There are many things we can enjoy and be proud of here in Denmark. Among other things, most of us are quite well placed financially, have fair wages and often good pension schemes. If we look at some of the other countries in the world that live in extreme poverty, we can quickly see that we have many excellent things here in our small country. But with prosperity comes also expenses. It can often be expensive to be a Dane, and that means that not everyone has an equally well-funded savings account for the small necessities or unforeseen expenses that may appear. We can all be hit by unforeseen obstacles in our economy – and where they hit the hardest, the places where the payments cannot be postponed.

If you puncture the car on the way to work, there are not many other options than having to change your tire . It can also be that suddenly there is more in the way of the car, which results in quite a high workshop bill. Or how about the family of children, where the washing machine suddenly breaks down? Or the student who has to use deposits for an apartment?

There are lots of things we can spend money on and some of the expenses are more necessary than others. But common to all of them is that we Danes have increasingly begun to finance them with consumer loans. And after the various loan providers have gradually realized that the Danes would like to borrow money to cover the unforeseen expenses – or maybe just sweeten their lives a little, more and more consumer loans have also come on the market. Consumer loans are very widespread here in Denmark, and one of the things that just makes us Danes into attractive customers for the loan providers is that we often basically have a good and healthy economy. This means that it is relatively risk-free for the providers to lend out the money, as they can be quite sure of getting them back. As a result, more and more providers have come in, and there are now plenty of opportunities to borrow money today.

But where there are opportunities, there is also confusion. It can often be difficult to assess which loan fits best into one’s economy and to one’s needs. And it is mostly the easiest to use an online loan calculator to compare several different offers. An example of this is the platform, where you quickly get an overview of different loan providers. You can see, for example, how long it takes to get the loan approved, what the least and the largest amount you can borrow, how old you should be and when the loan must be repaid.

The advantage of is that the page is made to give the Danes some better tools when they need to find the consumer loans that fit their situation. Therefore, it is clear and user-friendly to navigate around the page, and you get both the advantages and disadvantages of the loans explained. Where the economic affairs typically go wrong for the Danes, when it becomes too incomprehensible to compare offers. For example, if you are meeting at the bank to discuss finances, you typically have little chance of checking up on whether the bank’s offerings are now also the best you can get. Here it can be a really good support to lean on a loan calculator, and possibly also print out some of the proposals so that you have a better starting point for the meeting with your bank.

The advantage besides is that it collects several different types of loans, so that you can easily and clearly find the loan that suits you best – both in terms of the amount you have to borrow, but also in relation to how much you can afford to pay off. every month.

No matter what type of loan you are looking for, it is important to look at what the total repayment amount is. Another thing that is also important is whether the loan can be repaid before time. From time to time, the loan providers have the opportunity – and permission to charge you interest immediately. For example, if you borrow 10,000 to be repaid over one year, it may be that the interest rate runs up to DKK 2-3,000. So let’s assume that you get holiday pay, or are fortunate to get money back in tax, it can make good sense to redeem the loan, as you then avoid having to pay so much in interest. But sometimes the loan provider can put the interest on top of the loan immediately. This means that you actually pay off on the interest first, and only when you finish paying them will you start paying off the loan.

There is nothing wrong with the above method, and often it is to make it easier for all parties to manage. But if you intend to pay off your loan ahead of time, you can use to quickly get an overview of what it actually costs you to borrow and what terms there are to pay it back. Of course, if you do not intend to repay the loan before time, you do not have to worry about this. There you just have to look at the total repayment amount, as you can then more easily assess which loan is best for you.

There are many loan providers, and therefore there are many places you can compare them. I have highlighted , as they also have a good blog where you can get general tips for your finances, learn about how to save more, or maybe just save in everyday life. In this way, you can compare both consumer loans, but also get tips and advice on how you generally strengthen your finances. I hope that after reading this rather short speech, you feel more prepared to make the right decision about your consumer loan.