12 Questions To Ask Yourself Before Taking On A Loan
- By
Julia Austin
Source: Rapeepong Puttakumwong / Getty
How does it fit into my monthly expenses?
This will be a new monthly payment that you’re locked into. Think of everything else in your budget between groceries, rent, car payments, health insurance, entertainment, your pet’s food…the list goes on and on. With this new payment occurring, will you still feel that you’re putting aside money at a comfortable rate? Will you have enough liquidity for an emergency? Do you need to cut back on some luxuries in order to make that happen since having emergency savings that are liquid is very important? Sit down and remake your budget, including this new monthly payment. Make sure you’re okay with what you see.
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