Credit from 18 years? The big day has finally come. Your 18th Birthday. Maybe you are already 18 years old or soon to stay 18. Maybe you know someone who will soon blow 18 candles on your birthday cake, or rather drink up to the morning light, which is still more relevant to today’s young generation. Achieving adulthood is an incredibly exciting time, as there are really many exciting adventures in the youth that come into being in the ranks of adults. Perhaps not all young people feel it – at least not at the beginning.
Changes in life
At the age of 18, not everyone has been able to leave their parents’ homes, but in any case, life is changing rapidly. In this lifetime you can not only get driver driving, but also take decisions independently and take responsibility. 18 years old means not only new adventures but also new challenges. At the age of 18 there are some who receive support from their parents and others who have to deal with their own. At this age, there are typically young people who have never worked before, as well as young people, who have nothing else to do because they have to pay rent. No matter what your family situation is, one thing is clear: when you reach the age of 18, there are plenty of new opportunities.
That is why it is important to adjust your economic situation and understand the economic frames and expenses associated with the lifestyle of an 18-year-old young person. Not everything is as cheap as it used to be, because parents no longer provide as much financial support as ever. Perhaps that’s why it’s worth considering a loan if you don’t have enough funds in your bank account. It is in your youth that you have enough time and power to fulfill your dreams, unfortunately, at the same time, at this stage of life, you may face the greatest financial challenges. But financial hardship should not stop you from fulfilling your dreams, whatever your goal is to join a driving school, travel, go to festivals or buy your first car.
How to choose the right creditor?
Nowadays there are countless types of lenders and credits, which means that it can be all challenging to compare them all and find the best solution for your situation. Given that 18-year-olds usually have no experience with loans and borrowings, it may seem like an impossible mission to choose the right creditor. At the same time, it should be remembered that most credit institutions refuse to grant loans to persons under 20 or 21 years of age. Despite the fact that all persons of legal age have the right to apply for loans, each individual credit institution determines the age limits for its services, which it considers to be good.
Not all young people at the age of 18 are capable of self-financing financially, which may make it difficult to get a loan. Despite the fact that 18-year-olds make up a relatively small proportion of all borrowers, creditors consider the 18-year-olds to be a risk group borrowing irresponsibly and without the opportunity to repay the credit. At the age of 18, the choice between creditors is much smaller, but getting a loan is not impossible.
In all cases of credit granting, creditors assess the borrower’s income level, solvency, credit history and income level. These factors affect the willingness of creditors to take the risk of lending money to a particular person. A young person wishing to take a loan must be employed if you are not employed, then your chances of being approved to be able to take out a loan are much lower. In these cases, the last option is to get a loan in exchange for a pledge , for example by mortgaging your car .
Loans from 18
Obtaining a loan at the age of 18 is more difficult, but it is not impossible. In order to help you navigate through different types of credit and help you make the right decision on a loan, Tom Bagger offers you a comprehensive overview of your options.
In the following, you can read about the potential benefits that you can get by borrowing money at the age of 18 and how to find the most advantageous loan with the lowest interest rates. Everything is simpler than it seems to you, unless you collect information from the right channels.
Borrowing for a driving license
At the age of 18, there are many expenses and one of them is the driving school. A credit of 18 years can help you if you can’t afford to pay for a driving school right now. It is possible that the driving license is nothing you need right now, but it is very common that young people want to go to the driving school when they are 18 years old. Obtaining a driving license helps grow and become more responsible, which marks a truly unique stage in youth life. Driving on the wheel from a new age makes young people safer and more confident as they can get to know the roads efficiently and ultimately ensure road safety.
Pay the driver’s license independently
Not all parents have the opportunity to pay for their school for their children, and not all 18 year olds have the opportunity to cover their own expenses related to driving. If you are in a situation where you have to pay for your driving school expenses yourself, then you can consider your options for taking out a loan to cover expenses related to the driving school’s theoretical and practical training. The total cost of driving rights, depending on the number of driving lessons, should be between 600 and 1000 euros. If you do not have such a sum on your bank account, then it may take time for you to have enough money for driving school expenses, but you will be able to sit at the wheel much faster by borrowing the required amount.
Invest in your future
By getting the driver’s rights you get a chance to get yourself from point A to B much faster and more efficiently. A credit of 18 years can help you achieve this goal and get a driver’s license faster. Whether you need to go to and from school or work, investing in driving licenses is an investment in your future. Even if investing in driving school publications does not seem to be your first priority at this time, it is useful to consider how valuable it will be in the future when you have a full-time job, family and children.
Together it’s more fun
Attending a driving school, as well as attending theoretical and practical training for many, is completely new and frightening. Choosing a loan to cover the expenses of a driving school, you give yourself the opportunity to visit a driving school with your friends instead of doing it later, when your friends already have a driver’s pocket.
Borrow for easier everyday life
Being ‘adult’ is not always easy. If you still go to high school, you have just started college or started working, you know you have to count on a whole series of publications. You may be in a situation where you have to provide the means to pay for a mobile phone subscription, a monthly ticket for public transport or lunch at the school canteen.
Facilitates your monthly spending
Take advantage of a loan to ease your daily expenses and make it easier for you to ‘pull ends’ every month. Perhaps you are in a situation where you have more expenses than other young people at your age, or you just do not have enough time and energy to be able to combine training with work. Whatever the situation you are, you might find it helpful to have financial support to ease your daily worries.
Get extra pocket money
The last time in high school or the first steps in the university are always high. So many activities are organized so actively to help students get to know the environment of the institution, the organization of learning and the life of the students. Events, study tours and excursions that have to be paid for by themselves. If you are one of those people who have faced financial challenges in all the current editions, then remember that this does not mean that you should miss all the tempting opportunities. In such cases, it is useful to consider borrowing so that you should not miss the opportunity to entertain and educate with your class or study members.
Books, stationery and computers are expensive
Each new school year or semester implies the need to acquire new teaching mattresses that are necessary for you to be able to fully focus on learning and to succeed in further education. In many higher education institutions, a personal computer is not just a necessity, but a requirement that again means new spending. The time has come when it was only possible to use pens and pens to participate fully in the training. All of these expenses, which include study mattresses, stationery and electronics, are expensive, but they are particularly expensive at the age of 18, when financial stability is not a familiar concept for everyone. If it is not possible to deal with all the needs with your own efforts and with family support, then it is time to consider the possibilities of borrowing.
Borrow unforgettable adventures
As mentioned earlier, it is no secret that at the age of 18 there are many opportunities and temptations. One of them is the opportunity to freely plan their leisure activities. If you are not the biggest traveler personally and prefer to spend your holidays in Latvia, this does not mean that you do not need additional financial means to go on different adventures and engage in leisure activities with family and friends.
Provide unforgettable leisure time for yourself
There are many different ways to spend your free time. Regardless of your interests and passions, financial opportunities are often the way to make your dreams come true. This or your goal for this summer is to visit the biggest festivals in Latvia, go on a tent tour with friends or just visit friends who live in other cities. What is important is the fact that all these activities cost money. Of course, it is possible to plan activities that do not require much financial investment, but there are opportunities that are one-off and need to be caught as long as possible. Whether it is to see your favorite musician perform or to go on an unforgettable boat trip before classmates divorced, so everyone goes to study their own unity.
Do not depart from study trips
One of the most interesting ways in which higher education institutions offer to improve their students’ knowledge is through participation in study and exchange trips. These trips mean not only the opportunity to learn something new, but also the opportunity to get to know other students from abroad who are studying the same or similar. With these study trips, it is often possible to meet leaders from leading companies in your field. Study trips often include seminars and courses. Regardless of how interesting and unique these trips may seem, they should be able to finance themselves and this means that it is worth considering a loan to invest in your future.
One of the most popular ways to improve yourself is traveling. While traveling, we not only open up new horizons for ourselves, but we can also learn something new about ourselves and learn about other lands, their culture and history. The situations are different. There are people who choose to take a year-long break after graduation before entering college. Often, the goal of staying with this pause is to travel, improve yourself and decide which university to enter and which program to choose to achieve your professional goals.
Borrow for your personal purposes
Not all young people prioritize travel as their primary goal when they reach the age of 18. There are many whose first goal is to leave their parents’ homes and start their independent lives. Perhaps the reason for the expulsion is the choice of study in another city, and even if the move is not a goal, then you may need to invest in your first car. Whatever your goals and ambitions, you may be in a situation where you need a loan. The good news is that all individuals who have reached the age of 18 have all the right to stand for short-term and long-term loans. Each situation is analyzed separately and the size of the loan depends on several factors. These factors are your age, credit history, work situation, and so on. Most lenders evaluate your situation within a few minutes to a few hours.
Get into your apartment
If you have decided to start an independent life and move out of your parents’ home, you need to be aware that this is a huge decision that needs to consider several factors of financial nature. Have you calculated all the expenses? When planning a budget for the big step, remember that you not only have to think about rent, but also about utilities, spending on furniture, household appliances, and other expenses you may have forgotten. But don’t worry, Tom Bagger is here to help you solve these financial issues!
Invest in your first car
If you already have a car dealer, you might consider investing in your first car. Buying a car is not a pleasure, so consider a loan that would help you get to your first speed faster. You can spend more time buying the first car than you have planned. Don’t you want to wait, so you might be considering borrowing and Tom Bagger is here to help you with this process. With your own car, you can plan your day and course independently, because you will not need to borrow a car from parents or friends if necessary.
Tom Bagger will help you find the best deals on the best credit terms
Finding the right loan with the right conditions can seem cumbersome and almost impossible. The situation is not facilitated by the fact that many different creditors are available, each with its own conditions. The goal of Tom Bagger is to help you gain an overview of your needs and opportunities. The goal of Tom Bagger is to help you compare available credit institutions and loans and find the best solution for your particular situation.
Finding your next credit with Tom Bagger, the only thing you have to tell us is three simple things:
- How much money you want to borrow
- How long do you intend to give up
- Maximum interest rate for loan repayment
Use Tom Bagger to find the best credit and repayment terms is incredibly easy and fast. But most importantly – it’s 100% free. Borrow to fill bigger and smaller dreams, but remember to borrow prudently and consider your ability to repay your loans.