Christmas holidays come with them and requests to buy different gifts, Christmas spruce, decorations, Christmas cookies, winter clothes and other little things. We are tempted by all kinds of tempting offers.
It is difficult to resist the massive fever of the holiday mood and the apparent security of delayed payment.
Unfortunately, financial reality is usually at odds with our wishes. On the one hand, there is a need to satisfy the purchase request, and on the other, our conscience tells us that money is issued for unnecessary things.
The article deals with the subject in detail. If you’re just looking for the best line of credit and don’t have time to read, you can fill out a credit questionnaire right away.
Additional financial support for the holidays
You want to treat your children and loved ones to the magic of the Christmas holidays. Without extra cash, it is almost impossible to experience the beauty of Christmas and realize your first New Year wishes.
When spent outside our own financial means, we can reduce the scale of costs if we borrow money from a real “piggy bank”. Choosing the right amount of credit and line of credit will help you make comfortable holiday spending reasonable.
More citizens need additional financial support at the end of the year. Most often, we seek support from credit institutions, typically banks and credit card companies.
Minus by current account – rapper for the black days
When choosing banking products that we reach for in case of greater need for money, the allowed current account overdraft is generally the first choice. Do we justify putting other banking products aside?
First of all, make sure that any old checking account you no longer use does not come as a surprise to you in the form of a blacklist or foreclosure.
In order to approve an overdraft, banks usually do not require proof of credit, collecting supporting documents, verifying forms, etc.
Is it financially viable to realize a counter-current loan (minus current account) or spend some time and nerves to realize a non-purpose loan?
An overview of the share of citizens’ loans in total loans made by Croatian commercial banks. The above data from June 2014 are compared to the 2012 loans from citizens.
We see a slight trend of deleveraging of citizens compared to 2012. The share of home equity loans decreased. There was a decline in mortgage and vehicle loan placements.
Non-purpose cash loans to individuals are increasing slightly. Although only 20.00% of non-purpose loans are classified as loans for refinancing and rescheduling of existing liabilities, the significantly higher share of non-purpose loans placed closes with existing debt obligations.
An overdraft is a short-term solution
It is important to always keep in mind that a current account overdraft is a good solution in the short term, as interest rates are calculated based on the amount and number of days used. In the long run, getting into the minus is not worth it.
Interest rates on overdrafts on current accounts of citizens:
Higher cash outlay for longer repayment periods
When spending large amounts of cash or closing existing debit and credit card obligations, it would be worth considering paying off installments or realizing a cash loan with an agreed longer repayment period.
The advantage of non-purpose credit is its simple and quick realization. After realizing this type of loan, the bank makes cash available to you. The very choice of financing subject is entirely up to you.
The following is a non-purpose kuna loan from the offer:
From the offer we extract the loan with the euro currency clause :
Let’s take a break at the end of the year!
At the end of the year, citizens are exhausted with existing expenditures (holiday gifts, winter holidays, overhead, etc.), previously assumed credit obligations, credit and debit card debts (during the holiday season, the cards are “ironed out”), current account minus, etc.
Spent citizens seek loans to refinance existing liabilities. The most common New Year’s wish for citizens is – one single credit obligation and a positive current account balance.
We extract from the offer a refinancing loan for the agreed repayment period of 10 years :
We extract from the offer a refinancing loan with a repayment period of 12 years :
The offer includes the loan for refinancing in HRK :
Good start to the new year
Citizens will use most of the money raised from bank loans to repay their debts and refinance their existing liabilities.
Some citizens plan trips; advent in Vienna, New Year’s Eve in Prague, skiing in France, etc. You’ve worked all year, you’ve earned the award. The question is when will the opportunity and time again be for traveling and enjoying the winter joys and holiday atmosphere.
Prices for travel arrangements are generally several thousand kuna, and a number of citizens are forced to borrow additional money in order to travel. Citizens most often increase their current account overdrafts so they can pay for the trip.
Banks in Croatia adjust the amounts of allowances exceeded by citizens twice a year. Most banks make corrections at the beginning of the year. Don’t get in the mess, and fund your trip with a safer bank product.
Affordable consumer credit made with a credit card may still be a better solution. If you have not yet become a card user, let Good Finance financial intermediaries make your selection easier.
From the offer of consumer loans we highlight :
With the right financial strategy, it is possible to achieve indispensable credit borrowing at the most favorable market conditions during the Christmas holidays.
Start the new year by planning your family budget, saving, and securing loans against non-payment in case of loss of business or illness, etc. and have control over your finances.