Get out of the vicious circle of live payrolls pay with a personal loan

Image result for personal loanMany families, with the recession and economic changes in recent years, are overcoming many economic difficulties. With an unemployment rate of 7.2% in Canada, many face a rather gloomy economic outlook. Many people have had to resort to a second job, move to lower-cost housing, or return to school to get a better salary or a new job to get things moving. Unfortunately, many are falling into the trap of payday loans becoming easily accessible to all.

Payday loans are loans available to families in need of money until their next paycheck (these loans are often the only option for some with bad credit). In order to get a payday loan, the only information needed is the proof of income – usually your last pay check statement and a piece of identification. Payday loans do not ask for information about your credit and do not perform lengthy application processes, unlike banking institutions that ask for a credit check or other personal information. The process of a loan ranging from $ 500 to $ 1,500 is quick and immediate. The majority of payday loans have a two-week limit with the principle and interest payable fourteen days after the loan date.

Although the idea of ‚Äč‚Äčthese loans seems reasonable, the institutions offering them are anything but generous. Payday loans have incredibly high interest rates, many as high as 600%. Indeed, a loan of $ 1,000 would become $ 6,000 after one year of interest. Although the majority of these loans are for a two-week period, they still represent $ 230 more due to the balance of the loan. This amount is significant for families living one paycheck at a time, even mortal for those receiving checks insufficiently large in order to repay the loan. The latter are forced to take a larger loan to repay the first, forming a vicious circle of loans that can ruin financial stability and cost several thousand dollars at the end of the year.

Several solutions are available to people overcoming financial difficulties at the end of the month, including personal loans. These offer good solutions that can relieve temporary monetary problems. Unlike payday loans, personal loans offer much smaller interest rates that typically range between 4% and 8%. In addition, many of these loans can be done over longer periods of time, usually one year or more. So families and individuals have more time to save before having to repay the loan. For example, a one-year loan with an 8% interest rate increases by just over $ 43, compared to a $ 6,000 payday loan. Although many personal loans require a credit check, this is not the case for everyone.

Although many families want to avoid financial help, it is sometimes unavoidable to ask for help. Personal loans are a good option for those overcoming for the first time financial difficulties or for those caught in the vicious circle of payday loans. Offering smaller interest rates over a longer period of time, personal loans can be repaid with a schedule instead of immediately with high costs. If you find yourself in a situation where you are drowning in your finances and can not come to the surface on your own, consider personal loans and not payday loans.

How and how much can I deduct in health insurance in the IRPF of 2017

Image result for life insuranceWhere, how and how much can I deduct for my health insurance in the Income Statement of 2017 (IRPF)

Health insurance, in addition to all its advantages in the protection of our welfare and those we love the most, have some tax advantages that we must take into account in our Personal Income Tax (IRPF) declaration.

They do not apply to all taxpayers, it sometimes depends on the social security contribution system or the Autonomous Community in which you reside, but in any case there are many taxpayers that can benefit.


The most general case is that of self-employed workers who can deduct up to 500 euros as expenses for the amounts paid for health insurance, not only for their coverage, but also that of their spouse and children.

The first important point is that not all self-employed can apply this deduction only those who estimate their performance (earnings), by the regime of direct estimation and not by modules. In this scheme all profits are subtracted the expenses that have been incurred to achieve these results, but you can also add what is paid for the health policy up to this limit of 500 euros.

In addition, this amount is extended to 1,500 euros if any of the beneficiaries of the policy (holder, spouse or children), had a disability.

Deductions in different autonomous communities

The IRPF has two sections, one the State and another Autonomic that is part of the funding received by each autonomous community. This allows each autonomy to establish different tax rates on its stretch and also establish a series of deductions among which in some communities include health insurance.

In recent years the number of autonomous communities that apply deductions for health expenses has been reduced, however, for the 2017 income statement that we made in 2018 there are still two cases:



It establishes a deduction for quotas to mutuals or non-compulsory medical insurance companies of 5% of the amounts paid during the year, both of their own and of the persons included in the family minimum.

This deduction will have an annual limit of 200 euros in individual taxation and 300 euros in joint taxation. Both limits are increased by 100 euros in individual taxation when the taxpayer is a person with a disability, but always if their degree is higher than 65%. In the case of joint taxation, the increase will be 100 euros for each taxpayer with said disability.

To justify the right to deduction, it will be necessary to prove the same by means of an invoice and the payment by direct debit, transfer, deposit, check or credit or debit card.

Canary Islands

Canary Islands

The Canary Islands also provides a deduction of 10% of the expenses and professional fees paid during the tax period for the provision of services by those who have the status of medical or health professionals, except pharmaceutical, both their own and the persons included. in the family minimum.

This deduction has an annual limit of 500 euros in individual taxation and 700 euros in joint taxation. It also increases by 100 euros in individual taxation when the taxpayer proves a disability greater than 65%.

As in Cantabria, this expense must be credited with an invoice and any of the means of payment described, never in cash.