Advice on loans and money control
؟How to manage your money step by step
Do you think your salary disappears quickly before the month is over? 🤔 Don't worry, you are not alone ... Most meet the same challenge while talking about management of money.
The solution is not complex, but you have to start with simple, clear stages. So we have designed a practical guide called "Manage your money step by step" that will help you create a smart financial plan to control your expenses and help you achieve your goals.
:Plan financially intelligent
Financial goals indicate how you want to build your money for a specific period. Setting these goals helps you understand the value of money and encourage intelligent expenses.
Be sure to know when to plan for each goal. Are they small, medium or long -term? Are they financial goals؟
Buy a house
Buy a car
Travel
Education plan for children
Know where you spend your money
Start making an expense plan to make your goals easier to achieve. Remember that your goal is not to reduce your budget, but to monitor your expenses. You learn the following:
؟ Where and how do you spend your money
؟ What is your monthly responsibility
؟ How much do you have left at the end of the month
Then review the list of your expenses and decide whether they are necessary or luxury items.
Start making an expense plan to make your goals easier to achieve. Remember that your goal is not to reduce your budget, but to monitor your expenses. You learn the following:
؟ Where and how do you spend your money
؟ What is your monthly responsibility
؟ How much do you have left at the end of the month
.Then review the list of your expenses and decide whether they are necessary or luxury items
Commitment is important
Often the goals are not achieved just because the efforts behind them were not serious. Having a plan alone does not guarantee success - if you want to reach your goals, you must be committed to each step .of that plan
:Always make sure your goals are smart goals
Special
Average
become
Realistic
Timed
Practical proposals to apply for funding
When applying for financing, remember these points so that smart and safe decisions can be made
Explain the purpose of the loan - know why you borrow.
Choose a repayment period that matches your financial abilities.
Identify your repayment sources so that you are convinced that you can complete installments.
Understand the repayment method and how it fits your cash flow.
Review all costs including profit margins, administration fees and commissions.
Consider the financing amount and make sure it matches both your needs and profitability in the bank.
Stay transparent and accurately while providing information in the application.
Read the contract carefully and make sure you get a copy, whether it is Arabic or in English.
Stick to your repayment program to protect your credit history.
If you are unsure of any step, contact the credit advisor.
