Things to Consider Before Applying for a Loan

These days loan application is kinda easy, as long you have all the requirements needed and you pass the verification, you can already have the thing that you want.

You may have attained the loan that you want, but the responsibility that lies ahead is that big thing you should keep an eye on. You need to make sure that you’re being a responsible payor because if you’re not, you might get in trouble and be in distress.

It is very important to check your financial situation first if you have the capability to pay for a loan before applying. Whatever type of loan you are planning to get, you must take note of these things first.

1. What is the purpose of your loan application?

Will the loan help you achieve your money goal or it is just a luxury that you wanted to get?

Ask yourself that question first and you will be able to get an answer if you must apply for a loan or not.

If it will help you reach your goals, then go ahead. However, if it’s just a vanity you should think first especially if you’re having a hard time with your finances.

2. Can you afford to pay the loan?

If you’re having a hard time with your finances, maybe it’s not the right time to apply for a loan because it will just add up to the burden that you’re carrying, but if you think you are handling your finances well and there’s still a big amount of money that was left after you pay all your bills, then maybe that is an indication that you can afford to pay for the loan that you wanted.

3. Does the loan application you prefer needs collateral

Some of the lenders will require you to provide collateral before approving your loan because they want to know that you have the ability to repay it. The collateral that you give will serve as the guarantee to the bank so if by any chance the borrower fails to repay the loan, the bank can sell the collateral to obtain the amount of the loan.

4. Are there any other fees or penalties that come with the loan?

When applying for a loan you must be vigilant. Be mindful of every detail. Make sure to ask about all the fees that were included and if there were penalties if you failed to pay. Be aware of the hidden charges.

5. Is the lender legit?

Be sure to apply for a loan in a legit lender. Be aware of the loan shark, yes they might provide you cash easily but you might end up in the worst situation, so it is very important to make a legitimacy check.

6. Pay attention to debt

If you still have other debt, you must pay that first before applying for a new one. Having so much debt might cause you trouble. In addition, once you pay for your debt, it removes all of the worries and side effects that debt can bring. It also gives you the satisfaction that comes with the fact that you don’t owe anyone anything. If that happens and you’re already debt-free that’s the time that maybe you can apply for a loan.

7. Live within your means

Spend less on your living expenses than you generate in earnings. If you live within your means, you will prioritize and be mindful of your spending to acquire what is truly important in the short term and still being able to save for long-term goals. Do not apply for a loan if you know to yourself that you can’t afford it. Remember that if it’s meant to be yours it will be, work harder and save for the future so that when the right time comes you will be able to buy something without applying for a loan.

Helpful Article:
SSS and GSIS Calamity Loan
Guide on How to Apply for a Salary Loan
Housing Loan Guide For Your Dream House
Available Loans for OFWs

352 Comments

  1. Thanks for the auspicious writeup. It if truth be told wasa leisure account it. Glance complex to more delivered agreeable from you!However, how could we keep in touch?

  2. magnificent issues altogether, you simply gained a logo new reader.What might you suggest in regards to your publish that you simply made a few days in the past?Any sure?

  3. Wonderful blog! I found it while browsing on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Appreciate it

  4. Aw, this was an exceptionally good post. Taking a few minutes and actual effort to generate a great articleÖ but what can I sayÖ I procrastinate a lot and don’t seem to get anything done.

  5. I like what you guys tend to be up too. Such clever work and coverage!Keep up the superb works guys I’ve included you guys to my blogroll.

  6. I enjoy, lead to I found just what I was looking for.You’ve ended my 4 day long hunt! God Bless you man. Have agreat day. Bye

  7. Hi! I just would like to offer you a big thumbs up for your excellent information you’ve got here on this post. I am coming back to your blog for more soon.

  8. Hi, I do think this is a great blog. I stumbledupon it 😉 I am going to revisit once again since I bookmarked it. Money and freedom is the greatest way to change, may you be rich and continue to guide other people.

  9. It’s difficult to find well-informed people on this subject, however, you seem like you know what you’re talking about! Thanks

  10. 415959 836591I truly appreciate this post. Ive been searching all over for this! Thank goodness I identified it on Bing. Youve created my day! Thank you once more.. 38049

  11. Dünyanın her tarafından milyonlarca oyuncu ile en iyi ücretsiz Rulet oyununu oyna! 3D grafik özellikleriyle tüm rulet çeşitlerini sunan gerçekçi bir Rulet … Rulet

  12. Thanks for the good writeup. It in truth was once a amusement account it. Look complex to more added agreeable from you! By the way, how could we be in contact?

  13. Wow that was strange. I just wrote an incredibly longcomment but after I clicked submit my comment didn’tappear. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say excellent blog!

  14. Nice post. I was checking continuously this blog and I amimpressed! Very helpful info particularly the last part 🙂I care for such info much. I was seeking this certain infofor a long time. Thank you and best of luck.

  15. Thank you, A lot of tips!writing a problem solution essay courses online article ghostwriter

  16. I will immediately seize your rss feed as I can’t find your email subscription link or e-newsletter service. Do you have any? Please let me know in order that I could subscribe. Thanks.

  17. You can certainly see your enthusiasm in the article you write. The arena hopes for even more passionate writers like you who are not afraid to mention how they believe. At all times follow your heart.

  18. It’s really a nice and helpful piece of information. I am satisfied that you simply shared this useful info with us. Please stay us up to date like this. Thank you for sharing.

  19. Thanks , I have just been searching for information about this topic for ages and yours is the best I’ve discovered till now. But, what about the conclusion? Are you sure about the source?

  20. I’m really impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you modify it yourself? Either way keep up the nice quality writing, it’s rare to see a great blog like this one nowadays..

  21. สล็อต บาคาร่า ยิงปลา กีฬาทุกรูปแบบไม่มีขั้นต่ำแค่ 1 บาทก็ฝากได้เล่นได้รางวัลใหญ่แตกทุกชั่วโมงอย่างต่อเนื่องแอดมินยินดีให้บริการ 24 ชั่วโมงค่ะ

  22. What’s up colleagues, its impressive article concerning educationand entirely explained, keep it up all the time.

  23. Awsome info and right to the point. I am not sure if this isactually the best place to ask but do you folks have anyideea where to hire some professional writers?Thank you 🙂Also visit my blog TestonoX Side Effects

  24. I quite like reading a post that will make men and women think. Also, many thanks for allowing for me to comment.

  25. Hey! I know this is somewhat off topic but I was wondering if you knew where I couldlocate a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having problems finding one?Thanks a lot!

  26. Hey There. I found your blog using msn. This is an extremely well written article. I’ll be sure to bookmark it and return to read more of your useful info. Thanks for the post. I will certainly return.

  27. Howdy, i read your blog occasionally and i own a similar one and i was just curious if you get a lot of spam responses? If so how do you prevent it, any plugin or anything you can recommend? I get so much lately it’s driving me insane so any help is very much appreciated.

  28. When I initially commented I seem to have clicked the-Notify me when new comments are added- checkbox andnow each time a comment is added I get four emails with the exact same comment.Is there a way you can remove me from that service?Appreciate it!

  29. prednisone while pregnant can i take ibuprofen with prednisone why do you have to wean off prednisone

  30. Hey There. I found your blog using msn. This is a very well written article.I will make sure to bookmark it and return to readmore of your useful information. Thanks for the post.I will certainly comeback.

  31. Link exchange ?s noth?ng else but it iis just placing th? ?ther person’s blog link on ?our pagye at a?propriate ?lace and other pdrson willalso do sim?lar ?n avor of you.Check ?ut my blog: Mature

  32. Aw, this was an exceptionally nice post. Finding the time and actual effort to create a superb articleÖ but what can I sayÖ I procrastinate a lot and never seem to get anything done.

  33. Hey! I just wanted to ask if you ever have any issues with hackers? My last blog (wordpress) was hacked and I ended up losing several weeks of hard work due to no back up. Do you have any solutions to prevent hackers?

  34. The very next time I read a blog, I hope that it doesn’t disappoint me as much as this one. I mean, I know it was my choice to read, nonetheless I actually thought you’d have something useful to say. All I hear is a bunch of moaning about something that you could possibly fix if you were not too busy looking for attention.

  35. Hello There. I found your blog using msn. This is a really well written article. I will be sure to bookmark it and return to read more of your useful info. Thanks for the post. I?ll certainly return.

  36. Hello colleagues, its enormous piece of writing concerning educationand completely explained,keep it up all the time.My blog … delta 8 thc for sale

  37. Thanks on your marvelous posting! I quite enjoyed reading it, you’re a great author.I will make sure to bookmark your blog and will eventually come back fromnow on. I want to encourage you to ultimately continue your great job, have a nice day!

  38. Hey, thanks for the post.Really looking forward to read more. Will read on…Loading…

  39. Its really a great and helpful piece of info. Im glad that you shared this useful info with us. Please keep us informed like this. Thanks for sharing.

  40. Having read this I thought it was extremely informative. I appreciate you taking the time and energy to put this short article together. I once again find myself personally spending a lot of time both reading and posting comments. But so what, it was still worth it.

  41. Thanks for the auspicious writeup. It in reality was a enjoyment account it.Glance complex to more added agreeable from you!By the way, how can we keep up a correspondence?

  42. An interesting discussion is worth comment. I think that you need to write more about this issue, it might not be a taboo subject but typically people do not speak about such subjects. To the next! All the best!

  43. I will immediately grasp your rss feed as I can not to find your e-mail subscription link or newsletter service. Do you have any? Kindly let me realize in order that I may just subscribe. Thanks.

  44. Greetings, I believe your site may be having browser compatibility issues. Whenever I take a look at your site in Safari, it looks fine however, if opening in Internet Explorer, it’s got some overlapping issues. I just wanted to give you a quick heads up! Other than that, great website!

  45. araba aksesuar Aleisha Campbell araba araba Ali Alvarez araba arkası yazıları Kajol Schmitt araba arkası sözler Tobias Flynn araba anahtarlığı Lennie Penn araba anahtarı Indigo Pruitt araba aküsü Yaseen Mcfarland araba al Selina O’Neill

  46. Appreciate it! Loads of write ups.uc college essay essay about the help writing company

  47. I’m impressed, I have to admit. Seldom do I come across a blog that’s both equally educative and interesting, and let me tell you, you’ve hit the nail on the head. The issue is an issue that too few folks are speaking intelligently about. I’m very happy that I found this in my search for something relating to this.

  48. This is the right site for everyone who wishes to find out about this topic. You understand a whole lot its almost tough to argue with you (not that I actually would want to…HaHa). You definitely put a new spin on a topic that has been discussed for decades. Excellent stuff, just excellent.

  49. I am not sure where you are getting your info, but good topic. I needs to spend some time learning more or understanding more. Thanks for fantastic info I was looking for this information for my mission.

  50. whoah this blog is excellent i love reading your posts. Stay up the great paintings! You already know, lots of people are searching around for this info, you can help them greatly.

  51. Wow that was strange. I just wrote an incredibly long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say fantastic blog!

  52. I blog frequently and I genuinely appreciate your information. The article has really peaked my interest. I’m going to bookmark your blog and keep checking for new information about once per week. I subscribed to your RSS feed as well.

  53. Hi just wanted to give you a quick heads up and let you knowa few of the images aren’t loading correctly. I’m not sure why but I think its a linking issue.I’ve tried it in two different browsers and both show the same outcome.

  54. Hello! Do you know if they make any plugins to assistwith Search Engine Optimization? I’m trying to get my blogto rank for some targeted keywords but I’m not seeing very good results.If you know of any please share. Thank you!

  55. Having read this I believed it was very informative. I appreciate you finding the time and energy to put this information together. I once again find myself personally spending a significant amount of time both reading and commenting. But so what, it was still worthwhile!

  56. Ahead of the recreation commences, you have got to think ofa tactic and program2 Player Games – Free Play Two Player Game – Best Games2 player games

  57. Online online casinos use a range of slots you can take pleasure in if you are a follower of having fun. There are several online gambling establishments, however it is important to select the ideal one for you.

  58. You’ve made some really good points there. I looked on the net to find out more about the issue and found most individuals will go along with your views on this web site.

  59. Having read this I thought it was really informative. I appreciate you taking the time and effort to put this content together. I once again find myself spending way too much time both reading and commenting. But so what, it was still worthwhile!

  60. An interesting discussion is worth comment. I do think that you need to write more about this subject matter, it might not be a taboo matter but generally folks don’t talk about such topics. To the next! Cheers!

  61. I do agree with all the ideas you have presented in your post. They are very convincing and will definitely work. Still, the posts are too short for starters. Could you please extend them a bit from next time? Thanks for the post.

  62. I read this piece of writing fully regarding the resemblance of mostrecent and preceding technologies, it’s remarkable article.Here is my blog … Green Earth CBD Review

  63. Hi! This is my first visit to your blog! We are agroup of volunteers and starting a new initiative in a community in the same niche.Your blog provided us valuable information to workon. You have done a extraordinary job!

  64. This website really has all of the information and facts I wanted about this subject and didn’t know who to ask.

  65. Yes, if you are fortunate adequate to obtain a no deposit bonusor absolutely free bet.

  66. We are a group of volunteers and starting a new scheme in our community.Your web site provided us with valuable information to work on. You have done an impressive job andour entire community will be thankful to you.

  67. I’d like to thank you for the efforts you’ve put in penning this blog. I really hope to see the same high-grade blog posts from you in the future as well. In fact, your creative writing abilities has motivated me to get my own, personal blog now 😉

  68. hello!,I like your writing so much! share we communicate more about your post on AOL? I require an expert on this area to solve my problem. May be that is you! Having a look forward to look you.

  69. Hi there! I simply wish to give you a big thumbs up for the excellent information you have got right here on this post. I’ll be returning to your web site for more soon.

  70. Thanks for getting me back into the reading again. I really enjoyed the stuff you shared in the form of blogs. Keep writing.

  71. Having read this I thought it was extremely informative. I appreciate you taking the time and effort to put this content together. I once again find myself spending a significant amount of time both reading and leaving comments. But so what, it was still worth it.

  72. Wow! This could be one particular of the most helpful blogs We have ever arrive across on this subject. Basically Great. I’m also an expert in this topic so I can understand your effort.

  73. It is really a great and helpful piece of info. I am happy that you just shared this helpful tidbit with us. Please stay us up to date like this. Thanks for sharing.

  74. You could definitely see your enthusiasm in the work you write. The arena hopes for even more passionate writers like you who are not afraid to mention how they believe. At all times go after your heart.

  75. After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on each time a comment is added I receive 4 emails with the same comment. There has to be an easy method you are able to remove me from that service? Kudos.

  76. There is perceptibly a lot to know about this. I suppose you made certain good points in features also.

  77. F*ckin’ amazing things here. I am very satisfied to see your article. Thank you so much and i am having a look ahead to touch you. Will you kindly drop me a e-mail?

  78. Wow that was unusual. I just wrote an extremely long commentbut after I clicked submit my comment didn’t appear.Grrrr… well I’m not writing all that over again. Anyways, just wanted to say wonderful blog!

  79. texas poker- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  80. Right here is the perfect web site for everyone who wants to understand this topic. You realize a whole lot its almost hard to argue with you (not that I actually will need to…HaHa). You definitely put a fresh spin on a subject that has been written about for decades. Wonderful stuff, just wonderful.

  81. Great post. I was checking continuously this blog and I’m impressed! Extremely useful info specially the last part 🙂 I care for such information a lot. I was looking for this certain information for a long time. Thank you and good luck.

  82. Aw, this was a very nice post. In concept I want to put in writing like this additionally – taking time and precise effort to make a very good article… but what can I say… I procrastinate alot and in no way seem to get something done.

  83. Pretty great post. I just stumbled upon your blog and wished to mention that I have really enjoyed surfing around your weblog posts. After all I’ll be subscribing to your feed and I’m hoping you write once more very soon!|

  84. poker game- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

Leave a Reply

Your email address will not be published.