economic crisis 2009 wiki
economic crisis 2009 wiki
Loans Advice
Loans Advice
“A sum of money or other valuables or consideration which an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest).” [1]
People today can be defined as ‘consumers’, and the world many of us live in could also be described as a ‘consumerist society’. Almost everything we see is an advertisement for something; loose weight, a new car, 50% off everything, Christmas presents, take a holiday, best bank account… being bombarded with all these adverts can lead many of us to think we want or even ‘need’ to buy lots and lots of more stuff.
Why get a Loan?
‘It all boils down to balancing the amount you want to borrow with the time you think it will realistically take to repay the money.’ [2]
At one time, if we did not have the money for all this new stuff then we would have to save up; which would inevitably test how much we really wanted whatever was being advertised. However, in today’s society, if we can’t afford these extra things, then we can decide whether we are prepared to pay more than the asking price so that we can take out a loan and have it now. Loans, as most people are now well aware of due to current economic crisis, can be very financially damaging and get us into a right mess. There should be a vital lesson to be learnt by looking at the problems the banks are currently in; managing our desires against what we can and cannot repay is very important.
Prudent Minds gives 3 great tips:
- “Never make a rush decision to buy the stuff they want
- Consider waiting until you can afford the stuff you want.
- Use a loan for stuff you want only if you can afford to repay the loan.” [3]
When to get a loan?
It is sometimes prudent to use a loan to buy the stuff you need; including the stuff that in the long run will actually save you money. For example, buying a washing machine rather than using the launderette, or a new car instead of hiring one month after month.
The economic crisis in the world today has revealed how quickly a financial mess can creep up; by causing a build up of financial problems to the point where there are no quick fixes. Creating new problems to solve old problems just gets you into a bigger mess; this is why it so important to research the options carefully and ensure you understand all the implications of setting a loan.
Which Loan?
‘The basic types of finance include credit cards, personal loans, overdrafts, flexible loans, mortgage loans.’ [4]
Choosing one of these types of loans is very important, as making the wrong choice could lead to difficulties. It is not as easy as finding the lowest interest rate (which is what so many banks advertise). Make sure you consider the various loan parameters; it is also widely recommended to use a ‘loan calculator to experiment with different amortization parameters and observe the effect on the cost of the loan.’ [5]
The costs of the loan you choose will be much less if you first focus on loan parameters that are also just as important. Taking all this into account, and being more careful at watching your finances, we could change the way the ‘consumerist society’ is today; potentially preventing further economic crisis.
References
- http://en.wiktionary.org/wiki/loan, loan (Wikitionary, Date N/A)
- http://www.uknetguide.co.uk/Finance/Article/Advice_For_Consumers_Taking_Out_A_Loan-100056.html, Advice for consumers taking our a Loan (UK Net Guide, Date N/A)
- http://www.prudentminds.com/loans.html, Loans (Prudent Minds, 2009)
About the Author
Prudent Minds
How to Save Money
Saving Tips from Prudent Minds
“The wisdom of the prudent is to give thought to their ways” – Proverbs 14:8
Prudence has been recognised as a virtue for thousands of years.
These guides have been written with the objective of making it easy to understand how to save money.
|
|
(1000) WHOLESALE ANTI OBAMA BUMPER STICKERS~OOPS! (c) HIGH QUALITY VINYL! $415.80 |
|
|
(500) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) LMFAO HIGH QUALITY VINYL! $251.96 |
|
|
Conservative Bumper Sticker Ultimate Collection! 350+, Anti Obama Stickers! $199.00 |
|
|
Anti Obama Bumper Sticker MULTI-PACK 125+ pcs! $149.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ T $140.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ U $140.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ V $140.00 |
|
|
(250) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) LMFAO HIGH QUALITY VINYL! $134.36 |
|
|
LOT OF 12 NEW ANTI OBAMA T SHIRTS 2 S 2 M 4 L 4 XL $119.00 |
|
|
Anti Obama “Nobama” bumper sticker (lot of 50 stickers) $99.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ Q $75.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ R $75.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ S $75.00 |
|
|
10 Recycle anti Obama T-shirts republican WHOLESALE $74.99 |
|
|
1-20-13 anti Obama conservative 10 T-shirts WHOLESALE $74.99 |
|
|
NEW Obamao anti against Obama 10 T-shirts WHOLESALE $74.99 |
|
|
NObama 10 T-shirts WHOLESALE anti against Obama S-3X $74.99 |
|
|
NOPE 10 T-shirts WHOLESALE anti Obama S-3X conservative $74.99 |
|
|
President Ronald Reagan Bills – 250 Pack – Capitalist Conservative Anti Obama $69.95 |
|
|
Anti Obama “Nobama” bumper sticker (lot of 30 stickers) $60.00 |
|
|
(20) 1-20-13 / NOPE anti Obama bumper stickers $59.99 |
|
|
(100) WHOLESALE ANTI OBAMA BUMPER STICKERS~REVOLT (c) $58.76 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $49.95 |
|
|
Anti Obama Black T-Shirt, with hand painted universal NO symbol! $45.99 |
|
|
Anti Obama Black T-Shirt, with hand painted universal NO symbol! $45.99 |
|
|
Anti Obama Black T-Shirt, with hand painted universal NO symbol! $45.99 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ N $45.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ O $45.00 |
|
|
Tea Party Anti Obama Decal Bumper Sticker GOP 3″ x 9″ P $45.00 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $44.95 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $44.95 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $44.95 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $44.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $43.95 |
|
|
NOBAMA Barack Obama Anti President Trump Hoodie T-Shirt $41.95 |
|
|
Anti Barack Obama OMG Must Go Funny T-Shirt Hoodie $40.45 |
|
|
Anti Barack Obama OMG Must Go Funny T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Retro USA Flag Ron Paul 2012 President anti Obama Revolution T-Shirt Hoodie $40.45 |
|
|
Barack Obama Countdown Clock $6.13 This Barack Obama Countdown Clock is the perfect gift for those who simply can’t wait until Obama is out of office! Are you frustrated with the current administration? Are you not stimulated by the President’s stimulus package? Instead of rioting and taking to the streets, know how many days are left before he is out of office. With this Obama countdown clock, every measurement from years to secon… |
|
|
NoBama Hopey Changey Anti-Obama Mug $15.95 Express your opinion on your coffee mug!… |
|
|
I WAS ANTI OBAMA BEFORE IT WAS COOL Political 1.25 MAGNET ~ Barack $0.01 These magnets are manufactured from the highest quality materials, made of a hard metal base, thick mylar, strong magnet and true to life vibrant colors. Put them on your refrigerator, locker, file cabinet or any metal object you can think of! Magnets are great party favors for your next gathering and also make great prizes/giveaways. They are wonderful gifts for everyone!… |
|
|
Change Is Gonna Come Sessions $8.98 Bettye LaVette stole the show at President Obama’s Inaugural concert with her impassioned rendition of Sam Cooke’s “A Change Is Gonna Come,” performed with Jon Bon Jovi. Here LaVette performs the song on her own in an intimate studio setting, along with five other classic tracks by African-American songwriters, written in the spirit of change.This product is manufactured on demand using CD-R reco… |
|
|
Rock Against Bush, Vol. 1 $2.40 All products are BRAND NEW and factory sealed. Fast shipping and 100% Satisfaction Guaranteed…. |
|
|
Obama Song $0.99 … |
|
|
WIPE OUT OBAMA-FUNNY TOILET PAPER-MADE IN THE USA!! $6.95 Wipe Out Obama Toilet Paper- Jumbo rolls with 450 sheets on each roll. He wiped up the Presidential election and now you can use him to wipe up your historical messes! Love him? Hate him? Either way… you’ll love this Barack Obama Funny Toilet Paper. Printed throughout the whole roll! Want to have Obama in your bathroom… YES YOU CAN have him in THE CAN!… |
|
|
Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker — White 8in X 9.2in $8.70 Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker White 8in X 9.2in When making your color choice please be aware that our decals do not have a background or background color at all. These are decals not stickers. . When applied all you will see is the outline as shown in the images. If the decal will be going on glass you will want to use a bright color like white… |
|
|
6in X 6.9in Black — Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker $6.35 Anti Obama 2012 One Big Ass Mistake Political Car Window Wall Laptop Decal Sticker — Black 6in X 6.9in When making your color choice please be aware that our decals do not have a background or background color at all. These are decals not stickers. . When applied all you will see is the outline as shown in the images. If the decal will be going on glass you will want to use a bright color like wh… |
|
|
Charlie Rose – Gaza/Al Hunt/Helen Suzman (January 5, 2009) $1.99 … |
