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Christmas loan – when is it worth taking it and how not to get over debt?

 

Holidays are a time of family gatherings, a warm atmosphere, joy and agreement. It is also a period of solemn meals and gifts, and … related expenses. Undoubtedly, holidays can strain your home budget. That is why more than one person is wondering whether to opt for a holiday financial injection. Let’s see when it really is worth to help with a loan.

The survey “Why Poles are indebted” conducted by IMAS International at the request of the National Debt Register of the Economic Information Bureau shows that over 75% of people from the age group 18-64 have at least once in their lifetime taken a credit or loan. Most often, the reason for such a decision was the purchase of home appliances and electronics, the need to raise funds for repairs or for buying a car.

We decide on a loan or credit when the thing we want to buy is too expensive to be able to buy it immediately, using only current income or savings – that’s what 44% of respondents say. In turn, 29% of respondents admit that they took out a loan or credit because of temporary financial problems, and 27% had unforeseen expenses for which they were not financially prepared (source). It is worth adding that during the year there are two periods in which the number of loans and borrowings is growing. These are holidays and Christmas.

How much does Christmas cost and where do you get the money for?

How much does Christmas cost and where do you get the money for?

According to a Deloitte report, last year the average Polish family spent PLN 1168 on holiday spending, of which 60% was consumed by presents. We spend much smaller amounts on food, although it can also be charged to the household budget, especially for people preparing Christmas Eve dinner for the whole family. The fact that food prices have risen is not very optimistic in this situation – according to the Central Statistical Office, it was in October this year. 2.5%, while on an annual basis – 6.1%.

Although the holiday budget is not easy to reach, many families are trying to match expenses to their options. The shopping lists prepared earlier and the cost-effective analysis of the upcoming holidays will certainly help. The most favorable situation is when all expenses can be covered by the amount of the current salary. If this is not possible, it is worth looking into the savings and thinking about whether you can spend part of the amount set aside for holiday spending.

It often turns out that the costs of Christmas shopping, which initially filled us with fear, can be covered by the means we have. Just follow the list that will not allow you to “go too far” in a shopping shawl and not buy too many products (especially food). It is also worth paying attention to cheaper versions of goods, including private labels of local stores and products of local producers. Remember that a lower price does not necessarily mean lower quality – there are many factors at the expense!

What if it’s not enough?

What if it

It happens, however, that despite all efforts, the Christmas budget does not want to be completed. What to do if the funds on your account are clearly not enough? Of course, you can save on some products, but this is not always possible. In this situation, a loan may be a useful solution. Remember, however, common sense! A financial commitment should result from a real need.

If we lack the funds to implement the holidays we dream about, let’s choose a reliable lender by calculating in advance the amount that will be needed to finance the budget. Always remember that after the loan you will have to pay back. Therefore, the borrowed amount must be repayable without overcharging your home budget after the New Year.

What financial products can we choose? These include credit, installment loan and so-called chwilówka. It’s worth choosing the one that will be relatively flexible in terms of repayment. It is worth considering a loan for installments, which individual installments will be scheduled for the following months, but which, if you have more funds, can also be repaid once – without having to bear additional costs.

How do you choose a good loan for the holidays?

How do you choose a good loan for the holidays?

First of all, it is worth getting an idea of ​​the installment loans granted online. However, let it not be often advertised “loans without BIK”. If a lender grants a loan online without checking the borrower’s financial position, he runs the risk of late payment or even being unable to pay the loan. And since it bears such a risk, it happens that the proposed conditions are much less favorable than those offered by the lender verifying the status of a given person in BIK.

We should also remember about assessing the lender’s reliability and credibility also by checking his contact details, entry in the National Court Register, lack of company name on the list of unreliable entities of the Polish Financial Supervision Authority, as well as reviewing the opinion on the loan company on online forums.

Let’s also pay attention to the method of presenting data on repayment terms and total installment loan costs. Mr. Sam has an intuitive tool in the form of sliders on which you should select the amount and the number of installments to which you want to spread the loan. After selecting the options that interest us, the system calculates the total cost of the loan and the installment amount. It also shows all component costs of the liability.

The advantage of such a loan is of course also the fact that it is taken online, without having to leave the house, as well as without preparing a file of paper, completing it and taking it to the company’s headquarters. The entire loan application process is simple and short-lived. Everything is done in the network, and in the case of positive verification, you can receive a transfer to your account even on the same day.

An online loan for holidays can help you prepare the perfect Christmas Eve supper, buy your dream presents, or go to the mountains for the holidays. However, we should remember to choose the lender wisely and estimate well how much money we really need and whether we will be able to pay the liability later.

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