Debt Reduction

How to make the most of what you don’t throw at debt – boosting available funds with Iban Wallet

You know this already: the fastest way to get out of debt is to pay it full on. Whether you tackle your smallest debt or the one with the highest interest rate the reasoning is the same: give it all you’ve got and kill it quickly before it spreads.

However, there’s good argument to have some funds put aside for some unexpected circumstances. Some people may say that you are better off paying everything you can, and get into more debt if needed be, but that is assuming you are able to get easily into debt (and no one is sure of the rates you would be able to get even if you are).

So for those of you who believe in having some aside for a rainy day, the question stands: how can you make the most of it?

Have you considered investing

Bear with me for a bit, it’ll be worth it.

It can be a bit confusing to think about investments as you are making your way out of debt, but there are some good options out there that are available to you and don’t demand very much effort on your part.

One of them is Iban Wallet.   

Iban Wallet is a fintech (financial technology) company. This sector has been booming these last few years and present very interesting opportunities for people that couldn’t access these services before, as they were only within the reach of big companies or institutional investors.

In this case, they manage a digital, online marketplace for financial products, and for investments, you can access products that offer projected interest rates ranging from 2.5% to 6%. All this without commissions or service fees, only €/$1 required to start, and a balance that is updated on a daily basis.

Why can this be for me?

For one, it is very simple to get started and to use.

The registration process is very to the point, you just have to ensure that you read all requirements with attention so that you can make it all the way through without a snag. Pay particular attention to document requirements and quality.

The experience with the platform is also quite seamless and there are no hard choices to be made. No specific loans to select and no undecipherable financial jargon to confuse you. Your investment is managed by Iban Wallet’s team.

On the other hand, there is the matter of availability of funds. On a big part of investments, you are committed to have your funds invested for a certain amount of time to be able to request a withdrawal without penalties. And this kind of defeats the purpose of having some money aside for emergencies.

With Iban Wallet this doesn’t need to be an issue. With their Iban Account, you are not committed to any amount of time, and are able to request a withdrawal at any time. Be aware, however, that they do offer products with specific terms, and requesting a withdrawal before its time would result in a penalty (although it would only affect interest accrued in the meantime).

Sounds great! Can anyone get it?

While the requirements are super easy to fulfil, their operations are still not available everywhere around the globe, although their territory coverage is quite extensive. Be sure to check here if you are covered, always having in mind that the relevant criterion is nationality, and not country of residence.

Are you going to give it a try?

It can be a good solution for you to guard yourself against inflation, and they offer a flexible enough product that you may use without being concerned about any time penalties. And if you do decide to withdraw, you can come back at any time.

See it for yourself and report back, we’d love to hear from you!

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