Request a credit after the holidays: when and when not

Request a credit after the holidays: when and when not

The return of the holidays is a real uphill. Not only must return to work, routine and schedules. A simple glance at the current account can sink the morale of the most optimistic if he has not been able to control expenses during the summer. 

These extra disbursements, together in the case of many families who accompany the return to school, suggest thinking about a loan after the holidays. But before doing so you must meditate if you really need and, above all, if you must request it.

The first thing you have to calculate before requesting a loan after the holidays is your ability to borrow (read here Debt capacity: what it is and how it is calculated ). The experts in personal finance agree that a person should not use to pay a loan more than 35% or 40% of the money that is available from their income after paying the fixed expenses. 

These fixed expenses include, among others, the payment of the receipts of supplies, the mortgage or rent, as well as the money destined to buy food. Also, keep in mind that September is a month in which expenses increase if you have to buy school supplies and winter clothes. Don’t go ask for a loan after the holidaysWithout first having done the accounts , go ahead anddo not have the money to return the fees.

Do not ask for a credit after the holidays if you already have one

One option that some people make to pay a loan is to ask for another . It is a very risky movement that can bring you more problems than solutions. It’s something like bread for today and hunger for tomorrow. It may relieve you the first month, but then your debt will be greater and it will be difficult for you. It is advisable to ask for a loan after the holidays if you do not have another one . 

If you asked for one to leave for the summer and you are still paying for it, do not risk asking for another. At most you can ask for an extensionYou have if you calculate that you can assume an increase in fees and if you have been paying them without problems. In fact, Currency Now offers users who meet the first payments, the possibility of asking for more money without having to apply for another loan.

When requesting a loan after the holidays, be careful also in the place where you request it and if it fits your needs . In Currency Now , the technology used allows you to analyze your finances in just a few minutes and offer you a personalized product that allows you to pay comfortably. If when making your request in Currency Now, it is rejected, it is because it is not convenient for you to acquire a loan. Take it as a precautionary and warning measure, and do not despair in search of money in other financial companies, because they may not care about your economy.

The golden rule that you should always be clear before requesting a loan is to calculate if you will be able to pay it without putting your finances or those of your family at risk . Chaining credits may seem like a good option to make your life easier, but don’t be fooled, you have to live according to your income and only go to loans for specific

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