5 principles for a successful loan.

Never encourage you to be in debt or borrow money, that's for sure, but obviously there are quite a few times when you lack a certain amount of money to do something like buy a house, send your children to study abroad, the family has a sudden illness, etc.. how to get a loan is not an easy thing, especially in difficult economic times.

Principle 1: The reason for borrowing money should be very clear !

Whether you're taking out a loan from a relative, a friend, a company, or a bank, the first rule you need to memorize is to be very clear about why you're borrowing, whether the lender asks you or not. Obviously serious loan reasons make it easier for you to get a yes answer than people will find some excuse to turn you down, usually loan reasons show that you have a plan to save money. Specific savings that only need a certain amount of money in a temporary period, such as buying a house with a small amount of money, for example, will be more acceptable, in contrast to loan reasons such as not having enough money to shop some luxuries like buying a branded wallet, new car, traveling, etc.. borrowing money because of a lack of debt that others have not yet paid, borrowing money because your husband plays gambling, because of betting, because of debt, etc, will be difficult to understand. Again, whether people ask you why or not, you should take the initiative to make it clear and tell the truth because if you lie, it will be easier for others to see, the more honest you are about the this loan, the easier it is for you to get approval.

Principle 2: Clearly state the repayment date and repayment plan !

In fact, even a relative will not want to lend you a loan if you do not know what date you can repay the loan, what is the repayment plan, besides the reason for the loan, your repayment plan. It is the way to convince others to believe, for example: you need to borrow about thirty million from relatives and friends to do something, the person who wants to lend you will be much more comfortable if you actively tell your salary. how much is it now, how much can you save each month to pay off your debt for example you plan to pay two million per month and pay within ten months fixed on the first day of the month etc.. Those details prove you You're not a borrower everywhere, you don't run away and have to pay after borrowing, on the contrary you need to be specific, you know how much money you owe and how you plan to repay it.

Principle 3: Keep your promises throughout the loan process!

You wonder why when you have a hard time getting a loan with a small amount and you can't find a nod of approval while there are people who borrow a sizable amount of money but it's very easy. The answer besides basic factors such as the reason for the loan, the repayment plan is also reputable, it will be difficult for anyone to lend you even a small amount of money if they have heard rumors like this before. like "oh my god! let that woman lend and then only listen to all promises for 10 years". Your reputation is very important during the loan process, you should try your best to keep your reputation, for example, when you promise to pay in a month, by all means try to do this. Whether you borrow from a bank or borrow from relatives and friends, this formula is correct. Your repayment history in the previous loan can greatly affect your decision to lend you another loan or not, there will be cases where you borrow but then the situation has many fluctuations, many arising Until you can't repay the loan as originally planned, many people, when they fall into this situation, borrow another place to repay the debt at the old place, so things become more and more serious when you lose your ability to pay. but the mother's interest gives the child interest, making the loan more and more tight and tight until there is no way out.

Principle 4: Don't let the mother's interest give birth to the child!

The principle for you is that when you take out a loan, there is always a clear repayment plan, if this option for some reason cannot be implemented, there are unforeseen problems arising, you must immediately choose urgent ways. withdraw though those methods may bring you losses in the meantime. For example, when you take out a loan to buy a car, then suddenly you become unemployed and can no longer pay the debt or wisely accept to sell the car to pay the debt, although you may lose a lot, but that damage brings In the end, do not try to borrow more external loans to pay for the original loan because it does not solve the problem but only makes you more and more in debt, the ability to repay the debt is getting further and further away, until the time is right. Even if you sell your car, you won't be able to pay off your debt.

Final rule: Only borrow when absolutely necessary !

This is the last rule, but it's actually the first and foremost rule in this borrowing process. As a money holder in your family, always remember that you need to limit borrowing as much as possible, no one can trust you if your loan history could not tell all for three days and three nights. After all, no one is comfortable to lend you a loan when they know that you are a little open to borrow, always like to borrow from a small amount to buy a dress or a bag, to a large amount like when you are sick, buy house, buy a car, etc..

Let yourself have a life without borrowing because it will make you always relaxed, disengaged, even if you are more deprived than others, in addition, the fact that you do not often borrow will help you when you really need it. As mentioned, borrowing should be considered a reluctant thing to do and only borrow when there is a really good reason.

It's interesting when you know that the person who can ask for a loan quickly and easily when needed is a person who rarely borrows, not a borrower who is so professional that everyone knows that you are coming to borrow money ask for a loan.

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