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Unvarnished: founders learned from these mistakes

"Founding is not a sprint, it's a marathon," they often say. Along with the highs, there are also many lows. Which they are and from which mistakes they could learn, founders reveal in the start-up podcast "ungeschont" of kfw bankengruppe.

Financing harder than expected

People who think about founding a start-up often believe that the first funds can be raised through business angels right away. This is what happened to dr. Kati ernst and kristine zeller, founders of ooia. They also thought:

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Be aware of prepayment penalties for early termination

If the student loan is terminated early, most lenders require a prepayment penalty during the fixed-interest period

When taking out a real estate loan, the borrower should not only look at the current conditions, but likewise at the contract conditions. Thus, in addition to the APR, the initial repayment and the fixed interest rate, other options sometimes play a role, such as a special repayment or an early redemption of the loan. In this context, the early repayment penalty may also be of greater importance.

Early dissolution of the real estate loan can be costly © joyfotoliakid, stock.adobe.com

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Preparing for a child does not start with a positive pregnancy test

Actually, one cannot prepare extensively enough for the first child. Just, why then many couples do not start until they are really in "other circumstances"?

Name. Room. Stroller. Home. Work. Money. Relationship. These terms cover only a small part of what fathers and mothers have to worry about when things get "serious". However, especially those who either work single-mindedly towards their first child or at least follow the maxim "if it happens, it happens" often make a capital mistake: they only start thinking seriously about all the really weighty issues when not only the pregnancy test shows the famous streak, but also the gynecologist confirms the matter. Why actually? And what can you prepare sensibly already in the "planning phase" without appearing desperate or rash to friends and family?? To all this the following article gives the answers.

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What you should know about the rental deposit in switzerland

Rental deposit Switzerland

Finally the search is over. Despite many competitors, you have won the bid for your dream property. Your future landlord will even already have the contract ready. But the quickly ruins your joy. To the first month's rent due, the rent deposit must also be paid in advance, three months' rent. You did not expect it at all. This payment is a considerable burden on the already strained moving budget. We inform you about everything you need to know about the rent deposit and possible alternatives that relieve your reserves. However, this information is no substitute for advice from an insurer, your house bank or a tax advisor.

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Tips for home financing

Many people are driven by the desire to own their own home. You want a house as a retreat for the family, an oasis of well-being and an investment for the future. However, building or buying a property does not always turn out to be easy. House financing, in particular, presents a challenge to the future owners. To master this, these tips will help you.

1. Equity as the basis for financing a house

When you finance a house, your equity plays an important role. Without sufficient own means a respectable financing of the desire real estate is not realizable. On average, as a homebuyer or builder, you should be able to pay 20 to 30 percent of the cost out of pocket. The basic amount is required, for example, by many credit institutions when granting a real estate loan.

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Tips if the income is not sufficient for the loan

The search for ways, if the income for the intended credit is not sufficient. The amount of the family income, as well as a – after deduction of costs – as safe as possible remaining, high household budget increases the chances of getting a loan approved by a bank, savings bank or intermediary.

Because nothing serves the lender in an unsecured loan so much as security as the monthly income.

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Tips for the credit application

Anyone who wants to apply for a loan on the internet can get a lot wrong when filling out the loan application, but of course they can also get a lot right. In some cases, small additional details and information, for example on the financial circumstances of the borrower, can already be decisive for the desired loan approval. The following article contains numerous tips for the correct filling out of a credit application and goes into it, which data and information for a positive credit decision can be particularly advantageous.

The correct indication of the income conditions

With the evaluation of a credit inquiry it depends after the data to the desired credit, above all on the income conditions specified by the borrower. The income situation must always be sufficient to demonstrate a debt service capability required by the bank, which is a basic prerequisite for loan approval. As a borrower, you should therefore know how to present your personal income situation in the best possible way, but of course truthfully. A common mistake is "forgetting" to include christmas and vacation bonuses, although this information can be very important for the credit rating.

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Solar thermal energy: function, costs, advantages

While photovoltaic systems are the talk of the town, solar thermal energy is still in the shadows. In the process, this form of solar system also helps property owners contribute to the energy transition and, ideally, save money along the way. Find out here how a solar thermal system converts solar radiation into heat, what you should consider when choosing one, and what costs you should expect to pay.

How does solar thermal work?

A solar thermal system is installed on the roof

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Rollover or follow-up financing?

Prolongation means that after the expiry of the fixed interest rate of the initial financing, the follow-up financing with the provider or. The bank continues, which already granted the first construction financing loan. As a rule, this can be done easily and quickly. In most cases, the borrower automatically receives an offer from the bank providing the initial financing to roll over the initial contract. You can then immediately sign or renegotiate, but also change the provider, because after the end of the term of the initial financing, there is no contractual obligation, which is why each of the borrowers can then freely choose the provider.

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