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The cash flow statement is one of the most important concepts when it comes to accounting for a company and is usually also known as the ‘ cash flow statement ‘ or the Anglo-Saxon word cashflow . Understanding it and having it always under control will be one of the keys for any business, however small, to be really successful in terms of benefits and sustainability. In this article we will explain its fundamental aspects, since it is a very complex concept, especially when it is calculated in the accounting of large companies.

In general, the cash or cash flow corresponds to the money existing in the company’s treasury, to the money available during a period of time for any type of expense. It has to do directly with liquidity and is a very important indicator to know the real health status of a business. A poor cashflow is synonymous with a company in distress, although its macroeconomic accounts are in line.

To understand the essence of the cash flow or cashflow statement, we must have the following formula clear:

Cash flow statement = benefits + amortizations + provisions .

It is true that this formula is very basic because other factors that influence the cash flow statement, such as the accrual rule and more accurate before and after taxes, are not taken into account. But in any case, it can be a valid equation for personal economy, for self-employed or small businesses.

The statement of cash flow and financing

Although we will not go into much detail due to the space limitations of the article, it can be affirmed that the cash flow statement has a close relationship with the financing . In fact, one of the cash flow classes, which is an important part of determining the company’s overall cash flow , is the cash flow from financing activities (FEAF), which indicates the cash available taking into account the account the economic resources coming from loans, the payments made to said credit entities as credit amortization, the payments to shareholders for distribution of dividends, etc.

This relationship between cashflow and financing is a demonstration that financing should not only be a punctual resource for companies, but should be an instrument of habitual use, always within the limits allowed by accounting, as it helps to that the cash flow statement is kept in values ​​that guarantee the sustainability of the company.

The idea that should remain in the mind of every entrepreneur and professional is that a correct state of cash flow is essential to be able to meet the business spending objectives. There is no point in accounting that reflects very positive economic results if you do not have the resources to pay payroll for employees, services carried out by suppliers or income to Social Security or Treasury, among other aspects.

Solutions to problems in the cash flow

If the cash flow statement is not the most appropriate at a certain moment and a payment can not be made, the most important thing is not to panic. With due control from the accounting of the company and on the basis of optimistic but realistic forecasts, you can resort to other solutions. One of them is to request a microcredit from Credy.es , the amount of which is not excessively high (up to € 750), which does not represent a large financial transaction and can be a good tool for a specific payment (an invoice from light, an unforeseen expense related to the Treasury, etc.).

However, it is very important to carry out a cold analysis of the situation: Why is the cash flow of my company not currently adequate? Is it due to a specific problem, slight and totally remedied in a short time? Or is it a structural problem and these treasury gaps are the general tone? If it is rather this second, your company has a problem: regardless of whether the business is apparently profitable, the truth is that it is not sustainable because it is not able to guarantee a sufficient cash flow to have resources to do against payments.

For all this, we recommend that you surround yourself with good accounting professionals, who can not only perform an audit of your accounts to identify possible errors, but also have a detailed control of your cash movements, calculating your status with a weighted formula of cash flow. And it resorts to financing, such as lines of credit or mini-loans online , as long as they adjust to the economic capacity of your business.

Advertising spots of banks are shouting that the next loan, loan will open the gates of a new life for us. Another offer convinces us that despite many debts, we are able to live prosperously and it is necessary to consolidate loans. What is it and how to consolidate loans? Further illustration at http://opflsoft.net

• What is under the concept of loan consolidation?
• What to do to consolidate loans?
• Which documents are needed to consolidate loans?
• When is not it worth consolidating loans?

What is under the concept of loan consolidation?

When the amount of the monthly installments, liabilities, it becomes more than our abilities, we can reach for a financial product, which will create the opportunity to combine all debts into one. The consolidation loan binds the existing liabilities into one, allows us to protect us from the debt spiral and regain financial liquidity. The Bank offers the acquisition of the value of previous loans and advances, proposes a new interest rate and determines the installment, which is usually lower than the sum of the previous ones.The joint interest rate on consolidated debts depends on the interest we pay on the loans taken out, the conditions are always calculated separately for each situation. The lowest interest rate can usually be obtained by consolidating long-term liabilities, high ratios refer to expensive, short-term debts, such as a cash loan. Consolidation is based on a lower monthly installment, which is why the repayment period is always longer.

What to do to consolidate loans?

The process of applying for a consolidation loan is the same as for other loans, before making a decision it is worth using an online credit comparison website. An easy-to-use tool will allow you to view the offers of many institutions, will allow you to choose one that fits our financial capabilities.

Which documents are needed to consolidate loans?

When we decide to merge debts, the bank always requires submission of a set of documents that allow the consolidation procedure to start. In practice, the banking offer, in this respect, includes a cash or mortgage consolidation loan.In the first case, we must complete fewer formalities, the bank requires two IDs, a certificate of the source and the amount of income obtained, documents stating the possession and repayment of previous debts. Also important is the personal account statement with the history of transactions from the last few months.When applying for a mortgage consolidation loan, we must additionally present a document constituting the basis for the acquisition of the real estate on which the pledge will be established. You will also need a copy from the land and mortgage register, its valuation and confirmation of the mortgage entry.

When is not it worth consolidating loans?

You have to remember that combining debts into one is not an option for everyone, always consider and calculate which option is more profitable for us. A consolidation loan is associated with higher costs, no matter how good the advertising slogans sound, we will always have to pay more than if each of the liabilities were repaid separately.

Certainly it is not a product designed for people, who have a problem with solvency and timely payment of debts. It is a long-term commitment that requires sound management of money.

The students, especially the university students, are one of the great victims of the economic crisis. In recent years, virtually all indicators of fees and scholarships in higher education have worsened. But to solve the new problems, new solutions have also emerged, such as online mini-loans from companies such as Credy.es , which can be used as university loans . In this article we tell you some information about the current situation and what are the main funding aids in this level.

Figures that reflect an increasingly hard picture for students

Without wishing to be too exhaustive and knowing that each autonomous community has its own particularities, here we show some unflattering information about fees and scholarships in university education. For example, the increase in prices that has occurred in recent years: between 7% and 125% since 2009, according to a study by the Education Department of CCOO.
The reduction of the budget in scholarships is also symptomatic: although from the Central Government and from certain autonomous communities it has been assured that the number of scholarships granted has increased, the certain thing is that the average amount of the scholarships has diminished 21%, according to data from the Ministry of Education, which means an average of € 674 less for each scholar.
And finally, two data that have to do with delinquency . On the one hand, student delinquency, which has grown alarmingly: in 2014, a 10% increase in the number of students who could not pay their tuition in Catalonia and, therefore, could not continue their studies, according to data collected for El Periódico de Catalunya. On the other hand, the delay in the granting of scholarships remains a problem, since many students must wait several months to receive the money. In some cases, that wait is extended throughout the course.

Solutions: subdivisions, university loans and special aids

Faced with this harsh situation, there are several possible solutions. One of them is the one offered by the universities themselves: the fractionation of tuition payments . Each university has its own rules and its own tables, although it is normal to be able to pay the total amount in two or three parts, one for each quarter of the academic year.
However, at other times the need arises immediately even for the payment of any of these fractions. In that case, online loans   like those of Credy.es serve as university loans , which the student receives while collecting the amount of the scholarship from the Ministry of Education, the Autonomous Community or the corresponding institution. According to a report from the European Commission, the average amount of university tuition in Spain was € 1,257 for the 2013-2014 academic year, while the maximum amount to be received with a Credy mini-loan is € 750, which is why It could cover a good part of the enrollment or the totality of some of the fractions.

University loans, also for unforeseen situations

The university students are not safe from unforeseen events either. In fact, in the process of awarding scholarships, this situation is considered with the name of ” supervening situation “: those relevant circumstances that arise after having submitted the scholarship application and that modify (downward) your personal situation as an applicant a fellow. And as such, universities usually have economic items planned to deal with these cases.
The problem, as in the case of scholarships, is that their amount has also decreased as a result of the reduction of the budget of the universities. And in addition, requesting this type of aid also involves a bureaucratic process that can be long, even if the situation requires real urgency.
Faced with this, a possible solution is also that of Credy’s university loans: online microcredits that are received at the moment, in a matter of minutes in many cases, and that can be used to ‘keep on pulling’ while the aid arrives due to unexpected situations. In addition, the great advantage of these credits is not only the rapidity in receiving the money, but also the flexibility of the requirements to access them: be of legal age and have regular income, which does not necessarily have to come from a payroll . In this sense, scholarships, family pensions, unemployment benefits or other income may be sufficient in the processing.
The objective of any of these aids, whether state or private, is probably to avoid the most painful of all: the students who, having passed their entrance exams with a sufficient grade, had to leave the course in the middle of the year because they could not afford to pay the tuition. In Catalonia, according to the same data provided by El Periódico, this figure amounted to more than 1,700 students in 2014. Credy.es does its bit to stop this situation from happening.

To acquire a home, most Spaniards must get into debt. It is a harsh reality that is transmitted from generation to generation and from which it is difficult to escape. Buying a house is a dream for anyone, but it is also the source of many problems. At the time of sitting down to throw numbers, the big question arises: what is the maximum mortgage according to salary offered by banks?
At Credy we know this well from our experience with urgent loans . Therefore, the salary and / or income that we have will be an essential factor at the time that the banking entities grant us a mortgage loan. Throughout this article you will find all the keys so you know what mortgage you can get depending on what you earn.

Thinking about asking for a mortgage? We tell you what is the maximum amount you can ask for with your salary.

Rate what mortgage you can afford

Before applying for a mortgage loan you must have some clear concepts. The first thing is that you know what your debt capacity is, that is, what percentage of your salary can be used to pay the debts, in this case, of the mortgage. Experts recommend not dedicating more than 35% of our monthly income to face a fast loan of these characteristics. This means that the person must have at least 65% of their salary each month for their basic needs such as feeding, dressing and even saving.
In general, banks do not approve mortgages whose monthly installments represent more than 35% of the applicant’s monthly income. Remember the importance of thinking long term, since the relationship with the financial institution can last for decades because of the mortgage so it is advisable to inquire about the lack , the applicable differential and other concepts that we have already discussed in the blog.

How to calculate the mortgage according to your salary

In addition to the aforementioned 35%, a second aspect should be considered in this area: the fact that, in recent years, banks do not usually grant more than 80% of the value of the home . Usually, the applicant must have saved or have the ability to dispose of the remaining 20% ​​to acquire the home of interest. To this 20% it will be necessary to add an additional 10% that it is also convenient to have saved to face the management expenses that are derived from the sale of the house.
Knowing all this, you can easily find out which loan you can access thanks to the simulator of a mortgage according to the salary . We are going to see some of the most frequent assumptions assuming that you are going to pay the house in 30 years with an Euribor interest (0.163%) + 1.25%. Do not forget that the Bank of Spain advises to calculate the mortgage according to your salary also anticipating the possible fluctuations of the market.

If you charge 1,000 euros

In the event that you are a mileurista you have the possibility of buying a house of up to 125,000 euros . Thus, you would have a monthly fee of 340.96 euros (which does not exceed the 35% limit on total monthly income) and the maximum mortgage according to your salary would be 100,000 euros, which represents 80% of the total value of the House. Therefore, you must have a total of 43,750 euros, which corresponds to the sum of 20% of the value of the remaining house and the derived expenses.

If you charge 1,500 euros

With a salary of 1,500 euros you can buy a home of 188,000 euros and the bank can grant you up to 150,000 euros (80% of the total). In this case, you would have a monthly fee of 511.44 euros. You will need to have 66,200 euros to cover 20% of the remaining cost and 15% of derived management expenses.

If you charge 2,000 euros

If you have a monthly income of 2,000 euros, you have the possibility of acquiring a house that costs a maximum of 250,000 euros. In line with the granting of the mortgage loan of up to 80%, you will get 200,000 euros. The monthly fee that you will have to pay as a mortgage would be 681.92 euros. In addition, you must have 87,500 euros of savings to pay the remaining 20% ​​and 15% of expenses derived.

If you charge 2,500 euros

In the case that you pay 2,500 euros per month, you can buy a house that costs 310,000 euros. In this case, the bank could grant you a mortgage according to the salary of 250,000 euros (80%) and which is linked to a monthly payment of 852.40 euros. Of course, you will need to have savings of 106,500 euros (the sum of the remaining 20% ​​of the value of the home and 15% of derived management expenses).

If you charge 3,000 euros

If you have a payroll of 3,000 euros, you can buy a house for up to 375,000 euros. The bank will grant you 80% of the home, that is, 300,000 euros, which means that your monthly fee will be 1,022.88 euros to cover the payment of the mortgage loan. Also, you must have saved 131,250 euros to pay the remaining 20% ​​of the value of the home and 15% of the management costs that arise from the process.

Conclusions and recommendations on the mortgage according to salary

In view of the above figures, we can draw some conclusions on the granting of a maximum mortgage according to salary.
– People who enter less than 2,000 euros per month, can access a home that costs less than 200,000 euros. For their part, those who charge less than 3,000 euros can afford to buy a house of around 300,000 euros.
– A longer payment term will reduce the monthly fee , although it will also increase interest. On occasion, extending the duration of the mortgage loan too much could mean paying between 50,000 and 100,000 euros more. For example, a mortgage of 150,000 euros put at 20 years at 3% interest, would represent a total cost of almost 200,000 euros because of the interest derived. The same mortgage at 40 years would increase to more than 255,000 euros. The idea is, then, to find the balance between a quota that allows us to live in comfort and a comfortable period that does not suppose excessive interests.
– Knowing what the maximum mortgage is based on the salary that the bank can give us, will allow us to know which is the most expensive home to which we can access. Of course, we must bear in mind that, in most cases, we must have 20% of the value of the house saved.
– Consider the Euribor, especially in mortgage loans that are longer than 30 years. It is a non-stable index and could undergo changes (both upwards and downwards) in the course of this time. Thus, the monthly fee could increase by hundreds of euros if the Euribor rose too much. Anticipate all the scenarios we mentioned in Credy.es.

The differences between online and traditional personal loans (those granted by banks and credit institutions) are numerous and of great importance. In this article we present a comparison of personal loans in relation to such fundamental aspects as quantity and term, interests, documentation, processing and customer profile. 

How to apply

The first big difference between these two types of personal loans is how to apply and process yourself. What defines online loans is, precisely, that they can be processed online , while traditional personal loans are requested in person in most cases, even though the bank has an Online Banking service . 
In this sense, the balance is already leaning towards online loans for its great advantages: it can be done from home, from work, from the street with a smartphone … In addition, there is no time limit in these, while in classic credits you have to respect the opening hours of the bank office. For this reason, online credits are also called Credits 24 hours , since they are always open.

Amount and term of return

Another big difference between both forms of personal financing is the amount of money and the term. While in traditional credits the figures are very high, even higher than € 10,000, online credits handle more accessible figures . As regards the repayment term, banks usually organize a repayment schedule with numerous monthly payments, while in online loans that refund is made at one time and without delaying the process too much .
The conditions that Credy.es gives to choose in their quick mini-credits are between € 50 and € 750 for the borrowed amount and between 1 and 30 days as the return period. This makes online credits add the prefix ‘mini’ to define them.

Comparison of personal loans in terms of interest

The great consequence of the long repayment schedules that must be followed to return a traditional loan is that many interests are paid in this way: the first installments are almost exclusively interest on the loan itself, which continues to be paid in the remaining installments. To this we must add other associated expenses such as the study commission, opening commission, payment protection insurance, expenses for the formalization of guarantees, etc.
On the other hand, with personal online mini-loans such as those of Credy, expenses are reduced to management , with no opening fees or other associated disbursements. This fact not only saves the client money , but also frees him from bondage over time, a bond that the borrower of a traditional credit does suffer while his payment schedule lasts.

Necessary documentation

Another no less important difference is that of the necessary documentation to request a loan. In the traditional ones, the greater the quantity requested, the greater the number of documents required. Some of them are:

• Employment contract with fixed payroll.
• Guarantees from third parties or bank guarantees that respond to unpaid assumptions.
• Relationship of the borrower’s personal assets
• Rental contract for tenants or housing deed for owners.
• Receipts for household consumption, such as electricity and water.
• Bank statements to check the average balance of the account during the last months.

None of this is necessary in the online personal loans of Credy.es. Bureaucratic obstacles do not exist and the only personal data to be provided are the application form, as basic as name, home address, employment status or bank account number necessary to properly receive the minipréstamo .

Who can request it

Finally, another fundamental difference is who can request a type or another of personal loan. In traditional loans, the demands are very high, mainly with regard to a fixed payroll with high income and an unblemished credit history. That is, the people who are part of ASNEF have the closed door to this form of financing.
In the case of Credy.es, practically anyone of legal age can request one of our mini-credits. In fact, the acceptance rate of applications that we handle is around 90% . With us you do not need to have a fixed job but rather a demonstrable periodic income . In addition, the fact of being registered in a list of defaulters such as ASNEF, FIJ or RAI is not an impediment to access our online credits.
Therefore, as a summary, ease of application , the most accessible conditions , the lowest interests , the absence of bureaucratic obstacles and universalization are the main advantages of online personal loans compared to the personal loans of banks and financial institutions. traditional

Are you tired of always being in the hole? To be constantly looking for sufficient funds to make ends meet or to be constantly harassed by unhappy creditors? You may be victims of unfortunate circumstances that condemn you to these financial difficulties, but experience indicates that financial mismanagement is often the source of such problems.

Uncontrolled spending, poor credit management, or simply lack of financial planning can all be the cause of financial trouble. Whatever the reasons, the important thing is to find a solution to put an end to such debt and establish strategies that will ensure your financial security in the long run. Here are our 13 pro tips to get your wallet back on your feet and prevent the worst from happening – bankruptcy!

1. Put a financial plan in place!

   

It’s far too easy to get caught in the trap of squandering your pay check every two weeks without putting a dime aside. When money comes quickly, it often comes out just as fast! This is what a personal financial plan seeks to avoid! By establishing a short, medium and long term investment method, you are sure that all your needs will be met not only today, but also when your situation evolves.

For example, by meeting with a financial planner, he or she will be able to put together a plan that will grow your assets while putting a stop to your excessive expenses. It will make you think long term and will advise you on the best way to clear all those debts lying around.

A financial plan can be used to pay debts, but it can also help with the completion of several projects, such as your retirement or the education of your children. These projects are all the more difficult to accomplish if you are buried in debt.

2. Respect this same plan!

Unfortunately, it is not enough to have good intentions and to set up a financial plan, but it must be respected! It is here that you will have to do your will by implementing the mechanisms you have given yourself or that a financial planner has put in place for you because even the best of plans is worthless without proper execution.

This is all the more important if your debt is large and requires an honest effort on your part to get rid of it. Failure to comply with your financial plan will delay repayment and even worsen your situation in many cases.

3. Keep an inventory of your credit

If you’re in hot water financially, it’s probably because you owe money to more than one person. That’s why it’s important to keep an inventory of the debts you have incurred, especially those that are on credit and high interest.

Without a clear inventory of your credit, you risk losing control of your finances, forgetting to pay bills and thus making your situation worse.

Your method does not have to be complicated or even detailed, just find an effective way that suits you to keep a list of everything you need.

4. Sell ​​property to pay your creditors

It can be painful to dispose of some valuable property to another person simply to pay off debts, but be aware that this option is always better than having the trustee seize the same property during a bankruptcy! Indeed, before thinking about setting up a debt settlement mechanism such as a consolidation or a consumer proposal, consider leaving luxury goods or that you do not need!

By paying your creditors instead of negotiating an agreement or reduction with them, you are saving your credit report from the negative impacts that debt settlement can incur. For example, the consumer proposal negatively affects your borrowing capacity and will be displayed in your file. However, the payment of your debts following the sale of your property leaves no trace!

5. Establish the priority debts

All your debts are not as urgent as each other! Even if the ultimate goal is to get rid of all your debts, the starting point is to put in place a repayment strategy that identifies which debts should leave first or how you decide to pay them.

Which of your auto, credit card, line of credit or student loan loans charge the highest interest rate? The answer to this question will certainly dictate the order of repayment of your debts. For example, student loans are generally granted at low interest rates, while your credit card is not as generous.

It is therefore advisable to pay high interest rate debts first in order to pay less in the long run because of the accumulation, although it is also ideal to make the minimum payment on all your debts, small and fat.

However, these are tips that apply generally. Your personal circumstances may require a different approach, such as paying the smallest debts first. It depends essentially on the extent of your debt and the strategy adopted by you or your planner. However, this strategy carries the risk of paying more interest, but you will still have the advantage of getting rid of some of your debts completely.

6. Opt for authorized payments

When the option comes your way, opt for automatic payment methods. This will prevent you from having to ask yourself each month whether you should pay a particular bill because the payment will be made on its own.

Automatic or pre-authorized payment options are available in the vast majority of financial institutions and allow you to transfer funds to a creditor automatically. In addition, this avenue is available for free or low cost in most financial institutions, so there is no excuse not to use it.

Automatic payments are especially advantageous for paying credit card bills, as this is where ordinary mortals accumulate the majority of their debts. By automating payments on your Visa or MasterCard, you avoid the high interest rates that accompany the non-payment of your balance.

7. Be wary of interest rates

When you decide to borrow on credit, even in a debt situation, beware of the interest rate attached to the loan. Make sure you have no option but to take out such a loan and if so, check that the rate is in line with market standards and is not abusive.

It is not because you are indebted that you must accept any loan conditions. This is especially true, among other things, when a debt consolidation. The idea behind such a strategy is to benefit from a favorable interest rate, but this is not always the case, so it is important to shop around and find out from financial professionals!

8. Plan an emergency fund!

Easier to say than to say, and you’re right! But that’s no reason to ignore this proven strategy. In fact, an emergency fund will help you get rid of your debts if an unforeseen event disturbs your financial stability. This strategy is all the more relevant if you hold risky stocks that are highly affected by market fluctuations.

Creating a fund avoids the use of lines of credit and interest rates that accompany credit in general. These options only perpetuate the repayment of your debts, while a short-term, liquid emergency fund will prevent you from falling into such a vicious circle. The amount can be placed in savings accounts such as a TFSA or any other stable investment vehicle. We would not want to see the emergency fund disappear even before we need it!

9. Increase your income

This may seem obvious, but an effective method of getting yourself out of debt is to increase your income. This is certainly not the easiest, because you will have to put extra effort, but in front of the accumulating debts at high speed, you will have no other choice but to face the music.

To make more money, you can find a second job or volunteer to work overtime at work you already have. If you live in an apartment, it might be beneficial for your wallet to think about taking a roommate to lower housing costs.

Even better, if you own a house and have too many rooms, consider renting them! Students coming from outside are always looking for low-priced rooms to stay in while studying, so why not take advantage of them?

It is also possible, by consulting a financial planner, to rethink your investment strategy to ensure that the return is optimal and that you do not miss opportunities to make money. In any case, consulting a financial planner is also a good first step to find the best way to increase your income according to your personal situation.

10. Consolidate your debts

At a certain point, your over-indebtedness might seem insurmountable and chaotic. The list of dissatisfied creditors is growing, the debt is growing at the rate of high interest rates and the hope of one day being freed from this burden evaporating quietly. To avoid such a scenario and accelerate the repayment of your debts, consider consolidating them!

Debt consolidation is the method by which you get a loan from a financial institution to pay your creditors. A payment plan will be put in place on a monthly basis and you will only have to pay the bank as a single creditor instead of the many creditors you were trying to pay off. This has the advantage of paying your debts at an interest rate that will be set by the bank and much lower than the debt you currently have.

In addition, by consolidating your debts, you avoid a lot of damage to your file and your credit rating, which is negatively affected by the payments you make late each month. The important thing is to respect the agreement put in place by the bank, otherwise the benefits of debt consolidation may go up in smoke!

11. Make a consumer proposal

    

If you’re going to make a consumer proposal, it’s because the bankruptcy process is beginning to be felt more and more. To avoid this disaster, the consumer proposal may be the option of choice. It consists of presenting an offer of payment to your creditors in order to reduce the amount to be refunded or to extend the payment period. You can submit an offer at any repayment percentage and it will be up to your creditors to accept or reject this offer.

By taking advantage of the consumer proposal, you avoid having to face bankruptcy and have you seize your property to pay your creditors. In addition, your credit rating will not fall as low with a consumer proposal as in the case of a bankruptcy, which will help you get back on track and get you out of debt faster.

The payment period of a consumer proposal is for a maximum of 5 years, which establishes a fixed term to your repayment period and sends the process of repayment of your debts. If your proposal is rejected by your creditors, you will still have the option to submit a new one on different terms, but in the event that no agreement is reached, bankruptcy will become almost inevitable if your situation is serious. .

12. Make a budget!

    

It is said that the best defense is attack! The man who said such a maxim must know how to manage his wallet, because the same thing applies to the management of your finances! We must not wait to be in debt to the neck to put a plan in place, we must take the lead.

Budgeting also means taking into account the size of your income in relation to the money you owe and setting up a payment plan before you have no choice but to resort to to debt consolidation or the consumer proposal.

13. Stop making the same mistakes!

This is where you get a bit of morals and show you all our wisdom grandfather! Whether you are dealing with the best financial recovery experts in Quebec, or you manage to consolidate your debts at a favorable rate, it does not matter if you keep repeating the same mistakes.

Stop using credit to pay for things you can not afford with the funds in your account. This will avoid putting up an invoice that you are not able to pay every month. This is all the more true if you are the type to make only the minimum monthly payment and you let the interest rates take hold of you.

Unless there are uncontrollable circumstances, indebtedness is mainly due to bad buying and consuming habits, such as a lifestyle that is excessive in relation to perceived income. The only solution for such a situation is to put in place a financial discipline, and what better than to hire experts to put you back on track?

Do you want to hire an expert to get you out of debt?

Until recently, borrowing 100 euros was impossible. At least, through the traditional and legal channels. The available options were friends and relatives, with the consequent discomfort that this generated, or mortgaging with a bank requesting a much larger amount than what was really needed. But thanks to the Internet, it is already possible to ask for an immediate credit worth 100 euros or even less. Here we tell you all the keys to this type of microloan.

Who grants loans of 100 euros?

To apply for 100-euro loans, you do not have to go to any bank office. In fact, it is not even necessary to move from home: in recent years a flourishing mini – loan sector has emerged that serves those seeking quick and low-value financing solutions, something that banks were not able to offer. 
Credy.es is a good example of this. On our website you can apply for really low loans of just 50 euros, although you can increase the amount requested up to 750 euros. Regarding the term for the return, it is the client who chooses it: from 1 day to 30 days. For this, you will only need to register as a user by filling in a small form with your basic information, such as name, surname, address and account number in which you want to receive the loan. 

Advantages and disadvantages of 100 euro loans

The advantages of applying for low amounts loans on websites like Credy are numerous, much more than their disadvantages. The great pros of these minipréstamos are the facility to request them, the rapidity with which the money is received in the account, the privacy that is guaranteed throughout the process or the security in each operation, since all operations are performed under encryption. SSL
A disadvantage is its higher proportional cost , which is reflected in a higher APR than other larger loans, such as personal loans of 5,000 euros. However, even though the APR is higher, the total expense will be lower at the end of the operation: what is the point of asking for a loan higher than what is needed just because the APR is lower?

What can 100-euro loans be for?

Although it may seem like little money, a loan of 100 euros is a real help in many cases. One of the clearest examples is the traffic fine that is still in the voluntary period: paying it on time with an online mini-credit will avoid having to pay the full amount of the fine, which is often double what is paid in voluntary period, that is, 200 euros in this case. Therefore, this loan of 100 euros is actually a way to save another 100 euros, which would have to deduct the costs of the operation, which in any case are close to these amounts.
Another situation in which 100-euro loans are welcome is when we lose the house keys and we have to call the locksmith to come and open the door. That amount of money, which is often enough to pay for an emergency opening, can be requested even while the locksmith is working on opening your lock.
However, that of the locksmith is not the only urgent repair that can arise during the day: the car can leave us lying without warning. And any breakdown that affects important parts for the operation of the vehicle must be resolved urgently, since in this case the safety of the driver and passengers is at stake. On the other hand, with 100 euros you can also rent a car in a rent a car office, while the vehicle itself is being repaired in the workshop.
Another of the emergency situations that may arise is the loss or breakage of the glasses , one of the essential accessories for those who wear them. These 100 euros can be enough to buy new ones, to repair old ones immediately or to acquire emergency lenses, without having to wait at the beginning of the month.
But not only for emergencies can these loans of 100 euros be used. In fact, many clients decide to request their mini credit to pamper themselves . For example, for the purchase of airline tickets at an unrepeatable and fleeting price, or to buy tickets for the concert of the year, which in a short time will hang poster of ‘No seats left’. In the same line are special offers in auction stores like eBay or extraordinary discounts on certain days, such as Black Friday. In these cases, the gift of opportunity and speed of Credy.es join to save money on purchases of this type.