Loans, payments in installments, mortgages, loans: if in most cases it is relatively simple to keep your debt and your financial situation under control, sometimes certain choices, made without thinking too much, can be problematic.
Take the case of ‘ subscription with a telephone operator that includes a smartphone to be paid in installments: even if we can not think about it, it is not a loan for use but a real funding. In fact, we do not immediately pay the total cost of the phone but we pay a fee every month with our subscription. If for some reason we miss a payment, the credit information systems will record this information, with all the negative consequences for our creditworthiness.
If we ask for a loan and we are refused, the reason could also be in contracts that we have already stipulated without considering them real financing: from the purchase of the telephone through the leasing car subscription.
This is why, when it comes to controlling our indebtedness, we must consider all the elements that are part of it.
Before signing a contract that provides for payment in installments, we evaluate our economic situation, not forgetting any other financing requests that we have planned or which we may need in the following months.
Even in the case of financing such as the purchase of the telephone, it is important to read carefully the contract, in particular the information relating to the monthly payment, the duration of the loan and the penalties in case of non-payment or early termination of the contract.
In addition, in order to provide personalized advice on our financial situation, we can turn to an instrument like Advanti, designed by Master Loan for the conscious management of debt.