All of us may sooner or later find ourselves in a situation where they need to borrow money. What to do in that case? Is it worth borrowing money from your immediate family?
We will try to answer these questions in this article. A loan from a family often seems like a natural choice, but contrary to appearances, it is not without flaws. On the other hand, a non-bank loan also brings additional benefits.
Disadvantages of family loans
First of all, you have to admit that you are in a difficult financial situation. There’s nothing wrong with it. However, some people do not want to add more worries to their loved ones, so they prefer to keep such information to themselves.
In other situations, on the other hand, people know that asking for a loan would involve complaining and criticizing. Many people may simply not feel comfortable when borrowing money from their family. All this means that borrowing money from a family is often not the best idea.
Why is it worth taking a loan yourself?
Let’s consider why you should take out a loan yourself. Contrary to appearances, this solution brings a number of advantages. Below are the most important of them.
When you take out a loan yourself, you become independent. This is especially true for young people who are just entering adult life. Of course, a convenient solution in this situation is borrowing money from the family, while a much more mature idea is to take out a loan yourself. In this way you develop positive habits. You know that you can count on yourself and learn to pay your debts on time.
Building a positive credit history
We wrote about it in one of the previous articles. Non-bank loans allow you to build a positive credit history. Thanks to this, if in the future you try to take a larger loan, e.g. for a house or flat, it will be much easier for you to apply for it.
Low cost of non-bank loans
Often, when you decide on a short-term non-bank loan, you do not risk high costs. Many companies for new customers have a promotion in which the first loan does not involve any costs – you can borrow several hundred zlotys and give back exactly the same. It is noteworthy that for short-term loans, the cost of the loan is usually low. If the situation that caused you to need money is unusual, then you probably do not have to worry about the costs, because they will range from a dozen to several dozen zlotys.
Of course, you must remember that there are various companies offering non-bank loans and if you use their services, read the terms and conditions carefully. If you decide on our offer, on the main page we present the conditions for obtaining the loan in a simple and transparent way.
Summary – is it worth borrowing from a family?
A lot depends on the situation you find yourself in. Of course, this is one of the safer solutions, but is it really the best? Deciding on a non-bank loan you incur small costs and the risk is also small. You just have to give back your money on time. By the way, you are building a positive credit history that will definitely be useful to you in the future. At the same time, you must make the final decision yourself. It is worth remembering that a family loan is not the only solution.