The microlending as an alternative to the discovered
The data is so overwhelming that almost half of Spanish households suffer difficulties to make ends meet. This follows from a study published in the magazine magazinefix published by the Organization of Consumers and Users. Faced with this situation, some families choose to leave the bank account uncovered for a few days until the entry of the payroll, however, the uncovered bank interest can be up to 7 times more than the fees of a microloan.
Photograph of the Spanish family economy
Of course, not all households have the same problems in terms of economy. But it is true that in the last five years the situation has been compromised for a greater number of families. If in 2010 13% of households confessed having difficulties to conclude the month, five years later the figure grows to 56%.
In one of every five households, they recognize that expenses have increased, while salary income decreases. The situation is aggravated if children are added to the conjugal nucleus. Then almost half of these families admit to having economic difficulties, compared to 28% of the homes in which one or two people live.
Even reaching the end of the month, saving seems a difficult issue. From the survey carried out by the OCU, it can be deduced that only 10% of families can save more than 1,000 euros a year.
The problem of the discovered
Saving is not the biggest problem that the family economy can face. Recently it has been possible to listen to the morning radio shows that the tendency to live in rental houses is being increased to the point that a majority of respondents prefer rent to having to pay a mortgage.
The mortgage is in fact one of the causes of the family economy coming in overdraft or red numbers. To which the expenses charged on the credit card are added. Thus 25% of Spanish families admit having caused a shortage in the last year. Some families use the credit card to alleviate the situation, but others resign themselves to paying the interest to the banks, which in many cases exceed the interests of a microloan in seven.
Why ask for a microloan to avoid overdraft?
Leaving the account in red numbers means, depending on the entity, paying late interest up to 30%. Some reputable banks punish their clients with 30 euros for each day that the account is in red. Others prefer to impose high tax rates, amounting to more than 200 euros per year in bank charges that the average customer charges.
In hemibank, for example, requesting a microloan of 250 euros with a return period of 15 days entails a fee of 41 euros. The same discovered in a bank can come to assume the same amount as requested in interest.
Given this situation, it is normal that more and more families prefer to request a microloan rather than bear the interest and commissions of an overdraft in their bank account. With an added advantage to underline, and is that with microcredits such as the Advance Payment you know from the first moment how much you are going to pay and when, something that in a bank account is only known once the commission is charged to the account, with the added risk of entering the lists of defaulters or the entity’s blacklist, which can further aggravate the interests if the situation is repeated.
So remember, before leaving your account in the red, avoid the overdraft, count with hemibank, we do give you credit.