Secured lending, in fact, is a unique form of credit, intended for both individuals and businesses. It is brokered through some financial agencies that end up setting some rules, as well as collateral, to be able to grant the loan.
But is this kind of credit line really safe? Well, that will depend a lot on what you consider safe. Of course, there are some risks you take when applying for a loan, and also risks that simply exist around the application, but the loan itself, provided it is made in a reliable place, is completely safe.
The loan is nothing more than a relationship between two parties, where one party provides the other with an established and requested monetary value, expecting the other party to pay back its debt, plus the agreed-upon interest, within the agreed timeframe. The main problem with the loan is not the interest rates, but the fact that people usually do not prepare properly to make a decent loan.
That’s the truth. The main enemy of those who are in poor financial health is the urge to put their feet in their hands. A lot of people think that the loan will solve all the problems of their life, but the truth is that the loan does not do magic, and it is the people themselves who should put things in order.
Taking a loan without having planned for it before is the same as asking to be in debt and not being able to repay your debt, which incidentally will always grow with each passing month. But don’t worry, Astro Finance will teach you some practical and easy ways to keep your loan from becoming a nightmare!
How to prevent your loan from becoming a snowball
Well, to keep your loan from making the nightmare of tidying up your finances even more daunting, planning is important. But what do you mean a planning? The first thing you should do is list all your expenses, however small they may be. Make a detailed list of where you spent, how much you spent, when you spent, and break it down into topics.
Home, food, fun, mobility… Make everything clear, and put each expense on its proper topic. After that, it’s time for you to clarify your earnings, each one of them. Make two tables, one with spending, one with earnings, noting the dates the money goes in and out. Now is the time for you to start filtering. Eliminate from your expenses everything you don’t need, but still spend on it without realizing it.
That alone will tell you how much money you use in a bad way. It’s money that goes away and never comes back, you know that? And you’re using it for bullshit, instead of focusing on your financial health and solving your problems once and for all.
Many times, just by doing this, people already realize that they do not need a loan and that they can calmly and planning to repay their debts.
But if the loan is really necessary, maybe it’s time to start planning month by month. Many of the online financial agencies have loan simulators. With them you can know how much you will have to pay each month throughout your entire loan.
With this information, you will be able to start planning and sorting out a specific portion of your monthly salary just to pay off the debt, saving all that left over and using it as an emergency fund.
The emergency fund is extremely important, as life is full of unforeseen events, and before you know it, it happens, and you have one more debt to bear. That’s sleepy for anyone, but if you have prepared properly by making a small savings, you will be able to handle your debts smoothly.
How to know if secured loan really is safe over the internet and how to avoid various scams
On the internet there are many people who, in bad faith, try to outsmart others. Astro Finance is keen to warn you and teach you how to escape scams on the internet. Generally those in need of a loan find themselves in a tricky situation, and this is where the ads and unique “opportunities” start to appear everywhere.
Promises of easy, fast and paperless money are easy to make but difficult to keep. To avoid falling into a steal from which it will be tricky to come back, there are a few things you need to know. Every real and responsible financial agency has a CNPJ and is directly authorized by the Central Bank of Brazil to operate in the national territory.
If you are contacting an agency that uses another bank’s CNPJ and who evades when asked about authorization, skip out on time. Another sign that you are getting into a stolen is the request for advance deposits as a percentage of the amount that was requested on the loan.
No, we repeat, no self-respecting company does this kind of thing. And the scam is even clearer when you are asked to deposit with third party accounts. This type of conduct is specific to who is trying to strike you!
You need to be extremely vigilant when looking for loans online. The security of a loan depends not only on the agency, but also on you and your habits. Being insightful is necessary when it comes to money, and you will not want to lose out with more debt accumulated after making your loan.
Remember, we will always assist you with every step of the loan, teaching you how to deal with it, how to get organized to pay off your new debt, and how to dodge potential scams when you are budgeting online. A secured loan can change your life for the better if you know what you are doing.