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first Keep an eye on your finances.
Before you start exploring the loan market, it is important to consider your own finances. Partly because you can see how much of your income you can spend to repay the loan, and partly because lenders want to keep your finances under control. You can easily do this by establishing a budget. It gives you an overview of your income and expenses, as well as an overview of how much you need to deal with each month. A budget can also be used to find places in your economy where you can save money. Most Swedes usually have several fixed costs that can be removed or find other cheaper options. Therefore, insurance and underwriting can be rewarded if there are solutions at a lower price.
2. Interest Rates
Interest rates are very different for various loans, but you must keep track of the effective interest rate. That's the total cost of the loan, it's the real price you pay when you take a loan. The effective interest rate includes nominal interest, settlement fees, fees and other fees charged by the lender for the loan. When comparing loans, it is easier to check the effective rate.
3. Fees and Expiry
Aviation expenses and start-up costs are less fun expenses that accrue most often on loans, but they are often included in the effective interest rate mentioned above. You should be realistic about your payment plan, but be sure to repay the loan as quickly as possible. A loan with a low interest rate and a long maturity can be the most advantageous solution, but also the fixed interest rate is low, so you will be able to pay the rate of interest. interest for a long time. The long-term maturity can therefore prove to be at least as expensive as a high-interest, short-term loan.
4. Compare Loans Online
By comparing several loan options and lenders, you can find the cheapest and best option for your situation. When you use Fair-laan.se, you can compare all loans and lenders based on actual interest rates with interest and fees, special benefits as well as the advantages and disadvantages of various lenders. Then you get a complete overview of your options before deciding on a particular loan. Fair-laan.se is one of the leading comparison services in Sweden for fast loans, mortgages, UC loans or if you want to borrow with a payment slip. If you have to borrow but live in Finland, matchbanker.fi can be recommended. The site is only available in Finnish and you should search for lainaa, which means loans in Finnish.
5. Unequal Income and Loan Protection
If you work part time, are on time or have an uneven income for any other reason, it is wise to have extra space in your budget. So you need to rely on your minimum income when you make your budget, then choose a loan and plan your repayment plan after that. It may be safer in this case to have a longer duration to avoid the various penalties that may arise if you can not settle your payment. Many lenders now offer loan protection, which means that you will receive assistance with monthly payments if you were unemployed or sick. In case of death, the entire loan is repaid. It costs a little more, but it's affordable insurance.
Signing a loan should always be your last resort. It is not free to borrow money, even if you only spend half of what you borrow, you must pay interest on each crown. To avoid a bad spiral, do not sign new fast debts to pay off other existing fast loans without collecting them for a large loan at a lower rate
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