Most of us have a lot of paperwork on changing banks. That is why we stay with the old one, although we could have a current account at no charge elsewhere. But the so-called Mobility Code has been in place for several years, making it easier for you to switch to another bank. The new bank house also handles all the necessary papers for you, so you don’t have to go to the old bank at all.
Misuse of credit cards
A credit card is a useful helper if you use it correctly. You can borrow money for free for some time. However, if you exceed the grace period, you must start paying interest.
Poor quality fuse
Do you have a cheap insurance policy and do you think you have saved? As a result, you may get expensive. Other insurance can be a few ten crowns more expensive, but it covers more risks. Always wonder in which cases you are covered and what are the exceptions.
Ignorance of APRC
It is not good to compare loans only by interest. It is much better to look at the APRC, which is obligatory for all lenders. In addition to the interest, all APRs are included in the APRC.
So if you compare two loans, it is preferable to the lower APR. If you only focus on lower interest rates, you may overlook that you have to pay different fees.
The same product for years
We have different needs in every part of our lives and it is therefore necessary to keep the closed financial products under constant review. This will help you find out if they still meet your needs and make sure you don’t pay too much. For example, after the birth of children, it is appropriate for the breadwinner to increase their life insurance policy.
When an unexpected expense comes, some people have to go over or overdraft on the bill. But banks charge fees for unauthorized overdraft. So try to watch everything.
Forgetting exit fees
For savings products, companies attract zero entry fees. But make sure you check how much you will have to pay if you want to withdraw money early.
Inappropriate type of savings
Do you have extra money and need to save it? For example, you may be interested in a term deposit. You save money for 3 years and get an interesting interest.
But it would be a mistake to put all the savings there. What if you need them unexpectedly? It is better to share the money. You keep the part as a standby book in a savings account, from where you can withdraw it at any time, and put the rest in a more favorable product.