If special purchases are pending and there is no financial scope, borrowing is essential in many cases. In recent years, many banks have therefore refined their business models and offer loans for almost every purpose, specially tailored to the special needs of customers. So-called instant loans in particular offer borrowers a high degree of flexibility and are usually quick and easy to obtain.
An individual solution for every need
The majority of all those interested in credit need the instant loan to fulfill a consumer wish. A new motor vehicle, a tasteful home decor or the long-awaited dream vacation, each of these wishes can be realized at short notice with this type of loan. By choosing an appropriate loan term, the amount of the monthly installment can be determined by the applicant himself. If its creditworthiness is also sufficient, quick and uncomplicated processing is no longer an obstacle.
Risk of over-indebtedness
A quick and unproblematic loan approval offers a considerable advantage for the customer. But like in many other situations, there is a flip side to the coin. Not least in times of crisis, the number of loans outstanding for banks has increased dramatically. More and more citizens are forced to take the unpleasant path to personal bankruptcy due to over-indebtedness. This no longer affects low-income earners, but also more and more the middle and upper classes with average to higher incomes. The main reasons for this are job losses, but divorces also often contribute to financial cuts and thus to insolvency.
Saving in good times
Many consumers are looking for the supposedly “best” and at the same time cheapest loan. Offers from regional banks and direct banks on the Internet are numerous and easy to find. And consumer protection associations and other experts are also finding that the best loan is the one that you don’t need in the end. Ultimately, you can also grant the instant credit yourself. Without fees and of course without interest.
The solution is as simple as it is explained. In a nutshell: save in good times, then you have something in worse days. Those who manage to put a certain percentage of money on the high edge of their income early on learn to save and have accumulated a considerable amount after a few years. From this amount, the respective person can always grant himself a loan, mind you without any costs.
There are certainly situations in life in which borrowing is unavoidable. In the first place, however, the saving of equity should be in the foreground of your own life planning.