In recent years we have been observing a boom in the loan market. New loan companies grow like mushrooms after the rain and more and more Poles use loans. According to a study by the Credit Information Bureau, it is young people under 32 who are the most likely to borrow.
Quick loans are very tempting due to their wide availability, quick payment and easy procedure, reducing bureaucracy to a minimum. With loans, you can cover unexpected expenses, meet your current needs, take advantage of unique opportunities and make your dreams come true. In what situations do we most often reach for loans? And when should you avoid loans? We invite you to read.
Changes, changes, changes
In recent years, we have seen a real revolution in online loans in Poland. This is due to the fact that many people struggled with problems and difficulties associated with a very strict credit policy consisting of increasing the required own contribution and tightening the requirements for potential borrowers.
More and more people applying for a loan received a negative answer or resigned from the loan due to long waiting times and troublesome formalities. Therefore, alternative forms of financing began to be created, which differentiates them from traditional banks by offering loans tailored to the needs of customers, easier, faster and more flexible.
These are online microloans, also called payday loans or quick loans, which have been experiencing a renaissance in recent years. The goal of online payday loan companies is to adapt to customer requirements and improve their offer, establishing higher loan amounts and enabling more convenient repayment in installments. Thanks to this, they can compete with bank loans, and even have an advantage over them due to the shortened waiting time for the loan and minimum formalities.
When misfortunes fall in pairs
Non-bank loans work very well in unforeseen, stressful and crisis situations. It would be ideal to go through life relying only on your own financial resources. However, we know well that this is not always possible … People who do not achieve high earnings, often have a problem with reaching the end of the month, not to mention putting money away for a rainy day.
And what if you suddenly find yourself in a crisis situation and you run out of money for the most necessary expenses, such as buying medicine, food or a transport ticket? What to do if a computer or car breaks down? Or unexpectedly get sick and you will need to see a doctor or dentist? All you have to do is make the boss late and you may already have problems paying your rent or bills.
If you don’t do it on time, you may have to look for another apartment. Do you want to risk and ride free public transport? Will you not take medicine and let your health problem get worse and have serious consequences? In the above situations, you will lose more than you gain if you do not solve these matters in time.
This opportunity will not come again
In addition to the crisis situations we are writing about, there are other situations in which it is profitable to take out a loan. If you plan to go on vacation and suddenly there is an opportunity for a very favorable “last-minute” trip, in such a situation it is also profitable to take out a loan. Or maybe you’ve been hunting a swimsuit for a long time and unexpectedly find the perfect copy at a very high discount? If you don’t buy these things now, then you may have to pay the full amount afterward.
When the holidays come, there will be no time to spend time looking for flip flops, a hat or sunglasses and then you will most likely go to the first better store and make a purchase there at the full price.
If you plan to buy a car, look around for last year’s year – such discounts can be used in the first half of the year. It is always worth buying well in advance because then there is a greater probability that we will be able to search for real price bargains.
An investment in yourself
Poles equally often decide to take advantage of the loan when the opportunity to invest in themselves arises. It always pays to improve your qualifications, because it will bring measurable benefits in the future.
If you have some free time, sign up for a computer course, and maybe you will be interested in learning German, or consider going to postgraduate studies? By developing new skills you will increase your chances of promotion, finding a better job and higher earnings.
If you live in a small town and your career opportunities are limited, sign up for courses, training, tutoring, and then consider moving to a larger city where you will have a more interesting and better-paid job. Remember, excess knowledge has not hurt anyone yet?
Borrow in installments
In recent years, we have been observing the transition from micro-loans, which were used to cover sudden expenses, to the next stage – new credit lines with repayment options in installments. What counts is not only the speed, convenience, but above all, favorable conditions for repayment of the loan, enabling repayment of borrowed money in installments.
An installment loan is much better than a loan that has to be repaid quickly and such loans are most often used by Poles. Thanks to the installment loan, you don’t have to delay your dreams and wait half a year before you collect money for a new TV.
However, thanks to more installments, you have time to calmly and stress-free money borrowed. This is a great convenience for people who do not achieve high income and need to put off for a long time to be able to buy something. Quick installment loans are one of the best conditions for taking out loans offered by loan companies in Poland.