Finally, vacation! After working hard for 11 months during the year, we all want our much-desired rest. However, rest can end up becoming a nightmare for those who are full of debt.
For those who work under the CLT scheme, holidays also mean extra money. But it’s no use receiving this amount if you do not have your payments up to date. In order for you to travel and really relax on your vacation, you need to think about debt renegotiation .
What is debt renegotiation?
Debt renegotiation is one way of consolidating everything you owe into one debt. For example, let’s imagine that you owe two installments of your car’s financing, plus your credit card bill and a few more late bills.
All this is generating you an interest rate that only increases with the days that pass. Consolidating your debts, therefore, would put all these debts together into one, so you can better organize your financial situation.
As? With a personal loan. The idea is that you use the loan money to repay everything you owe and only have a debt that will give you a longer repayment term. But for this to really work and ensure peace of mind on your vacation, you need planning.
Why do my financial planning?
Already booked with your vacation? Great! But before they arrive, you need to do your planning so that you can travel quietly.
If you still do not do financial control, this is the time to start. Consolidate in a document (it can be a notebook, an Excel spreadsheet or even some mobile app) all your expenses and your income entries. Remember to write down everything you have on debt!
Are your tickets bigger than your exits? If so, you are on the right path. If not, see where you are spending a lot and can make cuts to relieve your pocket.
This will give you an idea of how much you will have to spare to put together for your vacation and what limit you will be able to pay on the loan installments when you renegotiate your debts.
What Care At The Time Of Applying For A Personal Loan?
But do not think that just enter “personal loan” on Google and choose the first option to do your credit renegotiation. Now that you know how much you need to pay off your debts and what the maximum amount you can pay in installments, it’s time to research the best conditions.
Nowadays, it is possible to count on personal loans online, which allow you to have money in your account in a short time without having to leave the house. You do a computer simulation of how much you need and you will see what the interest rate will be and how much the installments will cost.
If it’s okay for your pocket, you apply to the bank and wait for your approval. It will analyze your profile and give you an answer quickly. If it’s approved, the money will be in your account in a few hours.