Facebook Twitter Instagram
    LocalLoans
    • Finance
    • Personal loans
    • Home loans
    • FNB Calculator
    • Debt
    • Financial tips
    • About
    • Contact
    Facebook Twitter Instagram
    LocalLoans
    Home»Financial tips»Our Best Advise When You Need a Loan
    Financial tips

    Our Best Advise When You Need a Loan

    adminBy adminOctober 21, 2015Updated:October 21, 2015No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Need a Loan
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Very few people go through life without ever having to borrow money. Who has the cash to buy a house, or to fund tertiary education? But here’s what to do when you need a loan.

    1. Borrow as little money as possible.

    If you need R4 000 to pay your taxes, or your kid’s school fees, don’t be tempted to borrow more than that to ease your general financial burden right now. Borrow just what you need, otherwise later repayments could be crippling.

    1. Choose the institution carefully.

    Make sure the place you borrow from is a registered financial institution. They have to operate according to certain rules and regulations and interest rates are fixed. Compare banks and see where you can get the best deal.

    1. Stay away from loan sharks.

    Going down this road can be the beginning of years of financial misery, as many of these moneylenders charge huge interest rates. It is very difficult to escape from this cycle, especially when you end up having to borrow more to pay for life’s necessities as there’s nothing left once you have paid the loan shark. Don’t ever let anyone take your bank card and your ID book.

    1. Borrow just for certain things.

    Borrowing to fund your children’s education or a home loan can be a good thing, but unless there is a once-off crisis, try never to borrow money to pay for consumables, to pay off other debt or to fund luxuries. An expensive holiday or designer clothing can condemn you to a lifetime of debt.

    1. Plan the repayments beforehand.

    Before you apply for a credit card, store card, overdraft, personal loan or any form of credit plan carefully on how you are going to pay this back. Also take into consideration the interest and other charges, as well as how this will affect your ability to save. The longer you take to settle a loan, the more it will cost you.

    Share this:

    • Facebook
    • Email
    • LinkedIn
    • Twitter
    • Print
    loan-advise need-a-loan
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    admin

    Related Posts

    5 Roles Of A Credit Analyst

    June 14, 2019

    Benefits Of Corporate Social Investment

    June 14, 2019

    5 Facts About The 2019 Elections

    June 14, 2019

    Leave A Reply Cancel Reply

    two × one =

    Recent Posts
    • 5 Roles Of A Credit Analyst
    • Benefits Of Corporate Social Investment
    • How To Qualify For A Wonga Loan
    • 5 Facts About The 2019 Elections
    • Quick Ways To Check Your Credit Score
    Recent Posts
    • 5 Roles Of A Credit Analyst
    • Benefits Of Corporate Social Investment
    • How To Qualify For A Wonga Loan
    • 5 Facts About The 2019 Elections
    • Quick Ways To Check Your Credit Score
    In the News
    • Capfin Loan Calculations
    • Loans Without Affordability Checks
    • Woolworths Sms Account Application
    • Apply for a Capitec Loan Online
    Recent Posts
    • 5 Roles Of A Credit Analyst
    • Benefits Of Corporate Social Investment
    • How To Qualify For A Wonga Loan
    • 5 Facts About The 2019 Elections
    • Quick Ways To Check Your Credit Score
    Recent Posts
    • 5 Roles Of A Credit Analyst
    • Benefits Of Corporate Social Investment
    • How To Qualify For A Wonga Loan
    • 5 Facts About The 2019 Elections
    • Quick Ways To Check Your Credit Score
    Facebook Twitter Instagram Pinterest
    © 2023 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.