For a larger purchase, you have decided to apply for a loan. Now, good advice is expensive, because the range of lenders is large. You can find the way to the loan that suits you through Financial Expert. But until the money finds its way to you, the bank wants to first secure and determine whether you are also creditworthy. Often, the Bank’s statement about a negative budget statement – but what is it? Two questions are important: Did you, as a borrower in the past, get yourself into debt? The question clarifies the bank about the so-called credit reporting agencies, such as the Schufa, where it learns whether and how many loans you currently have, whether you once could not pay a rate or if you have an entry in the debtor directory. The second question asked by the bank is: Will you pay your installments reliably in the future? To do this, she draws up a so-called budget statement, in which she compares your regular expenses and receipts and checks whether you can pay the rates of the newly requested loan.
For household bills, correct information is mandatory
Generally speaking, the accounts are as follows: Housing costs, living expenses and existing loan commitments are deducted from your monthly income. The result should be positive and cover the rate of the targeted loan. The bank will receive the information for this invoice from your application form. Therefore, it is important that you provide your information as comprehensively and precisely as possible. This is also the basis for your Financial Expert consultant to choose the right loan for you. In addition, your information is true. Because the bank checks your data and compares you with your submitted documents. If there are any discrepancies, the offer must be re-examined. So, just list incomes that you can prove, and do not hide your actual expenses.
Almost every bank has its own budget
More specifically, however, the budgets of the different financial institutions are different. The differences already start with the creditable income. Some banks use the average, others the lowest net income – salary, wages or pensions. For some banks, income also includes child and parental benefits, but not others. Other income may also be income from sideline or rental income. In principle, all income must be demonstrable. On the other hand, on the expenditure side, banks set different lump-sum living expenses. The flat rates are supplemented by the installments of existing loans. Here is a tip from Financial Expert to improve your budget statement: If you have multiple loans and thus several installments to pay, a debt restructuring is advisable. This not only reduces your monthly cost of repaying credit, but also has a positive impact on your budget. It can not be said that the budget accounts are canceled on a case-by-case basis as they depend on both the credit institution and the applicant. However, if you have questions about the topic or your individual situation, you can confidently contact your advisor at Financial Expert.
Well prepared: make your own budget in advance
To give yourself an overview of your budget, you can compare your income and expenses. To do this, make a note of your income, such as salary, pension, child benefit, ancillary income, alimony, rental income, and form the sum. These cover your expenses, such as rent, ancillary costs for home ownership, private health insurance, life insurance, loan installments, building savings, vehicle finance / leasing, living expenses (food, clothing, healthcare, telecommunications, local transport, education, leisure, etc.), maintenance as a payment obligation , But this is just a rough calculation, because as mentioned above: Each bank calculates in their own way. A loan request at Financial Expert is worthwhile in any case, even with a negative budget statement – Make the comparison directly!