Month: May 2019

Borrow in a smart way! – Apply for Mini Credit

by Thomas Lamay

If you need a personal loan, you could look for people in your area from whom you could borrow money. But not everyone is willing to lend their money. Another possibility to borrow from a private individual is currently possible via the Denbes website, where you can request a loan or request your options.

If you are indeed able to borrow money from someone yourself, make good agreements and record this on paper. You must therefore record in a contract what you have agreed on the loan. In any case, it must state how much you have borrowed, how much you repaid per month, and how long the term of the loan is. That is important for both parties. If everything is well described, no disagreement can arise. Also make sure you have proof of all the amounts that you have paid back, for example a bank statement or prinst screen of your bank account with which you transfer the amount.

Smart borrowing is comparing!

Smart borrowing is comparing!

How do you compare different loans? That is a frequently asked question. But not always very easy to answer. A loan is not just about paying back the loan amount. You will also have to pay interest and with some loans comes part insurance. In short, there are several factors that you will have to deal with if you want to determine the real costs of a loan.

The only correct way to calculate the total cost of a loan or loan is to multiply your total monthly amount by the number of months. The result that you then get shows the real costs and makes the amount that you have to pay at the different providers comparable.

You must therefore always ensure that the comparison that is made between different loan providers applies specifically to your situation. In advertisements, lenders mainly show what the cheapest interest rate is. But if you request a quote from one company for your situation, you cannot compare that percentage with a percentage from an advertisement from another company.

Use this tip to improve your budget – Personal Finance

by Thomas Lamay

Planning your budget based on planned monthly or weekly expenses requires a discipline that many people do not have. However, if you do, you may consider this planning a personal financial success.

 

When planning your budget in this way

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You end up incurring unexpected expenses that may be due to a change in circumstances such as rent increases, new jobs, continual changes in the price of gas, and so on. At this point, you can consider personal loan online as a possible solution. Its easy application process makes it ideal. Moreover, its acceptance does not depend on the credit score.

Another possibility is to make your budget a bit more flexible. Instead of planning each expense separately, you'll use ratios that will help your planning well. Here is how to write one of the most common ratios for personal finances: 50/20/30.

 

What does 50/20/30 mean?

What does 50/20/30 mean?

  • You should use 50% of your money for fixed costs that include your rent or mortgage, car and loan payments (if any), utilities (electricity, for example), cell phone bills, and others. All amounts, which are repeated monthly, are in this category.
  • The other 20% should be used for savings. This 20% segment also includes savings, investments and contribution to an "emergency fund". Do not worry too much about the amount of these contributions. Setting aside 20% is what matters. No need for your emergency fund to cover all unforeseen events. You can also use it to pay off your personal loans online faster.
  • You will therefore use the last 30% of your net salary for "variable" expenses. But what do they consist of? All monthly variable expenses such as food, gas, travel and entertainment fall into this category. Basically, anything that does not include 50% or 20% categories should belong to it. This will give you the opportunity to modify your budget if necessary. For example, if the price of gas goes up, for example, you will fill up your gas tank and postpone a trip to a restaurant or movie theater to meet your 30% monthly plan.

 

This type of budget is planned in different ways

This type of budget is planned in different ways

One of them is to use an online tool that will allow you to track your expenses. You can also use different accounts or different forms of payment for each segment. For example, you use a chequing account to pay the 50% of fixed expenses. Then you deposit the amounts allocated to the 20% savings into a savings account. Finally, you use cash or a separate debit card for flexible expenses of 30%.

By planning this way, you can adjust your budget and you will not experience any frustration even if some of your expenses are different from month to month.

The rights and resources you have when you lose a job – Is personal Loan an Option?

by Thomas Lamay

If you lose your job, do you know what rights and resources you have access to? Of course, you do not want to worry about it all the time, but if you're working right now, it's worth planning for the "worst case" so you know what to do if it happens.

If you have already lost your job, you must know your rights to move forward.

Here's what you should know about losing your job.

 

Your employer may owe you money

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If you lose a job, you may be entitled to several types of remuneration. Consider first the severance pay your employer will have to give you in case of layoff. Then he could also offer you compensation for dismissal, considered a penalty, because he fired you without notice. Finally, depending on your employment contract, the employer may owe you vacation days or unused sick leave. These unpaid benefits should be paid to you in one go after your departure.

 

Your employer declares bankruptcy

Your employer declares bankruptcy

The employer simply withdraws from business or declares bankruptcy. These are the most common reasons for losing your job. If this happens, you may wait a long time before receiving compensation. You can then consult the Wage Earner Protection Program which will allow you to obtain the promised wages for the days already worked, for terminations of employment or departure and others. If you meet certain conditions, you will obtain with this program the amount due to you.

 

What to get from your employer?

What to get from your employer?

If your layoff is due to a lack of work, you will be eligible for employment insurance. However, you will be asked for the record of employment of your last employer. To speed up the process, request this form as soon as you are informed of your dismissal.

 

Part-time work

Some people prefer a part-time job instead of not working at all. This allows them to bridge the gap until they find a new full-time job. You should be aware, however, that such positions may affect your eligibility for Employment Insurance (although you can earn some benefits even if you work part-time). However, your best strategy may be in the emergency fund you have saved.

 

Cover expenses

Cover expenses

If you find another job, you may need money to cover your expenses until you get back on your feet. A personal loan online could be the best option in this scenario. You may have trouble getting a standard loan, but once you have received your first salary from your new job, you can apply for an online loan and put your life back on track without having to wait for more paychecks. .

Taking out a lease-purchase loan. – Apply for Mini Credit

by Thomas Lamay

Before you take out a hire purchase loan, it is advisable to compare different lenders. There are many banks that offer a lease-purchase loan. The interest rates can differ greatly per loan, including the conditions per bank. The term hire-purchase comes from the idea that the person taking out the loan will continue to rent the product or service until the loan is paid off: the product or service can be purchased. After the loan has been repaid, the product or service can be purchased and the person becomes a full owner. This form corresponds to the financial leasing. For convenience, we have compiled a top 4 list for you with the most attractive offers to take out a lease purchase loan.

If the monthly term of the hire-purchase loan can no longer be repaid, the loan agreement will stop. If the loan has not yet been repaid for 75% within the agreed period, the borrower will have completely lost the product or service. The loan must still be fully repaid. This is possible through the sale of the product or service that is 'rented'. If this does not yield enough, then another way must be found to fully repay the loan. The chance of a negative lease purchase BKR registration is present.

Hire purchase and the bkr

Hire purchase and the bkr

Purchase purchase without BKR is possible from various lenders. A negative registration with the BKR can prevent the Hire Purchase from being concluded. A negative BKR indicates that the person applying for the lease-purchase loan has not properly complied with the agreements from his current loan. The chance that this will happen again with a new request to borrow money is too great. That is why banks often check whether someone is registered positively or negatively with the BKR.

The pros and cons of Huurkoop in a row

The pros and cons of Huurkoop in a row

Advantages: The rental buyer is directly in possession of the product or service and there is a fixed term and a fixed interest. This applies to the hire-purchase cars, but also to the rental-purchase home.

Disadvantages: The interest on the hire purchase loan is generally high. The rental buyer can completely lose his or her 'possession' if the agreed monthly repayment can no longer be met and 75% of the product has not yet been paid.

 

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