Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
Even if you have a genuine need to borrow, do so with care.
Borrowing money from a lending or financing company carries with it certain rights and responsibilities. What are the things to remember before taking out a loan? Consider some of these questions and reminders.
Is it a need or want?
Am I borrowing to pay for something I need, or can I delay buying it later?
Is the company legitimate?
AM I engaging with a lending or financing company that is registered, licensed, and listed?
Do I have enough to pay for my debt?
Will I be able to pay for the loan on the date agreed upon, with the corresponding interest rate and other charges?
Here are some checklists before taking out a loan:
Remember, when you borrow money, you agree on a date by which you have to pay the money back. For more information, you can read my separate blog post: Important Financial Terms To Remember When Applying For A Loan
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.