Credit nowadays is a stumbling block for many people and many who have received different types of credit want to get rid of them as soon as possible and believe that after the loan repayment life will be completely different and there will be no need to save money.

Repay their Debt

Debt

In fact, although there will no longer be any credit payments, it will not mean that you will have unlimited financial resources and still have to save money, shrink its larger purchases and try to create a balanced budget. Here are some misconceptions that should be overridden so that it doesn’t happen that after the loan repayment everything is not so rosy and you fall into big debt again to fulfill all your desires and desires. I will never have to say “No” People who try to repay their debt think that after the loan is paid they will be able to spend money wherever they want and their budget will be virtually unlimited. But in fact, although you will have additional resources to spend, you will still have to think about how to spend that money and not be better off. If you have to pay every month, for example, 100 Euros, then you will have an extra 100 Euro after this loan repayment, which is enough to spend every month and get enough money to buy yourself some money, but the amount is definitely can’t go traveling or buy new electronics.

Money and finances

Money and finances

I will not have to make difficult financial decisions This idea is completely wrong, because basically while you have credit you always tried to repay them as soon as possible and all the free funds invested in repaying this loan. But when this credit is repaid you have suddenly a lot and a variety of options to do with your money, whether to invest it, or to spend, or to save and make these decisions will certainly not be easy. Therefore, you should not compete that after the loan repayment you will no longer have to make difficult decisions, as they will usually be even harder, but they may yield much more than just repaying the loan. I can sleep quietly at night If you are constantly worried about credits and debt and you are unable to sleep peacefully because you know how much money you owe.

Money-related disputes

Money-related disputes

Then when the loan is repaid, hardly that suddenly the worries about the money will disappear because you will have think about whether your investments are secure, whether you are getting enough of your old age and whether you have a sufficient reserve fund for situations where you may need unnecessary funds. Money and finances often give people headaches and stress, and while this area is serious, it should not pay so much attention and try to enjoy life more. No longer will you have to argue about money.

Loan Repayment

Loan Repayment

This idea is also quite wrong, because, although now you will not be so much pressure and you can breathe a little more, yet you will have to make difficult decisions where to put money and such decisions often lead to disputes . Money and finances are one of the main reasons why they are crossing out and just because they will no longer have to pay for loans does not mean that money-related disputes will magically end. I no longer need to create a budget People often think that budget and money counting are their punishment for taking a loan, but in reality it is the need of any responsible person, because without the incoming and outgoing funds it is impossible to know where your money stays.

Create a Budget

Create a Budget

And after the loan repayment, you will probably need to set a goal again and the budget will be one of the means to achieve this goal. We people are created to change the world and achieve our own set goals and therefore after the loan repayment you will have to continue to set goals and strive for them, otherwise your life will stand still and you will not see any progress.