When you need to find the best loan for exactly your finances, there is one concept that you need to keep an eye on.

When you need to find the best loan for exactly your finances, there is one concept that you need to keep an eye on.

When you need to find the best personal loan, it is not enough to look at the interest rate or the monthly benefit. Instead, there is another concept that is clearly the most important.

When you need to find the best personal loan, you need to find the loan that best suits your particular finances. That is, a loan where the price of the loan matches how much you can afford to pay, ”says Jasper Nicolsen, personal loan manager, Sir Freddie Plagon.

He calls for a special look at the APR of the loan, which he refers to as the “price of money”. YEAR means Annual Costs in Percentage and tells what it costs to have the loan annually as a percentage of the total loan amount.

APR is a very good concept when it comes to loans. It is your opportunity to compare different loans as long as they have the same loan amount and the same maturity. The loan with the lowest APR will in that case be the cheapest, ”says Jasper Nicolsen.

“In addition, it is also the concept that tells what the loan costs, including all costs,” he says.

Add a budget

Add a budget

Before you can even look at ÅOP, it is important that you know how much you can afford to spend on monthly service. Therefore, you must put a budget in advance.

“You need to make a detailed and clear budget for your monthly income and expenses so you know how much money is left to make on a loan. Make sure you don’t push the budget to the maximum, because it makes sense to have a little extra air in the budget, ”says Jasper Nicolsen.

How you get a good budget, you can see much more about here.

With a budget in place, you know how much you can deduct on a loan every month.