24 months, you will be eligible for a 50% discount on the opening fee. In addition, we must always ensure that we pay the monthly amounts accurately and do not change the contract. Details here.

Home savings tend to have more attainable interest rates

Home savings tend to have more attainable <a href=interest rates” />

Of up to 0.5% -3%. If you want to get a home loan after the savings period, it doesn’t matter which design you choose, because a higher deposit rate is associated with the same higher loan rate. If you do not apply for the loan or you are unsure, we will always ask for a higher interest rate as we will have more money at the end of the savings period.

With this much background information, let’s look at Goodbank Home Savings: if you open your lowest interest rate (funny 0.5% pa) loan plus product line, you can get a contract opening fee, or if you require a home loan at the same time, a higher 1.5% loan max product We can request.

If you want a fun rate of over half a percent

If you want a fun rate of over half a percent

We can ask for a 3% return plus product, in which case the bank will release half of the opening fee. At half a percent, our savings will increase to $ 1,181,653 at the shortest maturity, at a higher 3% product to $ 1,242,228 without government subsidies, while the opening fee is only $ 14,000 more in the second case .

The details of the promotion are here and the terms are here.

Finally, we look at E-Money’s offer. As the contract fee is completely eliminated here, it starts out 14-28 thousand behind the other two bids.

You try to offset this in the first year with a promotional bonus rate, which sounds like a good 10% extra.

The problem is that this is only true for the money we already have and only for the first year, and can only be claimed with the one percent facility. That is, our total profit with the interest bonus is HUF 12,000, compared to a 3% product, we have to deduct an additional $ 2,400 from this because of the lower base rate. Another bonus is that the interest bonus does not bear interest until the end of the term, ie no interest is charged.

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How to become debt free at Good Finance? – Debt Consolidation /how-to-become-debt-free-at-good-finance-debt-consolidation/ /how-to-become-debt-free-at-good-finance-debt-consolidation/#respond Fri, 13 Sep 2019 19:12:06 +0000 http://www.fryertuckchicken.com/how-to-become-debt-free-at-good-finance-debt-consolidation/ Read More "How to become debt free at Good Finance? – Debt Consolidation"]]> Having loans today is common, this can be loans of various kinds, everything from housing and car loans to other loans that have been taken for different reasons.

Regardless of the loan, it is important to pay this on time in accordance with any installment plans. If the loans are not paid according to a stipulated plan, the loan will eventually go all the way to Good Finance, which has the task of helping to recover debt.

When borrowing

bank

To take out loans, different guidelines can be set to take them. Larger loans have more rules for obtaining these, while smaller loans generally do not have as high requirements for taking this. Blank loans are loans that can be taken out without collateral, but then they are also at a higher interest rate, but a good alternative if a loan needs to be taken.

To consider before loans are taken to minimize the risk of ending up at Good Finance:

  • Review the interest rates and what amortization requirements are placed on the loan
  • What the repayment plan looks like is important to review beforehand, in order to keep the budget
  • It is important to compare different loans with each other to take the most advantageous
  • Quick loans are possible, for example a sms loan with payout in the evening can be a good alternative for those in need of money quickly when most lenders have closed.

Step-by-step guide on how to become debt free at Good Finance

bank

By taking too many loans, this can lead to large debts, debts that cannot be repaid from their budget, which then leads to the debts ending up at Good Finance. How should an individual go about when the debts have become so large that they end up with the Crown Magistrate?

  1. A first step is to review their own finances, see if more revenue is possible to collect and minimize spending as much as possible.
  2. The expenses can be large and even unnecessary in a tough situation, because it is important to cut them down as much as possible until you are debt free again.
  3. When the income and expenses have been reviewed, it is time to review the loans. How big are the loans? Are they with one or more lenders? When should all loans be paid and ready?
  4. When the loans have been reviewed, it is important to get installment plans with the respective body concerned. Through installment plans, it becomes fixed figures to relate to, it is easier to get these into the budget as it becomes a fixed amount to repay.
  5. When the loans have been reviewed, a new budget can be created, important to then relate to this and not to attract additional loans after that. Through installment plans, you will then succeed in becoming debt free when all of these are repaid.

When you become debt free

bank

The feeling that all debts are paid is usually felt as a freedom. This usually becomes a lesson after becoming debt free at Good Finance. A payment note remains for three years after the payment is made.

Payment notes can prevent one from taking other loans, even to get a rental contract. Thus, it is important to keep track of their bills and expenses and when debts are repaid to adhere to a clear budget so as not to overstate this.

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New debt brake rules make the structure of credit expansion healthier – Debt Consolidation /new-debt-brake-rules-make-the-structure-of-credit-expansion-healthier-debt-consolidation/ /new-debt-brake-rules-make-the-structure-of-credit-expansion-healthier-debt-consolidation/#respond Tue, 27 Aug 2019 14:06:48 +0000 http://www.fryertuckchicken.com/new-debt-brake-rules-make-the-structure-of-credit-expansion-healthier-debt-consolidation/ Read More "New debt brake rules make the structure of credit expansion healthier – Debt Consolidation"]]>

Mortgage lending may continue to grow dynamically but in a more healthy structure in the future, thanks to the MNB’s new debt brake rules, and fixed-rate residents can calculate their repayments more safely in the long term, emphasized Anikó Szombati, Managing Director of

He drew attention to the fact that four-fifths of new home lenders are already asking for a fixed rate of interest, and last year they took on a much lower rate of repayment than the central bank’s variable-rate loan.

Amendment to its regulation to prevent over-indebtedness

bank

The MNB may announce an amendment to its regulation to prevent over-indebtedness of retail customers in August, after the European Central Bank has commented on it. The regulation, which will come into effect on October 1, sets new additional rules on maximum installments (JTM) that can be paid in proportion to customer income, he recalled.

He added that these rules encourage new home mortgage customers to take out fixed mortgages with a “concrete repayment installment”. Those who fix their repayment installments for 10 years or for the entire term of the loan can spend the same amount of their income on loan repayment as before: up to half of the monthly net income of HUF 400,000, 60 percent – said Szombati.

Fixed rates for a shorter period of time

bank

“Forint mortgage customers with riskier floating rates or fixed rates for a shorter period of time can now rely on having sufficient income reserves if interest rates start to rise,” he said. Their maximum monthly installment installments may be a lower proportion of their income than before: 25 per cent for fixations of less than 5 years and 35 per cent for those between 5 and 10 years.
As a result of the MNB’s action, housing loans will continue to expand at a dynamic pace similar to last year. The move does not affect the volume but the quality of the loans and makes them healthier and more predictable, the managing director emphasized.
Last year, the average JTM rate for Hungarian household loans was only 27 percent. Thus, domestic customers, according to Anikó Szombati, have been cautious in applying for mortgages, mainly at lower levels than the new central bank JTM limits.

The central bank’s move to boost fixed interest rates is also in line with the intention of this year’s new home lenders, with more than four-fifths borrowing at a fixed rate in May 2018, down from just 40 percent a year ago.
According to Anikó Szombati, the MNB would like to further encourage safe credit expansion, and reminded that nearly 60 percent of all home mortgage contracts still have a fixed interest rate of less than one year due to older floating rate schemes. Many customers would therefore consider converting their old loan to a central bank professional, either through a contract modification or a fixed rate loan, such as a qualified consumer-friendly home loan.

The new debt brake rules

bank

Are part of the MNB’s earlier set of measures to spread safe fixed-rate housing loans. In addition to consumer-friendly home loans and the MNB’s mortgage bond purchase program, the Managing Director listed that credit institutions are required to raise the necessary funds for 15% of their home loans through long-term mortgage bonds.
Changes in interest rates over the past decade prove that for typically 15-year home loans, it is hardly possible to calculate with no change in installments – he stressed. “However, whoever chooses a fixed interest rate does not change their monthly repayment during the fixed rate fixation period,” he added.

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Quick credit to fix the car /quick-credit-to-fix-the-car/ /quick-credit-to-fix-the-car/#respond Fri, 09 Aug 2019 11:34:42 +0000 http://www.fryertuckchicken.com/quick-credit-to-fix-the-car/ Read More "Quick credit to fix the car"]]>

We can make a list with endless contingencies that can ruin the daily economy. The disbursement may be due to illness, a broken appliance or having a problem with the car. All are serious situations but many people use the car daily to work or to mobilize.

Perhaps the inconvenience is not something mechanical that we can anticipate, but something totally surprising as a shock! What do we do in that situation where you need the car urgently and can’t wait to collect the insurance money? In this article we tell you how to get a quick credit to fix your car.

 

How do I repair my car if I don’t have money?

car insurance

Sheet metal and paint, change of covers, service, do the VTV: there are many things that we can solve with something more silver. Having the car in condition is key to preserving our safety and that of everyone traveling with us. Avoiding the service or an arrangement for lack Juliet before leaving the route, can be much more expensive in the long term. Luckily, we can access a quick Juliet credit to fix the car in a few steps:

  • I defined the Amount : You have our simulator that will help you see how your personal loan will be formed. On our page the loans are between $ 3,000 and $ 8,000. In this way, you will be able to see if our credit helps you to make that arrangement that you had in mind.
  • Registration : then, we must register and complete a short form with our personal and bank information. All data is confidential. This information is essential for your personal loan to be granted quickly, conveniently and super securely.
  • Confirmation : If the request is approved, you will receive a notification. Then, the required money will be transferred to your bank account.

In addition to being practical, you use silver for what you need and when the due date of the first installments arrives you are deducted directly from your account. Another point to keep in mind of fast credits are the simple requirements to meet:

  1. Be over 18 years old.
  2. Be Argentine or foreigner with ID.
  3. Have legal capacity to contract.
  4. Have a minimum of six (6) months of seniority.
  5. The Applicant must be a bank account holder in one of the
  6. Financial Entities regulated by Law 21,526.

 

Recommendations to fix the car

Recommendations to fix the car

Keeping the car in good condition is very important to maintain its proper functioning and not be devalued so quickly. Over the years, most cars begin to lose their initial brightness but we can take some steps to extend their lifespan:

  • Pay attention to the correct alignment of the tires
  • Review the manufacturer’s recommendations in the engine maintenance section
  • After starting the car, wait a few minutes before starting to circulate to allow time for the oil to properly lubricate the engine

With these tips you can keep your car in good condition, do not miss the opportunity to go for a walk with your family!

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How to borrow as much as we really need? /how-to-borrow-as-much-as-we-really-need/ /how-to-borrow-as-much-as-we-really-need/#respond Tue, 23 Jul 2019 21:06:34 +0000 http://www.fryertuckchicken.com/how-to-borrow-as-much-as-we-really-need/ Read More "How to borrow as much as we really need?"]]>

Borrowing is not bad in itself. On the contrary, it can be very helpful in crisis situations. Taken wisely, payday loans can be useful just in case of an emergency. Especially if we are able to return them quickly. When we can afford to pay off a larger amount gradually, it is worth considering an installment loan. This is a very good solution when we need to borrow quickly, but we do not have to give away all the sum we need immediately.

 

Unexpected situations

Unexpected situations

Many of us have to get an online loan. Sometimes this applies even to people who have a stable financial situation and manage their budget sensibly. Regardless of the circumstances, we should always remember how to borrow responsibly and not approach the problem carelessly. Our mistakes can be very noticeable when we let ourselves be negligent.

We are very often afraid that unexpected expenses will damage our financial stability. Often, instead of a reasonable approach to the problem, we react very emotionally. Sometimes we are even desperate for opportunities to get money quickly. However, the slogan “Loans for free” does not always go hand in hand with the actual lack of costs. It is worth remembering when we are thinking about taking out a loan quickly.

Fortunately, more and more people are looking for help and information on borrowing. It is important to do this before we take out the loan, and not when we have to deal with financial problems. Our creditworthiness can be crucial when loan companies and banks consider our applications. The more it is worth planning our expenses without burdening the loan when it is not necessary for us.

 

Expense planning

Expense planning

Planning is crucial when we want to take on a financial commitment. At the very beginning we should think about how not to overdo the amount of the loan. Moderation and reason must accompany us at all times, including when we choose offers. Proper preparation will undoubtedly help us choose the type of commitment that suits our needs. In addition, if we specify our purpose precisely, we will avoid spending money on things that are not our main need at the moment. Accurate calculation and the most objective assessment of our financial possibilities is the key here. Then, having a full picture of our finances and perspectives, we can act fully rationally.

If you decide on an installment loan, you should work out your repayment schedule. Keeping his arrangements allows you to pay installments in such a way that they are not overly noticeable to us. It is worth following it, because thanks to it we will avoid problems resulting from our neglect. It is better not to settle our financial arrears late, but sometimes it is worth doing it earlier. Many loan companies allow you to pay back loans in installments earlier, which allows you to pay your bills faster.

 

Watch out for the debt spiral!

Watch out for the debt spiral!

If we are in a crisis situation and we are threatened by a spiral of debt, we can also try to pay back our loan. We should look for even small savings (e.g. giving up small pleasures), which in total may amount to more than we think. It does not have to be permanent, but temporary. It is definitely better than taking another payday loan to pay off the previous one. Even small sacrifices can be salutary for us when we have worse moments. If we are not sure whether we will repay our loan, we should refrain from making a decision about it. Maybe this is not the best time for serious financial decisions and it is better to build our credit history first. Only when it looks good will banks and loan companies look at us more favorably.

 

The key to reasonable borrowing

The key to reasonable borrowing

The condition that will ensure us security when we take out a loan is the ability to make reasonable decisions. This must be preceded by a thorough analysis of our expenses and a calculation to predict what we can afford. Therefore, it is worth remembering the principles of reasonable borrowing. They are based on thorough reading of the documents we sign and reading the offers before we undertake payday loans or installment loans.

 

Plan your expenses carefully

Plan your expenses carefully

If we master the art of sound planning, we will undoubtedly avoid pitfalls such as the debt spiral already mentioned. If we are not sure whether we are doing the right thing, we can consult our decisions with Customer Service. When looking for offers, it’s a good idea to read the monthly payday loans and installment loan rankings. If we choose the offers we are interested in, we can combine them to compare the parameters. This is possible through loan comparison websites that give us this option.
As you can see, the art of reasonable borrowing is not something complicated. It is sometimes enough to become thoroughly acquainted with the functioning of the loan industry. This is possible especially in the age of the internet. The tools that are available online and expert opinions will undoubtedly help future borrowers make a sound decision

It is true that the more we learn, the more efficiently we will manage when we apply for a non-bank loan. Planning and meticulous calculation will undoubtedly save us from unreasonable behavior.

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How do I measure my borrowing capacity?- Loans /how-do-i-measure-my-borrowing-capacity-loans/ /how-do-i-measure-my-borrowing-capacity-loans/#respond Sat, 15 Jun 2019 11:31:23 +0000 http://www.fryertuckchicken.com/how-do-i-measure-my-borrowing-capacity-loans/ Read More "How do I measure my borrowing capacity?- Loans"]]>

Just before applying for a loan to buy a vehicle (new or second-hand), it really is worth stopping to think for the moment about fixed expenditures and possible over a complete month. In this way, it will be more clear how much money will go to the financial debt to be incurred. In this way, exactly our borrowing capacity is in fact obtained.

To put it briefly, it is an essential factor in understanding our payment potential plus knowing how to cover short-term financial obligations. Therefore, financial knowledge will be welcome for a day nowadays.

What is the capability to pay?

bank

This is the optimum amount of debt without endangering the financial integrity of individuals at any time. According to experts, between 35 and forty percent of monthly income. These are calculated by subtracting total fixed income.

For this reason, it is essential in order to calculate how much income plus expenses are produced 30 days by month. An example of a set expense is the letter from the mortgage, payments in grocery stores and food or the expenses of our children’s school. For this must be added the adjustable expenses, in holiday intervals or events, for example.

How to measure indebtedness?

How to measure indebtedness?

After knowing the quantities, income expenses are deducted. The result must be multiplied simply by 0. 40, that is, forty percent. The remaining figure is the cash that can be used for debt, that is for the car loan, which will match the monthly bill. With this easy method, how to know our borrowing capacity is the simplest.

Let’s demonstrate with an example: starting from an income of 12, 000 pesos, you can allocate a maximum of four, 000 pesos to financial debt. Taking this step in advance can avoid many subsequent headaches.

Financial information, key to success

Financial knowledge, key to success

In short, a sufficient percentage should be allocated to the debt as to not interfere with the rest of the monthly costs, both fixed and ultimate. Otherwise, we would be residing above our means plus it would be very difficult for us to reside day to day without depriving ourself of essential expenses.

In addition, in the event that the previous debt has already been sustained, it is advisable to write off this particular first one in order to encounter the second one under ideal conditions. Our peace of mind should prevail in any case.

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