Bank advises moderation in consumption and caution before loans to face the “January slope”
- The Murcia Association of Consumers and Users has developed a series of recommendations to encourage savings in order to help consumers and users to face the dreaded “January slope” as, for example, ask for moderation in consumption and caution before the loans, according to sources of this organization in a statement.
MURCIA, 8 (EUROPE PRESS)
The Murcia Association of Consumers and Users (Bank) has developed a series of recommendations to encourage savings in order to help consumers and users to face the dreaded “January slope” as, for example, ask for moderation in consumption and caution before the loans, according to sources of this organization in a statement.
In this sense, Bank has pointed out that it is very important that families “learn to value the need to moderate consumption, as well as being cautious before the mirage of small claims and high interest loans, because although they represent A short-term solution to meet specific needs or wishes can become a problem for many families that already have high levels of debt. ”
In the first place, Bank advises to reduce its costs to the maximum since, to avoid surprises, “it is preferable to adjust the expenses to their income level and, as far as possible, create a monetary cushion”.
Secondly, it is advisable to take into account that the difference between income and monthly expenses “is the money that is available to assume new debts, installment payments and card purchases, among others”. The debts, above that amount, “will cause a prior situation of indebtedness”, as the consumer organization warns.
In third place, Bank urges to rationalize the fixed expenses since “it is also very important to learn to save in the purchase of food, avoiding, for example, the purchase of precooked products, normally more expensive, thus enhancing the traditional cuisine” .
As far as possible, Bank urges to pay for purchases made in cash, avoiding the excessive use of credit cards, since the unlimited use of these “can generate a compulsive and irrational consumption in the consumer”.
Regarding the use of the credit card, Bank considers it advisable to “value how many you have and reduce the amount to save money, as well as annual maintenance fees”. In the case of the family unit, it is advisable that its members “not operate with more than two bank accounts or financial entities, as well as take into account the costs of maintaining them”.
Before hiring a loan, Bank points out that the conditions of the loan, such as “interests, terms or clauses” must be known and carefully evaluated, since “it is important to read, before signing, the fine print”.
If a consumer loan is to be purchased,Bank has indicated that “it has to be previously evaluated to what extent the fixed expenses increase and the true need for the product or service to be acquired, as well as studying the possibility of modifying the interest rates through other channels, in order to save interest and monthly fee “.
Asimsimo, advises “to pay special attention to the so-called fast credits or money ‘express’, since” this type of credits charge high fees and interest, so they end up being much more expensive than consumer loans. “