Loans are facilitated credit options offered by banks or financial institutions, which must be paid within certain time limits, but with the addition of interest and charges. There are different types of credit, payday loan consolidation, which can help in key moments of life, such as unexpected health problems, paying debts, clearing late bills, buying a car or home, etc.
However, in some situations, borrowing can be a bad thing when you need money. After all, the amount should be paid with interest that is determined by the bank or financial institution itself, and the installments must be integrated and fit into your monthly income or you run the risk of becoming defaulter.
According to data from the Credit Protection Service (SPC Brazil), the number of consumers with overdue accounts and registered in debtor registrations increased in the first half of 2018, with approximately 63 million CPFs restricted due to non-payment. You have to be careful, because what seemed to be a solution can become a problem. Check out the following bad situation tips for applying for a loan.
Borrowing just for the money without having a clear goal can become a trap because you can spend it without realizing it and creating difficulty at the time of payment. Try to set a clear goal for it to ask for the exact amount needed, be sure you will have to pay the amount borrowed with interest.
Avoid borrowing money for superfluous purchases. Evaluate whether what you want to buy can wait and save money to buy cash in the future. Remember that all types of loans involve high interest rates and should fit your budget. Plan to avoid getting unnecessary debt, use the option of the card rotary or overdraft only in emergency situations.
You know that ballad with friends over the weekend? You have no money to go? Maybe I should stay home. Use the loan option only for emergencies. Avoid compromising your budget with non-essential situations. Remember to make a financial plan so that you can identify your expenses and get a little money left to satisfy some desires.
Do you want to travel on holiday or do you want to go to that new amusement park a lot, but you’re out of money? How about using the card rotary or special check only this time? This may be a bad idea. Especially if you are not sure if you will be able to pay the amount spent. What if something unexpected happens? The accrued interest of these two types of credit are the largest on the market and can become a snowball.
Do you know that Pinterest room or photo room? Wonderful, is not it? But, do you need it so much? Before you think about using money you still do not own to buy furniture and decorations without need, rethink and evaluate whether your current financial situation allows you to have these expenses without compromising other priorities.