How do you choose the right amount of payday loan for yourself?

You want to take out a payday loan, but you do not know what amount will be right for you?

Jak wybrać właściwą kwotę pożyczki dla siebie?

It is good to think about it not to take too much or too little. How to determine how much money do we need from a payday loan? Check with us!

We take out payday loans for various purposes, including renovation, purchase of home furnishings, holiday trips, children’s school kits or debts. We can take a payday loan for any purpose – it’s up to us how we use the money we receive.

The amount of the payday loan we can get depends on a number of different factors, including what offer we choose, and what our creditworthiness and creditworthiness is. In the case of payday payday loans it is usually up to several thousand zlotys, for installment payday loans even several hundred thousand zlotys.

The payday loan hit the bull’s-eye

A good payday loan is one that will meet the borrower’s requirements – also in terms of the amount available. We usually take payday loans for a specific purpose, which is why we should choose the amount of money to exactly how much we plan to spend money. For example, if we want to buy a new washing machine for PLN 1200, we can simply take out a payday loan for PLN 1,200.

However, if we can get a higher sum, there is a temptation to spend additional money on other, less urgent goals. Of course, it does not have to be that way – we can, for example, take more money and make long-planned wall painting. However, when we think about spending money on something that we do not really need, it is worth considering twice.

What too much is not healthy

The payday loan amount should not only correspond to the purpose for which we want to spend it, but also our financial capabilities. Taking a large payday loan when you are in a bad situation can be a simple way to get even more trouble.

Therefore, we should be careful when the payday loan company or the bank wants to offer us a payday loan higher than our current needs. Let us calculate whether a given installment will not be too much of a burden for our household budget. Then we can fall into a spiral of debt, our case can go to the debt collector, finally to the debt collector.

In order not to take another payday loan when you run out of money

On the other hand, we must also remember to set our payday loan amount so that it does not turn out that we will have to contract another one soon. This applies first of all to cases in which we want to carry out repairs or repairs of the car and we do not know exactly if there will be any additional costs that we do not know about yet.

In this case, it is worth thinking about taking a slightly larger payday loan, for example by 10% or 20% in relation to the assumed amount. But do not spend the surplus at once – let’s wait for the work to end. When it turns out that we do not have to use an additional sum, we can use it to repay the installments and give the payday loan earlier or simply to spend on other purposes, but only if we know that we need enough money to repay the remaining debt.