36 articles Tag money

Find Money You Might Not Even Know You Had!

MoneyWith the summer holidays just days away, a lot of us will be thinking about how we’re going to afford all of the days out and activities that we’ll be wanting to do with the kids. It would be nice to be able to do a different thing every single day, but with the best will in the world, that’s just not in the budget for most of us. There might be, however, some money hanging about that you didn’t even realise you had, and we’ve got some suggestions of how to find it:

Outstanding PPI?

It’s hard to believe that anyone could still have any outstanding PPI claims with all the reminders on TV, radio and in the papers, but there are still a whole bunch of people who still haven’t claimed. It’s a simple process that could see you entitled to hundreds, even thousands of pounds!

Old Accounts

If you’ve changed bank accounts over the years, there could still be accounts in your name, laying dormant, with money in them. Write to the bank who you were once with and ask for details of any old accounts and you could be in for a surprise windfall!

Premium Bonds

If you’ve got Premium Bonds and haven’t seen much of a return, you might actually be better off cashing them in for an injection of cash now, rather than hoping they’ll come up long term. If you are hoping to win the top prize you probably need to know that the odds of winning £1million are 1 in 35,926,766,878. So I wouldn’t count on a payday anytime soon.Even winning the lowest prize of £25 is a 1 in 24,500 chance!

Pension Plans

If you have a pension plan that you don’t pay into any more, it’s worth having a look at the terms, as some plans will allow you to release the funds early, before the term is up. Have a think about any plans you may have paid into and contact the companies to see if it’s possible to withdraw the money. a

Cash Around the House

This one might be slightly less lucrative, but still worth a try. Gather up any old purses, handbags, wallets and money boxes and pillage them to see if there’s any cash that you forgot about. My kids own about 20 money boxes each and have managed to gather together the cash for some desperately needed toy on more than one occasion!

Don’t forget, the PPI deadline is 29th August, so you’ll need to get your act together if you think you might be entitled to claim!

Are You Sitting on Hidden Treasure?

treasureUnless you’re one of those people who’s a sensible adult with a savings account or an emergency credit card, there’s a good chance that you’ll come to a point in your life where you need quick cash and struggle to find it. There are, however, a few raise to raise some funds and most of us have things in our houses which we no longer use but are of value to someone else. Here are some suggestions of things you could sell to make some cash:

Jewellery

While I’m not suggesting that you flog your family heirlooms, many of us have jewellery boxes full of outdated items that we basically never wear, and there’s never been a better time to recoup some of the value in your items. It’s simple to get cash for gold and you could get a decent amount if you sell enough of it.

 Art

I’ve watched enough Antiques Roadshow in my time to know that the most valuable art is often the smallest, most unassuming pieces which don’t look like much which are worth a small fortune! If you’ve got any paintings which look like they might be originals, have them evaluated by an expert to see if they’re worth anything.

Bags and Purses

Bags and purses hold a surprising amount of value if they’re designer pieces, or even if they’re just made from decent leather. Look on eBay or other selling apps to see what sort of items sell well and to get an idea of what sort of price you’re looking at, and then sell anything that you’re not likely to use again.

Retro Games Consoles

If you’re the sort of person who puts things away nicely and stores them in the loft, and you have retro games consoles squirrelled away, you could be sitting on a small fortune! Retro games consoles are incredibly collectable and the more games and accessories you have with them, the more the bundle will be worth.

Vinyl

A lot of vinyl isn’t worth much these days, purely because there’s only a limited amount of collectors left and the condition isn’t always great. There are, however, particular albums which are worth a LOT of money, especially if they’re ones which are printed on a special vinyl, like clear or coloured records. Go through your collection and see if you have any of the valuable ones.

5 Ways to Save Money Ahead of Summer

save moneyI don’t know about you, but for us, this always seems to be an expensive time of year. Between birthdays, holidays, needing to spruce up the garden and all the other expenses that pop up, I seem to be spending money hand over fist at the moment. Because of this, I’ve been thinking about ways to save, so that we’re not skint by the time summer is over, and these are some of the things I came up with:

Shop Around

Recently, we needed to buy a new tumble drier, because our ancient one wasn’t really up to the job anymore, and because it was a big purchase we decided to shop around to make sure we got the best price. There are sites to look up the cheapest prices in the UK for just about everything you want to buy, and we scoured these before making our purchase.

Check Your Tarrifs

This is a great time of year to make sure you’re not paying over the odds for all of your bills, including gas, electricity, mobile bills, internet and TV. Providing you’re not at the beginning of a new contract, there is often room to negotiate with your service providers and could find yourself saving a significant amount each month (I recently did this with our BT will and am saving almost £40 per month on that one bill!

Scrimp on Fuel

Do you take the car on unnecessary short journeys where it would actually be possible to walk instead? I know SO many people who drive when they could walk and they’d save loads across the course of the month if they left the car at home. There are also websites and apps which tell you which petrol stations nearby are the cheapest, allowing you to get the best value there, too.

Use What’s in the House

We’re naughty when it comes to food and tend to buy our meals on a day-to-day basis, but recently I decided that we were going to actually use up what was in the house. It meant a few days of slightly odd meals that you probably wouldn’t eat ordinarily, but it saved us from buying new stuff and helped make space in the cupboard and freezer for new shopping.

Check Your Subscriptions

I know so many people who subscribe to the full TV package and never watch the channels, or have services like Netflix, Disney Life or Amazon TV and rarely use them. Do a stock-take of all of your subscriptions, including newspapers and magazines, and ditch any that you barely use.

How do you save money?

How to Start an Emergency Fund from Scratch

The future is full of unknowns and many things can happen to us that are beyond our control. That also extends to our finances, so it’s wise to have an emergency fund to help cover unexpected expenses.

Are you prepared if you lose your job or get sick? What would you do in a natural disaster? If your car or household appliances break down, can you fix or replace them?

An emergency fund is an answer to all of these questions. But how do you get started from scratch? Our four tips will help …

1) Prioritize

To successfully build your emergency fund you need to make it a priority. It’s all too easy to skip putting money aside one week because you tell yourself that the likelihood of an emergency is low, but it’s that mentality that will leave you stranded when one occurs.

Choose a set amount to put aside and treat it as a necessity like the electric bill or paying rent. You could even set up an automated bank transfer from your checking account to a savings account so you stay committed.

Another trick is to formulate a budget that excludes your emergency savings from income. If you pretend you never had $20 every week, you won’t miss it. And such a small sum will grow to over $1,000 in one year!

2) Budget

 You can’t save efficiently without having a firm understanding of your finances. That’s why it’s so important to budget, and it really isn’t that difficult to do. Whether you use an app or a good old-fashioned pen and pad, note down all the money you have coming in each month and all the expenses you have going out.

This should include your salary or wages and any other regular income, and all the regular expenses such as your mortgage, rent, utilities, car payments etc. It is also wise to estimate more sporadic income and expenses (you an average this out if you keep track over several months). For example, going out to the movies and buying new clothing.

With your budget clear, you now know exactly how much money you have left over each month and can choose a realistic amount to put aside for emergencies.

3) Set the size of your Fund

Ideally, your emergency fund should be able to cover your basic living expenses for three to six months. This gives you plenty of time to find a new job if you lose it, get your health in order if it takes you out of work, and re-settle in the case of a natural disaster.

The pot will also be big enough to cover other emergency expenses that don’t directly impact your income or home situation.

Of course, everyone’s situation is different and you may have a particularly high and stable income, home equity, and a great credit rating – all of which decrease your odds of a financial emergency. In that case, you may set a lower amount for your emergency fund.

On the flipside, if you’re renting, just starting out in your career or do not have stable work, and you have poor credit or are nearing your credit limits, then it’s wise to build a larger emergency fund to fall back on.

Note: Your fund should always be full, so if you tap into it, remember to start saving again. You might even choose to jump ahead of your savings schedule by using guides like ‘how to make 500 dollars fast,’ to give your fund a quick refill.
4) Make it Work for You

 Having some cash on hand is always a good idea for emergencies, but you don’t want the bulk of your fund under the mattress. The best option is a savings account that gives you full access at any time. This way you will earn some interest to make saving easier and you’ll still be able to withdraw as much as you need at any time during an emergency.

You may decide to put a percentage of your fund in a less liquid account, such as a mutual fund or even physical precious metals like gold and silver. Diversifying is always wise (bank collapses do happen), but you want the bulk of your fund accessible on the day you need it.

By following this simple advice, you will be able to create an accessible insurance policy to protect you and your family from any and all financial emergencies.

 

5 Ways to Boost Your Finances in 2018

No matter what happened in 2017, a new year has begun. For many people, organising theirfinances will be a new year’s resolution. After all, Christmas is an expensive time of year and we can end up spending huge amounts of money over the festive season.

January can be a tough month for finance, but it doesn’t have to be. PPI claims, gathering unwanted gifts and reviewing your current account is all part of the plan to have a healthy bank balance in 2018.

It’s important to have some extra money to pay for financial emergencies and events throughout the year. Thankfully, there are some great ways to boost your finances this year — and these five ideas can all be done right now! So, why put off getting that cash boost?

  • Try a New Way of Saving

The website Apartment Therapy came up with a new way of saving in small amounts. It’s a simple, yet effective way for people to save money from the very first day of the year to the very last. It’s not too late to start either! It’ll be incredibly easy to get on schedule quickly if you start soon.

The idea is simple: For each day of the week, you save some money. You increase the amount saved each day, but when the week restarts, you start all over again. The amounts below are the recommendations about how much to set aside every day:

Sunday £1

Monday £2

Tuesday £3

Wednesday £4

Thursday £5

Friday £6

Saturday £7

When Sunday arrives, you start back at £1. This way of savings means you will have £28 a week, equating to nearly £1500 by the end of the year. Find a big piggy bank or set up a direct debit to a savings account and add £28 a week. You’ll be so grateful by the end of the year and taking it out in small amounts every week can make the saving that much easier.

  • Make a PPI Claim Today

The PPI deadline is getting ever closer. While we’ve all seen and heard the adverts about payment protection insurance claims, the reality is that there are still thousands of people who haven’t claimed PPI. Many consumers were unaware that PPI was sold to them alongside a mortgage, credit card or loan. It’s so important to check old bank statements and find out if you’re due a refund. It could well be thousands of pounds; a substantial amount to boost your 2018 finances. Even if you no longer have the paperwork, you can still find out if PPI was added to your account.  Make your PPI claim today before it’s too late!

  • Sell Unwanted Christmas Gifts

Are there still some Christmas gifts at home which you know you won’t ever get around to using? Those bath salts from your secret Santa might be lovely, but you’re not really a bath person. Selling unwanted Christmas gifts is an excellent way to make some extra money and make sure the gift doesn’t go to waste. Using eBay or even Facebook to sell gifts can be a good boost of income and is very simple.

  • Cash in on Gift Cards

Instead of presents, you may have received some gift cards for Christmas. Some of these can be really useful, but, if you got a gift card for a shop you rarely use, you can cash it in online. Websites such as Zeek will show you various options about how to get cash for your gift cards. Although you’ll never receive the full price, the cash can sometimes be much more worthwhile than the card.

  • Switch Current Accounts

Years ago, the thought of switching current accounts was too much effort. Now, however, thanks to the Current Account switch guarantee, changing current accounts is swift and easy. Most banks are signed up to the switching guarantee, making it a painless experience.

The best part about switching bank accounts is the great rates that banks offer to entice you. Rates do change regularly and there are terms and conditions, so be sure to check on websites such as Money Saving Expert for the best deal.

So, why put off getting some extra cash in 2018? Whether you’re possibly due a huge refund from PPI claims or can sell £50 worth of unwanted Christmas gifts, making use of these finance-boosting tips can make a huge difference. Start making money today!

How to Save Money Faster: Three Quick Tips

Having some money saved up is undoubtedly the key to better financial security, and for many people, saving up is essential for making big purchases such as a new house, new car, or a dream vacation. Whether you’re saving up for something specific or simply want the added security of knowing that you have some cash stashed away for emergencies, saving money regularly is an excellent habit to develop.

However, putting money aside is not always the easiest, especially if you are struggling with high living costs. Thankfully, there are several smart things that you can do to help your savings grow faster. We’ve rounded up some top tips for faster and more effective saving.

Tip #1. Choose a High-Interest Savings Account

If you’re looking for a new account in which to put your hard-earned savings, then it’s a good idea to choose an option with the highest amount of interest available. As you pay money into your savings account, you’ll also be able to earn money on it. And, the longer that the money is in there, the more you’ll be able to earn. A higher interest rate means better earnings for you.

Some accounts, such as stocks and bonds accounts, will require you to lock the money away for a certain period of time, during which you’ll be unable to access it. However, you will be rewarded with a higher interest rate when your account reaches maturity. Follow the link for more information on choosing the best savings account.

Tip #2. Sell Your Old Stuff

One great way to make some extra cash to put into your savings account is to go through your old belongings and see what you can sell. Chances are, you have items in your home that you no longer have any use for, such as old clothes and shoes, DVDs, gadgets, video games, books, and even essential household items. If you’ve upgraded something such as your television or smartphone, then don’t just simply throw the old one away – you can earn some cash back for it on sites such as eBay or Craigslist that can then be put into your savings account.

Tip #3. Cut Your Monthly Expenses

If you’d like to be able to put more money away into your savings account each month, then the first place to start is by cutting down as many monthly expenses as you can and putting the extra money that you save away instead. There are many different ways in which you can ensure that you are spending less each month.

For example, you can actually save thousands of dollars per year by switching to taking a packed lunch to work, or preparing your own coffee instead of going to Starbucks. Check out comparison sites to see if switching could drive down your utility bills, and call up your cell phone network provider to ask about moving on to a cheaper plan if you feel that you could manage just as well with fewer minutes or data.

If you liked these tips, please let us know!

 

Having Great Adventures While Travelling On A Budget

A Strategic Approach

Even if you’re in debt, you’ve got to go on a vacation every now and then. If you’re clever about it, you can do so without seriously compromising your payback strategy. You may always have that dream vacation to Australia on the backburner, but just because you can’t go Down Under, doesn’t mean you can’t have the same kind of adventure on a budget vacation.

One of your best bets in this regard is going to involve getting assistance from professionals who understand your situation, who can give you the proper information to help you inform your travel plans.

According to Debt Academy, “When you are overwhelmed and consumed with worry about debt, you need answers. And more than answers, you need solutions. Debt Academy is committed to helping everyone struggling with crippling debt so that you can hold your head high and not avoid another call from the ‘unknown number’.”

Once you have the right answers, you can ask some additional questions. As in something to the tune of: “Now that I’ve managed to consolidate my debt into a single monthly payment of $1,200, after expenses, I have $200 a month left over! What kind of vacation can I put together with $200?”

Possibilities

Well, with $200, you might be able to finance a weekend trip somewhere. But with $2,400, you might be able to spend a month in a fine locale and really get your emotional and psychological well being back where it should be. How can you turn $200 into $2,400? Well, in a word, save.

It’s hard to save money when you’ve got debt, but it’s not impossible. Perhaps establish a secondary revenue stream through the internet. Provided your wages aren’t affected, and you’ve just got debt, it’s possible to pay all your bills and save a little, too. It just involves cutting on creature comforts.

Take coffee and food at a chic coffee shop, for example. If you buy something from such a place daily, you’ll spend three dollars per visit at least, which is $1,095 over the course of a year. Instead, spend $95 on a Sam’s Club-sized tin of your favorite coffee and a machine, and save $1,000 for a vacation!

Once you’ve managed to secure a vacation “nest-egg”, however small, now it’s time to determine where you’ll go. You want to find areas where you can get the best amenities for the lowest price. Well, in some scenarios. Sometimes you may be interested in camping somewhere exotic. But if you’re going the resort angle, you may find some decent options.

Affordable Vacation Packages

You can find some great, affordable vacation deals on this website which offers some low rates. This is certainly worth looking into. As you’re researching potential areas where you might want to travel, you might also want to look for options that have similar discounts. Think of it like vacation “Big Lots”.

Are you familiar with “Big Lots”? Well, this is a department store that sells overstocked items and those which have been discontinued, but yet must be moved. You can get great discounts.

Sometimes you’ll get something at a quarter of its initial selling value. Sometimes with vacations, if you go to a resort town in the off-season, you can get some excellent rates. Additionally, there are sometimes rolling promotional packages during the “in” season as well. Whatever your budget, there are ways you can have the vacation you need on the budget you’ve got.

5 Tips To Deal With Financial Emergency

Have you ever found yourself in the middle of a financial emergency?

You may even be experiencing one at this moment; what can you do?

You’re not alone, over 76 million Americans struggle each year according to a survey from the Federal Reserve Bank.

There are lots of reasons and causes of financial stress. Whether you’re in the middle of a crisis, or want to help plan for the future, there are options available to get you back on your feet.

Here’s five tips on how to deal with a financial emergency:

1. Create a Budget

How do you get control of your finances? Spending less money sounds easier than it really is. Creating a budget (and sticking to it) can be a great tool for spending less, and saving more. Here are some tips for creating a budget.

  • Track your weekly spending. If you use a debit or credit card, you can see where your money is going each week. Small purchases like a morning coffee or fast food can add up over time.

  • Divide expenses into categories. Some examples can be entertainment, eating out, groceries, bills etc.

  • Set money aside for an emergency fund. Even a small amount saved overtime will add up when you need extra funds for a crisis.

  • Gradually cut down expenses. Instead of cutting out restaurants entirely, limit yourself to once or twice a week.

If you need additional assistance in creating a budget, take a look at this article from US News.

2. Cut Expenses

Cutting expenses can be another option to take during a financial emergency.

Spending less money in just a few areas can provide relief.

Here’s some tips for reducing your monthly expenses:

  • Save money on transportation. One option can be to carpool to work with your friends. By alternating days with your coworkers, you can save on gas, reduce wear and tear on the car, and in some cities, make use of carpool lanes.

  • Reduce entertainment expenses. Do you have cable for watching your favorite shows? Switching to a streaming service like Hulu or Netflix can be a cheaper option. Some of the networks also stream episodes for free on their website as well.

  • Cancel unused memberships. How often do you go to the gym that you pay for each month? If you only go once a week, it may be a cheaper option to find a gym to pay per use.

For other tips on saving money by reducing expenses, Trent Hamm has written up 40 ways to save on monthly expenses.

3. Prioritize Your Expenses

Are your bills overwhelming you?

A financial crisis can make it hard to follow your budget. It’s important to be pay your monthly bills, but sometimes this is impossible.

Here are some tips on how you can prioritize your expenses and get through the crisis:

  • Make a list of all monthly expenses. Listing them out gives you a clear picture of how much money you’re spending each month.

  • Figure out which expenses you have to pay. Once you have your list, you can mark which ones have to be paid first. Groceries and your rent/mortgage should be at the top of your list. Most utility companies will give you extra time to pay bills so that you can prioritize the more urgent bills.

  • Contact your creditors. Late payments can damage your credit, and ignoring the problem will make it worse. Most creditors will let you set up a payment plan or allow an extension.

For additional tools on prioritizing your expenses, visit the United Way’s article.

4. Reduce Your Debt

How many of you want to get rid of your debt? Even if you’re on a tight budget you can follow these tips to be debt free over time.

  • Create a budget. Once you write down everything that you spend money on each month, subtract that amount from your monthly take-home pay amount. Look for areas where you can cut back on to free up more cash.

  • Separate your debts from the budget list. Arrange your debts from smallest to largest. You will want to know what the minimum payments are for each of these debts.

  • Use money that you’ve freed up to start paying off the smallest debt. For all other debts you will want to maintain the minimum payment. Once you pay off the small debt you can use that money on the next loan repeating the process.

For more tips on reducing debt, take a look at the Huffington Post article from Tiffany Allche.

5. Get Financial Help

What if you’ve exhausted all other options for managing a financial emergency?

Ideally you would have access to emergency funds that have been saved up over time for a situation like this, but if you’re currently experiencing a hardship, you need cash urgently.

An option would be to get a loan to help pay for bills, essentials for the household, and other needs during the emergency.

A traditional bank loan may not be an option. You may be asking, what can I do? A 30 day payday loan, like one from ElcLoans, can help you.

Used responsibly this can get you through an emergency until you’re back on your feet.

Conclusion

I hope that you found this information helpful.

Having a financial crisis can be a stressful time, but there are tools and resources available to help get you through the hard times.

Each of these tips are options that you can put into practice immediately.

Do you have any other tips that you would like to share?

If you found this article helpful, be sure to share it with your friends and family.

Ways To Save Money if You Run Your Own Business

Running a Small BusinessWith rising living and childcare costs, more people than ever seem to be looking at ways that they can work from home so that they can limit their expenditure and maximise their income. Starting a business and becoming self employed may seem daunting but there are a lot of advantages to flexible working and many people have huge success. Although it may seem like you’re spending more than you make when you first start, it’s all part of getting started, and we’ve got some tips on how you can save money as a small business owner.

Do Your Own Accounts

Unless your accounts are really complicated (which is unlikely in your first years as a small business) it’s actually really easy to do your accounts yourself online these days, which cuts the need for accountancy fees or an external payroll service. This could save you a lot of money in the long run and is also a great skill to have under your belt for the future.

Online Printing

If you need to use flyers or posters for promoting your business, using an online printing service like https://www.helloprint.co.uk/ could save you a small fortune. Their service is really easy to use, they offer free delivery on all products and they print on an incredibly diverse range of media – you could even print your company logo on a load of umbrellas!

Negotiate

Here in England, so many of us seem uncomfortable with the idea of bartering on prices but it’s common practice throughout almost the whole rest of the world! If you’re doing business with other people, never accept their first price as bartering could save you a lot of money. Many small businesses offer services as part payment for things too, so if you have a valuable skill you could offer this instead of cash.

Check Your Tarrifs

If you use your home as a place of business, check to see if there are better tariffs available for your energy costs, broadband supplier or telephone contract. Many companies offer special business rates, or even if there’s no money off, some companies will prioritise repairs if they’re for business users, so it could be worth a call to find out if it makes a difference.

Learn New Skills

If you’re looking to save money then taking a few courses could be an investment which saves you money in the long run and give you even more autonomy over how you want your business to run. Need to keep marketing costs low? Take a course in social media marketing and run your campaigns yourself. Need to save on accounting costs? Some companies like Sage offer day courses in small business accounts and payroll which will be a lot cheaper than years of services from an accountant or payroll person.

Luke from Caelum Communications said: “Having a quick and reliable internet connection is a basic essential for a running a business. Failover services and other installations are also great considerations for small and large businesses.”

Steps for Getting Your First Loan

Loan

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The days of walking into a bank, asking to see the manager and walking out approved for a big loan have long been over. You won’t be getting any type of loan from a creditor until you fill out an application and then have it approved. Secondly, all approved loan borrowers must have a way to pay their loans back. Even if you are applying for a student loan and don’t currently have a job, consider the fact that one day, when you have started to work in your new career and the money is rolling in, you will have to start paying the loan back. Here are the most important steps to follow for getting approved for a traditional bank loan as well as other options you have for getting a loan when the usual way doesn’t work.

Getting Established Before Applying for a Loan

Although loan applications can be reconsidered and looked at a second time, it is better for applicants to have their applications go through the first time that they apply. In order to have a bank approve your loan application, there are some minimum criteria that you have to meet. First, you have to be a UK resident in good standing and have a valid bank account. Sure, you can open a bank account the same day that you apply for a loan, but it’s better to have some history with your bank. Next, you have to work somewhere and again be established at your workplace. Imagine if banks approved loans for people who had just gotten jobs and bank accounts all the time. Most of those loans would likely end up being defaulted on.

Looking at Your Credit Rating

Credit is really important when you’re applying for a traditional bank loan. A solid credit rating is necessary to get approved for loans products like mortgages, and a little less important if you are looking for a personal loan. Either way, banks and lenders have different rules for the minimum credit ratings they’ll accept from borrowers. In short, if you want a traditional bank loan of any kind you need to have established credit and possibly a co-borrower. This is how young adults get into brand new cars although they’ve only been working at their jobs for less than a year. You can create credit if you don’t have any by establishing a credit card or getting some type of mobile phone plan. If you’ve got existing credit but it’s down in the dumps, work hard at building it back up because it’s going to be hard getting a traditional bank loan without at least a fair credit rating.

Filling Out the Bank Loan Application

Every piece of data that you include on your loan application needs to be accurate and completely up to date. If you change jobs and your income is lowered, you need to be upfront about where you work, even if you think it’ll hurt your chances for a bank loan approval. Your loan application needs to detail where you currently live, work, and you might also be asked to provide references. Basically, your bank loan application is supposed to help creditors validate that you are who you say you are and that all of your pertinent details are accurately reflected. Lenders aren’t particularly impressed when they catch applicants in outright lies, so try to ask for clarification when you need it instead of just guessing or writing down answers that you believe sound good.

Applying for Secured and Payday Loans

Traditional bank loans aren’t for everybody and they don’t meet every purpose. For example, if you want a mortgage or a new car you should absolutely start the money borrowing process with a well-regarded lender. In the case of consumers who want personal loans for emergency expenses, there are payday loans and secured loans such as logbook loans. These types of loans can be better for those who don’t have great credit history, but they also come with higher interest rates. Secured loans are secured on an asset such as a car, so be aware that you could lose your asset if you default on the loan repayments.

You can get a loan all on your own, with the assistance of a co-borrower, or via an alternative method just by understanding how to get prepared and fill out an application. Give potential creditors all of the information that they ask for during the application process to determine if you’re a good match for their financial products. It can take as little as five minutes and up to several weeks to hear by from a potential lender, but getting your first loan can be a really good step toward having a more bountiful financial future.