Six Tips for Applying for a Payday Loan

Life can curve balls at us which may leave us needing a bit of financial help from time to time. From sudden medical expenses for home and vehicle repairs, a short term or payday loan is often a quick and easy answer to life's little surprises. If you are considering applying online for short term loans, there are some tips that you should keep in mind to best guarantee your chances of not only getting approved, but being able to manage the loan.

Proof of Employment

The beauty of applying for a short term loan is that it is quick and seamless as long as you are properly prepared. Unlike applying for a loan from a financial institution, companies which offer short term loans have a quick application process which largely relies on one being able to have proof of employment. Some ways you may be able to prove your employment status include:

• Tax forms
• A signed letter from your employer 
• Providing your National Insurance number 

Having recent proof of income from your employer may also be acceptable as a sole piece of proof of employment. This would include items such as a pay stub from your place of employment. Ask the loan company if the length of time you have spent with the employer will have an impact on your application as well. Typically short term loan outfits will only lend money to individuals if they have been working at the same place of employment for 3 months or longer.

Understand what the Loan Is

Short term loans are significantly different than a long term loan. This should be well recognized and accepted before the application process. Ideally, this type of loan will only be used to tide someone over should they find themselves in an emergency situation before they receive their next pay check. 

Do Not Apply for Multiple Loans

Payday loans are quick and easy. Many will hear back within hours after the application process whether or not they have been approved. Even if you are well-intentioned and trying to improve your chances of being approved, apply at one loan location at a time.

These companies have the means available to track every single loan request you make. If they see that you have made multiple loan requests in a short period of time, they may think that you are:

a) Trying to scam them; or
b) Will receive so many loans that you will not be able to pay them back on time, if at all.

Avoid Start-up Fees

Any payday or short term loan company which charges its clients a start-up fee should be avoided at all costs. Legitimate loan providers do not require any fees from you. They receive payment by other means.

A payday loan is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday. The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Payday advance loans rely on the consumer having previous payroll and employment records. Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.

Be Honest about Your Finances

The best way to protect yourself when taking out this type of loan is to be honest. There may be some unattractive details about your past or current financial state which may cause a loan company to reconsider lending you money. But being honest will help keep you financially afloat rather than unexpectedly drowning in debt.

Top 5 Things to Consider Before Purchasing From a Catalogue on Finance

  

If you are like me you may be seeing an increase of brochures and catalogues in your mail box. It's that time of year again where the shiny pages are trying to lure you into making a purchase. Whether it's new furnishings, gardening, clothes or home decor it can be very alluring.

Shopping from catalogues from the comfort of your easy chair has always been a real treat for me and my family. It's something I look forward to every year.  

But before you get the shopping started let me give you 5 things to think about before making that purchase. 

Here's Why Retailers Keep Sending You Catalogs Sure. That definitely happens. But sometimes it's more like this. My colleague Cara Tallo sent an email that basically said, what's the deal with catalogs? And she attached a picture of all the shopping catalogs she received in a single day. So we ...

1. Give that Purchase a Hold and Think a Moment 

When you are paging through you catalogue you see a favorite item at a incredible price. Frequently you buy simply because the products are on sale or on a discount rate. So stop briefly and think through whether you actually require the item. If not, do not order. The mail order brochures or other companies flourish on individuals who make spontaneous purchasing choices.

2. Shipping and Handling Costs.

When purchasing your item check the fees for shipping and handling. See if they are fair and reasonable. Some companies over charge or charge a higher amount in error. 

Checking here can help you save money. Also if you are purchasing multiple items make sure you only pay for combined shipping. Some companies overcharge by shipping your items separately.  Today you can have your items shipped in many different ways. There is standard shipping and also expedited shipping. Of course, you pay extra for expedited shipping. It is an additional profit source for the business. 

If you are not in a hurry to receive your purchase then go for the standard shipping and save the money.  Some companies offer lower shipping rates than other companies. Only buy from the companies that offer low cost shipping or even free shipping.

3. Only Buy From Businesses That Have Good Customer Service.

Normally, your purchase from a catalogue should happen without any problem. It's only when your purchase is not delivered to you or ends up delivered in a damaged condition do you find out what type of customer service a company really has. 

  Contacting a business when something is wrong with your purchase can be a pleasure or a nightmare. Prior to making your purchase be sure the business believes the customer is first. Is their telephone support handled well? Can you receive free return shipping on your purchase? Can they be counted on to back up their goods with a guarantee of satisfaction? So check out and convince yourself about the business's qualifications prior to buying.

4. Purchase Now and Pay Later Plans

When purchasing on finance make sure you know what the real costs are. Many people do not understand that when purchasing on finance that you are paying an interest charge for paying for your item over time. Paying over time is a necessity if you do not have the money at the present time to pay for your item. Know the additional cost of financing is smart and will save you from any surprises later. When paying over time keep in mind that the length of time you are paying determines the total amount extra costs you will pay.

Paying for your item in one year costs less than paying for your item in three years. Many people pay over three years because the payments are smaller and more affordable in your budget. But this smaller payments means you are taking longer to pay and that means you are paying finance charges for a longer amount of time. This adds to the final cost of your purchase. Keep in mind that when order now and pay later on you will certainly wind up paying quite bit additional in interest charges. Depending upon the number of months you wish to stretch the payments the rate of interest differ.

If you select the longest time-frame of 36 months you will certainly wind up paying the greatest rate of interest.

Home Shopping Catalogs | Top Coupon Patch  Home Shopping Catalogs. Experts agree that shoppers will spend an unprecedented amount of money buying gifts online this holiday season. You can shop while about the go. In the past, there\'s a picture of going in to the ...

5. Products Might Not Be Exactly What You Believe They Are

Purchasing from catalogues has one downside from shopping in genuine shops. Because you can in fact see the item, touch it or feel it you need to picture specific aspects about the item. A trust worthy business will provide as much data as possible as well as provide you other information like size, shape and color and feel of the item. 

The mail-order carriers who are in for the quick dollar will certainly provide the products to look much better than it really is and you wind up purchasing and feeling dissatisfied. They might have a no questions asked returns policy however you might still wind up a little poorer as you cover the shipping and handling charges.

Shopping from catalogues can be a fun and money saving experience if done right. 

Cheap Ways to Advertise Your Business

The secret of running a successful business is promoting it the right way. Whatever you are aiming for; opening a new business; expanding your old one or just attracting more clientele, the trick is to advertise it in the right manner. 

Many people believe that good marketing demands a lot of money, but the actual truth is that it just needs a little money and a lot of creativity. Here we will try and list a couple good ways that you can promote your business and save money in the process!

Internet

The best way to promote just about anything nowadays is through internet. There are many ways to advertise your business this ways. For instance if you don’t have one, it could be handy to make a website. It doesn’t cost much and there is a high chance that you already know somebody who is willing to do it for free. 

Other things, like social media, Facebook, twitter, LinkedIn etc… are just a great way of promoting yourself and what you do. Also, don’t forget about e-mail marketing. It’s flexible and has a high impact. You use it to send newsletter, announce any new products, deals or discounts you’re organizing.

Newspaper and Magazines

Although people tend to think that this is a dying business since the internet was introduced, it’s actually far from the truth. The newspaper industry is still blooming and there are tons of people who get information only from the paper. 

The key is to try and get published somewhere that is connected with your line of business, otherwise you will miss your target audience. Try and contact the Editor of your local paper or send a letter to the Editorial section.

Networking

Probably one of the first things you need to learn when you are starting a business. Perhaps it sound easy and perhaps it doesn’t sound that important, but you would be amazed to learn how much this can affect your work. 

It’s not just about knowing enough people, it’s about getting to know even more people who can benefit you. A good idea is to write down or make a scheme of the people you know and to divide them in categories (friends and family, acquaintances…) The key here is not to take advantage of those people but to make a network of people who will try and help you in your line of work knowing you would return the favor.

Human Resources

This is something to keep in mind. It doesn’t matter how good of a business you are leading, or how good of a promotion you are doing, if you don’t know the proper way to communicate with your customers. 

The goal is to keep the old ones and attract new ones. You need to make them feel special and unique and to try and meet their every need. Have you heard of the expression ‘The customer is always right’? Keep that in mind. It’s not always easy to please everybody, but it’s essential if you want to run a successful business.

Event

A smart thing to do once in a while is to organize some kind of an event. Something like a one week discount or some special sales and similar. It’s good to make some promotion materials or even promotional gifts to treat your customers with care. 

It’s always a good idea to attract them with a concept of free samples or just small tokens of appreciation. Those kinds of things don’t cost much and it makes you seem like you really care for your clientele.

A creative mind, a couple of good ideas, little money and you are good to go. These are all promotional techniques you can use to advertise your business but still maintain at a low cost option. These examples show you that just with a little wit you can accomplish a lot. 

You don’t need big marketing campaigns or billboards; all you need is to be innovative and creative. Also, the key is to be kind, persistent and to never give up. You never know who you will meet on your ladder to success, so it’s better to choose your methods wisely!

First Time Buyer? 7 Things You Need To Know Before You Purchase A Home

Are you a first-time home buyer ready to get into the market? Between advice from friends or family, loans, closing costs and more, it can be overwhelming. Here are seven important things you need to know that can help alleviate your anxiety: 

Examine Your Credit

A poor credit score, or no established credit, can alter your home-ownership plans. Get a free credit report and read through it for errors. If you find any mistakes, contact the credit reporting bureau to ensure they are corrected. This can greatly affect the loan you may get. 

Collect Documentation

Gather pay stubs, W-2 forms, bank statements, filed income tax returns for the past two to three years, and any other documentation you may feel is necessary. Have them available to show to the lender. You may need to provide this paperwork to a few different people, so it's important to have them readily available. 

Pre-approval

Getting pre-approved for a mortgage is important when you are house hunting. Your current bank or local credit union, like Saginaw Medical Federal Credit Union, are good places to start your search. You can also search online to find lenders offering the best rates in your area. Applying to multiple lenders helps increase your chances of getting a loan approved at the best rate possible without having a negative impact on your credit score. 

Create Your budget

One of the most important steps is to establish your budget. It’s necessary to determine how much you plan to pay for your house. It is recommended that buyers spend no more than one third of their income on housing. Your monthly payment can also vary depending on how much you plan to use for a down payment. 

Find Out Closing Costs

Closing costs usually contain origination charges, settlement and title fees, taxes and items like homeowners' association fees and homeowners insurance. Sometimes, they are often higher than expected, so it's important to budget accordingly. 

Choose A Real Estate Agent

It is ideal to find and choose a real estate agent to assist you with the process. Utilize local ads or the internet to research and assemble a list of local agents and start finding out more about their experience. Look for realtors with a lot of experience, especially in the area and price range where you intend to buy. These realtors will be familiar with the current housing market and the history of the market in your preferred area, and they can help you distinguish between good and bad options.

Be Patient

First-time home buying is time-consuming and stressful. Many first-time home buyers become disheartened due to rising property prices and increasing interest rates. There's also chances that there may not be enough properties available that suit the buyers needs.

Taking important necessary steps before the home-buying process can save you time and money. It's important to do your research and talk to different professionals before you decide to make an offer on a home. These tips can help you to be prepared to buy your first home.

Related articles

• A Complete Guide to Refinancing Your Home Mortgage
• How to Differentiate the Rates
• Benefits Of VA Loans In GA
• Options for Down Payment Assistance

Why Refinancing your Home can be Beneficial to your Financial Health

When executed correctly, refinancing a home mortgage can save families significant amounts of money over many years by cutting sharply their interest expense. Of course, understanding if refinancing is the right path to take depends upon a borrower's specific situation. 

Generally speaking, refinance mortgage rates make sense when a family can reduce its interest costs enough to more than offset a new loan's settlement costs.

Closing Costs and Expenses

Refinancing a mortgage with an above market interest rate can yield instant benefits for your family's financial well-being. Refinancing too frequently or without consideration of associated settlement costs can have the opposite effect. 

Ideally, refinancing should be undertaken when it is abundantly clear that sufficient interest savings can be realized over the life of the loan. Other good reasons for refinancing include debt consolidation and the funding of important financial obligations such as a child's education or tax payments. 

These important things cannot be done by the average homeowner with most bank loans or credit products because the interest rates, terms and tax-treatment can never be so favorable.

Managing you Credit

If you are having problems with debt and bad credit, then this is another reason why you might want to refinance. However, this is kind of contingent upon whether or not you have been able to keep up on your mortgage payments. If you have, this helps improve your credit score. This might help you refinance into a loan with a much lower interest rates and decreased payments. 

Government Agency Mortgage Programs

Today, the U.S. government through the Department of Housing and Urban Development (HUD) provides the mortgage money market with significant amounts of liquidity with the goal of promoting home ownership. The government does this through two agencies, the FHA, and the VA (U.S. Department of Veterans Affairs). 

The mandate of the VA is to guarantee repayment of mortgage loans granted to U.S. service men and women. These loans are issued by qualified lenders such as Low VA Rates, one of the many lenders that active and retired members of the service rely on for VA home loan financing.

The Adjustable Rate Mortgage (ARM)

An adjustable rate mortgage may be exactly what your family needs if you plan to sell your house within in the next few years. ARM loans will commonly provide the borrower with a significantly lower start rate than what they currently have. 

If a new ARM loan's accumulated savings surpass the total closing costs by the time your house needs to sell, then refinancing with an ARM can be beneficial to your family's present financial position.

Fixed-Rate Mortgage

For some people refinancing into a fixed-rate mortgage is the better way to go. The reason for this, is that if you are already struggling financially, a fixed-rate mortgage takes away of any risk of your mortgage going up and making you more financially unstable. It will stay at the same rate the entire life of the mortgage.

Before refinancing your home, you must make sure that it is right for you. You only want to do it if it is actually going to save you money in the end. Refinancing without proper consideration of the long-term costs and effects can be an expensive mistake. 

So can cashing out home equity for the sake of financing consumer spending that does nothing to enhance one's personal balance sheet. On the other hand, saving tens of thousands of dollars over the life of a twenty or thirty-year loan by replacing it with a new loan makes all the sense in the world if it can be justified after examining the economics of the situation.

Looking Forward: Investments, Assets and Your Retirement

Planning for retirement is not something that should be put off to the last minute or after the company farewell party. There are many things to do shortly before you retire and some things you should start as soon as you enter the work force. It is not original, but it is never too early to start planning for your future.

Beginning At an Early Age

If you are just entering the work force and not making a whole lot of money, it is still not too early to get into the practice of savings. Decide to put five percent of your paycheck into savings. 

As your income grows, continue to save. Try not to touch it. This is the first step toward reaching the goal of having a comfortable and enjoyable retirement.

Take Advantage of Any Program Your Employer May Offer

If the company you work for offers a 401K plan, participate in it. Contribute as much as possible to the plan. Usually, there is an option of making taxable or tax deferred contributions. 

Tax deferred may give you a little more spending money when you first begin investing, but it is not going to be a big help regarding income taxes when you retire.

Open an IRA

The individual retirement account allows you to put a portion of your income in an account that will draw interest. The contributions are tax deferred. There is also the possibility of opening a Roth IRA. In this plan, the money you contribute is taxable. However, the money you earn will be tax-free when you withdraw it. 

Regardless of which plan you open, do not go to the nearest bank and take whatever fixed rate is being offered. Talk to a financial adviser or stockbroker and determine how the money can be invested to generate the best yield with a reasonable degree of security.

Looking Forward: Investments, Assets and Your Retirement

Planning for retirement is not something that should be put off to the last minute or after the company farewell party. 

There are many things to do shortly before you retire and some things you should start as soon as you enter the work force. It is not original, but it is never too early to start planning for your future.

Beginning At an Early Age

If you are just entering the work force and not making a whole lot of money, it is still not too early to get into the practice of savings. Decide to put five percent of your paycheck into savings. 

As your income grows, continue to save. Try not to touch it. This is the first step toward reaching the goal of having a comfortable and enjoyable retirement.

Take Advantage of Any Program Your Employer May Offer

If the company you work for offers a 401K plan, participate in it. Contribute as much as possible to the plan. Usually, there is an option of making taxable or tax deferred contributions. 

Tax deferred may give you a little more spending money when you first begin investing, but it is not going to be a big help regarding income taxes when you retire.

Open an IRA

The individual retirement account allows you to put a portion of your income in an account that will draw interest. The contributions are tax deferred. There is also the possibility of opening a Roth IRA. 

In this plan, the money you contribute is taxable. However, the money you earn will be tax-free when you withdraw it. Regardless of which plan you open, do not go to the nearest bank and take whatever fixed rate is being offered. 

Talk to a financial adviser or stockbroker and determine how the money can be invested to generate the best yield with a reasonable degree of security.

Buy Life Insurance

Term life insurance starts out cheap. However, the premium increases over time. If you outlive the term, you or survivors get nothing. If it was an employer's policy, and you change jobs, there will be no refund. 

You can buy a 20-year paid-up whole-life policy for a higher, but fixed, monthly premium. If married, purchase a policy for yourself and your spouse. If there is an early death, the benefits are tax-free and can cover funeral expenses and help with the mortgage payments.

Be Diligent

Check your investments at least every month. Talk to your financial adviser or broker to get their take on where the economy is heading. Do not invest all your funds in one stock or company. At any given time, some of your investments could be threatened by a change in the financial markets. It may be necessary to make some adjustments.

Simply stated, to plan for your future you have to invest money you are earning today. Social Security in some form will be around 40 years henceforth and probably longer. However, it will only cover a fraction of your expenses. Do not buy over your income. That BMW in the showroom looks great, but the Chevrolet will get you to work. 

Think about the things for which you are planning. Is it your own retirement? Are you saving for your children’s college education? Do you plan to move to an exotic island before you are 50? Prioritize and be reasonable in what you plan to do. Watch your investments. Communicate with your financial adviser on options that may develop. Do not depend on a company retirement plan. 

You may have several different jobs during your working career, and the retirement plan may not follow you. If a company pension comes your way, you are ahead of the game. However, if it disappears, you can still be in good financial shape if you start early in planning for the future.

Term life insurance starts out cheap. The premium increases over time. If you outlive the term, you or survivors get nothing. If it was an employer's policy, and you change jobs, there will be no refund. 

You can buy a 20-year paid-up whole-life policy for a higher, but fixed, monthly premium. If married, purchase a policy for yourself and your spouse. If there is an early death, the benefits are tax-free and can cover funeral expenses and help with the mortgage payments.

Be Diligent

Check your investments at least every month. Talk to your financial adviser or broker to get their take on where the economy is heading. 

At any given time, some of your investments could be threatened by a change in the financial markets. It may be necessary to make some adjustments.

Simply stated, to plan for your future you have to invest money you are earning today. A specialist from Pinnacle Financial Partners recommends taking a look at your financial assets as a whole to determine what they can offer for your future plans. 

Social Security in some form will be around 40 years henceforth and probably longer, however, it will only cover a fraction of your expenses.

Think about the things for which you are planning. Is it your own retirement? Are you saving for your children’s college education? Do you plan to move to an exotic island before you are 50? Prioritize and be reasonable in what you plan to do. 

Watch your investments. Communicate with your financial adviser on options that may develop. Do not depend on a company retirement plan. You may have several different jobs during your working career, and the retirement plan may not follow you. 

If a company pension comes your way, you are ahead of the game. However, if it disappears, you can still be in good financial shape if you start early in planning for the future.