Borrowing to spend is a job that makes you quickly fall into debt piled up. Here are the risks of over-indebtedness you should know.
Young people tend to enjoy life quite early to satisfy their desires and interests. Therefore, borrowing for consumption is the tool to help them fulfill their own needs the fastest.
"Optimistic consumer" is becoming a trend among people these days. With the habit of spending first, paying later, without spending management skills, soon burdened with a debt that "sees to be impossible to pay." ". Below are the harms from borrowing to spend .
You don't have to be rich to spend as much as you like. Spend as much as you can, even "make 1 spend 10" has become the lifestyle of many people. State borrowing to spend conspicuous today is becoming a problem, especially for young people. This situation has caused many serious consequences and harms.
In today's modern life, people are following a lavish materialistic lifestyle. Especially the youngest people are students, students are setting themselves modern living standards, which leads to the consequences of using money to spend improperly.
With the monthly money provided by their parents, some young people use that money for shopping and see it as a way to reward themselves. Not knowing how to appreciate the value of money that their parents make, gradually forming a lifestyle of enjoyment and competition.
Along with that, on the market today, fashion items are increasingly diverse and many designs. Therefore, consumers are easily caught up, leading to urgent borrowing everywhere to shop extravagantly, without control, following fashion and trends.
In life, everyone has at least one loan. As borrowing became more frequent, many people fell into deep debt . Borrowing to spend makes you always obsessed with money. You may defy all ways to make money, thereby giving rise to bad habits and social evils, causing serious consequences for yourself, your family and the whole society.
It is the hedonistic lifestyle that is causing the debt to swell like a "time bomb". The "overstretched hand" will turn you into a genuine "debtor". Debts will gradually “smash” your income. Therefore, it is necessary to quickly come up with a way to overcome the debt to spend. Here are useful loan experiences that you can apply:
● It is necessary to clearly determine the source of income and financial ability to repay the debt.
● Consumer loans should only be used when there is a real need.
● Borrowing place and type of loan: Consider and choose a reputable financial company as well as a loan form that suits your borrowing needs.
● Interest rates and loan terms: You should choose low-interest lending locations because high interest rates will accumulate and make your monthly payment out of control.
● Read carefully the important terms and conditions of the contract and ask the consultant to clearly explain the above contents.
● Understand information about interest rates, monthly installments , payment methods, fees: penalty fees for late payment or early loan settlement.
● Avoid late payments: incur high penalty fees, and affect your credit history. With a good credit history, customers will easily be supported to continue borrowing at all credit institutions and enjoy preferential interest rates.
● Keep contracts, payment receipts, monitor personal credit statements regularly to understand credit status.
Quick loan with CashBerry website/app , is one of the best options for those who are in need of consumer money. Because at CashBerry, you will get a quick loan, just 30 minutes, you can receive money to your wallet.
* Reasons to borrow money quickly through CashBerry
Here are the reasons why you should choose CashBerry to borrow money.
● Fast online loan 1 - 10 million in 24H.
● Flexible term 7 - 30 days (according to customer needs).
● Interest rate 10.95 - 14.6%/year is the lowest in the market today.
● No mortgage, no proof of income.
● Borrow 100% online without meeting.
● The loan contract is transparent and specific, customers are informed of loan information before borrowing.
● Loan extension when it is difficult to repay.
● There are many preferential programs from time to time such as early payment will be reduced interest, loyal customers will be increased loan limit, ...
* Steps to borrow money online
CashBerry is always proud to be the unit that provides customers with online loan services with simple application procedures and fast disbursement time. To complete the loan process with CashBerry, customers only need to go through the following basic steps:
● Step 1: Download the CashBerry app or visit the cashberry.vn website on your smart mobile device and complete the profile with the necessary personal information.
● Step 2: After registration is complete, wait for loan approval for about 15 minutes. The appraiser will contact you to confirm the information and inform the loan approval amount.
● Step 3: If the application is approved, you will be disbursed to your bank account immediately.
Besides simple procedures, 100% online support, CashBerry also has a customer care team to help you 24/7. If you have any questions about the loan application process, you can contact the hotline 1900 63 83 85 or send a message to Fanpage CashBerry - Everyone's financial friend for answers.
Borrowing to spend is not bad, but you have to really consider, what is the purpose of the loan, is it really necessary or not. Borrowing money will give you comfortable spending money, solving work, but can also bring you risks if you borrow too much, lose control.
It is best to contact CashBerry for advice on finding the right loan for you. CashBerry - a reputable and quality financial company that will help you find an effective solution to your problem.