Understanding Money by Simone Janson

Author:Simone Janson
Language: deu
Format: epub
Publisher: Best of HR – Berufebilder.de®
Published: 2022-02-17T00:00:00+00:00

The alternative sources of money

Until a few years ago, it was quite common to look for alternative sources of money to reduce the amount of the building loan. Especially the own employer and close relatives were welcome as lenders. Of course, these are also loans. This means that the money from the boss or from close relatives must not be regarded as equity. Of course, you must also repay these loans with interest.

In principle, some employers are willing to lend to committed service providers or experts who are difficult to get on the job market. This is especially true when business is booming and the company is in a healthy economic condition. However, as an employee, you are in an additional dependency relationship with your boss. If you leave the company, you will have to repay the loan.

Particularly committed service providers or experts, who are rarely found on the job market, usually have very good cards for getting a loan from your employer, although experience shows that the willingness to do so decreases in economically difficult times. The employer hopes to bind the employee (i.e. borrower) more closely to the company. On the one hand, the employee should settle near the company, which usually reduces the willingness to change companies. Secondly, there is the obligation to repay the loan if the company leaves the company prematurely. In addition, the employer must use the market interest rate. If he escapes you too far, there can be trouble with the tax office. The Treasury may then demand taxation of the interest saved as a "monetary advantage," that is, as additional income.

Friendship usually ends when it comes to money. This is what you should keep in mind when accepting a relative loan. It works similarly to the employer loan mentioned. You receive money on particularly favorable terms, and the lender is satisfied with subordinate protection in the land register. This is important insofar as the financing bank insists on first-class protection in the land register.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.