Loans “to the first” for current expenses. How to use them?

The ever-increasing amounts of loans available do not surprise anyone anymore, even if the lender only provides payday loans. Quite the opposite – we often head towards the company that can offer the highest amount. Meanwhile, payday loans as a financial product were created precisely to help people in case of sudden expenses, paying bills when they run out of their own funds, or simply to survive “until the first” or “to deposit”. These are usually small amounts, but you also have to borrow wisely. How?

Free payday loan – where will we use it?

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Borrowing small amounts to the first one is much easier for the borrower. He doesn’t have to limit himself to just a few lenders to finally find the one who offers the amount to meet the needs. Small amounts (let’s assume that it is up to 1000 zlotys) are present in virtually every lender and even in a free payday loan. So we have a choice of at least a dozen loan companies who borrow small money for free. The services of “instant payers”, who offer free loans, can be used even many times, of course, each time by contacting another loan company.

Wait a minute – what are the costs of such loans?

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Is there any point in paying attention to the low cost of loans, if we have several free payday loans to choose from? After all, even if payment delays have happened several times, we could successfully use free borrowing throughout the year. However, it is worth paying attention to it, because it can always happen that we fail to pay back the loans on time. Even one day delay, although it will allow us to sleep peacefully and not worry about the potential consequences of debt collection and bailiffs, will make the right to write off the cost of the loan no longer apply, and we will have to pay regular costs.

Small loan amounts – low costs?

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This belief has already caught the mind of borrowers. The simple belief that costs increase in proportion to the amount of money did not come from nowhere, because this is usually the practice of lenders. Companies such as Vivus or Filarum have a rather constant cost converter and regardless of the amount borrowed, the costs will be a fixed percentage determined from the loan amount. However, this will not always be the case.

Borrowers must remember that the percentage of costs will also change the repayment period – the longer it is, the higher the costs will be. In addition, some (rather small) lenders calculate lower costs for higher loan amounts than vice versa, which is to encourage you to apply for higher amounts. For this reason, it is not worth suggesting representative examples of costs, but using loan calculators or a loan comparison website that collects many offers in one place. Remember to compare loan baskets with the same parameters. The total costs shown in the comparison tool will help us choose the most advantageous option.