MonthMay 2019

How to get a loan

Consumer needs loans can be arranged in several ways:

  • apply to the bank branch with documents;
  • apply through the website of the banking organization online;
  • call the hotline.

The specialists will check the credit history and the documentation provided and contact the client within three working days. After that, you will need to go to the bank branch with the original documents to complete the transaction and receive cash. If a guarantee is issued, then it is necessary that the guarantor leave his signature in the contract, and also the original documents must be submitted.

 

It is possible to submit an application in electronic form, to receive an answer – also remotely to a mobile phone or mail. From the date of a positive decision, you can withdraw money within 30 days. If the financing is not completed within this period, an application will be required again.

 

Registration via the Internet

loan Registration via the Internet

To apply remotely, you need to select “Consumer loans” in the “Credits” section. Then click on the menu “loan processing.” At the bottom of the page there will be a link with the name “Loan Application”.

 

Before you apply, you should decide on the type of lending. Standard offers differ only in term and interest rate, there are also special options, which will be discussed later. After selecting the name of the program, the system will show the term and interest rate.

 

Next you need to fill in the data on possible income and expenses. At this stage, we recommend to provide reliable information, because if the specialists consider that the borrower intentionally enters incorrect data or tries to hide any information, then a negative decision on the possibility of lending will most likely be made.

 

After that, the system will calculate the maximum available amount, as well as offer the option of the size of the monthly payment. It will be broken down into payments on the loan body and interest on the loan agreement.

 

Next, you will need to fill in contact and personal information: information on the place of residence and registration, passport data, family composition and others. Thus, the application will be formed and transferred to the work. After 3 working days, you can expect feedback from the company with a positive decision.

 

Refinancing

Refinancing

With the help of the refinancing program, you can pay off your current debt by drawing up a contract in Bbunbank. The company will make payments by closing the contract, while the debt will be processed in Bbunbank on new terms more favorable to the borrower. In this way, it is possible to repay both loans in this bank and contracts that have been executed in other financial institutions of the Republic of Belarus.

 

Interest on the contract is also set floating and depends on the refinancing rate. The maximum loan duration is 10 years in the case of mortgage lending and up to 7 years under consumer loan agreements. And the rate in both cases is equal to the refinancing rate from the National Bank + 3%.

 

Terms of Service

Terms of Service

In addition to standard requirements, a banking organization sets forth additional conditions for refinancing:

  • the contract that is subject to refinancing must be executed on the same individual;
  • there is no current overdue debt. In the course of payments, no more than two delinquencies of 8 days in duration were allowed;
  • more than two months have passed since the date of financing the loan;
  • according to the actual repayment schedule, at least three months are left until the end of the loan term.

 

Additional documents

Additional documents

In addition to the basic certificates, the bank will need to provide a certificate from the current creditor, where the following information is posted:

  • F.I.O. (for whom the contract is drawn up);
  • the amount of current debt;
  • information about the presence or absence of the current delay;
  • details of the company where it is necessary to transfer money to close the contract;
  • account statement, which reflects information on the crediting of funds.
  • Valid bank certificates can only be within 15 days from the date of their formation.

Learn All About Micro and Small Business Loans

The economy is showing signs of recovery . This makes the environment more conducive to lending to micro and small businesses. But what are the necessary steps to have no problems with financing and attract more customers to your business?

The answer you will check in this post. In it, we are going to give valuable tips to entrepreneurs to intelligently assess the need for credit and to avoid losing control of finances to the utmost.

We will also give suggestions on the procedures for getting a loan on favorable terms and not waste too much time on the bureaucracy. We will also show how entrepreneurs should choose a line of credit and negotiate a financing with a financial institution. Check out!

How do I know if I need a loan for my company?

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At a time of swings in the economy, one needs to think about how a loan can help the company stand out. Sometimes, the entrepreneur has a strong desire for the business to grow quickly and ends up taking a step higher than the leg. How can this mistake be avoided?

The answer is to see if you really need to get a loan. The measure should be done by analyzing the purpose of money. In general, organizations take out loans to have greater working capital and increase the bargaining power with suppliers, which is very important to make attractive deals for consumers and expand sales .

Entrepreneurs can also evaluate the possibility of having debt relief. In this case, the initiative should cause the company to enter into an agreement with the financial institution to repay the installments more easily and increase the investment capacity . Otherwise, the action may make it unfeasible to maintain the business.

Tip: Learn which types of credit can be used to clear debts.

Another aspect that weighs when it comes to getting a loan is to seize the opportunity to grow with sustainability . For example, imagine a restaurant that is expanding the customer base than expected and has the potential to increase the ability to receive customers.

However, it will be necessary to do a work of expansion that will require financial resources not available at the moment. Undoubtedly, a good alternative for the company in this case is to opt for financing.

Fearful of contracting almost priceless debts, some entrepreneurs have a resistance to joining loans for micro and small businesses. This can be easily solved when estimating the impact of interest on installments and the ability to pay installments.

If the financing will provide a positive return in the short, medium or long term, it is a sign that the timing is appropriate to risk and leave the comfort zone . Of course, this action should be done with enough prudence not to seriously compromise the financial health of the business.

Tip: Understand why a loan can be considered an investment

How do I know if I can get a loan for my company?

How do I know if I can get a loan for my company?

Choosing the right time to opt for micro and small business financing and establishing how resources will be used are undeniably essential measures to achieve good results .

Therefore, it is recommended, before taking a loan, to make an assessment of the economic scenario quite accurately and accurately. This task should answer some questions, for example:

  • How much money do I have available to invest?

  • What is the indebtedness capacity of the business?

  • What are the expenses that have the greatest impact on the organization?

  • What is the level of billing?

  • What is the revenue forecast for the coming months and years?

When doing a financial analysis and a sales estimate, a company will be in a better position to evaluate whether or not it can get a financing. Depending on the scenario, you have to wait a little longer so you do not make a serious mistake in running the business.

Many companies end up closing the doors, because they do not properly analyze the capacity of indebtedness. Another important measure to evaluate the viability of a loan is to measure how this investment can impact the quality of services .

Depending on the circumstances, an entrepreneur chooses to reduce expenses with suppliers and employees to pay the installments. On the other hand, this can seriously affect the service offered, generating risks of alienating clients.

Reclaiming a consumer is a virtually impossible task. Therefore, loans to micro and small businesses must be done with enough intelligence, so as not to affect the services rendered.

Having fewer customers is often synonymous with less revenue. That is, less money to pay the installments. This scenario causes the debt to become priceless, leading the entrepreneur to bankruptcy.

If an entrepreneur is unsure whether to finance a work or obtain more working capital , it is worth having the help of consultants from a credit union or other financial institutions. Being well informed is one way to make the right decision to keep the organization running smoothly.

Tip: How can a loan help your company stand out?

What are the main types of loans for micro and small businesses?

It is impossible to understand the need to opt for financing, to choose the right moment to contract this type of investment and to study the feasibility of doing so without seriously studying financial health .

There are several loan options for micro and small businesses. Knowing them is a great way to avoid problems with the increase in benefits caused by high interest rates.

To help you keep your accounts up to date and the high level of service quality, we will present financing alternatives designed for low-income corporations. Follow us!

Overdraft

It is a form of loan widely adopted by citizens and legal entities. However, this does not mean that it is an interesting financing option to be used without proper planning.

By accommodation and lack of control, entrepreneurs end up taking this feature routinely. That is, it is as if it were part of the company’s budget. This measure should be avoided to the maximum, because this type of financing has one of the highest interest rates on the market.

In order to avoid high debt due to the excessive use of overdraft, the tip is to negotiate with the financial institution the interest rate and the available value, for the company to use it in cases of extreme necessity.

The ideal is not to use overdraft to count on working capital. The most appropriate is to adopt it to pay unexpected expenses. In this case, the entrepreneur must be sure that the money used will not impact the progress of the business in a significant way.

Guaranteed account

With a lot of similarities to the overdraft, the secured account is another loan option for entrepreneurs. It consists of a revolving credit in which the interest is directly related to the amount used.

To rely on the money, the entrepreneur provides the financial institution with some type of guarantee, such as the duplicates. In relation to the overdraft, it has as main advantage a lower interest rate .

The guaranteed account is widely used for the purchase of equipment and raw materials. In addition, it stands out as offering entrepreneurs a great freedom to use the financial resources, which helps to give more dynamism to the business.

Other credit lines

Overdraft and guaranteed account can be good quick cash options for a business as long as this is done with planning. In the family agriculture segment, the investor must carefully analyze the alternatives to obtain more financial resources.

One is microcredit – aimed at small entrepreneurs who are starting a business or wanting to invest to improve performance. One of the great advantages of this type of financing is the attractive interest rate.

Microcredit is provided with low interest rates and terms that are generally adequate to the investor’s financial situation. This is essential for the entrepreneur to control spending and pursue sustainable growth .

Another attractive alternative for the granting of rural credit is the Employment and Income Generation Program (PROGER), created by the Ministry of Labor and Employment (MTE) and using funds from the Workers’ Assistance Fund (FAT).

Aimed at micro and small businesses, this program allows you to obtain working capital in a simple and fast way or to capture resources to improve services. An entrepreneur can get a loan to buy, for example, cargo vehicles that will be used to transport production.

Tip: The advantages of cooperative loans compared to banks

What is the ideal loan for my company?

Undeniably, it is not a simple task to identify the best financing option for a company. To make the ideal loan, it is imperative to research hard and ask the opinion of consultants of financial institutions, such as credit unions .

Borrowing money without proper planning is an unacceptable misunderstanding in a scenario that requires a lot of responsibility for finances. Identifying a formula for companies to opt for financing without compromising cash would be a dream come true for many entrepreneurs.

On the other hand, it is possible to adopt some procedures to invest correctly and provide good results for your business. The first step is to establish the purpose of the loan. In this way, it is easier to locate the most appropriate lines of credit for the company.

Another positive measure to assess how financing can contribute to growth is to correctly estimate the value needed to be used by the corporation. This calculation must be done very carefully, to respect financial health and make the investment useful for the growth of the company.

After that, one must assess whether an interest rate is attractive and the impact it will have on the parcels. It is also appropriate to analyze the amount of benefits to be paid, which corresponds to the time of the financing (6 months, 1 year, 2 years, 5 years, etc.).

If there is a shortage to start repaying the loan, the entrepreneur can have a greater tranquility in the management. This enables you to plan and reserve the financial resources so as not to compromise the ability to honor commitments to various segments of the target audience , such as employees and suppliers.

Before opting for a financing, it is interesting to check with the financial institution to renegotiate it. Depending on the cash flow , it is feasible to remove it faster or require more time to finalize the payment.

If you are completing the financing in a shorter period, consider reducing interest rates to have a larger discount on the installments. If a longer than expected time is required to complete the installments, try to negotiate so that the interest does not make payment impossible.

It is very important to seek a transparent negotiation with the financial institution before signing the contract. As the rules of the agreement are clear, the less likely it is that unpleasant situations will occur. In addition, the company will be more able to seek solutions to honor the benefits if there is any difficulty in attracting resources.

Tip: How to make the ideal loan and use it the best way in the company

How to get a loan for micro and small businesses?

How to get a loan for micro and small businesses?

It is not enough to plan, present a good idea, count on money and do a financial analysis of the company to get a financing. It is also crucial to follow certain procedures requested by financial institutions .

Therefore, the recommendation is to know the most requested actions for the release of credit . One of them is the presentation of the social contract, which proves the existence of the legal entity. This document presents data on the purpose of the organization, the products or services offered, the place of operation and the initial capital applied.

In micro and small business loans, it is relevant to show the balance sheet . In it, there is information about the economic and financial conjuncture of the corporation. In addition, data related to assets, revenues, expenses and possible debts are available.

A very requested procedure for companies, before borrowing money, is to present copies of the Corporate Income Tax Declaration (DIRPJ). This document must be sent annually to the Internal Revenue Service and must be presented in full to prove the fiscal regularity of the company .

Depending on the financial institution and the loan to be negotiated, other documents may be submitted. An example is the analytical balance sheet that covers data on cash flow and needs to be routed with the Statement of Earnings (DRE). This must be done within 120 days from the date of the credit application.

This set of measures of financial institutions has as main objective to verify if the companies are able to repay the loan. This is essential to combat defaults and prevent contractors from experiencing financial difficulties.

Being well informed about the documentation is essential to have an easier time getting credit and suffering less with paperwork. Losing a lot of time to resolve issues with a financial institution can disrupt the progress of the business because it will impair the ability to obtain working capital or delay the start of an important work for expansion.

Tip: All you need to know about rural credit

How to get the best loan conditions for my company?

As much as an entrepreneur knows how to offer high-quality products and services to clients, it is necessary to have an intelligent management of finances. In a scenario of economic instability, managing the budget responsibly is crucial to the survival of any business.

One of the reasons is that this posture contributes to borrowing on favorable terms of payment. It is not enough just to have a creative idea about how to use money to make the venture more interesting for the target audience . It is essential to verify the conditions of paying the installments of a loan.

This only becomes feasible with planning that tells how the organization can take the plots. It is also important to make simulations of how the installments will go before closing the contract. Thus, the company has more possibilities to analyze if it can pay the financing.

Another measure that allows a corporation to borrow on more favorable terms is to show to the financial institution that it has credibility with suppliers. The reputation of a good payer helps a lot to negotiate a lower interest rate, making it easier to settle the installments. This is great for getting working capital for micro and small businesses.

An entrepreneur can not afford to research the options available in the market to ask for a financing. There are credit unions that offer interest rates and payment terms that are more advantageous than most banks.

The ability to convince analysts of a financial institution that can honor the commitments is a good alternative to borrowing for micro and small businesses in a favorable situation. The faster you pay the installments, the greater the chances of getting the return on the investment in the short term.

Tip: Learn how to make your small business grow in a sustainable way

How not to fall into a priceless debt?

How not to fall into a priceless debt?

Imagine that the owner of a bakery has opted for a financing to buy a more modern oven. It is certainly an action aimed at increasing productivity and improving the quality of customer service .

On the other hand, this can become a serious problem for the company, if there is a care in checking how the payment of the benefits will interfere in the progress of the activities.

Delaying the discharge of one or more installments may trigger a financial crisis that will only be resolved with the manager showing a great bargaining power. The ideal is to adopt some procedures so that debt does not become priceless, such as:

  • analyze the financial situation before signing the contract. Thus, the company has more security in applying the money;

  • opt for loans that offer a good grace period to begin paying the installments;

  • to pay the installments according to the date stipulated in the contract, to avoid the incidence of even greater interest;

  • verify the possibility of renegotiating the debt, for the company and the financial institution to be satisfied with the business;

  • properly managing the company’s revenues, not confusing the resources of the corporation with those of the managers themselves;

  • maintain the peace of mind not to close a contract hasty, without evaluating other financing options.

It is also indicated to have a responsible attitude towards the expansion projects of a micro or small company. If possible, it is best to run it in stages. In this way, there will be fewer risks of seriously affecting the budget with expenses directed to a work or acquisition of various equipment.

Entrepreneurs can seek the help of credit union advisors and other financial institutions to understand the workings of the loans and the care they need to avoid getting involved with debts that will affect the continuity of the business.

How to evaluate the opportunities to make a loan?

How to evaluate the opportunities to make a loan?

It is natural that many entrepreneurs are worried about investing because of the fear of not properly planning the impact of a funding on the activities of the organization. With the lowest interest rates, there is less risk of not being able to pay the installments on the due dates.

Before looking for a financial institution , an entrepreneur must assess whether a loan can be considered an investment. By adopting this measure, he shows that he is aware of the importance of credit for the business to be more profitable and attract more customers in the short, medium and long term.

Another action that helps to get good results with a loan is to talk with business owners who have opted for this type of investment. Finding information about how financial institutions behave with customers increases the chances of choosing the most appropriate financing for the company’s financial reality.

In the case of family farming, entrepreneurs have several credit line options through the National Program for Strengthening Family Agriculture (PRONAF). Features can be used for various purposes, such as:

  • acquisition of inputs used in production;

  • purchase of equipment;

  • works for implantation, reform or expansion of a company;

  • investments in irrigation, drainage and land reclamation;

  • support to invest in technical assistance;

  • rural electrification and telephony projects;

  • recovery or renovation of machines used in rural activities.

It is essential to evaluate how a loan can help a company to stand out from the competition. Choosing a loan because it is simple to get credit is a serious mistake.

 

How to Get Out of Debt Quickly in 2019: 15 Infallible Tips

There is a recurring question among people who were unable to pay their bills on time and became indebted: after all, how to get out of debt?

This unpleasant situation takes away the sleep of many people, besides stimulating decisions that are not always healthy for the discharge of debts .

If you are also going through a similar situation and wondering “how to get out of the red?”, We can help. Check out today’s article 15 effective tips for getting back into financial balance .

What are debts

The concept of debt has to do with someone’s obligation to pay something. That is, debts are the accounts payable . In general, debts are not bad.

It is through them that most people can acquire some good, whether for personal use or to invest in some business. They are called good debts.

The problem happens when we get bad debts that is when we buy something on a recurring basis.

Two major causes of debt are the lack of financial control and unemployment caused by the various economic problems that hit the country.

Unable to honor the commitments made, the person becomes indebted and runs the risk of having the name included in the credit protection services which makes it difficult to carry out new transactions in the market.

Is it possible to get out of the red even by earning little?

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Despite having many accounts accumulated, the good news is that it is possible to get out of debt even if you earn little .

To get out of debt, you need to face reality and identify all your debts, know what financial situation you are in and establish a value to be saved monthly.

Another tip for getting out of debt quickly , even with a tight salary is to get another source of income, preferably exploring your skills. And, of course, studying on the subject is key to not getting into debt again.

But first, know that earning little is not synonymous with debt . Regardless of whether you receive a high or low salary, what should be prioritized is balance and financial control .

Otherwise, debts arise, accumulate and turn into a snowball, as you will see below.

How does the snowball effect work? How to get rid of accumulated debts?

How does the snowball effect work? How to get rid of accumulated debts?

The snowball effect happens when you ignore that you are in debt and continue to make financial commitments that you can not honor.

Or, when you stop paying your credit card bill for consecutive months to the point where you can no longer settle the total amount.

This situation is very common and is what most contributes to the accumulation of debts. So, in order not to get to that point, it is important to get out of debt as soon as possible.

How to get out of debt quickly? 15 Tips

How to get out of debt quickly? 15 Tips

Putting these 15 tips into practice, you will also discover how to get money to pay off debt , be free of charges and will be able to breathe and sleep peacefully. All this in a short time. Check out.

1. List Your Debts

To know how to get out of debt this is the first step to get rid of delayed tickets .

It’s time to face your reality. Write down in a notebook all the bills you need to pay. Put not only the value but the lender, the interest rate and the due date.

This moment is important because it gives you an overview of everything you owe. It can be a bit scary because you may not have the exact notion of these numbers, but you have to face it.

The idea is not to make you feel guilty for getting to that point, but to understand the moment, to have the courage and willingness to seek a solution to the problem before it becomes worse.

2 . Use a Personal Loan to Pay Your Higher Interest Debt

Once you list all your debts, it’s time to choose the ones with the highest interest rates.

They are the ones that should be eliminated as soon as possible because the longer they last, the more interest rates increase and the more you pay when you take them off.

But how do you get out of the debts you have selected? The quickest and most efficient alternative for that moment is the personal loan . And we of Credit Lender can help with this!

This type of loan has lower interest rates than many other types of debt. Instead of worrying about multiple installments, you will only have to include in your budget a single installment, that of the loan you purchased.

3. Try to Renegotiate Your Debts

Before making any payment it is important to contact the lender and try to renegotiate your debts . The companies you owe are anxious to get paid, so they are interested in negotiating.

Do not be ashamed to request discounts , especially when you know that the interest charged is abusive.

Commit to paying only what is actually possible, whichever fits into your monthly budget. Otherwise, you may get more debt.

Remember that debt renegotiation helps to organize finances

4. Create a Personal and Family Expense Planning

The household budget should always be part of your life. Be sure to do this only when you are steeped in debt.

One of the goals of this planning is precisely to avoid spending more than you earn , making a control and keeping the expenses up .

You can use a notebook to make this control or use a spreadsheet . In this worksheet, you write down all your income, the money that comes in, and all your expenses, the money that comes out.

Write down from the basic expenses like the fair of the month, water, electricity, telephone, etc. Also include variable expenses such as buying a birthday gift or an urgent medical expense, for example.

Expenses with leisure, education, health and debt installments should also be listed.

5. Cut Unnecessary Spending

Once you list your spending on the worksheet, you will find out what those unnecessary expenses are, which can and should be replaced or at least reduced.

Analyze your pay-TV account, internet and phone plan and see the possibility of reducing costs.

Check your gas spending, snacks, and dinners out of the house that have become a habit. Analyze if you have bought things that you do not get to use, too much food and that soon get out of the deadline.

Anyway, study your budget calmly trying to eliminate everything that is not necessary.

At first glance, it may be a little difficult to have to cut back on the mall or the cafeteria, but think of it as a necessary effort to have peace of mind and clean name in the near future.

It is also important to involve the whole family in this step . After all, the positive outcome depends on everyone’s commitment.

Make it clear why you need to make cuts, stipulate a deadline if possible, and encourage everyone to save for a common good .

6. Avoid Creating New Debts

This tip should be followed to the letter if you really want to get out of debt immediately.

Once you choose what you are going to pay, negotiate with the lenders, apply for a loan and do the spending planning, be sure to not make new debt .

Your budget should be as lean as possible, with only the basic expenses and the portion of the loan repayment requested.

Do not make piecemeal purchases that commit several months of your paycheck and avoid going to places where you know you will spend.

7. Create the Habit of Trading

Consider getting a discount on everything you buy from now on.

Take advantage of price reduction offers for up-to-date payments , request the exclusion or reduction of your credit card annuity rate, haggle at the time of making the fair of the month etc.

When we make cash payments, and this should be your routine from now on, we feel safer to ask for a reduction in price.

Do not be ashamed to do this. It’s not an ugly bargain. It’s your money, you know how much you sweated to get it and you must learn to value it. This tip also holds true when negotiating debts .

No matter the size of them, ask for discount. Decreasing a little here and there you can spend less and you can use what you have saved to pay other bills.

8. Buy at sight Wherever possible to get out of debt

To know how to get out of debt is interesting to look at the credit card. The object is a very interesting medium for shopping. The famous plastic money keeps you from walking with cash in your pocket all the time, is accepted in virtually every place and takes a breath in the budget when it’s tight.

But is paying a credit card account a good alternative? Credit card is also one of the big bad guys when it comes to debt.

And if you want to get out of debt all at once, you need to learn to control your card and not be controlled by it. First of all, your credit card should not be your first choice when it comes to buying.

I’d rather do it in sight. Your relationship with money will change a lot if you start incorporating this habit. The feeling of seeing the money coming out of the wallet will make you want to buy less to save money.

Separate all the credit cards you have, list the advantages of it as a real point exchange program and zero annuity. Choose what you consider the best and cancel the others.

If it is necessary to buy something urgent and this is only possible using the credit card, avoid joining the plots to lose sight of.

9.Interview in Financial Education

Knowledge is important to everything and to get out of debt, it could not be different. When we study and learn, we know better what we are living, we discover techniques and behavior that can be crucial in changing attitudes.

So invest in financial education . Many people find that because it deals with numbers, this subject is annoying or impossible to learn, but it is not true.

Knowing more about financial education and its principles is essential not to fall into scams, to consciously shop and to learn how to repay accumulated debts that both jeopardize our lives and our mental health.

Read books and journals on the subject , search for and take free courses on the internet, learn how to use expense spreadsheets. All this will open your mind more and broaden your knowledge.

Over time, the issue ceases to be a seven-headed creature and becomes something yummy you’ll enjoy learning.

10. Define A Savings Goal

Learn how to save a portion of what you get every month. Ideally, at least 30% of your salary should be transferred to a savings account. If it’s impossible for you to save that amount, that’s fine. Save what you can.

The important thing is to create and maintain the habit of always saving . Stipulate an amount that will be saved and as soon as you receive your salary transfer that amount to your account.

You must be the first person to be paid. Do not leave to save only what is left over, because it is likely not about anything.

Another tip is to save all the exchanges left over. Do you know those coins you throw in your purse without even telling me how much you have? Put it all in a piggy bank. When you reach a higher value, transfer to the bank.

In order not to lose focus, think of something you want enough, stipulate a deadline and use the savings for it. It can be a vacation trip, the prepayment of some debt in installments, the exchange of a domestic furniture etc.

Just be sure to always leave a stored amount for probable emergencies.

11. Create Targets For Your Money

Another tip to keep your budget under control is to set goals for your money . For this, you need to analyze the monthly expenses with supermarket, water bill, light, internet, telephone and leisure, for example.

Stipulate values ​​for what can be modified. For example, if your grocery bill usually rotates around $ 600.00 monthly, stipulate for the next month a value of $ 450.00.

To reach this goal, research prices, prefer products from other brands, make substitutions on the menu, etc. The same thing can be done with what you spend with leisure.

Reduce snacks, take advantage of public places to take the kids, and when you leave, set a maximum ceiling that you can spend. Try not to leave this stipulated value.

If you have reached the goal set for an item, be aware that you should wait for next month to start all over again. This practice makes you stronger in the habit of saving money and is more creative when it comes to cooking and having fun.

12. Create an Emergency Fund to Avoid Future Debt

The emergency fund is meant to prevent you from falling into debt again . It should be built over time, as well as savings and, as the name itself says, should be used only in critical, unplanned situations.

Examples of emergencies are the burning of some important household appliance, illness in the family, an unexpected work trip, loss of employment among others.

With this emergency cash available, there is no need to use a credit card, borrow money from someone else or get rid of some good to solve one of the problems mentioned.

13. Consider the Possibility of Making a Credit Portability

Credit portability is the transfer of a loan from one bank to another. The goal is to enable the customer to choose better and lower interest rates .

It may be an alternative for those who do not agree with the interest charged by the first lender bank.

Just contact the bank holding the contract and request the full amount of the debt, for immediate discharge, with the rebate of interest.

This amount is taken to the second bank that takes over the debt thereafter. Also evaluate this strategy to remedy your bank debt .

14.Search Well Before You Buy

Get into the habit of searching before you buy. You will be scared by the price difference that exists between one store and another, even if neighbors.

This tip is very valuable for buying school supplies, for example, but fits in everything you get.

Use the internet to compare prices, visit the stores to check up on what you want and just close the deal after you realize the advantages.

Most supermarkets offer specific days for fruit, vegetable and meat promotion. Enjoy these days to stock the refrigerator. Or visit the free fairs and save even more. And do not forget to ask for a discount.

15.All All To Get Out Of Debt

Separate a notebook to write down all your daily expenses. To facilitate the process, save all receipts and leftovers from purchases made with a credit card. To write down that coffee in the corner, use a small piece of paper to write down the value.

Do this everyday. Then add everything and pass along the total amount to your expense worksheet . At the end of each day or week, analyze everything that was spent, identify when it happened, and whether it might have been different.

For example, if you had to buy a salty snack and a coffee to eat at lunchtime because you forgot to prepare the kettle of the day, organize yourself so that it does not happen again. Worth leaving a reminder on the phone.

Can You Debt Even Gaining Well?

A lot of people think that they only get in debt who earns little. In fact, this is not quite what happens. Whether you win well or not, everyone is liable to accumulate debt. Sometimes they are only different in value.

Consumption habits directly interfere with the accumulation of debt , as well as the need to fit into a pattern that is not yours, but which causes satisfaction in oneself and in others, as well as promoting social status.

Changing cars every year, making international trips on vacation, buying clothes and other expensive objects because all the friends are doing the same can completely destabilize the domestic budget. Especially if there is no financial education.

That is why it is vital to live well within what your conditions allow, to know where your money is going and to save when you need it.

Conclusion – Get Out Of Debt By Definitely Using A Personal Loan

Conclusion - Get Out Of Debt By Definitely Using A Personal Loan

Are you in a tight situation and have no one to turn to? Make a personal loan with Credit Lender and get out of debt immediately. Compare interest rates and realize how much you can save by sticking to that credit alternative.

Following all the tips on how to get away from debt, you will be much more prepared to deal with your money and finally get out of debt. Get to know the Credit Lender and find out how we can help you!