Installment purchases and installment loans.
New equipment? Only in installments
According to recent studies, the most popular way of indebtedness among Poles is not loans, but purchases in installments (Vendier, the survey “Poles’ material situation”). By financing the purchase of a new washing machine, fridge or TV with an installment loan obtained in the store, we can afford much more than our payment would assume. We must regulate purchases in installments as we repay cash loans. Otherwise, our outstanding commitments will sooner or later be entered in relevant registers, such as the BIK database.
What amounts do we spend on installment purchases? These are usually sums from 1501 to 3000 PLN (38% of respondents). As many as every fifth respondent, in turn, decides to buy in installments for the amount from 500 to 1500 PLN. In turn, 17 percent respondents divide purchases into installments for an amount that is not higher than PLN 500.
Online loans come second
The second most frequently chosen debt forms by Poles are loans over the internet, contracted from non-bank institutions. As it turned out, in the case of this form of liabilities we decide to incur much larger amounts. The most frequently chosen answer by the respondents is between 8,000 and even 25,000 PLN (1/4 of respondents). The second most popular amount is much smaller and ranges from PLN 1501 to 3000. 18 percent respondents, in turn, admitted that they most often take out loans ranging from PLN 3001 to 5000.
How do we take out non-bank loans?
Taking out non-bank loans is simple and quick. The Internet will help you find an offer and also submit an application. To complete the form, we need basic data, which includes name, surname, PESEL number, ID card number and the bank account we have, as well as an active mobile number. When we complete the application, we confirm our identity by means of verification transfer or other available method (e.g. verification at the post office). Then we have to wait for the answer. If we get confirmation of the loan, we can expect a transfer. Funds are released as soon as the application is accepted, but the transfer speed depends on the bank where we have the account.
Reasonable taking of non-bank loans pays off
Research shows that we prefer to finance larger expenses using installment loan offers. The loan requires action – we must choose a credible lender, look for reasonable proposals and read the contract carefully. Although we willingly decide to borrow large amounts, we should not incur obligations that we cannot afford. Therefore, before we make the final decision, we need to carefully examine our budget. According to research, the higher the amount, the longer we think about before making a decision. As much as 36 percent respondents state that they refrain from spending money for their needs when they have to pay back a loan.
The payday loans rankings and – if we need larger amounts – installment loan rankings will help us to make a reasonable non-bank loan. Thanks to their instructions, we will not waste time looking for proposals that meet our expectations. We will immediately receive a list of loan offers that are in top positions.
Taking loans and satisfaction with the financial situation
Does taking loans show that we are not satisfied with our financial situation? Unfortunately, the test results show that yes. Half of the respondents claim that their income covers only their basic needs. Higher expenses without external support are not possible. In turn, every fifth respondent must deny himself many things so that he has enough for the first. 6 percent respondents’ monthly salary is not enough for current needs. Only 16 percent of the surveyed people do not complain about their financial status.
Analyze your budget
How can we positively influence our material situation? The best way would be to find a new, better-paid job. This is not always possible, so we should analyze our budget and think about what expenses we can forego. Otherwise, we will have to borrow for trivial welding, giving up expenses that are actually necessary for us. The condition of our finances will also be improved by a responsible loan. However, this is not a way out that we should use regularly, but only in the case of actual need.
Pleasures after settling the monthly financial obligations
If we want to indulge in pleasure, we should always settle our monthly financial obligations in advance. This is quite difficult, the more so because according to research carried out at the request of Vendier, we often have to live from “first to first”. So how can we afford a bit of madness in our expenses?
We always analyze the costs incurred, make a shopping list, do not succumb to momentary whims. Let’s follow the principles of responsible borrowing, so that most of our payments are not allocated to commitments. Loans and credits should amount to a maximum of half the salary. We divide the amount that remains to us, counting our daily needs and bills, into three parts. We keep one for unforeseen expenses, the other – we save by using a number of available options, and the third – we can spend on things and activities that make us happy. By approaching the issue of your finances in this way, we will never face the problem of lack of money.
“Installment loans are the second most-chosen form of debt. This means that it is a very useful and needed financial product. Using it skillfully, we will not have to deal with cash problems, but on the contrary, we will improve our financial situation and be able to afford the plans, “comments by one of the financial analyst.