If you apply for a loan, the credit institution uses a household bill to calculate whether the customer could even pay the loan installments. But the borrower himself should also do a budget calculation for the loan beforehand. Based on this calculation, he will see whether his monthly household budget is sufficient for the loan installment. If the borrower is not yet sure how much he would like to apply for, a household bill will help.
Individual items of the budget statement
Based on the monthly net income, the cost of living for the family members – adults and children – who have to live on the net income are included. If there are already regular payment obligations such as for a loan, electricity bill, telephone costs or newspaper subscriptions, these will be deducted first. This is followed by the total rental costs or expenses that an owner also has to pay each month. And finally, monthly expenses for membership and savings contributions, insurance costs and other scheduled expenses are deducted.
With such a budget bill for a loan, you can also get an overview for yourself, which could give rise to various considerations. The best way to tell when it is getting tight and why. Where there are still potential savings is also clear after a few thoughts. Are the costs of living for the family a little high, or can a lot of money be saved with insurance policies through cheaper policies?
Flat-rate amounts for the cost of living
But the bank also prepares such a budget bill for the loan. The bank works with defined lump sums for the cost of living. For the first person living in the household concerned, 650-700 USD per month are accepted. For each additional member of the household, 200 USD must be deducted monthly. This means that, for example, a 4-person household needs at least $ 1,250 in living expenses. Very often, a customer request fails with the budget invoice for the loan, as the bottom line is that the bank has to determine a negative amount.