Is it worth anticipating the 13th salary to pay off debts? The first installment of the thirteenth salary is paid until November 30 and the second installment until December 20. The banks, knowing this fact, offer a service called anticipation of the thirteenth salary, which allows customers to anticipate the value of the 13th salary, plus interest.
To help you choose the best option, BPC Finance answers these and other questions related to the 13th salary and payment of debts.
Anticipation of the 13th salary is worth it?
Does your bank offer the thirteenth salary earning service? If so, evaluate the conditions, such as interest, and consider waiting a little longer and using your own 13th salary to pay off your debts.
Now, if you have a debt in which interest is daily and grow quickly, as in the case of credit card and overdraft, the option may be valid, to stop paying sky high interest.
At this time, despite the need to adjust the accounts as soon as possible, evaluate other lines of credit, such as a personal payday loan, with more flexible installments.
Is paying the debt with the 13th salary the best choice?
The thirteenth salary, also known as “Christmas bonus,” is money that should be turned to year-end purchases or even for other expenses, such as a family trip.
However, it is no secret that many Brazilians are waiting for the 13th salary to pay their debts, but many still do not feel secure about this decision. At this time of year, promotions are at full throttle, which can add to the temptation with spending.
For those still in doubt about the best option, using the thirteenth to pay off debts is a smart choice and advised by experts in economics. This is because, by choosing to pay debts with the 13th salary, you have more chances to reach new plans.
Debt settlement not only alleviates headaches but also allows you to increase your credit score. And what does that mean? You are closer to realizing your dreams, like buying a car, financing a property, making a trip …
Which debt to pay first with the 13th salary?
Before taking the first step, look for credit protection agencies to stay on top of all your issues. Clarify all your debts updated, with the appropriate interest.
With the money of the 13th salary in “hands”, prioritize the payment of the highest debts, that is, those with the highest interest.
To get easier, think about getting out, first and foremost, of the debt that is turning a snowball. Look for the creditor company and try to make a deal by negotiating cash discounts.
13th salary is not enough to pay off all the debts, and now?
If the thirteenth salary is not enough to alleviate all its problems, the best thing to do is to say: prioritize the payment of the highest debts.
Now, to start the year in the blue, that is, without outstanding debts, you must negotiate with the creditor installments that fit in your pocket and do not weigh in the budget.
Of course, for this you will have to give up some of your monthly income, which could be spent on superfluous shopping and leisure.
End of year with debts? How to change this situation?
Getting to the end of the year with debts is more common than you think, because unforeseen events happen throughout the year.
The most important thing now is to put in the tip of the pencil all your outstanding debts and plan the payments.
Do not be afraid to clear your debts, however high they may be. Only then will you be able to see clearly the current scenario. Start!
No problem if everything can not be solved until the turn of the year. Think positive: “Today I have to pay my debts and cut expenses, but tomorrow I will be closer to realizing my dreams”.