Christmas and consumer loans are an expensive and long-lasting cocktail

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There are many lovely and cozy traditions associated with Christmas. Unfortunately, Christmas is also an expensive time, where the cash registers blend happily in the shops together with Christmas music. This means tradition believes that it is the time of year, most of whom are having trouble paying the rude omverter the otherwise strange postman puts in the mailbox.

Many unfortunately choose to “save” Christmas by taking up consumer loans or paying for a payment, which, if something makes Christmas a great pleasure, these loans will unfortunately be repaid again. This type of loan is usually characterized by an expensive interest rate and not least a creation fee. It may be tempting to fall for the “good” offer of paying only for example. 300, – a month, as one’s economy usually has room for this.

So expensive it is

Loan example of DKK 10,000, – as a consumer loan
It typically costs $ 1,000, – in establishment and usually has an interest rate of around 21% – This means that you pay 300, – per day. month can settle the debt over approx. 60 months (5 years!) After which you have paid 18,000, – back.

In this way you can really say that Christmas lasts a long time and how is it that the next Christmas is going to be done?

In other words, you have paid DKK 8000, – and even though the debt lasts for 5 years, the joy of the good Christmas and Christmas presents usually forgotten shortly after New Year’s Eve. So, therefore, it’s important to think carefully before you get tempted by these “good deals”.

Plan your finances

If instead they save $ 300 a “Christmas account” every month, you get rid of the financial hangover after the New Year, and instead can look forward to the next Christmas.

Most people who have problems with the economy do not have a budget, do you have? If you do not have an overview of your finances, you often feel that the money does not work. Therefore, a budget schedule is an important tool for a healthy economy.

Do you already have more debt than you can pay?

Are you already caught in a debt trap where you can no longer pay all your installments. So let 360 Debt make a non-binding bid on how to get a healthy economy, get rid of the worries, and again let Christmas be the joy party. You can read more here!
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The post was written by Finn A. Eriksen from

Be aware when comparing consumer loan prices

There are many comparison pages on the web that compare everything from airline tickets to consumer loans. When comparing consumer loans, you need to be extra aware. Consumption is a complicated product, which includes concepts that can be difficult to understand the importance of. If you are considering borrowing money by taking a consumer loan, pay special attention to these factors: principal, interest rate, fees and maturity . It is a good idea if you collect loan offers from several places , so you can compare the bank prices and ensure you the cheapest consumer loan . Paying attention to banks’ prices and switching banks may be worth it if your current is too expensive or you can get more benefits in another bank.