Among Mexicans, it is common for the last days of the fortnight or month to be more complicated. It is at that moment where we see ourselves in the painful need to borrow money from family, friends or a banking institution.
The problem is that if this act becomes a habit, in the long run, the amount of the debt will amount to exorbitant amounts impossible to manage. It is there when the problem begins to take away the sleep and the light at the end of the road seems that it will never arrive.
What to do when the money does not reach? As experts in finance, we suggest you make a thorough analysis of your income, expenses, and debts.
When making a punctual relationship, those leaks and holes that hurt your pocket and make the journey through the end of the fortnight will come to light, so you can plan a strategy to remedy problems.
Surely you will discover that these piquitos during the fortnight are unforeseen of the family; how are the purchase of materials for school, the purchase of new pants because the son tore at school or the small cravings that children have when they accompany you to the supermarket. How to say no, right?
The second possible cause of financial holes are the commissions you pay month after month. Either because you fell behind or because the payment scheme changed for some reason, in each payment you go 100, 200 or even 300 pesos that you had not contemplated.
If you think about it, that amount is the same amount you need to close the week. The change in the interest rate is a factor that often is not in our hands, that is why we always advise you to check the small letters of the credit contracts, so you can choose the most attractive scheme in the market.
On the other hand, the other great factor that hurts your pocket if you can control it and even avoid it. We refer to the commissions that are generated by falling behind with payments.
At this point it is important to avoid reproaches with oneself, there are times that we are so busy with work and family that the payment dates are passed to us. This happens to everyone.
The best thing is to get down to work and find smart solutions that adapt to our lifestyle. One of the solutions proposed by Credifiel is payroll loans, whose automatic collection method frees people from delays and, therefore, generates commissions.
What are the benefits or advantages of a payroll loan?
The main feature of payroll loans is that they are automatically charged for your payment, that is, it is deducted from your fortnight or month (the payments are adjusted to the payment method of the client).
Among the advantages of payroll, loans are the factor of “never late” because the collection is automatic. Can you imagine how much money you would have saved if you had chosen a payroll loan from the beginning? You also do not have to say for what you will use the money, in other words, it is free.
Who can ask for a payroll loan?
As you well know, our mission is to provide innovative financial solutions to the most underserved sectors of the country, so we have the form of payroll loans oriented to different profiles.
Next, we will tell you who can ask for a loan and what you will need at the time of requesting it.
Workers in the education sector. Credifiel offers the best agreements to employees who are part of the SNTE (National Union of Education Workers). The credit can be requested by phone or through our website.
The amount of the credit can be from 2 thousand up to 250 thousand pesos in a term of 12 and up to 28 months. The documentation you need is valid official identification, proof of current address, proof of income of the last 2 payroll receipts and a statement of account.
For those who work in any government institution, Credifiel has the perfect payroll loan with attractive conditions and advantages such as terms and fixed interest rates. The credit is approved in two days and can be used for any situation or inconvenience.
The requirements for the payroll loans are the basic ones, that is to say, to receive the salary in a payroll account or to count on a bank card, to have a working seniority of minimum one year and to have an age of between 18 and 70 years.
Retirees and pensioners through the IMSS can also request a payroll loan in a very simple way. Credifiel offers a plan for accessible payments so that the benefits are maximized.
The age limit to request it is 71 years and you only need your official identification, proof of address and proof of income.
The Nómina Credifiel program is also available to PEMEX employees who will enjoy great advantages such as interest and preferential payment terms. In a period of 48 hours, you will have a credit of up to 250 thousand pesos.
The ease with which the loan is granted is perfect when some type of inconvenience or problem arises without prior notice.
Remember that in all these cases, it is not necessary to say in what the money will be used. Once the loan from GADcapital is accepted, the funds will be transferred to the client’s account so that they are available at the time and in the manner that best suits them.
One of the most recurrent uses of the credits is to pay some debt that is causing problems. Although this act is totally convenient, it would be best if a loan were a tool to achieve a financial objective and not remedy any downturn.
What do you prefer, use a payroll loan to pay late interest or to go on vacation? The answer is obvious, right?
Another technique to pay your debts
In order for your payroll loan to be used in a pleasant way, it may be convenient to first put an end to the debts. There is a simple method to achieve this called snowball, which is to liquidate the credits based on the interest rate.
That is, you have to pay the debts of the highest rates and then move on to those with lower rates. Doing it in this order will cause the person’s income to gradually be released.
The other great secret of this technique is that you always have to pay a little more than the minimum, no matter how small the extra payment, it will help the debt to go down faster.
Perhaps the only factor against it is that it requires order and perseverance since this order must be followed until all the debts are paid and this can happen even in years. In order to have a precise relationship between advantages and disadvantages, they are listed below.
Advantages of paying with the “snowball” method
- An effective way to pay debts
- Does not affect the credit bureau
- Once the debts are settled, you can use the credits again with caution!
- It is easy to visualize because you only use an excel table with basic knowledge.
Disadvantages of this payment method
- It is a delayed method to pay debts
- It is tired at the beginning
- For some people, it can be complicated to understand and maintain
- It takes a lot of willpower, having credit available at hand and not using it even to pay other debts.
With this quick review of loans and financial strategies, you can make better decisions to get out of any kind of unexpected or reach a financial goal. Remember that at Credifiel we are always thinking of you and we offer you the best agreements in different types of credit.