Loans today are so popular that more than half of our fellow citizens have debt obligations to the bank. Moreover, debts simultaneously on several loans - the usual thing. How can I reduce your financial dependence and rather pay the whole amount?
1
Increase the amount of the monthly contribution. Banks are building the order of payments in such a way that at first the main part of the payment is a tribute for the use of money, that is, the interest rate. And the smaller our debt, the smaller there is interest. Accordingly, the benefit of the creditor's account is greater than the mandatory monthly payment, we reducing the repayment time of the loan. It is optimally increasing a fee by 10% or more.
2
If we are talking about several loans, adding additional funds only to the account, interest on which above. Getting rid of this, the most expensive debt, go to the next interest rate. The second loan is quenched by a mandatory monthly amount in combination with all the money, which was released after the disappearance of the first debt. For example, having a mortgage on an apartment, a loan to household appliances and a credit card debt, first pay a card, then a loan for equipment and after the mortgage. Such an algorithm of actions is capable of halving to reduce payments.
3
To free a certain amount and send it to the payment of a loan, you need to enter the savings mode. Experts recommend to draw up a financial plan to register all the necessary spending. It eliminates spontaneous or optional purchases eating a considerable part of income.
4
In addition, it is worth using your resources as much as possible. When main employment allows, find part-time engagement, in other cases - rent a room or car, place advertise on personal property.
5
Be sure to have an inviolable cash supply, equal to two-three credit payments, for an unforeseen case. Such insurance will save from penalties applied for late payments.
6
Few borrowers know that sometimes the bank himself can help repay the debt. If you lent money in one interest rate, and today the lender launched the offer better, use the refinancing service. It allows you to make a new loan in order to repay the old and save percentage.
Thus, there is a real opportunity to repay the loan quickly. In addition, we reduce the overpayment, which makes the loan conditions more profitable.
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