Loans for retirees?On September 13, 2019 by Manuel Laforce
Are you retired but you lack the right amount of money for your home electronics / home appliances? See what loans are for pensioners.
For most people, retiring is not easy. Although we wait all our lives for a well-deserved rest after many years of work, the reality turns out to be brutal. We thought that eventually we would explore the world, buy a dream car, and in fact money is not enough for the proverbial first. Low retirement does not mean that our long-term dreams will not come true … So how do you cope with the lack of enough cash?
When does a pensioner lack money?
On average, Poles survive in retirement for 20 years. How is such a long period compared to the amount of benefits we receive every month? What counts above all is the type of work we have performed, seniority and the amount of remuneration and contributions deducted. Regardless of the amount of our pension, as a last resort, everyone will probably say that it could be higher.
Why such a belief? So far, we’ve spent 8 hours a day at work (some even more) – so we didn’t have so much opportunity to spend the earned salary. In retirement we have a lot of free time, also to get rid of money. While the average pensioner has enough cash for consumer spending, he can’t afford anything more – sometimes even medicine.
It’s not everything. Some say that life begins in retirement, so why not realize your innermost and biggest dreams at this time? A trip to the Grand Canyon to the USA, buying a vintage car or even buying a unique gift for a granddaughter’s wedding – do pensioners have to deny themselves these pleasures, just for such a prosaic reason as the lack of money? Of course not, that’s why we’ll suggest some solutions.
Loan with family / friends
Whenever we need money, it is worth thinking first about whether one of our loved ones could not borrow the amount we need. This form of borrowing money is convenient because we can arrange convenient debt repayment terms. In contrast to financial institutions, we do not have to worry about fines for exceeding the payment deadline (if, of course, we maintain a positive relationship with the lender) or troublesome reminders for debt.
However, not everyone has the option of borrowing money from someone in the family or from friends, so how do you deal with it? The option of taking a loan from one of the financial institutions should be considered.
Over the past few years, we have seen a significant increase in the number of banks in Poland. This is not only supported by the number of advertisements of banking institutions on television, but it is enough to walk around each city to notice that on each street in city centers there are usually several branches of different banks next to each other.
Banks tempt us with low interest rates and favorable contract terms. When deciding to take a loan from a bank, every pensioner must be aware that a number of documents will be needed. For many older people, completing them can be a big problem.
The bank will probably also want to know the purpose of the loan, and not all of us want to reveal why they want to borrow money. After all, it is not so easy to admit that we do not have money set aside for a granddaughter’s wedding present.
In the event of a difficult financial situation, we cannot always regularly repay the installment of a loan taken out in a bank, and this may end in a debt collection process and even bailiff proceedings. It is worth knowing what part of the pension may take the bailiff. We explain this in the entry Can a bailiff take the entire pension?
If a pensioner needs only a small injection of cash, because there is not enough for current expenses, the bank is not the best place to borrow money, because it usually does not grant loans for low amounts of 500 PLN. This is a good option if we need a higher amount.
Instantaneous cash injection
If we need to buy a prescription for a fairly large amount or we need a small amount of “life” for the next pension, we can opt for a payday payday. What is this type of loan really about?
The payday loan, as the name suggests, is a short-term loan, usually a month or two. Due to such a short repayment time, we must be sure that we will be able to settle our debt after the next retirement (otherwise we will be charged a fine).
The advantage of payday loans is the range of amounts that we can borrow, e.g. PLN 500, but also several thousand PLN. It is an ideal solution in such situations, when we want to improve the monthly budget.
Loan is also a very good solution when we need money immediately. All you have to do is complete the online application, and the decision to grant the loan and cash can appear on our account within 15 minutes after applying for the loan – so the procedure is much faster than at a bank.
Long-term loans online
It turns out that there are many opportunities that a pensioner in need of extra cash can take advantage of. However, what to do if you do not want to borrow money from the bank and you have to get cash as soon as possible and best so that you can repay the debt in several installments?
The only way out is long-term loans that you can take online. This form of borrowing money can be found on the website. By choosing the amount of the commitment and the number of installments, already during the first visit to the site, we can find out what interest rate we will be charged and how much the installment will be. It is also worth emphasizing that, unlike a banking institution, the decision to grant a loan is made very quickly and certainly many people will be surprised by the short waiting time for cash.