Budgeting – Savings or Credit?

Want to make a home repair with your family, but you didn’t plan it well in advance, and this month’s salary suggests you wouldn’t want to change your business environment unless you call for a loan of up to $ 1,000, for example? A great help for this and other unscheduled spending is the savings you can make yourself – save every month the amount you want for a safe future! We, Msarlen, will tell you how to make savings, why you need it, and what to do if you want to say no to savings. Read on and get acquainted! An explanation over at cocinaconcarmen.com

What is Savings?

What is Savings?

Savings are often referred to as a “safety cushion” – a deposit for unexpected events, such as expecting a family, losing a job, etc. It’s simple – just imagine that a certain amount of money has not been spent this month. It can be used in two ways:

  1. you can spend that money to buy a product or pay for a service, but be careful and think carefully about whether you really need it at this point in time and if there is no better use of the money tomorrow;
  2. you can deposit and use that money when you really need it.

If you opt for a deposit, you should not be limited to making money in a sock, but doing it wisely and intentionally.

Saving tips

Saving tips

To help you save money successfully and avoid having to go to your bank or non-bank lenders in case of unwanted spending, here are some tips :

  1. the real day is today. Don’t worry if you haven’t made your savings before and don’t put it off for tomorrow. It is observed that, in most cases, families who regularly deposit less than those who rarely but large accumulate more money;
  2. step by step. There is no need to try to put off half the monthly salary every month, which can result in you having to give up even everyday things. Studies show that it is best to invest 5-10% of your monthly salary. If you think this number is too high, start with a smaller amount. If the opportunity arises – invest more;
  3. initially an airbag, then a target . When you have a so-called airbag designed for unexpected expenses (on average three months’ salary), set a goal you would like to save, such as paying for your child’s education, traveling or a gift. This will increase motivation and help you delay your planned amount of money even when another purchase seems more important;
  4. safety concerns. Homeowners often seem to be the safest place to store money, but home is also unsafe – there is a risk that shepherds will fall prey, and as a result of years of diligent savings, as the world changes, your money will be protected because it is guaranteed by the state.

Not everyone trusts deposits and not everyone has the option of deferring even a minimal amount from their monthly income. What to do?

What to do in unplanned situations if I do not want to make savings?

What to do in unplanned situations if I do not want to make savings?

A study by the Financial and Capital Market Commission, conducted in cooperation with the SKDS research center, shows that 48% of Latvians believe that savings should be made when needed, but only 31% actually make it, so the question arises do the rest of Latvia act in situations? There are two ways to get help:

  • to relatives or acquaintances. Those closest to you will not refuse and make up for the shortage of money, unless your own financial situation allows it. Remember that in this case too, it is advisable to make sure – enter into a contract as this will help if there is a dispute during the refund;
  • with lenders in the banking or non-banking sector. The so-called fast credit, up to $ 1,000 credit, interest-free loan – these are all relatively easy to obtain and can be repaid in a month or up to 12 months, depending on the amount of the loan. Lenders often offer favorable repayment terms, even for loans of up to $ 1,000 or more. We, Msarlen, are confident that we have all the benefits

Why is a loan of up to $ 1000 at a quick lender a handy option?

Why is a loan of up to $ 1000 at a quick lender a handy option?

There are three main rules that grant a number of advantages to non-bank lenders. What are they?

  1. Speed. Come in, fill in, wait and receive – just as easy and relatively quick to get a quick loan. You can get it in your bank account within 5 minutes if you make a request during our business hours and the transfer will be made within one bank.
  2. Convenience. Loans with fast lenders are convenient because you can apply for them anywhere, whether you are sunbathing on a Spanish beach or on the couch at home. The most important thing you need is an internet connection and accurate personal data.
  3. Simplicity. You only need to visit the lender’s website to get up to $ 1000 in credit to your account, you won’t even have to leave the house. Compared to obtaining a loan from a bank, this is a much more convenient way to plan your daily schedule and avoid delays.

An additional rule we provide is absolute data confidentiality. Every customer can be assured that his or her data will be stored with us and will not become the property of strangers.

How to check the lender?

How to check the lender?

However, not all lenders are always honest. How to check if a lender is trustworthy and loyal to its clients? There are two ways:

  • explore all available information about the lender. The information published on their websites is not sufficient to understand the actual situation of each lender. You are neither the first nor the last lender of a lender, so you can be sure that any client’s feedback will definitely be publicly available on the Internet, just look carefully. Lenders are also often talked about publicly by creditors on television or in interviews with other journalists who are worth listening to;
  • carefully read everything in the contract. Remember, once you sign your contract, you won’t be able to make any changes. In order to save yourself from undesirable situations, the probability of which is not excluded, check everything included in the credit agreement. Imagine you are just entering into a contract with a loan of up to $ 1,000 and suddenly a number other than you intended. Perhaps the contractor’s inaccuracy was to blame, but you will be the victim in the end, and there is no need for extra care!

Any loan, especially a quick loan of up to 1000 USD, should not be seen as a common borrowing opportunity. It’s wiser to make your own savings as a result of which:

  • will not have to overpay. When borrowing from a credit institution, especially if it is a loan of up to $ 1,000 or more, has a certain interest rate that will be repaid, you can be certain of how much you invest and get paid back, without having to pay someone else purse;
  • there will be no risk. When borrowing from someone you have to take into account that the amount has to be repaid, so before you make a loan you have to evaluate your personal situation so that later repayment does not cause any more financial difficulties.

If you still feel that you do not need to make savings and would prefer one of the types of loans offered by the banking or non-banking sector in unplanned situations, carefully consider repayment options!

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