Paying off the loan and being responsible. Normally this is something we do on monthly basis and a due to date is a day close to the end of the month. It is easier to pay it when salary arrives.
Money is what all people need. At least all people in any kind of modern society. Sometimes it is not enough to work and get salary. If we want to buy something and it costs too much then we need to take a loan or borrow money from somebody. It would be great if it was possible to buy everything but it is not easy to save money fast enough. That is why taking a loan might be needed.
And before doing that we must be sure that we are able to manage an installment plan. That plan helps us to understand how much and how often we are going to pay off. Normally this is something we do on monthly basis and a due to date is a day close to the end of the month. It is easier to pay it when salary arrives.
If we only borrow money from someone it can be experienced better because we do not pay interests. That is something perfect but it can be dangerous. Why? Well, borrowing money without any strict due to dates or binding agreement can lead to more relaxed situation and risk for conflicts. It is so because we know that we do not have to pay any delay fees or other fines. If we create a bad habit and repeat our delayed payments there is a huge risk for conflicts with person who borrowed us the money.
Can we pay off e.g 150.000 SEK in 2,5 years if we have a middle class income?
Yes it can be possible. Since money is a sensitive area it is very important to have good discipline when taking a loan or borrowing money. Good and careful planning is something we can benefit from. If we do have opportunity to pay more than planned we also have a good chance to get rid of a debt.
Finally, when everything is paid off we can easily say that we have done a good job. Not many people experience that they have paid of all debts and with time they must sell much of their property to avoid payment remarks.
So, being smart, responsible and having a good discipline in paying back are three important keys to stable and reliable financing.