In most cases, it is necessary to take out another loan in addition to the house financing. Investments, repairs and new purchases can be deferred for a few months or years; but postponed is not suspended. Rising living costs make saving more difficult and ensure that debt financing is becoming increasingly important. In some cases, such as repairs, you can benefit from government grants and get a cheaper loan. It is important that you accurately calculate your income and expenditure before borrowing to minimize the risk of over-indebtedness.

Small loans – more popular than ever

Small loans - more popular than ever

Apart from “normal” installment or instant loans, there is also the possibility to finance expensive purchases with a small loan from mail order companies or shops. At first glance, such small loans are practical and advantageous – but if you are not careful, several small sums of money can accumulate into a large debt mountain. For this reason, you should take such offers with caution and opt for a proper loan. The high interest rates of the mail order companies and shops can be very painful over time – especially if you can not repay your loan in time.

How to find the best supplier

How to find the best supplier

If you are looking for a cheap loan offer, despite having a loan, you should make a comparison on the internet. There you have the opportunity to compare all conditions of different providers and to opt for the best loan. The basic requirement for granting a loan is of course a perfect credit rating. Also proof of income and private creditauskünfte play an important role. Meanwhile, there are also online banks that offer loans without private credit. If you have had trouble repaying loans in the past, such a loan could be worthwhile for you. But again: stay within the limits and try to keep the financial risk as small as possible.