Today you can find many articles on the Internet about how to do this or not to do another. When a user of the network asks the question “when it is impossible to borrow money,” most likely he is interested in some astral reasons, something like, “on Monday after the full moon, it’s best not to do it”. We want to describe the situations more real in our life, in which it is not worth taking a loan, without assessing the situation thoroughly.
It is always worth remembering that when you borrow money, you take the responsibility to return the funds. Thoughts about this, one way or another, affect your life, so you should carefully prepare for the load, and, if possible, do not get into credit, being in the following situations:
When can not borrow money? – when there are already other debts
Today, every adult knows what a loan is and how to get it. Almost every one of us borrowed money and most have open loans. Therefore, I want to say, you should not drag yourself into endless debts. You should always evaluate your situation, predict finances in advance. Someone can hardly cope with one loan of 20,000 rubles, not because there is not enough salary, but because they do not know how to properly manage their finances.
Count all your money that comes and goes. Give a balance, start to monitor your spending and, perhaps, after the first calculation you will see that you can afford a new item of expenditure. But, if you see that you are in a situation where you can not borrow money – stop. Most likely, you pay a substantial part of your income in favor of several lenders. Need to deny yourself the extra expenses and reduce monthly expenses.
If there is no emergency fund
Of course, this is an optional condition, but, nevertheless, having at least some amount in reserve, for example, to repay the monthly loan payment, you will be much safer to contact the bank. Many people like to rely on a credit card. If you do not repay a loan on it and there is an interest-free limit, it can really be a good tool in working with money.
No realistic budget
There are such types of people who, not assessing their financial situation soberly, make the wrong decisions, they may not notice that they are in a situation where they cannot borrow money. This is due to the fact that not everyone knows how to predict your own budget really correctly. There are many programs and methods for this, the main thing is to fix all your expenses and, taking into account the incomes of the whole family, to set the monthly balance. After two, three months, you should have your own strategy, which will help you correctly assess the movement of your finances and, therefore, make a decision whether to borrow money or not.
All the main techniques for improving financial sustainability and budget forecasting are reduced to two components. The first. It learn to spend less. Almost all of us have a habit of buying something unnecessary. As a rule, these are impulsive low-priced purchases, which within a month grow into a significant amount. The second component is to find a way to earn more. Prove at work that you deserve a higher salary or find a side job.
Also, I want to say that you need to structure and properly organize the repayment of existing and future loans. On this account, too, there is a lot of information on the network and in our blog. Another good habit will be to replenish your credit account every time such an opportunity arises.
Holding on the pulse of your finances and the state of your debts, you will be able to accurately determine the situation when you cannot borrow money.