Want to make an online loan? Planning is important for you to make an online loan. Often, because of the urgency, you end up getting lost in the accounts and getting even more involved in debt. So we sorted out 5 important questions to ask yourself before taking an online one.

1. What do I need the money for?

You are scrounged in with parcels of the car, credit card, need money to travel with friends or family. No matter the reason you need the money, the important thing here is to understand the purpose and how urgent it is. Whether you want to cover that last minute expense, refinance your debt or even make a trip, we have the solution.

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2. How much will it cost me?

Do not just look at the interest, be aware also the TEC – total effective cost. The most common mistake is to make the calculations of installments based only on interest, there are also other tariffs and taxes that make up the final value of your financing, the sum of all charges is called Total Cost Effective – TEC. Look for a transparent company that presents the TEC in a simple way.

3. Can I pay for the one?

That question is easy to answer. Good financial practice says you can’t commit more than 30% of your salary or income to the portion of your loan. For example, if you win $ 1,000 the portion of your loan can’t exceed $ 300. In essence, your ability to pay is not determined by “feelings” and assumptions. That is determined by the rough calculation of the average person can bear debt compared to his income. If you violate it then you may experience difficulties later on.

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4. How long should I pay for it?

It all depends on how much you want to pay per month. As said before, do not commit more than 30% of your income with loan installments, taking this into consideration you can take a short or medium term loan. You should avoid debt with a loan period of more than one year as it is not recommended for “psychological health”. Fast money and fast payments are two things that must be held.

5. Where to apply for the one?

After evaluating why you need the money, Total Cost Effective – TEC, make your calculations and make the decision to take an online loan, it’s time to find the company that best fits your requirements.

Look for a transparent, serious and well-qualified company. There are many companies that provide loan services but only a few offer fair transactions. We have reviewed various online lenders but only a few are worth considering. If you ask us, we can recommend Asteria to you. This is a qualified personal lender. Basically, the Internet makes it easy for us to do almost everything, including when we need money fast. Hopefully, this article can be useful to you.


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Arni Barni

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