Borrowing money is done quite massively in the Netherlands. This may involve small amounts, such as a few euros that you borrow from your sister for a while to pay for the parking garage, up to two-tonne or more- for the purchase of a house. Even when it concerns a loan to start your own business , the amount to be borrowed can increase significantly. It is important that you take into account that borrowing money always costs money. If you want to borrow wisely , then you do not borrow more money than you strictly need. It is also smart to pay off as quickly as possible, so that you pay as little interest as possible. You have to realize that in the case of a previous repayment, fines can be calculated. The amount of the fine serves to compensate for the loss of interest income on the part of the creditor, so that you, as a debtor, still have little to gain. However, if you have taken out a personal loan where no penalty is calculated and you can redeem earlier, it is wise to actually do this.
Anyone who has ever been on holiday to Turkey or Croatia knows that bargaining in these countries is the most normal thing in the world. By not immediately attacking, but instead with a counter offer to come, you can often get the desired good (many times) cheaper in hands. In our Dutch culture, however, negotiation is not so common: who is going to haggle on his washing machine, car or money loan? Yet negotiating your loan can be very rewarding if you dare to try it. Make sure you get well-prepared, for example because you can put a better bid (from the competitor) on the table. The lender, however, will only want to agree if the loan is also interesting from their side: with a small loan to replace your broken washing machine this will not be the case. However, if it concerns larger amounts, such as the loan for a house, a company or a boat, then you too are an interesting candidate for the lender and there may be room for maneuver.