There are many things in life that cannot even be paid for. This is what young families, for example, are experiencing, who are currently setting up their first apartment together: up to now, the two partners have always gone separately with their dirty laundry to the nearby laundromat. For three family members, however, this is expensive and time-consuming. The simplest solution is to buy a washing machine, but the couple has to take out a loan. That is a sensible solution. Because when the loan is paid off, the family has a material value that will hopefully last a long time. It also saves expensive laundrette costs. And it can make good use of the time that the laundry is in the machine for other things.
If you replace the family with a company and the washing machine with an expensive system in a production line, you come to the same conclusion: resources are used more sensibly through the new acquisition. Ultimately, the loan helps to save or make a higher profit. Experts call such a loan “productive”.
Real estate loans can also be productive
Other examples of productive loans are, for example, loans to finance a degree. Statistically, academics are less likely to be unemployed and earn well. Such a loan is an investment in the future. A real estate loan can also be productive – if the purchase price of the house is reasonable, the location is right and the value of the house is continuously maintained.
If you tried to save the entire amount for a course of study or a house, you would probably have to start early and save for a long time. Before taking out a loan, however, it must be ensured that you can service the loan regularly and that it is adapted to your life situation. In the worst case, a loan that you cannot repay will drive you into personal bankruptcy.
Set realistic goals
For example, a loan is not productive if someone who urgently needs a car to drive to work every day chooses one that is unreasonably expensive. Or when the family takes out a loan to go on vacation, or when the company owner opts for a system whose capacities he can never use. If you need a loan, contact your Sparkasse advisor. Together with you, he calculates which loan amount is feasible for you.