About Installment Time, Savings and Loans – Installment Loans

The first tip starts here already: Remember that savings can be combined with any type of loan, without committing to anything.

 

Saving should always be

Saving should always be

For practical reasons, saving should be done at a fixed load so that not everything boils away. Then the scheme can quickly become a failure instead. The cost of this model is that you do not get as high interest on the savings as you pay on the loan. But with added security and flexibility, it is often worth it. If you do not pay monthly, you can minimize the cost of using money market funds as a savings account or the best high-interest bank accounts.

 

Understanding the payment period

payment period

You probably understand now that choosing the longest possible repayment period on the loan means that you have a higher interest expense overall. The longer the repayment period, the more money you borrow over a longer period of time. However, a series loan repaid over 10 years can provide about the same total expense as an annuity loan repaid over a few fewer years. This way you can juggle the various loan types until you find the one that suits your situation. In conclusion, the correct repayment profile is what suits your disposable income. It is better to choose a longer repayment period than to let it go unnecessarily over your lifestyle today. Especially if disposable income will go up later. Then there will be too much bias in the quality of life between the phases of life.

 

It is also possible to choose the right to pay interest

It is also possible to choose the right to pay interest

It is really the same as extending the repayment period of the loan and can be very easy to do in certain periods. Most people who buy a new home in the first few years will incur additional costs for new furniture and renovation. The repayment period in the first 3-5 years of the loan may then be fine. Thus, you have a slightly easier repayment situation than if the repayments had started to run immediately. Repayment can also be okay in crisis situations.

If your income declines for a period of time, for example, due to short-term unemployment, you should immediately ensure that the bank gives you the right to deduct the interest. That way you only pay interest on the loan amount at any time. Paying off the loan is savings. It is pointless to save if you do not have the opportunity. This way, you may be able to get through the squat and keep the accommodation.

Three ways to raise the initial installment of your own home – Installment Loans

Maria Teresa is looking for a new apartment and reviewing the options she found one that had everything she and her family needed. “It’s perfect for us,” he thought. http://hsalliance.org has examples

But there is something that discourages her and makes her think that she will have to live in a rented place forever: She knows that to apply for a mortgage loan, banks require her to have at least 20% of the price of the property, as a fee initial. How can she, a young woman who has just turned 30, be able to collect that fee in a reasonable time and in turn meet her monthly expenses?

For María Teresa and for all those who are facing the same dilemma, we present three ways in which they can cover the amount of their initial fee:

Classic Savings:

money cash

Maybe you set that goal for a few months and have not seen any results. This may be because your savings goal is very small. If your debts do not cover a significant amount of your salary, you could save up to 25% of it. Organize your budget and set a goal. If the problem is that you are very flexible, mentalize yourself and consider the amount you save as one more expense, so when the end of the month comes, nothing will stand between you and your savings.

To make the most of the amount you save, open an account at an entity that pays you the highest possible interest rate, to get all the options and request the one you want, you can use our savings comparator.

Mortgage Savings Account:

Mortgage Savings Account:

 

 

It is a modality offered by some banks to help you raise the initial installment of your home and demonstrate your ability to save before the banking institution, which will make it easier to obtain mortgage credit.

It consists of making uninterrupted deposits for a certain number of months. The amount to be deposited will be equal to the fee you will have to pay when you access the mortgage loan. In some banks, this option is only available for Mivivenda credit and if you stop depositing for a month, you lose the score you have earned . In addition, it does not allow withdrawals or transfers.
This option is ideal if you cannot support all your income with documents but want to prove that you can meet your monthly fees.

Installment deposit:

money cash with couples

 

 

If you have only a small amount saved, this option allows your money to grow at a faster rate than it would in a normal savings account and that there is no possibility of moving it.

By obtaining a fixed term deposit, you are depositing a certain amount of money and agreeing not to use it for the time specified in the contract. Remember, the higher the interest rate. If this is the option for you, you can use the fixed-term deposit comparator to see interest rates as well as interest earned after a reasonable period of time.

 

If you see that in a few months you will finish collecting your initial installment, you can access the mortgage loan comparator and choose the best financing option for your home, either with or without the Mivivienda credit. Information on interest rates, fees and terms on one page, as well as the possibility of requesting it from there.

María Teresa does not have to resign herself to living in a rented place all her life and neither do you! Use one of the options and realize the dream of your own home.

You may also be interested:

  • 10 basic questions for home buying
  • Why don’t you give me a loan?
  • Predictions for the real estate sector 2015

Credit and Works Council

Can an AZ lend money to employees? The answer is yes: the Works Councils, in addition to representing the staff of a company, also have a mission to help employees, which is not just discount tickets. An employee in difficulty may apply to his works council for a loan, under certain conditions.

The AZ can help employees under certain conditions.

The EC can help employees under certain conditions.

MarKet went to meet a chartered accountant, who tells us a little about this opportunity given to employees, and his professional experience on this subject.

Example of a loan almost requalified as a donation

We had been consulted during a loan of more than € 5,000 granted to a member of the works council. No collegiate decision had been taken, only the secretary of the AZ was aware. Following elections, new members became interested in the accounts, and realized that the loan was still not repaid. They had then informed the management. The latter did not want to get too wet, especially because two unions were opposed on the subject.

She let them choose the audit firm and asked that a report be drawn up on the accounts of the works council. The secretary had wanted to help an employee who seemed in difficulty, but he was rolled in the flour, since the employee was no longer part of the workforce of the company for a few months and the secretary then felt compelled, before disclosure of the facts, to repay part of the sums.

We had perceived all the goodwill of the secretary and, at the end of our audit, all the sums were repaid, certainly in large part by the secretary of the works council.

Needless to say, this situation has outlawed the union for the next election. As of this exercise, the works council decided to use a chartered accountant every year to validate the accounts of the works council. During this audit, we then proposed a good ten ways to improve the way accounting is done. All our recommendations have been put in place in two or three years.

This example shows us that, often, the lack of rigor in accounting behavior is more related to technical misunderstandings than the will to defraud.

This loan we just talked about almost turned into a gift!

MarKet’s review

EKonomia

The AZ may under certain conditions grant loans to employees of the company.

The works council can therefore grant loans and donations (relief) to employees of the company. However, it will be necessary to be particularly vigilant to the formalism (one file per employee, detail of the demand, rate of interest in case of loans, modalities of repayment, reasons of the difficulties in the event of donation) in order to avoid the questioning by administration, but also the responsibility of the members of the works council.

 

Money Found

A guy in counseling inquired about his selfhelp fund on behalf of his sister. Because your sister will give birth soon, and all financially conscious people know that in such cases, it is a mistake not to take advantage of the $ 150,000 tax refund available from the selfhelp fund.

(If you do not already have a selfhelp fund, read the articles on this. In short, if you have a childbirth, you can withdraw about $ 500,000 to $ 1 million from the selfhelp fund, which the state gives plus 20% tax credit minus checkout cost.)

I asked him the $ 30,000 question, why doesn’t he take advantage of his sister’s birth?

It is lawful to claim a beneficiary who may be your child, parent, spouse, partner or brother .

That is, for the sake of having your brother or child born, you can withdraw the same amount from your selfhelp fund by making it a beneficiary in your own fund.

 

Client can use the same amount of money from his own money as his sister

Client can use the same amount of money from his own money as his sister

All you have to do is show your sister’s child’s birth certificate and make sure she even made a contribution on her own account before she gave birth.

The law provides for a waiting period of 180 days for such use. Some cash registers protect this by giving you 180 days to file your claim. So, if the baby is not born, then it works. But it may not be the case with your checkout. Ask how much time you have to announce your birth.

Not all cash registers pay the same amount for childbirth, the standard deviation is high. Ask how much your cashier pays at this time.

 

Cash registers that prohibit the use of payouts

Cash registers that prohibit the use of payouts

For such an event in the cash register. Do this or open an account at another checkout. According to comments, there is a cashier that refuses to pay even though the law allows it. Check with your cashier and find another cashier if necessary.

It does not matter how much the fund deducts for running costs and entry costs. (That’s why I wrote $ 110K instead of $ 150K.) Compare the funds in this regard.

You can also use a selfhelp fund, a health fund and a voluntary pension fund with a $ 150,000 credit. If you’ve already spent the tax credit on the other two funds, it makes no sense to pay into a selfhelp fund. (If you received it in a cafeteria, it will only count if you paid from your own pocket.)

Do you pay PIT at all? If you get tax credit for a lot of kids or you are a cat entrepreneur, you may not even pay PIT.

 

If your brother or child has a child, it can be a financial pleasure for you

financial pleasure

Not big money, but you don’t have to do too much for it. (Yeah, and then you can request an extra payment just because your sibling / child has lost income, read more in the linked articles.)

Online financial education. 15 hours of material, take a look at it for free. True financial advice without sale of goods is only 35 thousand HUF. 20 million HUF life insurance for 4,990 HUF per month, regardless of age.

4 things you can do if you were denied a loan

credit loan

When you apply for a loan there are only two options: to be told yes or no. Undoubtedly, the rejection hurts, because if the loan is requested it is because you need it. But it is what banks usually do to protect themselves from clients they consider risky, that is, those to whom they would lend would be a loss because they are at great risk of not returning the money.

Refusal of a loan

Refusal of a loan

However, they are not always right, so the refusal of a loan is not a reason to sit idly by; On the contrary, the ideal is that you begin to reverse this event, so that you can get the credit you need.

To achieve this, here are four things you can do:

1. Find out the reason for the rejection 

credit loan

Financial institutions are obliged to inform you why they are rejecting the loan and this is the first step in order to change the situation. They must specify whether it is to doubt your ability to pay or if the matter is not being able to support your income.

2. Ask what the amount would be financed 

credit loan

In addition, you can talk with the advisor about the amount they would agree to provide and so the advisor will tell you what is the maximum amount that the financial entity could give you. It will be up to you to evaluate whether or not you request that amount.

3. Choose another type of credit 

credit loan

Another point to consider is that some credits have more requirements than others, so their evaluation is stricter. In the case of free investment credits, the requirements are lower, so they are more likely to approve it.

4. Try an entity with lighter requirements 

credit loan

Although entities have similar conditions, some are more flexible than others. Once you exhaust all possibilities with one, you can use the second option. For that, the ideal is to compare the alternatives and keep in mind the three best options. You can make that comparison using the Tarzan website.

Moving credit and help with moving

To cope with the cost of a move, there are several financing options, depending on the reason for the move. For professional removals, you can use Mobilis-Go or Polsa Worsa. For family reasons, CAF offers its help. For others, there is the option of credit or reselling his furniture.

Relocations are often a difficult step in life.

Relocations are often a difficult step in life.

Whether for family reasons, with the arrival of baby, for professional reasons, just a desire to change air or more sadly after a divorce, the moves always involve significant expenses.

The move is always a delicate operation, to prepare with care. We can often get help from family and friends, but for some items, it is better to let the professional movers , who will have the experience, the time, the truck and the packing material. In short, it’s their job, not to mention the insurance they have in case of breakage. But it’s expensive. How to pay them, when we already have a new rent or mortgage to pay and expenses related to the change of address among others?

It takes, to be entitled to the premium move:

  • move between the first day of the calendar month following the third month of pregnancy and the last day of the calendar month preceding the last two years of the last child.
  • You are entitled to an allowance for your new home (Apl or Alf).

The amount of the premium paid by the Caf is equal to the expenses actually incurred for the move, up to a limit of 978.82 euros for 3 dependent children, 1060.39 euros for 4 children and 81.57 euros per child in addition.

It is necessary, of course, to have the right, keep all the documentation of expenses related to the move, such as the rental of the van if you made the move yourself or the invoice of the professional mover.

The MSA (Social Security Agricultural) also offers a moving bonus, similar in all respects to the help of CAF.

Employment Center: mobility aids

If you are unemployed, and no longer receive compensation from the employment center, or if you receive AER (Return to Employment Assistance Allowance) or less, you can benefit from help to go to an interview. hiring or to start a new job. This requires that the job be more than 60 km return from his current home or more than two hours of transportation back and forth. It can help with travel, meals and accommodation. To find out more, you have to talk to his Polsa Worsa advisor.

Moving tax credit

We will all remember the disastrous example of the tax credit move , which was so flowing ink at the time. This tax credit allowed those who relocated for professional reasons to obtain a tax credit of 1500 euros, which was very nice. But there were many closures to this tax credit, which had not been properly completed. As a result, 80% of those who had benefited from this tax credit received a letter stating that they had to repay the money they had received “unfairly” because they did not meet the criteria.

From now on, these are expenses deductible to the real wages and salaries, and only if this move was for professional reasons.

MarKet’s review

MarKet

It is not necessarily worth paying a fortune to move if our furniture is of little value.

A move is an expense of money often substantial. Little known, however, the many moving aids are there to simplify the mobility of people looking for work, or who have to change housing when the family is growing.

Some aids are even without means test.

The mobility aids for professional reasons are to be sought on the side of Action Logement and the Mobilis-Go in priority, as well as the departmental council and the FSL. Assistance for moving for family reasons should be requested from the CAF and CAS of his municipality.

Finally, there is always the possibility of making a loan, but always after having carefully studied if the furniture that one wants to move is really worth the cost compared to the costs of a move.

 

Credit and driver’s license: how to pay in installments

 

Installment payment of Driver’s License

Installment payment of Driver

Faced with the sometimes absolute need to obtain a driving license to work, there is help to be able to finance it, whether by local authorities. Credit is also a possibility, starting with the payment facilities of driving schools.

There are financial aids to pass his license.

Summary

  1. How to pay for a driver’s license?
  2. Payment in several times of the driving school
  3. Helps for driving license
  4. A BEP to learn to drive?
  5. Price and license fee

Driving license is a right, obtained after passing two exams. A review of the Highway Code, and a driving test. The exams are free (public service), but to pass these exams, it must be prepared. This is where the driving school comes in, which, with its instructors, allows everyone to learn the rules of the road and to drive. But where schooling is free in France, the driving school is not, they are private schools, and have significant costs: we must pay the instructors, but also the apprenticeship cars, which must be renewed very frequently.

Dedicated page of the employment center on the driving license

RSA Driving License: Driving License Aids

The beneficiaries of the RSA (former RMI), there is a special driving license, which is funded under the APRE (Personalized Return to Work). The attribution modalities can be identical to the other unemployed. There are still microcredits for RSA beneficiaries, who can play in improving the financial situation of the job seeker at RSA.

All about RSA credit

Allowed for one euro per day

Allowed for one euro per day

For those who can not benefit from the help of the Employment Center, there is the possibility to make a credit. The state is proposing a zero-interest loan, named “one euro per day”, for young people between the ages of 16 and 25. Many banks are partners of the device, and offer this type of credit. It is the state that bears the interest: the banks thus earn money by lending to future young drivers. There are no fees.

The objectives of the one euro a day license are to facilitate access to driving licenses, and to continue to improve the quality of training. To do this, driving schools are committed to a quality approach. To be able to benefit from the license to one euro per day, it is thus necessary that the driving school is partner of the State.

The “one euro per day permit” allows you to obtain a ” driving license credit “, whether it is the car category B (light vehicles) or the motorcycle license, category A (motorcycle of more than 125 cm3). It can only be used once, for a first registration at a driving school.

There is no ceiling of resources to benefit from it, but the bank must accept the file of the applicant of the loan: if the borrower does not present any guarantee when to a possible refund, the bank can refuse to lend money even helped by the state.

How to benefit from the license for one euro per day

How to benefit from the license for one euro per day

First of all, you need a quotation from a driving school partner of the “one euro a day license”. The school will estimate the number of driving hours required and will quote. Then you just have to go to the bank, its financial institution. There are three possibilities to qualify for the loan, all aimed at securing the bank, to ensure that the applicant can repay his loan:

  • Or submit a proof of income, with sufficient income to repay 30 euros per month.
  • Either submit a bond
  • Either make a co-loan (article eKonomia) with the parents of the applicant.

If the loan applicant is a minor (training in accompanied driving), the parents borrow on behalf of their child.

For young people who can not provide parental security, there is a public charge of the loan guarantee, if the young person is enrolled in a training or access to employment.

Once enrolled at the school adhering to the “one euro per day license”, the candidate is assured of being in a school that has signed a quality charter. The candidate also commits to be diligent and apply, and to finish the training. To find out about the partner schools of the device: on the road safety site or on the website of the National Association for the Promotion of Road Education, ANPER.

The license for one euro a day is a license exactly like the others, of course. Only the payment method of the driving school changes, easier for the candidate, who can spread the expense of obtaining a driver’s license.

What happens if the candidate misses the test?

What happens if the candidate misses the test?

The extra cost going beyond the 1200 euros originally planned will be paid by the candidate. Financial institutions can also finance further training, if they wish.

The candidate agrees to finish the training, but there are valid reasons to stop it. Health problems, a move allow the young person to recover the hours of driving “not consumed”. If he has no valid reason to stop the training, he will have to pay a penalty of up to 10% of the unused amount. If for example he has not consumed 400 euros of driving course, he can pay up to 40 euros to stop training.

To continue the training later, the young person will have to go to another driving school, and will not be able to benefit from the license to one euro per day.

Refund of driving license at one euro per day

Refund of driving license at one euro per day

The refund is monthly, 30 euros per month. This is where the expression “one euro per day” comes from. Interest is borne by the State, it is a zero interest loan. The repayment begins in the month following the availability of funds.

The date of obtaining the permit is not linked to the end of the refund. The end of the repayment is agreed in advance with the financial institution, depending on the amount borrowed. The refund can go from 20 to 40 months. The maximum limit of this loan rate zero set by the state is 1200 euros, but we are of course not obliged to take courses at 1200 euros. We saw in the first part of this article that it was better, however, to engage in a quality education, I can not recommend too much to opt for the package to 1200 euros, pledge of a greater possibility of success in the driving test.

It is not possible to have a loan amount higher than the quote of the school presented to the banker. No need to apply for a loan of 1200 euros if your quote is only 900.

Then there is of course the possibility of having a personal contribution to borrow less money, or to make an early repayment so as not to continue to pay a credit. Here, it must be understood that it is a zero rate loan: it is clearly better not to use personal contribution or repay early! Indeed, the money you have, better put on a savings account, it pays, the zero rate loan cost absolutely nothing.

Aid from local authorities

Aid from local authorities

Municipalities, regional councils, can promote access to obtaining a driving license. Each community has its own mechanism, and its own conditions, it is necessary for this to be informed at the town hall of his place of residence. However, one device comes back more often than the others and is quite common in France: the driving license grant.

The scholarship is for young people aged 18 to 25 who do not have sufficient personal or family resources to finance their training to obtain a driving license. The principle is simple: in exchange for an activity of collective interest, from 40 to 50 hours, the young person is financed part of the cost of his training. The activity is usually done in a humanitarian association.

The scholarship to the license thus has a double advantage: to allow the young person to integrate socially, by helping people in difficulty, and help him obtain the driving license, essential condition in many regions of France to have a social life, a work.

Another undeniable advantage is that the “one euro per day” and “driving license grant” schemes can be combined.

Driver’s license for temporary workers

Temporary workers in temporary employment may have their driving license partly financed by the Temporary Labor Social Action Fund. This comes under the ” € 1 per day license “, with an aid of € 500. To benefit from it, one must be on temporary assignment, and be able to justify 450 hours of work during the year.

More information: interim credit

Driver’s license for the disabled

The AGEFIPH (Association for the Management of Funds for the Professional Integration of Disabled People) supports the mobility of people with disabilities, helping them pass the driving license, if it is necessary to obtain or keep a job.

Funding can range from € 800 to € 1300 for a converted permit.

page dedicated to the code of the road.

If you are one of the people who already have a solid experience of the road, you can take the first price of driving schools, with only 20 hours of driving. If, on the other hand, we are among those who have never touched a wheel, the wisest course would be to take a quality package, with 30 hours of driving lessons right away. Given the current statistics, it is better to pay a little more at the beginning and have 30 hours of class to pass only once the exam, that to pay not expensive 20 hours, then pay full rate overtime. In addition, the presentation fees for exams can go up to 200 euros!