Financial aid in 2015? See the best loan options

The year 2014 is coming to an end, but not a few are looking to the future, worried about the direction their finances will take next year.

The first step in solving this anguish is to analyze the problem head on: you are in high debt or money is short, but can you make it to the end of the month without any financial help?

From this analysis it is possible to reach the conclusion if the best way is to readjust its expenses, to cut costs in the day to day and even to get rid of some assets to put the finances in order. If the answer is yes, great! If your situation is a bit more serious, with expensive debts, the overdraft or the credit card rotary, resorting to financial help may be accurate.

It is important to keep in mind that this aid is momentary, not the solution. Review your problem and see which loan option might be best for you:

Payroll loan

Payroll loan

Among the types of loans available on the market, payroll is the best option for those who need financial help. With interest rates of around 2% per month, payroll loans are an alternative to those who have debts on more expensive lines of credit in the market, such as credit cards and overdrafts, or have had an expense that was not included in the budget. there is no financial reserve to cover it.

It is possible to resort to financial aid from the paycheck to pay off the oldest debt in sight, replacing one with the other, for much friendlier interest, which is a good option. The only restriction is that the payroll loan is only available to pensioners and retirees or company employees who have an agreement with a bank or a financial institution to offer the benefit to their employees.

Personal loan

Personal loan

If you do not have access to the payroll loan model, you can opt for personal loan financial help. The average annual rate of this modality is 3.02% per month which, although higher than the first option, is cheaper than overdraft and credit card. The ideal is to look for specific lines, such as restitution of the Income Tax or anticipation of the thirteenth salary. In these cases, the financing is directly linked to the payment of the benefit in question. Once you receive the cash, the discount of the personal loan amount (and their respective interest) is realized.

How not to depend on financial aid

How not to depend on financial aid

Financial help may be needed at certain times in life. The important thing is not to make this a habit. Use the loan you have acquired wisely, be it to pay off more expensive debt or solve an emergency problem. From there, it is important to seek to acquire healthy financial habits, avoiding waste.