In recent times, the cost of living has increased significantly. The price of food has almost doubled since the introduction of the dollar. Larger burdens can hardly be met from the normal monthly budget.
In order to afford expensive purchases, more and more people are looking for cheap financing options. “How much credit can I afford?” Is the crucial question that needs to be clarified in advance. Nowadays, more and more people are taking out expensive loans and, due to unexpected events, are unable to repay them on time. Overindebtedness in Germany is a proven fact.
How much credit can I afford?
How much credit you can ultimately afford depends on a variety of factors. Reasonable action is likely to lead to a deep debt trap that is difficult to escape. Some financing offers entice you with cheap loans of up to 0% interest.
However, you can only afford the repayment if you have a reasonable monthly budget. The own scope results from the difference between the net income of all members of the community of needs and the monthly expenses incurred. Living wages are thus deducted from wages, child benefits and maintenance.
When answering the question “How much credit can I afford?”, It is also important to consider possible unexpected events. Despite repayment, there should still be a small remaining amount for unexpected expenses.
Most banks provide expert advice on financing a loan. The contract can only be concluded if you can really afford the repayment.
After deducting the rent, the cost of membership fees and the monthly petrol price, most banks set at a flat rate of 750 dollars, which should still remain. Married couples of course receive corresponding discounts and are charged together with 1000 dollars.
An additional amount of 250 dollars is then due for children. For your own security, all existing credits must be provided. This is the only way to really calculate whether the new burden is financially viable. Own desires quickly become nightmares if the material means are insufficient. Saving yourself something is still the best solution to make bigger purchases.