07/04/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Source: UOL - Economy
For many, an economic crisis, the solution is to take a loan. But before you run to the bank or the nearest funding, see some precautions you need to have to not get a cold:
1. Review the current financial situation
"No one should get credit before understanding how it got to this situation of debt and how you can solve it," says educator and therapist financial Reinaldo Domingos.
Find out how much you spend each month and where your money goes.
2. Reduce spending
Gather the family and analyze the costs to balance input and output money.
"If the individual spends more than it earns, get a loan will only get worse. He will fight the symptom, not the cause," said the expert. The financial housecleaning includes planning of accounts and reducing spending.
3. Define the purpose of the loan
To avoid the risk of using the money to create new debt, you will need to have a clear purpose for the loan and make sure that will solve the problem.
A loan may be valid to change a high interest debt by one with lower rates (eg credit card for payroll loans).
4. Ensure that the services will fit into the budget
Be sure that the services fit the family budget, still leaving a gap of 5% to 10% of gross income.
"This strategic reserve is important not to let the consumer in a risk situation, where any unexpected results in non-payment of debt installments," says Dominic.
5. Find the best conditions
Talk to the manager of your bank to find out what conditions it can offer you to get a loan. Compare with other institutions before taking the decision. You will need to bring the following items in mind during your search:
Rates of administration and interest
Time: the provision and interest is lower over time; but the total paid is also higher
Commitment: run away from situations where you need to offer any asset as collateral
6. Get to know your profile
To better understand your profile as a consumer, you'll have a clearer idea of the risks you'll be running to a loan. To facilitate your decision, Domingos set some profiles, listing its main characteristics. Find out which fits you best:
indebted
Without control of your financial life, take a high risk to get a loan and probably will not have your problem solved. You need to make a profile "Balanced" before taking this step.
Spend more than you earn
You do not know where your money goes every month
It has multiple debts
It does not intend to reduce its costs
You will use the loan money as supplementary income
Balanced
No debts, but no money saved, you can resort to a personal loan in the event of any unforeseen. But you will need to revise your budget to fit the benefits and avoid the risk of default.
Spend exactly what wins
No debt
It has a small control spending
Has no cash reserve
Investor
With saved and sound financial health money has on loan an option to input a well you want to buy, such as a car or property, without decapitalize. By having a financial reserve, you are guaranteed that you will be able to pay the installments even in case of unforeseen events.
Spend less than you earn
Save at least 10% of their gross income
No debts
It has saved money in investments
Maintains an updated monthly budget
Source: UOL Noícias
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This article was translated by an automatic translation system, and was therefore not reviewed by people.