"Finanzen einfach erklärt" mit Daniel Jung Teil 5 - Kredite

Hey everyone! Welcome to another episode of Finanzen.Einfach.Erklärt in cooperation with the savings bank finance group Hessen-Thüringen. In this video series, it is about bringing you closer to finance in a simple way, preparing you for the topic of financial education. This video is about loans. I know, heavy costs, but we'll get through this. Let's go! What exactly is a loan? These are situations in life in which the saved money is no longer sufficient. Buying an apartment, getting married, studying, buying a car, or, or, or. Here you can take out a loan, i.e. borrow money from your financial institute. The person who gives the money is referred to as the lender. The person who takes out the loan is referred to as the lender or debtor. With a loan, interest is usually incurred. We have already clarified what interest is in the last video. If you want to take a look here again, just jump into the video. There are very different types of loans that can be used for different purposes. Let's start with the installment loan. An installment loan, or consumer loan or private loan, is a loan in which you borrow a sum and then pay it back in the same monthly rate. The interest rate for this is usually fixed. For example, you choose an installment loan for sensible purchases of all kinds. From the washing machine, to the kitchen, to the scooter. You already know the installment loan from my video on interest. Nevertheless, here again in a nutshell. The installment loan allows you to exceed your Giro account up to an agreed limit, i.e. to go into the minus. Up to the so-called installment limit, your financial institute provides you with the money. It does this against fees or interest that you have to pay. An installment loan can be practical if important invoices or long-term contracts occur and you no longer have any assets on your account. But you should really only use it in emergencies, because it is not always easy to get out of the minus again. Speaking of not getting out of the minus. If you take out a loan from a financial institute, your creditworthiness is always checked. This means whether you are able to pay. This can also happen, for example, if you are looking for a rental apartment and some landlords want to have this information. This check is carried out by the Schufa. In Germany, the data on your creditworthiness or creditworthiness is recorded by the Schufa Holding AG. And that by everyone who is registered in Germany. The abbreviation Schufa stands for Schutzgemeinschaft für allgemeine Kreditsicherung. There is a rating number, the General Schufa Score. It shows how reliably you have fulfilled financial obligations, such as electricity bills or credit card payments, and how likely it is to do so in the future. Or whether you have already received multiple warnings. It is therefore important, for example, not to take out a dispo credit too often and to pay back in time, as this can have an impact on your Schufa Score. A real estate loan, also known as construction financing, is a loan to build, buy or renovate a property. So if you plan to buy an apartment or a house later on, you will probably take out a real estate loan. There are often high amounts of money in the six-digit range. Therefore, the lender, e.g. the savings bank, often requires security. This is often the so-called mortgage. Again, a big word that can be explained quite simply. If you are in a miserable situation of not being able to use the real estate loan anymore, the Financial Institute can forcibly increase the property and retain the remaining amount. Another purpose-bound rate loan is the car loan. As the name suggests, it is bound to a car. So in case you don't want the dream house, but the dream car. If you are studying or want to do an apprenticeship and, for example, don't know how to finance your studies, there are other options besides the BAföG, e.g. the apprenticeship loan or the student loan. They have the advantage that they offer longer repayment periods. This way you can continue your education or start a degree without having to fear high interest rates and short deadlines. In addition to these purpose-bound loans, there is also the immediate loan. This is also a rate loan, but it is quickly approved and can even be completed online. This also means that you can quickly access the money. And now we come to a very important topic, 0% financing. You may have come across this option during an online purchase. This is a classic rate loan with a fixed running time and rate. However, without interest for the lender. What many do not know is that if you buy a product, e.g. a television, you actually close a loan at a credit institution through 0% financing, which cooperates with the dealer. You then have to pay the television at monthly rates at the credit institution without additional interest. But even if the rate is low, you run the risk of losing sight of the finances and slipping into the debt spiral. You will notice that this is a complex topic. There are many forms of loans. They can help you realize your plans, but it is important to use them responsibly and to consider the individual conditions. Just like when investing money, it is important to consider the following. What do I need the money for? For further education? A degree? For a home? When do I need the loan? And how quickly can I repay it? If you want to learn more about the topic of loans, you can make an appointment at your credit institution at any time. Or, of course, stop by the Sparkassen school service. Or at financen mit danieljung.de Stay tuned for the next and last video in this series, Finances Simply Explained. It is about the topic of debts. I look forward to seeing you. Ciao!