Utilizing Money Loan

In this day, I got an email from Miami. Now let's we read what she ask.

Hello U-A, my name is Eva, a private elementary school teacher in Miami. I need advice that I face now.
We plan to purchase a home, and to apply for credit cooperatives is US$ 45,000.

But, apparently because of the decisions in a hurry, we have to cancel the purchase, because there are factors that prevent us buying the house. We returned back as much as US$ 40,000.

The problem money can not be returned to the cooperative before one year. And for that we have to pay 1% interest each month. We suggest that the money like?

And what do you know about syariah? Is it good to deposit to syariah? We also need information on insurance education for our new daughter 1.5 years old. Thank you very much before.

Eva, Miami

Answer:

Eva, I'm happy to receive e-mail from you. If the loan is disbursed, there is sometimes a consequence of which these funds can not be directly paid before a certain time. How does not want to, you should find an alternative to using the money so that inflation does not eat, and less by interest on loans.

If your choice is syariah deposits, almost all syariah banks currently offers for the results is quite good. But unfortunately, not for the result 1% per month. That is, if you just sit only in deposits, the deposit for the results that you receive still less by interest on loans that are applied by cooperatives.

Other options at this point are invest stocks or mutual funds on the stock exchange. At this time share exchanges are very poor performance because of the effects of global financial crisis shock. Stock prices at the moment and are likely to fall below a reasonable price. So actually a good time to buy stock now, with the expectation that within 1 year the stock will rise again. But I should note that investment is very risky, so I suggest consulting with investment advisors before making this step.

Or, if you discount the salary for the loan installments this is not a problem for you too. Meaning, your cash flow is not disturbed by the existence of the loan discount, I think no one have money if you take advantage of it for something productive and more risky. So, just continue as normal loan agreement and does not need to return the funds.

Loans you can use to buy stocks or stock mutual funds as of the above suggestions, or used as business capital. So even if within one year that the value of your investment or business not to provide benefits which means you can still continue to pay the loan repayments from wages only. And, you can enjoy the results of investment or business within a little longer.

While for the education of your child, since it should be prepared early. However, insurance education is not the only way I Bu, there are many alternatives.

It is important; you have prepared a special fund for the education of children. For now, I recommend more than the unit link insurance education, as the unit value link is currently low as a share exchange is expected to rise so high in the next few years. Before taking the unit link insurance or education, do not forget to calculate in advance how much the need to fund your children's education. So when the time comes, the funds have been prepared in accordance with their needs.

So from me, do not hesitate to contact us again to discuss further.