Who has and does not need credit?

Almost everybody has had the chance to buy something that was not enough money at the time. There are many who, in this situation, tend to postpone the purchase (or to cancel it altogether), but there are some who do not expect to buy, but rather to solve their lack of money with a loan.

The latter decision may be based on both the need and the convenience. There is a situation where someone has no choice but to take out a loan, but there are many occasions when it can be said about buying, in which case borrowing is motivated not by necessity but by increasing comfort or pleasure. In this post, without financial terms and computations, we try to separate the necessary and unnecessary credit cases in a lifetime.

Let’s see three examples. In the first, Eva lives in a fairly poor village. You’ll find a well-paid job in a little farther city and offer her a job. Eve can only get to work and then go home in the evening (even if she may have to work overtime) when buying a car. Since his salary so far has not been too high, he does not have the savings to buy the car of his choice, so he borrows to take on the job.

In our second example, Joseph would like to surprise his family with a new television set for Christmas. Although it works perfectly now, you know how happy your kids are with a multifunctional and larger screen flatbed. As he took out a loan for last year’s holiday, he knows what to expect, and so far his repayment has not been a problem for him.

Finally, Szabóék’s example, where István lost his job at the age of 61, and has not been given a new job since then, and his wife, Margaret, has been unable to work for her health for years. Municipal social care is not enough for their livelihood, their money is no longer saved, and there is no money left for the drugs and the overhead and food if they don’t get a loan.

In the three examples, we can find different life situations, different financial circumstances, but in all three examples they want to borrow money. Let’s examine the need for loans and the responsible nature of decisions.

At first, it may seem that Joseph makes a responsible decision, because he knows exactly what conditions he can expect and that he will be able to repay his salary. In fact, however, Joseph does not need the loan, does not satisfy an indispensable need, but spends on luxury. Because repayment is not a problem, your decision may not seem irresponsible, but an unexpected event (loss of a job, increase in interest, or a truly unexpected higher expense) can change that too.

There is no doubt that in this example, Szabó needs money to make a living. But hardly a loan will solve their hopeless financial situation. Indeed, it is likely that it would only worsen their situation, as they do not see how they will be able to repay, so they could easily get into a debt spiral. That is, they need money, but not a loan, they have to find a different solution to their lives.

On the other hand, we can say that you need a loan and probably make a good decision if you properly consider all the circumstances. Because he buys a loan to buy a car from that car that would fail without the car (and the loan). You will be able to keep your car up and pay your loan from your higher salary – and you will also love your job even better.

Who needs credit? It always depends on what you want to spend on the money you have borrowed, and your financial circumstances allow you to repay it. Of course, the loan always has a price, you have to repay more than the amount of money you have taken. It is therefore advisable to borrow only for a thing or a loan you need when you really need it. In any case, it is necessary to consider whether it is worthwhile for us to pay more in the future and to give up another thing in return for now getting the desired thing. Then the loan will be a good solution if we pick up what we need or invest in our future (for example, an apartment, a student student loan), and otherwise we don’t have enough money left in it.

PP accuses the PSOE of the debt contracted by the City of Colmenar, which exceeds five million euros

PP accuses the PSOE of the debt contracted by the City of Colmenar, which exceeds five million euros

The general coordinator of the PP of Malaga, Francisco Oblaré, has accused the PSOE on Wednesday of having left the municipality of Colmenar, during the previous term when the Socialists were at the head of the City Council, "in the most critical situation in its history", with a debt that "exceeds" the five million euros.

The general coordinator of the PP of Malaga, Francisco Oblaré, has accused the PSOE on Wednesday of having left the municipality of Colmenar, during the previous term when the Socialists were at the head of the City Council, "in the most critical situation in its history", with a debt that "exceeds" the five million euros.


Oblaré reported, this Wednesday at a press conference, that the debt is generated by bank loans of 2.7 million euros, to which we must add two million to be returned to the Board for grants that "have not been duly executed "and almost 600,000 euros of payment to suppliers.

On this payment, the mayor of Colmenar, Antonio Fernandez, has warned that "at the beginning of the legislature 1.13 million were owed to suppliers and we have already managed to pay close to 600,000 euros."

He also explained that the subsidies received by the Junta de Andalucía from 2007 to 2011 add up to a total of 1.6 million euros, but whose return reaches two million for the interest generated. Thus, the City "is obliged to return them because the previous team allocated much of these funds for other purposes" and it is "very difficult to know where they have gone because there is a single box", lamented Fernandez.

The affected projects are the construction of a day-stay center, the municipal morgue, a covered sports court, the installation of artificial turf -which has been executed but the Andalusian Government requests the reimbursement of the aid when including it in the agreement of the polideportivo-, and the recovery of the hermitage environment.

On the construction of the funeral home, the mayor added that "it is necessary" and that they are "waiting for subsidies to do so", assuring that it is expected to take place "in September". In this sense, Fernandez explained that the budget for its construction is 200,000 euros and "not more than one million as claimed by the Socialists", since "will have only two rooms and will be of an adequate size to a municipality of 3,600 population".

The councilman regretted that his administration is suffering "serious criticism" by the opposition "when it was the Socialists who for years have been devoted to squandering subsidies and municipal funds without having been able to take forward a single new project " Thus, faced with this situation, the current debt "fits more than 1,500 euros per neighbor," Fernandez underlined.

Also, Fernandez has indicated that the previous government team requested a series of bank loans totaling 2.7 million euros, "of which 24,000 euros remain in the bank account." "They have empty coffers of liquidity but full of debts," he has sentenced.

Opposition attitude

On the other hand, the mayor of Colmenar has criticized the attitude of the opposition, since he has expressed that every day "we leave the skin" for the neighbors, when the opposition "only put obstacles and complicate our lives."

Given this, the general coordinator of the 'popular' malagueños has considered that the opposition "is acting from irresponsibility, after they were unable to agree after the elections to form a government", and added that "want to drown the mayor but they are drowning the municipality. "

For this reason, he has asked for responsibility to the opposition political groups and also to the Junta de Andalucía, and has urged the new provincial delegate of the Andalusian Government, José Luis Ruíz Espejo, to "sell a hand to Colmenar", since " He seems like a good uncle. "

Finally, both Oblaré and the mayor of Colmenar have challenged the PSOE to come to an agreement with the opposition "if they want to govern in the municipality." "At least, that's what number two of the socialists from Malaga, Francisco Conejo, wants, who can not think of another way to cover the mess that has been caused there in the years of socialist management," concluded the general coordinator of the PP from Málaga.

Check here more news of Málaga.

Hamburg – Low interest rates on loans tempt many to raise high mortgages. But those who finance real estate entirely without equity should consider five possible sources of risk.


Image: Couple in front of the home 

1. Gross and net financing:

Speaking of full financing Experts, if the budding real estate owner receives a loan over 100 percent of the purchase price: Costs the house 350 000 Euro, the amount comes completely from the financial institution. That’s the net financing.

In addition, brokerage commission, notary fees, land register entry and land transfer tax must be taken into account. These costs make up to twelve percent of the purchase price. In addition, relocation, renovation and spending on new furniture are required. These items taken together correspond to the gross financing.

Anyone who wants to borrow the money for these additional expenses, requires significantly more than a 100-percent financing. Most banks either do not agree or require a risk premium in the form of higher lending rates. Michael Knobloch from the Institute for Financial Services (iff) in Hamburg therefore advises that at least the ancillary costs and the move out of equity be denied.

2. Term and repayment:

Whoever receives a lot of money stutters for a long time. With a 100 percent funding with only 1 percent repayment, it can take a long time for the mortgage to be paid off and the real estate owner finally in-house master. Christiane Kienitz, adviser for real estate financing at the consumer advisory Hessen, calculates: A loan of 150 000 € will be fixed over ten years. The effective interest rate is 1.5 percent per annum, the repayment rate is 1 percent. After 10 years, the remaining debt is still around 133 800 euros.

How long it takes for the loan to be fully repaid depends, among other things, on the interest rate then due on follow-up financing. If the remaining debt has to be paid 6 percent interest, Kienitz claims that the loan has a total term of more than 34 years. If the follow-on interest rate is 3.5 percent, the loan is repaid after almost 44 years. As long as the bank is in the land register.

The banks had responded to this situation: Meanwhile, the standard repayment has been increased to 2 percent to prevent extremely long maturities. “Anyone who wants to further optimize their financing, repays even higher or at least agreed special repayments.”

3. follow-up financing and price fluctuations:

Mortgage contracts usually set a fixed interest rate of ten years. If interest rates rise, it will be tight if full funding is granted by the end of the deadline. Because there was little repayment from the loan originally taken, the burden of debt reduction increases instead of falling as a result of the low level of debt relief. “High follow-up rate for follow-up financing,” Kienitz sums up the phenomenon. Priceless rates then bring many fully-funded property owners to the brink of ruin.

Michael Knobloch sees another risk in market price fluctuations. Falling real estate prices or depreciation could bring borrowers into trouble who have to leave their homes or leases during the repayment period. “They bought for 350,000 euros, but can only sell for 300,000 euros.” On the balance, the seller remains seated.

4. Early arrears and compensation:

Financial institutions can pay the early repayment of a loan expensive. You are legally entitled to a prepayment penalty if a fixed interest rate was agreed in the contract. This compensation can quickly be in the five-digit euro range.

This burdened with a full financing considerably: A acquired for 350 000 €, fully leveraged house is to be sold after just one year. Due to low repayment, the owner still stands with 348 000 euros in the chalk. The bank also demands a prepayment penalty of 15,000 euros. Below the line, the debt increases to 363 000 euros.

Missing the money for lack of savings, to pay the compensation out of pocket, a new – and more expensive – installment loan is required. Otherwise the house sales wobble. Knobloch: “The bank only gets out of the contract if the mortgage is canceled, which will only happen if there are no more debts.”

5. Validity and vicissitudes of life:

The low interest rates tempt to raise high mortgages. In the assumption “that’s alright”, some willing consumers are inclined to self-esteem, according to the Frankfurt financial adviser Max Herbst: “I live in a luxury apartment, then I buy a luxury apartment.” Opinions often differ as to whether the object is worth the money. While the borrower wants to flick for the dream apartment half a million euros on the table, the bank wants to grant only a loan over 400 000 €. In their view, this equates to 100 percent financing.

Divorce, children, job loss, illness: In a full financing every change in income beats immediately into the office. Anyone who has already pushed the limit with the rate usually no longer has a chance to absorb financial bottlenecks. Threatens then the emergency sale, the disaster is there.


Determing The Best Forex Broker For You

Payday loans are lovely financial help provided to help you to gratify your any kind of short-term but urgent requirements and wishes which comes up in between months. These financial loans are there to help you in the least possible time with no hurdle towards you.

While technically not ‘scams’, you should also be wary of spending good money for training courses that will promise you systems which are ‘guaranteed’ to earn you higher profits. If the course promotes that their system may earn you huge profits along with minimal risk, or ensure you 40% return in your money in six weeks, take the claims with a huge grain associated with salt. Experienced traders realize that the forex market is a time marketplace – while it’s possible to create large amounts of money in immediate trades, finding those rewarding trades is fast instant loans online a matter to be in the right place at the correct time. Which means putting in time and the effort to be presently there.

Binary options have been around for a long time. Binary options are a form of buying and selling whether it be by means of Forex (currencies), stocks, futures, or items. So the concept is nothing at all new. I might add that to ensure that a U. S. entrepreneur partake or be solicited by any binary options stock trading company, the company must be managed by the commodities futures trading Commission. If they happen to be not regulated here in the particular U. S. then it is usually illegal for that company in order to solicit in any way shape or form to a You. S. investor. The simple way you should check is by calling directly 1-866-366-2382 to find out for yourself if the firm is regulated in the Ough. S. It only takes a minute to ensure that you protect your hard-earned funds.

Watch a “search and destroy” move? That’s when the earlier high gets spiked, then your previous low gets spiked, then the market goes back into a middle chop. At that point, really disappointing no matter what technique a person used. Just grin plus bear it and keep viewing for your next set up. In case you survived with a small reduction, you were lucky. Remember, an individual is perfect to make cash – just better than the majority of.

Those were excellent days trading futures. We still look back and understand my innocence was in ways my strength. After all, it had been a bull market throughout commodities and “drunken sailor” trades usually work out. But since the years passed, so performed the bull, bear plus chopping markets. I payday loan fast approval figured out how the commodity futures prices could defeat you up. I changed my intense aggressiveness to become conservative in a speculative market. But that’s the way you ought to be.

Is the broker regulated? In case you looking for a broker in the United States associated with America then you need to ensure that this broker is registered along with commodity futures market Commission as a Futures commission merchant, this will shield you against any scams.

4- Dedication of traders(COT): We all know there are many players in the forex market. There are individuals like me and you also, Banks, brokerage firms, hedge funds, central banks, authorities agencies etc. But the critical players in the market would be the ones with massive funds. Maybe billions to the industry. These key players in many cases are called the big dogs. The reason why could they be the key players is the fact that they have got colossal money to industry. So when they place large orders, they are likely to impact the market more than all of us, the individuals.

Once you identify these refined signals, the market will show why it screamed with you to buy. Once the large boys are aware of this delicate change, they will usually throw the market to a new reduced to shake out the particular contracts they need. Then from nowhere, the volume comes in as well as the market takes off upwards just like a rocket. The signs are there if you know what to look for. Not always, yet enough to give you that small edge and more critical info needed to take on the risk for your moment.

What Are The Factors Of Combining Private Student Loans?

Have you struggle to meet your monthly bills? If you do, then debt can be a practical option. However, there are lots of myths about the process which befuddle the debtors. Read onto understand 5 standard debt consolidation misconceptions and truths.

A good healthy dose associated with sustained inflation is just what we want, according to Harvard’s Ken Rogoff, Professor of Economics plus Public Policy. That this suggested inflation would plunge up to a billion more individuals around the globe into poverty, will be nothing compared to the benefits of an even more favorable Debt/GDP ratio, in the view. In fact, Prof. Rogoff suggests that the Federal Government could after that use this extra deficit inhaling and exhaling room to continue stimulating the particular economy- a course it has been guiding so effectively over the last 3 years. Surely that money will indeed trickle its way back right down to the Average Joe’s pocket ultimately, he posits.

‘Certainly, a little bit of pumping, say 4 percent, 5%, for a few years would be the least of our problems, and it might decrease the burden of these(debt investment plus increasingly public) debts since people’s wages go up. ‘, he opined in a Nighttime Business Report interview immediately. Although wages for the typical American have remained smooth for a decade or more, and also have actually declined relative to pumping, Mr. Rogoff believes that will, somehow, this will change.

Another reason was given (worst-case scenario) is that the European worries may broaden out to fears in regards to the massive budget deficits in the U. S. and the You. K. Is that why matters of finance and advantages of equity investment dropped? When that is so, then precisely why has there been robust demand for Treasuries over the past couple of weeks? Investors have not shied far away from buying the sovereign debt from the U. S. We have noticed talk about the U. T. budget deficit, etc . and so on It just talks. Neither this U. S. nor the particular U. K. is the focuses on of the selling.

The types of equity investments or perhaps hard money lender probably will give you an interest only bank loan with a balloon payment following three years. What this means is they are trying to lend you those finances for three years and you should be able to refinance the house with a typical mortgage at that time.

For Might 2011 the real unemployment stats are that in May joblessness increased by 454, 1000 workers and has now increased to 29. 3 mil people. This makes the actual unemployment rate 18. 2%, not 9. 1% since reported by the BLS. We now have lost 12. 6 mil jobs since December 3 years ago and 4. 6 mils since December 2008.

If you are a lot of you have moved out of stocks and shares and into bonds since you are still feeling the effects of 2008’s horrible decline and have made a decision you’re “not gonna carry it anymore! ” Plus you might have read that bonds possess appreciated nicely over the past 12 months and are safer. All apparently good reasons for your actions plus you’re not alone.

The legislation says that the directors need to faithfully represent owners. These types of directors are not doing that well. Buffett’s first question associated with any potential board associate is, “Does he believe like an intelligent owner? inch Since Berkshire is in the company of running other companies, they need board members that have “business judgment. ” There is not much of that around based on the master of investing.

The company is majority-owned by means of advantages of equity investment firms Apollo Worldwide Management LLC and TPG Capital. Both firms carry a combined 69. Nine percent of the company, that they can acquire in a $30. Seven billion buyout in 08 that included $12. Four billion in debt.

This really is far more complicated than just carried away lenders offering ‘sub prime’ financial loans to risky borrowers; after that, seeing the high risk/high produce enterprise blow up in their looks. It is more complicated even compared to Great Depression because now we have been far more affected by the Global Economic climate or Economies. Specifically, The Japanese and Asia in the 1980’s and China in the earlier 2, 000 are added greater than 2 billion workers towards the Global work force. This practically doubled the Global workforce. This method ‘stole’ jobs from United states workers in this country.

I am clutching at straws, I know, but there is a concept running here! Not to deceived you all though, To be honest, that Getty has been instructed to make money and make this faster than they are, by means of Hellman & Friedman needless to say. It’s obvious. They are springing up to three years of ownership and so they won’t want to hang around over and above five years unless they must of course. It’s not the way of types of equity investments companies.


1. https://financialaid.wsu.edu/documents/2016/06/ftc-document-private-loans-information.pdf
2. www.ideapractices.org
3. http://timesofindia.indiatimes.com/business/india-business/sbi-waives-processing-fees-on-personal-loans/articleshow/60156736.cms