Today the financial market offers a series of possibilities in credit products with various characteristics, agreements, commissions, among others. According to the study “Traffic light of the economic expectations of Lima towards 2023”, carried out by Experian and Consulting Partners, one in three Lima residents would be interested in accessing a loan in the future, preferably through a formal financial institution.
In this sense, Sergio Rivera, commercial manager of Experian, offers three tips to assume a financial commitment in a responsible way:
1.- Acquire a financial obligation according to your abilities
A good idea is to analyze your debt capacity before assuming a financial commitment to avoid falling into over-indebtedness. If it is within your means, make additional payments to the total amount of your debt in order to pay off the loan more quickly.
2.- Use the “avalanche” method or liquidate your strongest financial commitment
Keep in mind that the largest loan you have is the one you should give priority to. It is advisable to make payments to the total amount of the outstanding obligation because that way, in the long term, it will be more bearable. Once this is covered, it is important to prioritize the second largest financial commitment, and so on.
To know your credit history, you can do it for free at https://www.misentinel.com.pe/home and thus make visible all your current financial commitments to start prioritizing according to the amount, urgency and nearest payment date .
3.- Be responsible with your assumed financial commitments
It is important to maintain control of our loans through payment reminders on time. Another option is to automate these disbursements, that is, schedule the automatic debit every month from a fixed account.
For this step, it is important to organize ourselves before acquiring the loan, plan how our payment schedule would be, if we acquire the credit and if we will be able to meet it within the established term.
Source: Larepublica
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