Is It Best To Consolidate Debt With Loan -Songs-Takashinemoto.Com / Thu, 31 Oct 2019 01:02:37 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.3 Credit for tractor – secure cheap credit online now /credit-for-tractor-secure-cheap-credit-online-now/ /credit-for-tractor-secure-cheap-credit-online-now/#respond Thu, 31 Oct 2019 01:02:37 +0000 /credit-for-tractor-secure-cheap-credit-online-now/ Continue readingCredit for tractor – secure cheap credit online now]]>

In agriculture, you are extremely dependent on modern and functional tractors. With an instant loan, high-quality models can be financed without immediate, sensitive charges.

Tractors – indispensable in modern agriculture

Tractors - indispensable in modern agriculture

A farm without tractors? Unthinkable, these vehicles make all work processes easier and thus contribute to an effective increase in yield. It is all the more important that tractors are of high quality and functionality. However, a certain financial investment is of course necessary – money that not every farmer can easily shake out of his sleeve. Immediate loans offer the opportunity to acquire this essential component of any agriculture without any immediate financial burden.

What should you consider when looking for a loan?

What should you consider when looking for a loan?

It is therefore no wonder that the demand for such a form of credit has increased continuously in recent years. Thanks to this great interest, there are now a number of offers from a wide range of banks and credit institutions that offer instant loans for tractors. Known credit models are, for example, offers from Best-Bank. Countless interesting instant loans can also be found via the State Cream bank. However, you should carefully consider in advance what amount is needed and how high a monthly charge may be. Sufficient financial scope should always be left in the calculations in order to be prepared for various uncertainties.

Nothing works without a comparison

Nothing works without a comparison

Given the myriad of offers in this area, there are many different loan models. Some of these differ considerably in terms of individual conditions. Therefore, before signing a contract, a thorough and comprehensive comparison should be made between the various instant loans for a tractor. This primarily affects the points of the annual percentage rate and the respective terms. The additional costs, as well as the information and evidence required from the borrower, are also important. Only those who make a thorough and calm comparison can be sure that they will receive an optimal loan for a tractor and thus also be able to manage their agriculture successfully and without financial burdens.

Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.

Need money for tractors now? We are here to help you. You can always contact us and ask for our assistance. Get your documents and let us hear from you.

 

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5 Steps to Transfer Bank Mortgage /5-steps-to-transfer-bank-mortgage/ /5-steps-to-transfer-bank-mortgage/#respond Wed, 30 Oct 2019 01:17:16 +0000 /5-steps-to-transfer-bank-mortgage/ Continue reading5 Steps to Transfer Bank Mortgage]]>

As already mentioned, given the current spread war, if you have a spread of 2.5% or more, you can save a lot of money by transferring home loans. Then find out the 5 steps you need to take to transfer your home loan.

 

Analyze current credit characteristics

credit loan

Before you even make the decision to make the transfer, you should take a good look at the characteristics of your credit to see if it pays off or not. In making this analysis, pay particular attention not only to interest rate mode and spread, but also to the payment term. Given this date, make a fair comparison with all the offers on the market, as many financial institutions are currently spreading below 2%, so the transfer may indeed compensate you. To make this comparison, it is mainly based on the Annual Effective Rate (TAE), which represents the annual cost of credit and comprises all credit burdens.

 

Compare Credit Transfer Costs

Compare Credit Transfer Costs

As you look at the options you have, also consider the transfer costs you will have at each bank. Currently some banks assume these costs and do not need to pay anything for the transfer. If you have to assume the costs, be aware that they can be very significant and that you should always consider them to make the final decision. It should also be aware of the transfer fee rules, which state that costs can only be up to 0.5% of the value of the capital to be transferred, for variable rate credit, up to 2% for capital. of fixed rate loans.

 

Request credit transfer

Request credit transfer

Once you have thoroughly analyzed your situation and decided that you will transfer the credit, it is time to request the transfer. Then you must communicate your intention to the bank that you have chosen to transfer the credit to and submit all necessary documentation (ID, last IRS statement, last three pay slips, proof of address and IBAN …). After you submit this request and submit a proposal, you are given 30 days to reflect before committing to this new loan and can only accept it 7 days after its receipt.

Inform current bank

Inform current bank

Once you have approved the transfer you wish to make, you should inform the financial institution that currently holds your credit. You must issue this notice at least 10 days in advance and only after this time can your process proceed.

 

Finish the transfer

Finish the transfer

Finally, you must wait a maximum of 10 business days for the bank that has hired to complete the transfer. So that there are no delays and you can start enjoying the savings you will get, provide all the necessary information and documentation so that the bank begins the transfer as soon as possible.

 

In this process, sometimes the most difficult thing is to analyze the various proposals and find a credit transfer that will effectively save you money. Avoid mistakes and concerns by relying on the knowledge and experience of Goodright Credit experts. Talk to us today and see how you can save you from euros a year on your home loan.

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Credit for pilot training – compare now for free /credit-for-pilot-training-compare-now-for-free/ /credit-for-pilot-training-compare-now-for-free/#respond Mon, 28 Oct 2019 01:20:56 +0000 /credit-for-pilot-training-compare-now-for-free/ Continue readingCredit for pilot training – compare now for free]]>

The pilot training is one of the hardest that can be done. If you don’t invest every minute in learning here, the pilot’s license is still far. Financial stability is therefore a must, an instant loan for pilot training can help.

Pilot training is extremely strenuous and requires a lot of concentration and operational readiness. At the same time, the training salary is incredibly low. As a result, many trainees are dependent on external professions. For example, mini jobs, which take a lot of time and energy within the week. Pilot training requires that this force be invested exclusively in training. How can trainees help each other? A question that is justified because the test for the pilot’s license demands everything. However, there is a simple loan option that can be used. Namely the instant loan.

What can the instant loan offer?

What can the <a href=instant loan offer?” width=”640″ height=”440″ />

On the one hand, extremely favorable conditions. Interest rates that are well below the double-digit range. Likewise, an adjusted installment payment and the possibility to have the money paid out within two days. The procedure is carried out by post and the Internet. Since the creditworthiness of a trainee cannot be compared with the creditworthiness of a professional, special loans should be used that can be taken up despite the low creditworthiness. With a smaller loan amount this is not a problem. If, on the other hand, you are looking for a loan to finance the entire training, then a larger sum is required. Credit loans are suitable here.

How can the cheapest loan be found?

How can the cheapest loan be found?

It is not necessarily difficult to find a cheap loan, the trainee pays attention to the right time. Once the Cream Bank’s key interest rate is low, all credit institutions will follow suit. It can quickly happen that the interest rate is reduced by almost half. Characteristics that are important for taking out a loan. In addition, a comparison is the quickest way to find the cheapest interest rate. Comparisons can be carried out objectively and free of charge. Objectivity is an important indicator. Objectivity means that no credit provider is preferred, only the performance ratio is compared to the price ratio. So the best conditions to find a cheap tariff with a low interest rate and an adjusted installment payment.

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Fast and efficient borrowing – Loans /fast-and-efficient-borrowing-loans/ /fast-and-efficient-borrowing-loans/#respond Tue, 01 Oct 2019 07:37:59 +0000 /fast-and-efficient-borrowing-loans/ Continue readingFast and efficient borrowing – Loans]]>

Good credit has many characteristics. Perhaps the first of these is to make the process of borrowing itself as smooth as possible. As Oscar says, “let’s be expeditious, which is quick and effective.” Then let’s see what we need to do to get our credit quicker!

The first step is credit pre-qualification

The first step is credit pre-qualification

An inevitable opportunity ahead of us is a secure and quick credit pre-qualification. This is a process where we are asked for all the personal information we need when taking out a loan. No real estate yet. However, we know exactly how much credit we can borrow , how much credit we should choose.

In fact, these data are stored by banks for up to 6 months. This makes it absolutely clear that we are gaining time and gaining security.

 

The second step is the help of professionals

money loan

We recommend that you seek the help of professionals in both borrowing and real estate search. Consider the amount of experience and knowledge they have, which now drives the water to our mills. If someone hasn’t worked in the kitchen in their lifetime, we won’t send you in for a three-course lunch now. We ask for help, and remember, it won’t be more expensive for us to get a loan through a credit expert.

The third step, if possible, is to choose a consumer friendly loan

money loan

In short, you need to know about Qualified Consumer Loans that you have to meet the MNB’s stringent requirements in order to receive this certification. That is, only the best of the good deserve it. What is important to us now in terms of efficiency and speed is that there are a couple of criteria that apply to the speed of credit assessment. These are:

  • The payout deadline is 2 business days after the fulfillment of the payout conditions.
  • The credit assessment deadline is a maximum of 15 business days from the availability of the valuation.

In addition to being fast, it is definitely one of the cheap loans.

In summary, if you follow these 3 steps, you can be sure that everything will go smoothly. Contact us for more great ideas and tips! Good credit can also be improved. ?

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What is Good Finance and why do we pay well with it? /what-is-good-finance-and-why-do-we-pay-well-with-it/ /what-is-good-finance-and-why-do-we-pay-well-with-it/#respond Fri, 13 Sep 2019 08:30:46 +0000 /what-is-good-finance-and-why-do-we-pay-well-with-it/ Continue readingWhat is Good Finance and why do we pay well with it?]]>

Win-win-win: that means everyone wins, the consumer, the merchant and us, says Sean Cole, co-founder of Good Finance, while presenting to the Bank’s press the latest development of their company, Good Finance payment integrated with cash register software.

We can use the first Hungarian licensed e-money issuer mobile app instead of a bank account, as their wallet can receive and send traditional remittances very cheaply, while paying with it at more and more payment points or paying for our parking. We can even send money to other Good Finances for free.

Does this have anything to do with their name selection?

cash

Sean Cole: We chose it from about 100 names. Our goal was, on the one hand, to have something to do with microfinance. On the other hand, it should not be ugly in any language, have a free com domain ending, or be easy to describe and say. Finally, we chose Good Finance from a dozen names. By the way, not only is it a particle, but it is also a diamond grinding process, meaning value and small detail are included.

The owners include an American company. What do the Americans look for in Good Finance?

BT: The American investor is independent of Good Finance. Good Finance’s father is Alexander Kis, a business associate who saw me operating a chip card cash replacement system in the Netherlands 20 years ago. However, the idea had to wait until now, that is, until the regulation of e-money and financial service providers was in place. The American investor appeared a few years earlier. The owner of Good Finance. We did so because the ABC’s license required capital, which could easily provide. With the license, we have become an official payment service provider of e-money according to EU rules. This means that the money that customers spend on Good Finance wallets is neither us nor others, but not even the tax office. We are just like a small bank, we just can’t pay interest or lend.

Good Finance: At the launch of Orange Pay, they expressed great disappointment that the apple had voted for an outdated device, the bank card. Is it really so out of date to have a touch-based electronic payment service with 70,000 points of sale in Hungary, with 10 million bank cards in the pockets of Hungarian customers?

BT: Electronic payment today is not much more convenient than cash and you don’t know much, which smartphones in your pockets do. In addition, security is low and transaction fees are higher due to higher risk. Our goal was a payment ecosystem where the merchant and the buyer are well off. The customer comes in handy because his digital wallet is not only a simple cashier but also helps his life: he is both a secretary and an assistant, and even a friend. For example, at the touch of a button, I can tell you what I bought today. Your credit card can’t do that. (ed: however, banking mobile applications can view this at any time and internet banking is also suitable)

Bankcards aren’t really, but bankcard wallets will already know that.

cash

BT: That’s right, but for the merchant, it’s still not that good. In Good Finance, however, not only do I see my spending, but also Good Finance’s server, which sets up a profile of my spending and can help my life. For example, if I come down to Grund many times and drink a Tequila, say, when I’m in the neighborhood, that Grund is now in Tequila action. Good Finance helps the dealer reach customers to buy again.

This is what your credit card wallet will know, and there will be discounts in the area that are “just here, just here”.

BT: Indeed. But we know a lot more interesting things, like sending money to another Good Finance, for free.

 

BT: There are obviously many such solutions. However, we can offer merchants a terribly low fee and the credit card world is lagging behind. In addition, there is no interchange fee or transaction fee, so the merchant betting is free of charge for less than 1000 forints, but above that it only costs a fixed 50 forints, so what we drink here, a lemonade and a tea, costs them nothing.

The question is: what’s the income?

money

BT: If there are a lot of transactions, we ask for more such offers. However, even if the buyer drinks that particular Tequila, that is, who pays, the merchant still has to pay. The discount is provided by the merchant, so it is your heart’s right to decide the amount, but one thing is for sure: Only the relevant clientele in your area will receive the offer. Another benefit is that the merchant can reach his customer once he has bought it once, since he can send him a message through us, so he can actually use Good Finance as a loyalty system. This is impossible with a credit card. In fact, Good Finance also offers a free cashback service. In contrast to the plain POS terminal, our cash-integrated payment solution also records what the customer is buying.
We thought we were only asking money from our customers for what we paid for or value. Moving money is, in our opinion, no longer a value in itself, so it’s free. My personal principle is 100% marketing ROI, so pay only for the merchant who has revenue. We expect the dealers to promote Good Finance among themselves.

Will there be endless advertisements for free use?

BT: Definitely not. Just like Google ads, our system will select the ads you want to send, so only the best, most relevant offers will appear on the client’s screen.

How Long Can I Expand?

BT: We are now looking for a $ 1 million investment to start off big. We are a Hungarian company, but we only consider Hungary as a pilot, since our license issued by the ABC is for the whole of Europe. We do not yet know when and in which country we will first leave.

This is also true in the opposite case, so similar foreign companies may appear in Hungary. Not afraid of it?

BT: Competing in the startup world means that it makes sense for us to do it because, according to others, it can make money. From now on, the one who does the best marketing will win.

How many accept locations can I pay with Good Finance now?

cash

BT: We currently have almost 100 outlets, basically in Budapest. In addition, Good Finance can also be used at 6,000 parking machines, and our Android app has been rated the most by customers on national mobile payments. We have 4.4 for us, 3.9 for the next best and 2.4 for the worst.

What Makes Your Best?

BT: Just because it’s as simple as a tree wedge and it’s cheap because you don’t use SMS for notifications. I can see the details of my car immediately, if there is more, the GPS selects the zone when parking and at the touch of a button the parking starts. I see the ongoing parking and even the parking story. Otherwise, this is probably due to the very good customer service. In addition to their other responsibilities, this is done by two of our own colleagues, we consider clients as partners, and even do so, and if something goes wrong, the programmers are contacted immediately by the support team. This makes it very effective. It’s a philosophy for us, we don’t even want to outsource call management to a call center company, we’re building gradually. However, we have not yet talked about the benefits for private clients. You do not have to pay for purchase transactions and money transfers, there is no monthly fee and no transaction fee is payable for e-money transactions. In addition, the Good Finance Wallet can receive traditional bank transfers for free from any bank, and can even initiate a traditional bank transfer for up to $ 25,000 for a fixed $ 100, plus a 0.4% fee.

What does Good Finance need?

BT: First of all, you need a smartphone that is capable of Bluetooth 4.0, that is, it supports Bluetooth Low Energy. All smartphones released in the last 2 years or so already know this, so there are many more phones than NFC. Older models also offer QR code payment, which works as a backup. What’s more, all you need is an email address and one quick registration. The Good Finance wallet is now fully functional.

If I’m a trader, what do I need to join?

BT: Practically the same. The POS terminal has been bypassed because the infrastructure is there without it: you need an internet connection and a mobile device that any low-cost Android smartphone can match. In fact, it is now possible to incorporate the Good Finance acceptance capability into the cash register. The last of the specialized portals that Good Finance saw for the first time was live, so new to this development. But we’ll soon have a mobile terminal that just picks up the amount or connects it to the cash register if it doesn’t have a screen. Our in-store payment system is so simple that it can be integrated into the cash register within two to three days.

If I have my Good Finance portfolio, how do I upload it?

BT: For free transfer via wire transfer and cash at the Good Finance points of sale for $ 100. The latter will always be instant, while the transfer will only arrive on business days within 4 hours due to the operation of the system. We will also start debiting by credit card within 2 weeks, which will be available for a 1% fee as we will also be charged. We are also in the process of negotiating a cash deposit through an ATM network, an agreement has already been reached.

According to their website, you can open a Good Finance wallet anywhere in the world in 60 seconds, without any personal identification. How do you know this won’t be a money laundering?

BT: From the fact that in three cases we have to personally check the customer. With a deposit of HUF 650 thousand a year, with a payment of HUF 260 thousand a year and within Good Finance HUF 3.5 million a day. During this, we will believe the customer you entered during the registration process.

How are payment claims handled?

How are payment claims handled?

BT: E-money payment is closer to cash than cash, so it’s instant and irrevocable. This way, we will not handle payment claims either. And credit card abuse is not possible because all transactions and information in the app are password protected so no one else can pay on my behalf. Finally, our system is protected by bank-level security according to the PCI DSS standard, as we will soon be debiting credit card payments.

How many Good Finance wallets have been opened since their launch on June 1, 2014?

BT: We have more than 4,000 users and have issued over 10 million forints in e-money. The transaction record was the purchase of half a million notebooks, and the most exotic known usage so far was when retired aunts sent each other money in a multi-level marketing system. We also have a customer from Szeged who pays VAT to Good Finance from Good Finance.

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How Do I Know If We are in Financial Distress /how-do-i-know-if-we-are-in-financial-distress/ /how-do-i-know-if-we-are-in-financial-distress/#respond Sat, 07 Sep 2019 08:56:47 +0000 /how-do-i-know-if-we-are-in-financial-distress/ Continue readingHow Do I Know If We are in Financial Distress]]>

We regularly talk about the indebtedness of Canadians and Quebeckers in the news. This is a subject of great interest, discussion and concern. The latest polls show that Quebecers are 177% more debt than income. However, despite the abundance of information and statistics, it can be difficult to answer the question: “Am I too much in debt? “. I will try to help you answer this difficult question.

 

Do you pay your bills on time?

Do you pay your bills on time?

The first sign that you are in financial distress is that you have trouble paying your bills when they are due. This includes including making the minimum payment on your credit cards.

If you are frequently late on your payments or have to constantly borrow money to pay your debts, you are most likely in financial distress.

 

Is your debt ratio healthy?

Is your debt ratio healthy?

Then, a very good indicator for determining whether one is in a situation of over-indebtedness is to calculate one’s debt ratio. Also known as the debt ratio , this calculation makes it possible to know what part of our income (after taxes) we must devote to the repayment of its debts.

In the amount of debt repayment we normally include rent or mortgage, auto loan or lease, personal loans, lines of credit and credit cards.

A healthy debt ratio is below 30-35%. Beyond this ratio and you are financially fragile; that is, your debts are far too heavy in your budget.

I invite you to calculate your debt ratio using our calculator.

 

Do you have more assets than debts?

Do you have more assets than debts?

Although the debt ratio is a key indicator, it does not say everything. Statistics Canada is proposing a new indicator to measure financial distress more specifically. It is the ratio of debts to household assets.

In establishing your balance sheet, that is to say the list of your assets (house, car, RRSP, investments, etc.) and your liabilities (mortgage, car loan, personal loan, margins and credit cards, etc. .), you will have a better portrait of your financial situation.

Statistics Canada has shown that households whose debts represent more than 50% of their assets are more likely to make minimum payments. In fact, 16% of these households have defaulted in the last year.

 

Do you have a safety cushion?

safety credit

If an unexpected financial situation arose, would you be able to get through without having to use credit? For example, if your car required a major $ 1,000 repair, do you have that amount in a bank account?

All financial advisers agree: it is important to have a fund of emergency to alleviate the vagaries of life. There is no exact rule for determining the amount of the cushion, but generally at least one to three months salary is suggested. Moreover, this money should be liquid, that is to say easily accessible. It is not advisable to invest one’s emergency fund on the stock market because the price of the stock might just flicker as you need your money.

 

What if I am in financial distress?

credit problem

There are several solutions to solve his financial problems. We describe several of them on our Debt Solutions page.

In any case, and no matter the reason for your financial problems, you can contact us for a free, no-obligation consultation so that a financial reorganization advisor can take the time to look at your situation. We can guide you to the best solution for your unique situation.

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Tips How To Improve Your Savings /tips-how-to-improve-your-savings/ /tips-how-to-improve-your-savings/#respond Thu, 15 Aug 2019 06:30:14 +0000 /tips-how-to-improve-your-savings/ Continue readingTips How To Improve Your Savings]]>

Saving money often seems like an impossible challenge. Maybe you could save a few extra dollars each month to deposit them in a savings account! But you wonder, “Will that really make a difference? Yes, a few extra dollars a month can eventually give you the opportunity to raise money for “hard days” or even to pay for a vacation. However, they will not make you rich.

But what if you put $ 1,000 in the bank in the coming year? Here are some ideas that will save you more than “three digits”.

 

First of all: start!

Put order in your budget.

Start saving, that’s the hardest part! If you do not have a savings account, find the one that does not require a minimum deposit. Put $ 5 in the account or more if you can afford it. You will feel more motivated if you actually start saving instead of just planning on paper without making real deposits.

 

Put order in your budget.

The next step is to tidy up your budget. You need to make sure that you cover all your expenses and then move on to the next step of reducing them.

 

Reduce your monthly expenses

Reduce your monthly expenses

You will find many possibilities to reduce your monthly expenses. Why not start with fixed bills? You might find a cheaper package for your cell phone, cancel a streaming video subscription or take steps to cut utility bills. Keep in mind that you need to save about $ 83 a month if you want $ 1,000 in your account at the end of the year. You’ll get there with this one step: reduce your subscriptions and your current bills.

 

Reduce other expenses

When you buy food and essentials, spend less than the amount you expect. Of course you can not do without food or personal items such as toilet paper or toothpaste. However, you will save by buying cheaper products or generic brands. If every time you shop, you reduce the amount of your purchases from $ 5 to $ 10, this will be a big part of the $ 83 a month you want to save.

 

Cut the superfluous

What about additional expenses?

Instead of buying your coffee in the restaurant every morning, you can prepare it at home. This small change will cost you a lot, a lot less. In the same way, consider bringing a meal to work that you have prepared yourself instead of having dinner outside every day.

 

What about additional expenses?

The unexpected will come to ruin your savings plans. Instead of using this money for emergency costs, consider getting a personal loan online. You will find it easy to get if you have a job and a bank account. Once accepted, the loan will pay for your unforeseen expenses. Then you will adjust your budget to repay the loan without affecting your savings. This will keep you on the path to achieving your ultimate goal of $ 100.

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Loans – Borrowing step by step /loans-borrowing-step-by-step/ /loans-borrowing-step-by-step/#respond Mon, 12 Aug 2019 08:24:01 +0000 /loans-borrowing-step-by-step/ Continue readingLoans – Borrowing step by step]]>

Because we can slip through so many places during a borrowing, we thought we were writing a schedule that, if followed closely, would minimize the risk of error. This, of course, means that we can move into the real estate of our dreams sooner . When you’re done, let’s get started!

Credit pre-qualification

bank

Already the moment we decide we want an apartment worth taking a bite out and make a credit pre-qualification. We provide our personal documents, proof of income, and bank forms. We do the same thing as asking for a loan for a particular property, except that there is no real estate. ?

However, what we are sure to know is how much credit we can borrow. This will make it easier for you to find real estate that meets your needs and get the right credit. Plus, these calculations will be accepted by the banks later, saving you time.

About real estate

bank

Finding the home of our dreams is the most difficult task. If this is the case, then we just have to write a good sales contract and send it to the bank . Attached to the appropriate bank forms, the income matters have already been settled. ?

From now on, all we have to do is wait for the credit assessment, an important part of which is valuing the property. If all goes well, we can go to the bank and we are just a step away from having the real estate we look for.

Note: The bank may ask for additional documents at any time during the credit assessment, although this is rarely the case.

Contract and disbursement

bank

Everything was okay and we could go to the bank to sign the loan agreement and the notarial deed. This also has a cost, remember! But we really got to the finish line. After signing the papers, our primary task is to go to the competent land office and arrange the mortgage registration. In addition, home insurance should also be assigned to the bank.

As these have been solved there’s really nothing else like it in wait 2-5 days until the bank paid us precisely the account of the seller of credit. And the move, the furnishing of the new home, could come.

Although described as simple, the process rarely happens in reality to say the truth. If you think, contact us and we will help you to overcome as few obstacles as you can!

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Finance your purchases through savings rather than loans | Payday Loans /finance-your-purchases-through-savings-rather-than-loans-payday-loans/ /finance-your-purchases-through-savings-rather-than-loans-payday-loans/#respond Mon, 29 Jul 2019 02:30:16 +0000 /finance-your-purchases-through-savings-rather-than-loans-payday-loans/ Continue readingFinance your purchases through savings rather than loans | Payday Loans]]>

There are many things we people want to be able to afford, which may be a little extra obvious ahead of Christmas when there is so much you want under the Christmas tree and on the Christmas table, etc. However, how you choose to get the things you want can vary. Two common alternatives, which are also the opposite of each other, are loans and savings.

Many people choose to either take out a loan or trade on credit 

money cash

In some cases, it is quite logical that you split the payment over a longer period and postpone it a little in the future, for example when you buy something that is more expensive such as a car or a home. However, doing the same thing with spirit things such as a trip, TV set or Christmas presents is often not the best option.

Every time you borrow money to buy something or if you buy in installment, you can expect that the thing you buy becomes a lot more expensive overall than if you had bought it in cash with your own money. This is because you have to put interest and other fees on top of the regular price of the product. The longer you take to repay the money, the more expensive it becomes overall.

Put the money away in advance or afterwards

 

If you buy something and choose to pay for it in a year, it means you have to expect to have one-twelfth of the purchase price, plus interest and fees, ready each month in addition to everything else you pay in bills, etc. You must budget for that cost over the next twelve months and know that you can afford it.

If you think that you had instead chosen to finance your purchase in another way – in other words by saving – you would have basically had a similar plan, only that you had instead spent this money the year before you bought the thing instead of the year after. The idea is that one year in advance you would have thought that if I save that and so much money for twelve months, I can afford what I want to buy.

You would then have spent some each month (roughly the same way you would have paid off your debt if you had purchased the item on credit) in a savings account or similar. The difference between saving in advance and paying on a credit in advance is that you do not have to pay interest and fees if you save the money together. There is quite a lot of money that you can save in that way.

You who save the money in advance do not have to pay interest and fees which makes what you buy more expensive. You can even get some return on your saved money in the form of interest on a savings account or how you have now chosen to save them. So you can go a little plus instead of walking very minus.

Make money from your savings pot

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If you are a little more daring, you can also invest your savings in something with a little more risk, such as funds or shares. Here it is always a trade-off, because such an investment also involves a certain risk of losing some money, and it is quite a bit if you have a plan to save for something specific and the savings pot becomes smaller rather than larger. At the same time, it can also (which is the hope) be so good that you make money on your investment and then you can reach your goal a little faster.

If you know a little about equities and funds (or other types of investment) then it is of course something you can test instead of just having the money lying in an account. You can manage your business at a bank or online broker, which is often smooth. For example, you can try IG Markets and shop on your mobile through their app. Of course, when it comes to investments of this kind, one has to be careful and not everyone fits. However, you can always choose the option that suits you best, whether it is speculating in commodities, buying some stable funds or whether it’s putting the money in a savings account without risk.

The saving method requires planning and structure

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If you only set up the alternatives in this way, it is quite obvious that it is better to save money in advance to buy what you want instead of borrowing money or shopping for credit and paying it off in advance. However, it may not be that simple. You have to plan more clearly if you are going to save for something, considering that you need to have come to know that you should buy these things long enough in advance that you can start saving and afford the purchase price.

It may not always be easy to have such a good look and plan what you want or need to buy today. Of course, it may be that something breaks, such as a refrigerator or freezer, and that you have to buy a new one at short notice. Then it is not easy to save for it for six months or a year, given that it is quite important to have a functioning refrigerator. In such cases it is good to have a buffer with some saved money to be used for emergencies and situations where you need money urgently or in case you lose income etc.

At the same time, there are also many things that can be saved. If you are looking to buy a new TV but do not have enough money in your account, you have options. You can either choose to borrow / buy the TV on installment or simply wait to buy it until you have saved the money. Sure, it’s a little more boring to have to wait six months or a year to get your new TV, if you choose saving as an alternative, but as it is said, it becomes cheaper and it is also a clearly safer alternative purely financially.

Christmas stands at the door now and many people borrow money or buy Christmas presents, etc. on credit, but Christmas is really a very good example of something that you can save for instead. You know it’s Christmas next year again and that you will have to buy Christmas presents, food and other things even then. Whatever it is for Christmas presents, you will have the use of money that you save during the year and put away for the Christmas trade.

If you could save money throughout the year so you could afford all the Christmas presents and other things you want, it is a great alternative to financing Christmas through loans and credits. If you were to spend exactly the same amount of money on Christmas presents and the entire choir, though, took out loans or traded on installments instead of saving money, it would cost a lot more. It would probably be possible to save thousands.

 

Credit always involves risk to your finances

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Saving money also means a much greater level of security for you and your finances. A loan is always a certain risk because you need to know that you can pay it off every month in the future. If you are unable to pay, then there will be a rapid interest rate, delay fees and other things that make it even more expensive and even more difficult to afford.

If you have had a bit of money and difficult to pay from the beginning, the risk is that it will be even more difficult and that it will be a kind of snowball effect where a missed payment leads to even more problems with the next payment, etc. There is always a risk of borrowing money, because even if you have a good financial right now, things can change. Income can decrease and unexpected expenses of other kinds can show up and ruin your plan.

If you choose to save money in advance for what you want to buy, you do not have that risk. You cannot spend more money than you actually have in the account and if you cannot afford yet you may continue to save another month until you have all the wages you need.

You can handle changes in your financial situation in a much better way

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Should you lose income while saving, you can only reduce the amount you spend or skip spending a month. You may have to wait an extra month before you can buy what you want, but that is life sometimes.

You can make a payment to your savings when you want, but you cannot skip a payment on your loan in the same way. The lender expects you to pay each month without interruption. Should one skip a payment, it may require extra fees and it is a rather tedious situation to be in.

In summary, you might say that it is a clear safer, safer and more responsible alternative to save for what you want in advance. It requires planning a bit and the downside is that you have to wait longer before you can buy the thing you want. Buying on credit is a greater risk and involves a greater cost. You may get your stuff right, but is it worth the extra risk and the extra costs? While it may sometimes be perfectly ok to buy something on credit, you should at least always ask yourself that question before making the decision.

 

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