Have you come in the unfortunate situation that you suddenly lose a little money on your pocket and is the savings account empty when you check online banking? Then you may have to consider one of the popular payday loans. This type of loan differs from the classic consumer loans, credit cards and cash credits that you may be used to today. These loans are typically smaller – from 1000-5000 kroner. It is supposed to be used as a kind of “buffer” if you do not have enough money to pay their expenses late in the month. Therefore, they often also have a short maturity, for example, a few weeks. What is important to examine is what it costs to repay the loan – overall. Here it can be a bit misleading, for example, several thousand percents. YEAR means Annual Cost in Percentage. And since these loans typically have a relatively high interest rate, the annual cost will, of course, be very high. But what is worth mentioning is that you do not pay interest for a whole year. Typically 14 days, or maybe a month.
However, it is of course always a good idea to examine what kind of consumer loan best suits your particular situation, as it can vary a lot from person to person. And there are a lot of different kinds of consumer loans that you can investigate. There are both the larger loans with a lower interest rate, and then there are the very small loans, which on the other hand often have a low-interest rate – and in some cases no interest at all. Here most often it is an intro offer that you typically only get the first time. But in other cases, there may be other types of rewards that you can benefit from. For example, there are many loan providers that offer one payment-free month a year. The most important thing, however, is to make sure that the place you borrow money has a good reputation.
And if you’ve been just a little awake in the hours, it’s no secret that these kinds of loans are often criticized in the media. What is important to keep in mind is that the media’s task is to obtain audience ratings. And, unfortunately, there are now far more audiences in showing people who have problems with the economy than ordinary Danes. It is not fun that it is called the “lucus trap” and not “healthy private economy”. First, it is already in the name. The name suggests that you have come into financial trouble because of consumer loans, to buy things you don’t need. Clean and bright abundance. Here at the editors, it is important for us to establish that loans are and become a natural part of ordinary people’s everyday life. And we do not quite think it is fair to hit so hard on consumer loans. Especially not in Denmark, where the Danish consumers are so well protected by the world’s laws that it is almost impossible to cheat for the companies that issue the loans.
It is of course perfectly fine that you make TV programs, and we must also admit that we have seen a few individual sections every now and then, but the problem arises when there is no nuance. It is almost as if it is always the consumer loans’ fault that the contributors have ended up in an economically hopeless and unmanageable situation – despite the fact that thousands of Danes live in harmony with consumer loans. Of course, it is clear that it can be silly to record a mini loan to buy a new bag, electronics or other things that are not strictly necessary, as there will be costs in the form of foundation fees, payment fees and interest costs. Therefore, it is important to be aware that borrowing money costs money. If one has this point of departure, one is always sure that one will not be surprised to pay interest and fees, and secondly, you may also be more inclined to reconsider whether it is really necessary to take out the loan. to start with, or whether it might be a better solution to wait a few months while saving up to what you have now chosen instead.
As long as you are aware that it costs money to borrow money, Mini loans need not necessarily destroy your finances. As long as you have reason with you and use your head, consumer loans do not have to ruin you. On the contrary, it can actually help you. There are many who are stressed over their finances. And here it can sometimes be an opportunity to borrow a consumer loan. For example, if you lack new furniture, the car is going to a workshop, and your niece will soon have to be confirmed, all these things together can give you a very stressful life. Instead of stressing over these things, it can make sense to take up a consumer loan, in order to get control of all the “hanging parts” that one might not want to do easily by saving up. In this way, one can say that a consumer loan can mean that one gets the opportunity to get a lot of things in order. It can also sometimes give more air in the economy to take up a consumer loan, as it thereby gets the opportunity to get more loans together in one. This often results in a larger disposable amount and can also give you some better interest rates so it doesn’t have to be as expensive for you as a consumer to borrow. However, always remember to check if it is worth taking out the loans in this way, as the formation costs of taking out the loan can quickly offset the benefits. In addition, there are also some who can lose motivation, as one can no longer “knock” one loan off, at a time. Therefore, for some it may be more confusing, suddenly having to deal with a large loan that has more years of maturity than more small ones – despite the fact that the total amount may be the same.