Financial Mistakes That Ask For Personal Loans
What kinds of financial mistakes do a person apply for?
Although day-to-day mistakes tend to make us wiser and more accurate, if neglected can do a lot of damage in the future. When we are young, mistakes with finances in the present may not be felt with gravity, but can be a big problem over time.
When you begin to work and receive a considerable salary, financial freedom is presumed to take its place and this should totally consume the human conscience and good sense that takes care of the financial part of the individual. If you are living a good phase, are young or not and do not want to be in financial trouble in the future, there are mistakes that should be avoided. Check below:
1. Incomprehensible Credit Cards
Credit cards are not extra money and are often poorly understood by young people; in general, their small purchase decisions most often lead to serious names and filing problems in the long-term protection agencies. These problems can be through withdrawals and cash advances, balances overdue, payment of only the minimum, late or even unpaid bills. This “little piece of plastic” can be very bad for a person’s life
2. Not using discounts
Financial institutions, car dealerships, travel and cultural attractions, there are a variety of special discounts for young people and students, but you will not be aware of them if you do not search on specialized websites or ask beforehand.
3. Expensive rental agreement
If you decide to live in a place that leaves you with little money to perform daily activities then you will probably be stuck and spend most of your time at home or you will be subject to the risk of accumulating credit card debt to pay the difference between your lifestyle and what you get. Then you will have to cover for the unexpected costs.
4. Has no expense control
If you do not stop and analyze your fixed expenses and what is really left over from your salary, sooner or later it will be tricky to determine how much you spend on things like food, fun or an improvement on your mobile internet plan. You need to know what your expenses really are so you do not overdo it and get involved.
5. Does not save money
Having a cash reserve for emergencies will give you security when unforeseen problems and unexpected arrive, saved money avoid adding negative balance to your credit card. After all, you never know when your vehicle needs repairs, or your cell phone breaks, is stolen or needs to be replaced. This reserve is critical to your safety, even if you start depositing small amounts every month.
6. Failure to realize costs by increasing
You might call it a “lifestyle,” but if your daily trip is to go have fun with friends in restaurants, smoke half a pack of cigarettes a day or have that beer in the late afternoon at your favorite bar, totaling thousands of reais per year. A small change in this type of spending will be able to help you save more money than you think, even pay a private pension plan for retirement and even pay off outstanding debt.
7. Bank and ATM fees
Bars that only accept cash (it’s rare) but if you have no idea where the bank is from your nearest bank? Then you will use the ATM conveniently located within a few blocks. The problem is that the transaction cost you some real extra and if you do it four more times during the rest of the month, with all these fees saved you would pay for some lunches…
8. Making prepayments to the account
You have tied most of your obligations to your bank account thinking that you would never have to worry about repaying the bank. That is, until you left with your friends to drink, made a certain amount of money and did not leave your balance uncovered. If the institution makes the scheduled payments and there are not enough funds, surely you will be knocked out with a huge fee.
9. Open a joint account
You are in love? How could you demonstrate your commitment if you do not change the behavioral pattern and open an account and split all your financial responsibilities is one of those standards! But, doing it too soon or without a specific plan of who pays what (and exactly how much) might be among the most costly economic mistakes you can undergo.
10. Unordered Planning
You plan your future, think about college, purchase a home or apartment of your own and even travel the world outside… You must be imagining that planning the future is only for those who think about retirement, however everything must be done under advice financial resources.
Talking to a financial advisor or financial services manager can help you discover things that you really need to create wealth and fulfill your dreams. If you do not want to apply for loans because of these mistakes, it is better to change your habits and customs. Good luck!