Take interest-only mortgage

In 2013, interest-only mortgages were faced with new rules: new interest-only mortgages are no longer eligible for mortgage interest relief. Existing interest-only mortgages still. But what if you want to refinance your interest-only mortgage? And can you just take your interest-only mortgage if you move or not?

Take interest-only mortgage

Take interest-only mortgage

You can always take your interest-only mortgage when you move to a new home. The part of your mortgage that you have now taken out without repayment retains the conditions that currently apply. For example, the mortgage interest and the fixed-rate period do not change if you include the interest-only mortgage.

If you move to a more expensive house, you may want to increase your mortgage to finance this higher amount. For this new part you have to take out an annuity mortgage or a linear mortgage if you want to use the mortgage interest deduction. If you choose to take out an interest-only mortgage for this amount, only this part of the mortgage will not be eligible for the mortgage interest deduction.

Repayment-free mortgage

Repayment-free mortgage

Instead of taking your repayment-free mortgage, you can also transfer it to a new repayment-free mortgage without affecting the mortgage interest deduction. The costs for the transfer are limited when you move, because you do not pay penalty interest. You do pay advice and closing costs and the costs for re-registering the mortgage in the registers of the Land Registry.

Whether re-transfer is advisable depends on whether the lower mortgage interest rate compensates for the re-transfer costs. Also keep in mind that you opt for a mortgage with good conditions, for example around extra repayments. This way you prevent that you will have to incur additional costs at a later time.

Mortgage repayment-free without relocation

Mortgage repayment-free without relocation

You can always transfer your current interest-only mortgage to a new interest-only mortgage from your current bank or another bank, even if you do not move. However, sometimes you pay a penalty interest if you opt for this before the end of the fixed-rate period. So always check whether you are paying a penalty interest rate and how high it is for you to calculate whether the lower mortgage interest rate compensates for these costs.

Transfer interest-only mortgage to another mortgage type

Transfer interest-only mortgage to another mortgage type

In recent years, there has been a growing awareness that an interest-only mortgage is not always beneficial in the long term. You do not fully repay the mortgage loan, which means that you also continue to pay mortgage interest after the maximum period of 30 years for mortgage interest relief. Other mortgage types do not have this disadvantage.

However, switching over to an interest-only mortgage to another type of mortgage involves a number of snags. The monthly costs of an annuity mortgage or linear mortgage are higher than the monthly costs of an interest-only mortgage. You must be able to cope with this monthly increase in costs. In addition, in some cases you pay penalty interest and you pay advice and closing costs. A financial adviser can help you with this choice.

Taking an interest-only mortgage to a new home smart?

Taking an interest-only mortgage to a new home smart?

Whether or not it is smarter to take your interest-only mortgage with you when you move house depends on your current mortgage and the conditions of the new mortgage. Do you pay a lower interest rate with a new mortgage and does the bank apply better conditions? And does the saving outweigh the costs that you incur for the transfer? By working this calculation out well, you will soon see whether you can better take your repayment-free mortgage or take it over.

Interest-Free Loan to Housewives (State-Supported Grant)

Housewives can apply for bank loans to earn additional income or to establish their own businesses. In this way, they can start their business life and support both their family income and their own budgets. Both banks and government agencies can offer interest-free loans to housewives . If you want to take advantage of these credits you can get information by reading the entire article. At the same time, these loans can be provided not only to start a business, but also to meet your other basic needs. Let us examine the possibilities of interest-free loans .

How to Get Interest-Free Credit to Housewives?

The possibility of interest-free credit to housewives who want to own their own business comes from the state. With the support provided by the state, housewives who start their own business can receive loans without interest . Housewives who work under difficult conditions to contribute to the family economy or who do not work at home because it is not possible to work under these conditions will establish employment for many unemployed housewives by establishing interest-free loans to housewives provided by the state. There are many jobs that many housewives do as a home hobby. There are many interest-free credit support provided by the government for women who want to turn this hobby into a business to generate income.

These supports can be used not only to start a business, but also to develop or upgrade your existing business. If you want to make such moves, you can benefit from interest-free credit supports provided by the government or as a result of agreements made by the state and banks. In grants where many supports are possible, thanks to the supports, housewives will become the bosses of their own business and individuals with economic freedom. The information about the grant loan support to the housewives and the district loan is as follows;

District Office Loan for Housewives

The District Governorate and Social Welfare Foundation provides a business start-up loan of 15 thousand pounds to housewives who want to own their own business. The district housewife loan, which is not repaid for a year, is repaid without interest in 3 years. The most important criteria sought in the loan application is to ask for 2 officers as guarantor.

Recommended Article: Women Incentive Loan

Provided by the District Governor and Social Assistance Foundation for the housewives’ loan to the district governor, they will be able to earn more by reducing the cost and making their own money by making their own production for themselves at home.

Non-Refundable Loan to Housewives

Non-Refundable Loan to Housewives

A credit facility is also offered to housewives by Government. Government, which provides a great deal of support to women who want to have a job, can provide support up to 80% according to the applications. The things you can set up for the non-repayable loan from the state to the housewives; It consists of homemade food shop, underwear shop, women’s shoes and accessories shop, and women’s hairdresser. Housewives who want to benefit from this loan go through a priority 4-day training and at the end of this training, they create a business project. You can apply for a non-refundable government loan by applying with the resulting business project and you can be among the women who have their own financial freedom by starting your own business.

You can get more detailed information from Government Supports.

What is Micro Credit for Housewives?

Another credit for housewives is micro credit . So what is micro credit? How to get micro credit? Micro-credit is the loan support provided by 5 housewives who live in the same region and come together to start a small business and provided approximately TL 1000-3000 . The loan is interest free and repaid in the same installments. Although small, you can operate in many businesses.

How to get micro credit?

Support is provided if 5 housewives living in the same region apply to public education centers. As in many other fields, there are those who abuse goodwill. In order to prevent this abuse, the authorities supervise you every week and sign them regularly. If you use the loan in an area other than the job you specified at the time of application , you will be penalized. When used properly, microcredit provides a good start for housewives. So much so that there are housewives who start their own business with micro credit and now have many employees.

The works that can be established with micro credit are as follows;

  • Hairdresser’s salon (low budget)
  • Tailor,
  • Crafts,
  • Decoration,
  • Ornament, ornamental materials,
  • Henna organization, equipment rental

 

Loan for Housewives

You want to contribute to the economy by creating your own business and create employment, but you don’t have money? The government provides a business start-up loan to housewives who want to start their own business. For example, you opened a female hairdresser. In the first stage, you will be eligible for 50.000 TL grant and 100.000 TL interest free loan. You can also apply to the interest-free loan program of TL 50,000 and benefit from this loan.

50 thousand pounds of graceful support and 100 thousand pounds of interest-free credit will be quite sufficient for a good start in order to open a business for housewives who do not have a capital to start a business. You can do business opportunities with non-refundable 50.000 TL ;

  • If you trust your talent and taste in design, you can open a clothing store where you can sell your designed clothes.
  • If you are a person who works wonders when you get a pair of scissors, you can open a female hairdresser that puts forward great models.
  • You can open a beauty shop that uses various accessories and personal care that attracts the attention of women.
  • You can open a shop that makes great home-made dishes such as brioche and ravioli.

You can make a good start with a good budget by adding the loans provided by the banks to the housewives besides the business start-up loan given to housewives.

Everything you always wanted to know about your credit score

I was able to spend a good part of the time through the Credit Score site. Here you can get your most recent Credit score for just $ 15, 95. But the site offers much more than just your score. They have several other ‘tabs’ on their home page that offer you everything from a variety of products related to monitoring and protecting your Credit score to the latest low-credit credit cards.

Credit Score Defined

First, let’s define what we are talking about. In the current ‘credit-oriented’ world, all different scores and reports can be confusing. Your Credit score is determined by the Corporation and is a way to measure the creditworthiness of a person . It is a score that can vary from 350 to 850. There are many things that influence the determination of your score (the whole process is complex and is very well monitored). It contains, among other things, your standard history, the current amount of debts that you have and the length of your credit history.

This number is used to determine everything from your mortgage interest to conditions on your credit cards to interest rates on car loans and is used by around 90% of banks in this country. And for the most part, your Credit score is the only thing that counts when it comes to determining these rates in your financial life. Any other so-called “scores” that are there are really just counterfeits.

Credit Score gives you direct access to your Credit score for just $ 15, 95. As I understood the history of Credit Score, I discovered that access to this score was free some time ago, but not anymore. I now read in many places that it is considered “not free but the only score that matters.” As an example they give, a swing of just 100 points in your Credit score would mean a $ 40,000 difference in extra interest on the life of a 30-year mortgage.

Credit Score is a simple and easy-to-navigate site. There are four tabs on their homepage that all contain different products that are related to your Credit score. Credit scores and Credit reports lists all the products they offer, and offers all of you a number of benefits with regard to your score. On the Financial Help Center tab you will find an overview of why your score is so important and this information is linked to the various products they offer.

One of the most important pages on the internet

For me, the Education tab is one of the most comprehensive pages about your credit score that I have not yet seen on the internet. Here you can get a detailed explanation of what your score is, what your credit report is and what influences and does not influence them. They give you tips and advice on how to improve your score, how to solve errors in your report, how to prepare for large purchases, along with forums, videos and a question and answer section on just about everything that is financial. They also offer various interactive “calculators” that can help you determine everything from how much it would cost to pay off a credit card for how much money you can afford to borrow for a mortgage.

The site has a tab called Credit Card Center, which gives you a fairly comprehensive list of just about every credit card you need. Here they provide offers for balance transfer credit cards, credit cards with the best reward programs, cards to help you build your credit, business credit cards and an advice section to help you decide which card is right for you.

Finally, they have a community tab with forums on topics related to just about everything that is financial.

Credit Score is basically your one stop shop for everything related to your credit score. I really can’t think of anything they’ve left out. There are many places on the internet that offer different types of scores and reports, and so on, but your Credit score is the only one that really matters. Most other sites are just there to sell you products that you may or may not need, while Credit Score provides you with relevant relevant information on everything that counts in determining that score .

If there is nothing else, the page about Education should be in everyone’s favorite Maeldúin list. The information provided there is simple and is not intended to induce you to purchase a particular product or credit card. It offers unbiased and objective advice on everything that is both positive and negative with regard to your credit score.

Would i buy it?

Not often do I recommend spending extra money when it comes to managing your debt or your creditworthiness. However, I think I would definitely try Credit Score if I ever had questions or concerns about my Credit score. It is a great tool to have at your disposal if you are trying to dig your way out of debt, if you are trying to understand your score, or if you are preparing to make a major purchase.

But let me quantify this a bit. Your Credit score is largely based on information included in your credit report. I would NEVER pay my credit report, because you can get this report once a year for free at one of the three major reporting agencies. However, I have not yet found any sites that can give you your score for free. All sites that claim to do this more than likely do not give you your real, actual Credit score.

The world of credit reports and scores and managing your creditworthiness can be overwhelming and intimidating. One of the best ways to navigate through all the information you need to make informed decisions regarding your credit is at Credit Score.

Large proportion of households therefore have little or no savings

Saving is important for many people: one saves for the study of his child, the other for that beautiful vacation or for a new car. Yet not everyone saves enough. 15 percent of households have no savings and another 20 percent have less than 2,000 euros. How much savings should a family actually have and what is the average savings in the Netherlands?

Average savings

money

A large proportion of households therefore have little or no savings. The average savings differ considerably among households that do save. How much you can save depends on your home, family situation and income. But on average the savings of families saving according to Credit Checker are:

Family composition Median savings amount
Single person of 25 years in a rental home and an income of 1,500 net per month 5,000 euros
Couple of 30 years in a owner-occupied home and a car worth 5,000 euros and an income of 3,500 net per month 39,750 euros
Couple of 30 years in a rental home with a car worth 5,000 euros and an income of 3,500 euros net 16,600 euros
Family with 2 children in a owner-occupied home with a car worth 10,000 euros and an income of 3,000 euros net per month 27,750 euros
Imagine having children in a house for sale with a car worth 10,000 euros and an income of 3,000 euros net per month 35,200 euros

Those who live in owner-occupied homes save on average more than tenants and couples with children save less than couples without children. Families with a higher income also save on average more than families with a lower income. After all, they have to make every effort to make ends meet every month, and then saving quickly comes to an end. Households with sufficient income put an average of 9 percent of the income in a savings account. But if you have a low income, it is quickly impossible to save so much.

How much savings do you need?

How much savings do you need?

How much savings you need depends on your situation. Tenants and couples without children have to save less than buyers and couples with children living at home. Even if you have a car, you have to save extra. The guidelines according to Credit Checker are as follows:

Family situation How much savings needed
A single person in a rental home 3,550 euros
A couple without children with a home for sale and a car worth 5,000 euros 4,000 euros
Couple without children with a rental home and a car worth 5,000 euros 4,000 euros
Couple with two children, a house for sale and a car worth 10,000 euros 5,000 euros

With this amount of savings you can absorb unforeseen expenses, such as a faltering car, a boiler that fails or a washing machine that breaks down. Extra savings goals, such as a vacation or your child’s study, fall outside this minimum amount.

Average savings – Tips

Average savings - Tips

If you do not save enough, this may cause problems in the future if unforeseen costs arise. That is why it is important to consider how you can supplement your financial buffer. This starts with opening a separate savings account, so you always see how high your buffer is and you don’t accidentally spend the money on other goals.

Not only does opening a separate savings account help you save more. The following tips also help:

  • Make an overview of your income and expenses. First you look at what you can possibly save on (cheaper insurance? Too expensive groceries?). You then determine how much you can save each month. Even if this is a small amount. People who save are more aware of their money.
  • Always transfer money to your savings account at the start of the month. Set up a direct debit if you don’t think about it yourself.
  • Consider transferring additional amounts, such as your holiday pay, directly to the savings account. If you need the money, you can easily get it back. But if you don’t need it, you don’t spend it either.
  • Replenish your savings account as soon as possible if you have paid unforeseen costs. This keeps the buffer up to date.
  • Agree with yourself (and possibly your partner) for which costs you will or will not use the savings account. This way you avoid withdrawing amounts too easily.

Fast credit without documents with micro credit very urgent

Is it possible to ask for a quick loan without a salary document? The answer is no. No financial institution can give a loan without first studying your income more closely. the system requires credit companies to check the creditworthiness of the customer before entering into a contract. Therefore, if you are offered a quick loan for not supporting (income), it is very likely a scam and we advise you to suspend all communications with the said lender. Even under a fast personal loan, you will always have, without exception, supporting documents to present. many legitimate credit companies say “unsupported” loans. What you need to understand in this place is that these developers offer personal loans, for which you can choose the desired amount, the repayment period and do not have to justify your expenses. it is important to understand this difference: a loan that is said to be exempt from all proofs does not correspond to a fast credit exempt from all payroll records, but to a personal loan for which no purchase document or estimate is available. pass.

Quick? Yes but how?

Is obtaining credit fast? with the crisis that France experienced in 2008, credit agencies and other banks have become even more cautious when it comes to offering consumer credit. To have a fast credit, the solution is now on the web. in fact, by accessing the offers of various credit agencies, it is more affordable to find an answer. Think carefully before using in the emergency When you seek to acquire credit quickly, it must not forget to be careful. Making a hasty decision can have serious consequences and easily lead to over-indebtedness. However, take time for reflection and remember that the Scrivener law allows you to retract for 7 days from the signing of the credit. To emphasize: before you take a credit consolidation, it is advisable to take stock on your borrowing capacity and find out about modern borrowing rates. Does fast credit delivery cost more? Being in a hurry does not cost the same price. Many credit agencies now provide a basic answer immediately. In addition, funds can be paid within two days, depending on the number of supporting documents. The rate practiced is in no way affected by the fast granting of credit. Generally, proofs provoked are Identity documents. Home bills. Proof of residence. If you wish to subscribe a credit, you must submit the following proofs. : Auto-moto loan: you must provide the lending authority a photocopy of the registration card for a used car. For a new racing car, you must submit a purchase order. lookout work: You must submit a photocopy of the quote or purchase order for the products. not

Today, there are more and more requests for credits. In action, any household may need liquidity for various reasons.The immediate credit for not document in 24 hours is one of the solutions to fund his project promptly. On this page, you will know more about: What is it? immediate credit in 24 hours and how does it work? Is it really possible to benefit from a personal credit in 24h? how to subscribe to a 24h credit? n 24-hour fast credit will not be a secret for you when you have finished reading this page!

Most sites that offer to have a quick credit in 24 hours are not French:

Often Swiss or Belgian, they can actually find a quick solution to acquire a loan, but they do not affect French residents … here are some tips for those who want to find a fast credit in 24h 100% french. How to go to acquire a fast loan in 24h? fast credit online on the internet, the supply of adapted credit is flourishing and many sites offer such a solution in less than 24 hours. What is it really? First tip before peeling the summary of all the sites that make you an eye: learn to interpret between the lines! Many play in action on the words and the 24h deadline is actually only the first phase of your credit application which consists of the production of your file to a consultant. This does not relate absolutely to the agreement of the organization for the actual loan! What is often promised to customers is a basic solution within 24 or 48 hours. But this idea solution is by no means a loan offer! It is only an assessment of the type of credit that you could acquire according to a multitude of factors (monthly income, expenses, debt ratio, etc.). It will then be necessary to prove the accuracy of all this personal information to the bank or credit institution which will then make a thorough study of your application and your file. This is only after that the offers of loan you will be transmitted … A journey that takes more than 24 hours, even in the most vivid banking institutions! In the emergency, it is much easier to be fooled; Also, if your financial necessities are really crucial, be careful!

In conclusion

Purpose of Express Credit Customized credit that allows the financing of all your movable projects. This is a character loan. The APR can change from 8, 49 to 14, 5% and repayment period from 30 to 120 months. This credit allows us to give you a solution the same day and to pay you the money in the 3 days that accompany your request. Interest rates vary depending on your project. We invite you to be guided by our simulator for concrete examples. Who can contract a fast credit? everyone resident in Belgium or Luxembourg who wishes to borrow from € 2,500 for not ceiling.Conditions of granting an absorption credit? be in possession of an identity card or an official residence permit. Justify a satisfactory solvency situation. Work in Belgium or Luxembourg. Ideally, do not be stuck at the National Bank of Belgium although solutions exist if this is the case.

Famous Money Phrases: Truth or Myth?

There are some famous phrases that may make sense at first glance, but if we think better, we will see that they have loopholes and may not lead to better financial decisions.

We separate five examples from them to show what is true and what is myth.

“Money is never too much”

Myth! Money is related to happiness, but to some extent. According to a study by Princeton University (USA), conducted with over 1,000 people, who received less than $ 75,000 a year complained more of sadness and stress from day to day problems. However, above this range, the survey found that more money did not mean more happiness. For these people, happiness was related to personal events and personality.

“Money buys everything”

Myth! Almost everything has a price in money, but in every generalization, there are exceptions. We must not forget that sentimental value often exceeds any amount on paper.

A curious example is the proposed millionaire sale rejected by the owners of a townhouse in Vila Madalena, in São Paulo. A builder, who bought all the lots around the townhouse for a high-standard development, offered a high amount to the family who owns the property. The family, however, declined because the left is left to the family matriarch, widow Angelina Martins, 94.

In the building work samba house, carpentry played for 15 years by a couple of northeasterners and a Portuguese barber shop that has been in operation for almost 60 years and was afraid to find a new place for their business. This time the money did not speak louder.

“Our happiness depends more on what we have in our heads than on our pockets” 

"Our happiness depends more on what we have in our heads than on our pockets" 

Truth! If a certain amount of money can help you deal better with sadness, without a healthy mind you can not achieve happiness. Who says this is nothing less than the man considered the happiest in the world, Matthieu Ricard.

Former molecular biologist, the Frenchman Matthieu left his career to become a monk in Tibet. After a neuronal study at the University of Wisconsin in the United States, it was found that the monk’s brain, in meditation, has a far above average ability to experience feelings of joy and positivity.

Matthieu acknowledges that life implies various material needs, such as medicine, food, education and entertainment, but he says that one should not deny the inner needs. “Spending always falls on our feet and we must be sure that when adversity comes we will know how to circumvent it with our inner strength.” Your mind can be your best friend or your worst enemy, “says the monk.

“We do not get rich thanks to what we earn but what we do not spend” 

"We do not get rich thanks to what we earn but what we do not spend" 

Truth! Maybe this is one of the truest money phrases! Few people have enough money to fulfill their desires, so it is fundamental to know how to choose, of course, according to the reality and the priority of each one. A dinner at a restaurant can be replaced if you want to save money for a trip. Finding rides on the way to school or work can save a significant amount on gas. Even household bills can be reduced by saving electricity, for example.

 

Bank overdraft fees

The main essence of overdraft is the use of borrowed bank funds. But in no case should not be confused with the loan. When an overdraft fee is debited from a client’s card, the features of debiting an overdraft fee in Bank and what is this procedure in general, to whom this service is connected, what is overdraft in principle – these and many other questions will be dismantled now. First of all, it must be said that overdraft is of two types:

Technical overdraft features

Technical overdraft features

Practically any owner of a plastic bank card came across a technical overdraft. And we are talking not only about Bank cards, but also about plastic products of other banks. Technical overdraft occurs in two cases:

  1. The client of a financial institution makes an online payment for some goods or services, but the addressee accepts payment in another currency. Not the one in which the client has a bank account. For example, payment “plastic” of Bank, on which rubles, foreign goods. And with the purchase of these goods is automatically converted. Due to the currency difference on the card account, a small monetary “gap” can form or a negative shift. And in order to eliminate them immediately, the bank uses its own funds, which forms a small debt. However, there is no need to worry, since the writing off of overdue overdue debts, as a rule, occurs quickly and without problems, and the amount of the debt itself is almost always small.
  2. The second case is much more common. This overdraft came across almost every plastic card holder. Here everything is connected with the transfer of funds to the client’s bank card. It is a transfer – through international payment systems from electronic wallets. Because if you replenish your card account by depositing cash through an ATM, the holder’s actual money will instantly transfer to electronic form. And will be fixed on this account. Another thing is when a card account is replenished immediately with electronic money. The holder of the “plastic” after the transfer, for example, from the same wallet, in a couple of minutes, an SMS message is received about the transfer of money to the card.

But the fact is that it is not directly the money that was transferred, but again the money of the bank. Those funds of the holder that were on the electronic wallet, really come only after 2-3 days. And if a client withdraws money up to this point, he will have a debt to the bank. No, of course, the amount of this debt does not equal the withdrawn amount. The cash will still come. Rather, it is a small commission for the fact that the client did not wait for “his” money, but used the “bank” funds. The overdraft fee of such a plan is tenths of a percent. For example, from a thousand rubles a fine for urgent removal will be only about a ruble. Therefore, these little things people do not even notice.

Overdraft as a microloan

Overdraft as a microloan

A special overdraft that can be connected as a separate service is completely different. And only to the debit card. And it is desirable not just to a debit card, but to a salary card, the holder of which is included in the bank’s salary program. That is, he regularly receives financial resources for his work. Previously, a loan overdraft was available only to legal entities and individual entrepreneurs.

Its essence is that when a firm periodically encounters situations of a small negative balance in a current account, the owner (s) of a firm can arrange for a service in a banking organization, in which going into a minus will be automatically compensated by borrowed funds.

For a bank, the main thing is that the activity of the company is stable, and the current account is constantly replenished with funds from profits. Then he will agree to provide certain amounts of money to the legal entity or individual entrepreneur, which will help to avoid a negative balance of the p / account due to the lack of working capital and additional expenses in the course of business activities. But now this loan overdraft is available to individuals. In Bank, you can connect similar financial functionality. The essence is the same. When the cardholder urgently needs money, but the “plastic” is empty, it can help out an overdraft. This is something like a microloan from a bank, but it does not count as such (and even more so a credit). The size of the overdraft, as well as the fact of its connection, is determined by the client’s solvency and trustworthiness. In order to be able to borrow in Bank, say, several thousand rubles, it is necessary:

  • have an active salary card of Bank;
  • have a stable income significantly higher than the subsistence minimum;
  • this income should come monthly on the “plastic”;
  • the client should not have any financial problems with the bank, including even some delay in payments / loans in the past.

Cons of the described service

Cons of the described service

If the cardholder does not meet all of these criteria, it is still realistic to receive an overdraft. But quite small (up to a thousand rubles). An active debit card is required anyway. It is necessary to think well before connecting such a service. There are several reasons for this:

  • write-off for overdraft – the bank charges interest for the provision of such microloans, and it is very tangible. With regular and large overdrafts, the card holder will overpay almost 2 times more than the amount taken. Write-off of cash for overdraft in Bank begins to be felt when the limit of such a microloan exceeds a thousand rubles;
  • The interest begins to “drip” immediately after using the overdraft limit – no delays, grace periods, etc .;
  • similar rules apply in all other banks, not only in Bank;
  • any delay in payment (if the money for some reason did not arrive on the card on time, and automatic debiting did not occur) is punishable by new percentages, but already by an order of magnitude higher;
  • to disconnect this service is often more problematic than to connect. At least in Bank (although in other institutions too). After all, it is profitable for banks to receive substantial interest from numerous small loans. We will have to write a new statement, in which in the column “overdraft” it will be necessary to indicate “0”, and, perhaps, to write repeatedly. Chat with more than one manager and spend more than one hour waiting.

A set of documents for connecting services

However, if an overdraft is sufficient for a person with a limit of 400-500 rubles, then there will be no special costs. Especially if a salary regularly arrives on the card, which will protect against possible delays. Payment will be automatic. Bank is instantly charged for connected overdraft. It is very convenient if the Mobile Bank service is also connected. Then all card transactions, including overdraft, will receive SMS notifications (number 900) on the holder’s phone. Mobile Bank can be connected at any Bank office or via the Internet in the Bank Online personal account. For this service, the “plastic” will also automatically withdraw 30-40 rubles a month. To activate a loan overdraft service, you must submit to the bank the following set of documents:

  • passport of a citizen of the Russian Federation;
  • the second document confirming the identity of the client (driver’s license, student ID, military ID, etc.);
  • completed application form (in the “overdraft” column indicate the desired limit);
  • certificate of income in the form of 2-NDFL (if a person is a member of the salary project of Bank and officially and regularly receives a salary on the “plastic” of this bank, then the certificate is not needed).

Borrow money for funeral

Of course it is an annoying time if you have to borrow money for funeral, it means that the deceased himself had not taken out insurance and that the corresponding invoice for the funeral itself must be paid. They are also large amounts that you get thrown around your ears, because a funeral, no matter how simple, is going well in the papers.

What amount should you take into account and how can you best take out a loan for this in the best way? You don’t have to decide very quickly, because it will probably take a few months before you get the invoice. Usually the organization that takes care of the funeral waits a month or two or three to send the bill, out of pity with the relatives. But even then this bill must be paid within the specified period.

Borrow money for funeral

We can be brief about what credit you can best take out to pay for the funeral. In fact, only the personal loan is eligible to handle this properly, all other loans that are available are used for other purposes and are therefore less suitable. You could possibly consider a revolving credit, but because the interest and the duration are variable, it could happen that you are tied to this credit for too long. But it is a choice that you have to make yourself.

With a simple funeral you must quickly take into account an amount of at least 5,000 euros. If you opt for several extras, such as following cars, laying out, being together afterwards with food and drinks, this amount can easily amount to 10,000 euros. It just depends on the kind of funeral that leaves you feeling good.

What should I arrange

Upon the death of a loved one you have to contact a funeral director yourself to ask if he wants to arrange the funeral, of course he or she accepts the assignment. You can then indicate yourself which services you want to use, you can organize them exactly according to your own choice.

There are, however, a number of things that you should have a good overview of. How many people come to the funeral, for example, is a component that immediately reduces costs, the more people, the higher the bill will be.

Funeral on installment

It remains of course an annoying side effect, you recently lost a loved one and you find out that no insurance has been taken out. You will then have to incur costs yourself in order to conclude this in a worthy manner. Annoying that you have to make debts for that, but when the facts are there, there is not much that can be done.

How do I know if the deceased has insurance?

This is something that not many people know, but there is a website where you can check whether a deceased person still has a policy somewhere that might pay out in the event of death. In the past you had to go to all insurance companies to find out if a policy was ever taken out, now you no longer have to. You go to the website of security where you can request this information from all companies in one go after entering the requested data.

Even if it is a very old policy, say 50 years ago, it will still be found. Please note, this application can only be made by the children of the deceased and this must also be demonstrated by digitally sending a copy of the death certificate and proof that you are indeed a child of the deceased: can are a birth certificate, extract from municipal basic administration, registration in marriage certificate, mention in the certificate of inheritance or mention in will.

Save Money Enough To Pay A Down Payment

Accessing the property has never been so difficult. Given that the eligibility rate has risen by 2% and the introduction of the new test of financial resistance, it is not surprising that those who earn the minimum wage believe that home ownership is impossible. However, the impossible can become reality with time and savings, depending on the province.

Homeownership rate

After all, in 2015, 25% of Canadians earned less than $ 15 an hour. According to the 2016 Census, Canada has a population of more than 35 million. That means almost 9 million Canadians earned less than $ 15 an hour. In addition, the homeownership rate in Canada was 67.8% according to the 2016 Census.

Minimum wage

As of June 1, 2018, the average national minimum wage in Canada was $ 12.09; the highest minimum wage is $ 14 per hour in Ontario, while the lowest minimum wage is $ 10.96 per hour in Saskatchewan.

Save money for a down payment

If we take a worker with a full-time job and work 37.5 hours a week, his weekly earnings based on the average national minimum wage would be $ 453.37. Annually, this would represent revenues of $ 23,575.50. Let’s look at some provincial capitals to determine the time needed to save money for a down payment, admitting that the worker is renting a one-room apartment and has to pay $ 575 for living and utilities.

* The average rent comes from Padmapper in June 2018 * Average cost of housing in June 2017
* Source deductions are not included in calculations * Down payment does not include required closing costs
* These calculations do not take into account mortgage eligibility, only the time required to save for the down payment