Discover surefire tips to get through the crisis Life as we knew it before March 2020 has changed dramatically. Almost every country in the world faces a severe pandemic due to the Coronavirus, a disease caused by exposure to COVID-19, a virus that causes respiratory infections. With the imminent collapse of the single healthcare system, our economy is also in danger. Many think of taking out a loan for a greater breath in this atypical time.

In February 2020, Across Lender Group released an unprecedented survey of almost 3,000 people from all over Brazil and attested that almost a third of Brazilians are interested in financing in the next six months. Of this total, 59% said they wanted to pay debts; 31% intend to make a dream come true and 10% would like to pay an extra expense.

If in a relatively normal scenario the numbers were these, in the context of a pandemic, the Brazilian’s financial situation may become even worse and the only way out may be to take out a personal loan.


Make financial education a habit

money loans

Growing up without knowing what financial education is no excuse to spend a lifetime ignoring that much of the effort we make to have healthy rules and finances, part of the knowledge we have acquired.

Study, understand how to incorporate better habits into your day to day and start putting everything in its place.


Set small goals and big goals

You will be able to change your habits better if you have clear goals.

The brain works best in these cases when we have a place to go. Set goals to achieve in the short, medium and long term.


Avoid the impulse when buying

Set small goals and big goals

A crisis is not the time to spend money for nothing.

Consider well everything you feel like buying, see if it fits your budget, if it is necessary, if you will be able to pay, if it will hinder any of your small, medium and long term goals.


Understand your budget

To take control of your finances you need to have a real sense of how much your monthly income is.

If you receive, pay the bills and go around spending without even knowing how much you still have in your account, you need to review your customs.

Do not be afraid to have an understanding of your budget, only this will make you control your income and be able to maintain the line in a time of crisis.

But, even with these tips you need a little credit boost, check out tips for not sinking when borrowing:


Search for the lowest interest rates

Understand your budget

In general, loans with the lowest interest rates are those in which the risk of default is small, which gives more security for financial institutions to lend without fear of default.

Payroll loans, for retirees and civil servants, which are discounted directly on the payroll; loan with guarantee of property, in which the owner of a house or apartment already paid puts it in guarantee in exchange for the money; and the vehicle-secured loan, which works the same as real estate, but places a car, motorcycle or truck as collateral, are those with the lowest rates.

At Good Lenders Credit you can analyze all these modalities and still compare with more than 30 financial institutions.


Exchange an expensive debt for a cheaper one

If you are going to take out a loan to pay off any financial pending issues, consider getting a high interest rate on some debt for a cheaper one on a loan that works best for you.

By doing this you remain in debt, after all, as the title of this tip suggests, you are making an exchange.

But it is a healthy exchange that will make your debt cheaper and payable.

Which can get complicated when high interest rates add up for months and years without payment.


Beware of scams when borrowing

Beware of scams when borrowing

Don’t fall for miraculous promises, the online loan can be secure, but you need to be aware of some details.

On the Good Lenders Credit platform, you can check security certificates and easily find information that the site is authorized to grant loans through banks and financial partners through the Cream Bank.

Do a more detailed search on the website that is offering the loan. Also search social networks, news, blogs, and Complain Here (complaints site).


Don’t forget to compare the Total Effective Cost of the loan

It’s not just interest rates that tell you whether a loan fits in your pocket or not, that’s just ONE of the fees you pay when you request money.

You need to check how much the Total Effective Cost (CET) of the operation is.

That’s because interest may be low, but adding all the other charges charged by the bank or finance to borrow money, such as taxes and insurance, can make your loan more expensive than you can afford.

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