Sharing Daily Discoveries About Personal Finance And Business Topics

Using Other People’s Established Rates

Yesterday I was talking to an old friend and one of the topics was how he was buying a condo with the intent of buying a house down the road. That brought up the topic about the monthly rates he would have to pay to the bank when it comes to borrowing money and as a result he could only afford a condo.

A lot of times what I see people do is to have say a family member who already has a good rate in place and do the transaction through them instead and as a result the rate will be lower. For example, a lot of younger people who purchase a vehicle would have the parents buy the insurance since they have been driving longer and have an established record that will require less money.

So, that’s one idea to save money as long as everyone has a good trust amongst each other.

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