wahlau's online hut

Remember my writings about loans and money managements? I watched tv yesterday and saw a program on how an expert help families to get out from they debt situations. yes, debt problems. As how impossible it might seem to many (especially those who already faced/experienced the same problems), the show does tell us something - it is possible to get out of debts.

i do believe when one has such issues, it is not the problem of the institutes who gave them loans or mortgage possibilities. The businesses are just doing they part - make profit. The problems lies in the lender's side - they do not understand what put theminto they current trouble. Management would be one main reason why they end up in trouble.

Choosing the bank that offers the best secure loan plan or gives the best and reasonable rate is an important decision. Evaluating your repay plans is even more important than the former. Most of the time people plan with the most optimistic view - everything should work out if no accident happens. The truth is - accidents do happen, else they will not be called accidents :)

If you happened to mortage a property, and found out a better mortage plan which tempts you to remortgage, do think about it twice. The fees involved, and changes to your financial plans might not be so worth it after all. We need to have the big picture. Once the right big picture is set, we have to then hold on to our principles. Don't change or move around just for the small goodies. At times it is these small goodies that spoil the whole plan. 

The tv program made real good advice. A family is taught to plan and buy only things they need, and they can afford. No more new stuffs for the period of time, and shop in second hand shops when some needs are there. They actually can squeze out 180Euro per month according to the plan offered by the debt counsellor! that means, in some time they can be debt-free again. 

Banks offering loans opportunities are not there to trap you. Their job is to offer monetary help when you need it - provided you can pay back too. Some banks even lower their % to make sure people choose them. When you have planned well enough, getting a loan at the right time will maximize your financial capabilities without risking it. It all come back to you, perhaps - how much do you know about the system, and are you ready to use it as a tool that will help you?

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