According to financial analyst Mark Goykhman, in some cases, you should avoid loans.
Publika.az informs that the expert has given important recommendations about the situations in which loans will be useful, and in which situations, on the contrary, they can only bring new problems.
The financier believes that it is necessary to apply for a loan only in extreme cases, in cases of vital importance.
The specialist noted in an interview with “Prime” publication that among such cases, the need for funds for treatment, which cannot be obtained free of charge, comes first. Or you may need a laptop to make money.
“At the same time, it should be understood with what funds the loan is intended. Therefore, it is advisable to apply for a loan in a situation where income growth is expected or stable. At the same time, the risk of losing your job should be minimal, as well as the current state of the economy – everything it is desirable to be good,” the financier said.
According to the expert, it is not recommended to take a loan for vacation, luxury goods and entertainment. In other words, debt can be avoided if you give up your goal.
“It should be noted that the amount of all loan payments should not exceed 40% of the total income. If the loan has already been granted, it is necessary to observe payment discipline – make monthly payments on time. Otherwise, costs in the form of fines and penalties can become an additional burden” , – added the economist at the end.
