overdraft with a.i.b

dollyk

I use my overdraft of 2.000 everymonth.
What Id like to know is would I be better off getting a loan of 2.000
and leaving it sitting in my account as an overdraft.
We both get paid monthly so thats why I use it all the time.
I have no idea how much my overdraft cost me per year, Ive tried to work it out
but cant . So thanks if someone can advise.

dennyk

If you are constantly overdrawing your bank account, you really need to address your spending issues. A loan will just make things worse if you don't get your budget in order.
There's a lot of good budgeting advice out there; this is a decent enough primer. I've also found Reddit's Personal Finance forum to be helpful if you want to ask for more specific advice.

dollyk

tks Dennyk, I will look into those links.

Makood

Borrow €2000, pay off the overdraft and remove the facility, then pay off the loan in a few months.
Or if you are disciplined enough, reduce the o/d bit by bit until you are in the black again.