The ongoing financial crisis and uncertainty in the investment markets are one reason why more and more people are investing in “concrete gold”. The absolutely low interest rates for building money also cause people to buy property. But a few basic things should be considered right now so that the financing is on a sound long-term basis: The purchase price of the property should be ori...
It is difficult to understand today’s society without loans. There are many types of them and, although we usually think about money loans, the most common ones tend to go further and are related to objects that we use in our day to day: it can be the charger that you legend when you run out of battery, the car that your friend leaves you to go on vacation to the mountains or that jacket of your brother that suits you just as well or even better.
These cases have something in common: they all requested money from a lender who decided to trust that they would use the money correctly and that they would return it when the time came. And, if we ask how to lend money without risk, we must always start from the principles of responsible lending. Of course, we should not associate this responsibility exclusively with money loans, since any type of loan must be based on prior guarantees.
What is a Responsible Loan
So what is a responsible loan? Well, a responsible loan is one in which the two parties assume their respective responsibilities when reaching an agreement. For example, if a friend lends you a DIY tool, you must return it under the same conditions and within a reasonable period of time that you have agreed with him. Returning it late or in poor condition affects trust and does not help to give new loans. Instead, doing it on time will show that you are a responsible person who makes good use of what they lend you.
Likewise, if you wonder how to lend money to a family member, or if I can lend money to a friend, the first thing you should consider is the situation of the other person, and, if you finally decide to leave money, offer a reasonable amount and a term to return it that suits your circumstances. Exactly the same happens if you lend the car or your house in the mountains to a friend: so important is that he returns it to you in good condition as you lend it in the best possible conditions.
Our initiative of the Responsible Loan
In Fortunewise Credit we are defenders of personal loans, provided they are carried out in a responsible manner, since we believe in their enormous benefits for society and for those who practice it. Therefore, we want to celebrate with you all the week of the Responsibility, in order to raise awareness about the importance of personal loans, as long as they are managed responsibly, as they can promote such positive aspects as the promotion of the collaborative economy.
Thus, from Fortunewise Credit we are convinced of the importance of promoting responsible behavior when requesting and granting loans and, therefore, we want to propose the Responsible Loan initiative that we will develop in our Instagram social network.