Six Financial Goals for 2020

The key to establishing goals is to create a habit out of them. Every year, spend some time to figure out the goals that you want to achieve for the next year. Here are some realistic and attainable financial goals for 2019:

1. Create a budget – and stick to it

Everyone loves budget but not all are good at following them. You might’ve heard this thousands of times before but you have to set your own budget! Regardless of how much you earn, setting a budget is vital. Budgeting is the best defense you have to control all your finances. Your budget will serve as your guide, or financial responsibility and accountability. This isn’t the most exciting thing to do but creating a budget for yourself will help you practice discipline. When talking about ways on how you spend and use your money, discipline plays an essential role. For example, do you know the exact amount of money you need to allocate for your necessities compared to how much you’re planning to place in your savings? It’s going to be hard to create long term finances if you have no idea of the clear picture. Your budget will be your entryway toward financial freedom.

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2. Setting saving goals for yourself

You should set saving goals that are realistic and attainable. For example, for every paycheck that you earn, set aside 10% of it for your savings – nothing too demanding or aggressive. Take note that the higher the amount of money you save today, the more savings you will have in the future. Also, it is important to remember that you should put your money on your savings first, then pay the rest for your expenses. If you put your savings first, it will never be left out.

3. Settle all bad debts

Another important financial goal apart from investing and saving is paying off every bad debt that you have. Bad debts are the type of debt that hold extremely high-interest rate, such as 15-18% and higher, usually found on credit cards. Settle and eliminate all of these debts if you want to achieve financial freedom and gain control of your finances. When there are bad debts, good debts also exist. This is the type of pf debt you obtain when you are investing in something that’s intended to become an asset that will provide an exceptional return. For instance, if you borrow a certain amount of money and use it to renovate your house that will become a good debt since it will have a great return on investment.

4. Examine your credit report

Kick-off your year on the right track by knowing your credit score and the vital factors that impact it. In the case that your credit score is lower than you expected, spend some time and effort to enhance it. Settle all your debts and maintain a low balance on all your credit cards in order to achieve an excellent credit score. Moreover, you should also avoid financial activities that will damage your credit score. Like for example, when you take out a car loan, there is a tendency that credit reporters will reduce your score. This being said, you should be cautious when you perform a credit check if you are planning to purchase something. See to it that they won’t interfere or decrease your credit score.

5. Manage your taxes as early as possible

Whether you like it or not, you eventually need to manage your taxes. Every year, most people follow a bad habit of waiting up to the last minute before organizing their taxes. Protect yourself from frustration and stress this 2019 and manage your taxes as early as you can. Prepare your tax documents and process your tax right away, don’t let the agency put you in another nightmare.

6. Spend some time and do your research

This year might be the year for incredible deals on many amazing companies. This is why saving and organizing your finances is very essential – in fact, it is vital. When the market descends, you want to take advantage of all the good deals and fantastic sales offered by different companies. With this, make it your goal to list down at least 5 companies on your wish list for the next year.

Are you on Centrelink income and need to borrow money? If so, consider getting a Centrelink loan from Perfect Payday will get you the funds you need. We consider Centrelink as income to get you a payday loan.

Conclusion

Setting financial goals for 2019 will help you manage your finances in an effective way. It will give you a clear direction towards securing financial freedom. No matter how many paychecks you receive, it doesn’t matter because these goals are applicable to all.

Go Green and Save Money

Climate change has been the usual topic in the news recently – but don’t worry it’s for a good reason. According to the UN, there are only 12 years left before the effects of climate change is still irreversible. So, what can you do to help make the planet greener? Here are five unique ways on how you can start carbon-saving without hurting your pocket.

This list of green eco-friendly ideas is brought to you by Perfect Payday. We are a no credit check loan company that can help you get a payday loan if you are employed.

1. Limit your meat consumption

The first and most common step to becoming a green warrior of the planet is to lessen your meat consumption. Though removing any traces of meat from your meal plan will have a big overall impact, eliminating cold turkey might be a huge goal for you. In some places, meat is an essential ingredient in most of their meals. For some people, the absence of this juicy protein might leave them unsatisfied. Fortunately, there are wide-ranging protein alternatives that you can find in the market. They work as an incredible substitute for meat and they will give you the same feeling of satiation after every meal. You can start by decreasing the amount of meat you buy, which can also help you save a generous amount of money on your grocery bills. To kick off your journey towards limited meat consumptions, here are several strategies you can try:

  • Substitute chicken – chicken contributes the least amount of carbon footprint compared to meats. So, buying them instead of red meat is a good start.
  • Go meatless once a week – dedicating one meatless day each week is an effective and easy way to reduce your meat consumption.
  • Be flexitarian – if you truly want to make some changes, choose a flexitarian diet. This has been proven by scientists to have little to no impact on Earth.

2. Rebuild the mainstays in your kitchen

Your kitchen is the center of all the waste that circulates around your home. From food packaging to cleaning products, it’s hard not to fill up your trash bin especially if you are always using your kitchen. Though disposable wraps and plastic packaging are impossible to avoid, there are plenty of simple things you can practice to reduce your waste. This is all thanks to the introduction of sustainable products in the market. Now, you can choose among many creative ideas on how to dispose and store your food – minus the costly expenses. Take a look at these tips:

  • Use reusable produce bag when grocery shopping – avoid utilizing plastic produce bags when you are going to the supermarket. Buy some reusable ones instead and bring it with you whenever you are grocery shopping. There are many sustainable brands that sell them in different styles and sizes.
  • Limit your paper towel usage – these paper towels are somehow non-eco-friendly. So, skip them if you can and opt for reusable cloth napkins instead.
  • Avoid purchasing single-use wraps – even if foil and cling wrap are extremely convenient when storing food, they suck at breaking down and takes forever to decompose. Buy beeswax wrap and other reusable coverings instead.

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3. Prepare to Eat on the Go

People love dining outside, whether it’s in fast-food chains, restaurants, clubs, or pubs. However, the waste produced by these food outlets are not something that you will love. Be it plastic takeaway containers, food wrappers, straws, bags, bottles, plastic cutlery, napkins, and others – these wastes all add up. Good thing you can now practice greener habits when eating outside. There’s glass water bottles, metal straws, and bamboo cutlery for you to use. Here are other items you can bring to reduce your waster when eating in your favorite restaurants:

  • Reusable container – works great for takeaway orders or any food you had left that you wish to bring home.
  • Reusable cup – for coffee or milk tea lovers out there, investing in a reusable cup with save you tons of plastic cup wastes in the future.
  • Cutlery – to avoid plastic, get yourself your very own metal fork, spoon, knife, and straw. You can even purchase them in sets at an affordable price.
  • Water bottle – bottled water is pricey and it produces a lot of waste. So, make sure you bring your own wherever you go.

4. Invest in second-hand clothes

Fast-fashion and synthetic clothing had taken their toll on consumers for how many years now. Clothing items are also one of the biggest waste materials that stock up landfills worldwide. With this, it’s time to revamp your wardrobe and consider the clothes you buy. There are many ways on how you can reduce your carbon footprint, save money, and still be fashionable. It all revolves around selling, donating, and purchasing pre-loved clothes. Here are the best places to find good-quality second-hand clothing items.

  • Carousell – this app is a great platform for buying and selling clothes. It also has an incredible location filters.
  • Etsy – this app is the powerhouse of vintage and handmade products from local and international manufacturers.
  • SWOP – whether you wanted to buy vintage items or sell your own pre-loved clothes, this one got your covered.

5. Rethink your laundry habits

Laundry is an essential aspect of modern life. The introduction of washing machines brought comfort to many homeowners, as well as business establishments. However, no matter how useful these machines may seem, they are one of the largest consumers of energy and water in homes. Though there are a lot of environment-friendly and energy-conscious models and brands introduced in the market latterly, not everyone has the luxury to upgrade their washing machines. If you are one of those people, you can opt for these two easy yet effective methods on how to decrease your impact on the environment while saving money on water.

Dry smartly – take out your washed clothes outside and dry them under the heat of the sun. During the rainy season, hang your clothes in a bright, airy place inside your home.

Wash using cold water – heating water takes up a lot of energy. The smart way? Wash with cold water and watch your bills go down.

Perfect Payday is a new loan lender in Australia. Are you on Centrelink payments and need a loan? If so, apply for a Centrelink loan here with us today. We consider Centrelink payments as income that can qualify you to get a payday loan.

Fixed Rate Vs Variable Rate Loans

Financial emergencies cannot be predicted and certainly cannot be controlled, but what you can keep under control is the approach you can adopt on how you can repay your loan obligations. This is the reason why lending institutions offer numerous ways of repayments based on the interest rate that you can afford.

Two of the most common loans that most individuals avail themselves of are fixed loans and variable loans. It is important that you know the difference between the two to put you in a better position when deciding which one suits your current financial status best.

Fixed interest rate

When you avail yourself of a loan with a fixed interest rate, this means the interest rate doesn’t change or fluctuate during the lifespan of the loan. It remains the same and doesn’t change over time or during the entire period of the payday loan, allowing you, the borrower, to know how much you should pay when repayment is due.

Variable interest rate

Under a variable loan, the interest rate changes or varies depending on market conditions. This means when market interests change, so is the interest rate on the variable loan.

When you avail of a variable loan, the amount you pay for your repayments may vary. You will have no way of predicting how much you should pay on your next repayment due date, as the interest rate relies on market conditions.

Which one should you avail?

There is no easy yes or no answer when deciding between a fixed loan or a variable loan. When deciding which no credit check loan to avail, it will serve you well to know how interest rates on these respective loans affect how you pay your repayment dues.

It is a must to understand how interest rates work since they greatly affect how much you pay for your repayment obligations. It is also important to know if the loan you availed yourself of can change or not, as this sets the pace for how much your current income only allows.

With these factors in mind, it is important to know why interest rates change. Under a variable loan, for example, the interest rates depend on the Reserve Bank Australia’s cash rate. When there’s a fluctuation in the cash rate, you can also expect a change in the interest rate you pay.

The fluctuation in the Reserve Bank’s cash rate may be attributed to inflation. Simply put, when the economy is on the upswing, the cash rate increases as well. When the economy is not performing well, the cash rate will go down, too. The cash rate is being used by the Reserve Bank Australia as a means to regulate the economy.

Hence, the interest rate you pay under variable loan changes depending on cash rate performance. This means your repayments may increase or decrease. The question of keeping up with higher or lower repayments all depends on you.

It is also important to note that when you pay for a loan, the payments you make essentially goes to the interest rate. So, when deciding which loan to go for, it is important to keep in mind how much you can afford in terms of paying for the interest rate.

To help you decide better, here are the pros and cons of fixed loans and variable loans:

Fixed loans

Pros:

  1. You can plan your budget better, as you already have an idea of how much your repayment will cost. This means you will also able to effectively manage and plan your finances.
  2. Even when market interest rates increase, you need not worry as this won’t affect the NZ loan you availed.

Cons:

  1. Since the interest rate is fixed, you are not entitled to any interest rate discounts or reductions since you agreed on a fixed interest rate to be paid on the full life of the loan.
  2. When you are able to pay more and decide to make more repayments, there are restrictions or limitations to making extra repayments.
  3. You can get charged for another fee should you decide to pay off the full amount of your loan outside the agreed repayment schedule.

Variable loans

Pros:

  1. You are allowed to make extra payments on top of your repayment due.
  2. You can save on interest rates when you decide to switch or avail of a new loan.
  3. You are entitled to unlimited redraws.

Cons:

  1. Since interest rates vary, you will have a much difficult time planning your monthly budget.
  2. When you can’t predict the interest rate you should pay every month, it can cause stress, especially when your income would no longer allow for rate increases.

The interest rate to avail for home loans

Weighing in these pros and cons can help you immensely when thinking of getting a home loan. Most home loan customers avail themselves of a fixed rate home loan due to the following advantages:

  1. When you avail of a five-year home loan, for example, you can expect to pay the same interest rate for the entire five years. This means you will be able to plan your finances more efficiently.
  2. You don’t have to worry about fluctuating market interest rates, as this won’t affect your home loan in any way.
  3. You don’t have to deal with financial stress, as you already know how much to pay from Year 1 to Year 5. You will be faced with higher mortgage repayments as there is no increase in the interest rate that should be paid until the end of the loan.

If this arrangement works for you, it is probably a good idea to go for a fixed rate home loan. Fortunately, you can choose from a wide variety of banks and lending institutions that offer fixed rate home loans at the best rates.

Before taking that big step, take note of the following tips when making your decision:

  • Make a list of your needs and wants. Every customer has different priorities when looking for a home loan, and it is important to know what you want out of the loan you want to avail.
  • Compare different home loan companies. It is important to research and compare different fixed interest rates to see which company offers the best for your unique requirement.
  • Don’t hesitate to consult a professional. A mortgage broker, for example, can guide you on which home loan to avail that suits your needs, on top of helping you find the best interest rate for a home loan.
  • If you’re keen on finding the lowest interest rate for home loans, it is a must to compare lending companies to give you a better idea of what they can offer on the budget you want to provide. There are a number of online sites that you can visit to compare rates between lending companies.
  • Keep in mind that you don’t have to pay for the services of a mortgage broker, as more often than not, the lending institution will pay the fee for referring you to their services. However, do note that lenders often include this fee when calculating your loan proceeds. In short, there is no need to pay the mortgage broker a separate fee as this is included in the home loan you will avail and will be coursed through the lender.
  • Never hesitate to ask questions when working with a mortgage broker and make sure that everything is explained to you in a clear and precise way. You will be spending hard-earned money, so every little detail counts.

So, when you decide to avail yourself of a home loan or any kind of cash loan, it is best to weigh up all the benefits and disadvantages based on the interest rate being offered before sealing any deal. May it be a fixed loan or variable loan, your decision entirely depends on your current financial situation.

More importantly, when getting a home loan, decide based on whether or not you will stay in that home for a long period of time. When you intend to stay for the long haul, then a fixed interest rate home loan may be a good option to go for. If you’re planning on moving homes in the future, then a variable interest rate home loan could be the best choice for you.

Take all the time you need when making this big decision. Remember you’re going to spend a good amount of money on this particular loan, and a hurried decision is never a good idea.

How to Handle Credit Card Debt

Do you want to start a clean slate with your credit card debt? Now is a perfect time! Having a massive credit card debt can be burdensome and stressful. The new year is the best time to get your credit card debt under control for keeps. For some, this can be a real problem, but with the right discipline and mindset, you can get it over and done with fast.

If you have bad credit, you may have trouble getting a loan unless you apply for a payday loan. These types of loans are typically mroe expensive, so it is a good idea to get your credit rating under control in order to get better rates on loans.

Know the Root Cause

Many people suffer from credit card debt because they own several credit cards. All of these cards bear various credit interest rates and this is where your problem begins. The more credit cards you have, the more stressed you will become. Do away with the stressor and focus on what truly matters starting today.

How Much Debt is Too Much?

If you want to bid goodbye to credit cards for good, then you have to sit down and determine how much exactly you have. We suggest you gather all the data and information in a piece of paper and take a good look at your finances. Have the resolve to end all of your debts as soon as possible.

Make Steady Repayments

It is crucial that you make steady repayments of your debts. Make it a habit to pay them off as much as you can every single month. This practice will help reduce interest. It is very important that you pay at least the basic monthly dues or suffer the late or default charges that can compound very fast.

You can take advantage of a direct debit process to ensure there is money sitting in your account when payment becomes due. Overall, if a direct debit fails, the default charges will be added to your account.

Make Your Debts Your Priority

For those who have several debts, start settling each one of them one by one. It may be tough at first, but when you are able to do so, you will get off the debt trap real fast. You can do the following to easily settle your debts:

Cards With Highest Interest Rates

If you are planning which card to pay first, then we recommend you focus on the ones with the highest credit card interest rates. This one is sure to cost you more, so better to settle it real fast. When you pay more than the minimum amount of the card, you can pay your debt fast, and move on to the next card.

Payoff Your Smallest Debt

Yet another great way to start focusing on paying off your debt is to pay your smallest credit card debt. Remain to pay your minimum repayments on all of your cards. However, it is best to pay more than the minimum amount to slowly and easily pay off small credit card debts. Once you have paid off your small credit card debt, we suggest you move on to the next credit card with the smallest amount of debt, proceed to the next, and so on.

Pay In Cash

For those of you who wish to do away with a credit card for good, we suggest you pay for everything in cash. It is never a great idea to add to your debt while you are trying hard to resolve it. Thus, it may be good to pay in cash or make a habit of paying for your purchases using a debit card.

Never Miss The Most Important Stuff

Whenever you have money, make it a habit to always take care of your most important expenses all the time. This means settling the charges for basic utilities, rent or mortgage, phone and internet bills, insurance, and more. We are totally emphatic with people who find it hard to hold back on the more gratifying expenses but, this is exactly how your credit card debt ballooned in the first place. If you carefully follow through this strategy, it can dramatically lessen the likelihood of you falling short on your finances and avoid depending on your credit card. You can instead, set up a direct debit with regular payments on the most important expenses, so you do not have anything to worry about.

Assess Your Savings

The next thing you have to do is to evaluate your savings. As the last thing you want to do is to make use of those savings and pay off your debts. However, this can be a sound option for some people. When you consider all things, you will find that the interest on your cash that is simply idle in your bank account is far less than the interest of your credit card that kept accumulating. So, it is something worth taking a good look into. At times, it is best to take care of the debts and bills and then start with a brand new slate. The last thing you would want is to end up with a very bad credit history.

Do you need a type of cash loan? If so, apply today with Perfect Payday. We will introduce you to a direct lender who can help you get a loan immediately. Submit your application today by clicking through to the homepage and clicking the apply button.

Start Budgeting

There is nothing safer than this advice – budget, budget, and budget! The best way to get out of the credit card trap is to start budgeting. Make sure to plan for all of your regular expenses like rent, electricity, fuel, and or food in a regular basis. When you plan everything right, there is less room for any unexpected surprises. You will always have a lot of cash for everything else. It is a very great idea to set aside a little cash for any emergencies and unforeseen events. You can use the extra cash for other stuff too like for travel, leisure, or buying something nice to treat yourself. Also, consider budgeting for your fun money. This way, you will not depend on credit. It can help you have a budget so you can see where exactly your finances go.

Close It Down

The moment you have paid off your credit card debt, close it down. Check with the bank and have them close your credit card account entirely. It will be very easy to fall into old habits, so make sure to get rid of the temptation now. The worse part is, if you refrain from shutting down the account you will still incur fees and charges. But, the great news is, credit card companies will provide the option to close it down, you can also do this online.

Avoid Getting Overwhelmed

It is vital that you do not get overwhelmed. It can be very easy to overlook a debt and then feel defeated and be unable to free yourself from it all. But, if you think things clearly – you always have a way and planning is the best way of doing it. If you know exactly how you go about it all, you can start banishing credit cards real fast before you know it. Make a serious commitment to stick to your plan. It is important that you write it somewhere you can see every day to remind you of your goal this year. Remember to always play more than the minimum on higher interest cards, this will help you get out of debt fast. When you finally see your credit card balance going down, you will be proud of yourself. There is no better feeling than getting out of debt this new year!

Are you on Centrelink? If so, when you need a loan you can apply for a Centrelink loan. This type of loan considers your Centrelink payments as income in order to allow you to borrow money.

Understanding Your Credit Report

At some point in your life, you might’ve wondered how your credit report impacts all your loan applications. When you are applying for a loan, it is essential to fully understand how your credit report works. And what can you do to use it to your advantage when anticipating for loan approval. Generally, lenders look at every angle in your credit report and what they find out will impact the result of your application.

Credit Report

In the simplest sense, a credit report is a person’s creditor history gathered in a single report. It facilitates your credit score and it is designed in a way that allows creditors and lenders to instantly determine your creditworthiness. If you ever applied for a home loan, credit card, personal finance, electricity, gas, or mobile phone contract, you already have an existing credit report on one of the many credit reporting agencies.

Credit Reporting Agency

A credit reporting agency is considered a company that gathers and keeps a person’s credit details. Creditors and lenders utilize these details to examine someone’s credit history. The vision of credit reporting agencies is to make sure that they have sufficient information to assist the lenders in making intelligent decisions.

Loan Application and Credit Check

If you apply for a cash loan from a lender, multiple consent forms and different information will be collected during the application process. The lender will ask for your complete name, birth date, gender, residential address, driver’s license, and employer information. All of these will guarantee that they have sufficient information to precisely examine your credit report. It is very important that you provide the appropriate information when applying for loans or credit since this will greatly help make application procedure seamless and fast.

The Information Lenders Examine on Your Credit Report

When a lender asks for a credit report from the credit reporting agency of their choice, there are different information that they examine to help them decide the outcome of your application. The first two things that they look at are your credit report and credit score. These are the two most important information on your report. You score will tell them your repayment capacity. In the lender’s point of view, the higher the score, the more likely you can repay the loan. The age of your credit report is another vital information that will make the lender trust you. For them, the older the credit report without any major problems, the better it is. Other than these two, the lenders will also examine other aspects of your credit report like past addresses, enquiries, defaults, court actions, bankruptcy, and business transactions. This information will impact your credit score and allow the lender to clearly see your financial history.

Improving Your Credit Score: Things to Avoid

If you badly wanted to increase your credit score, you should know what things to avoid and stop doing. The thing about your credit score is more does not necessarily mean better. Information such as the amount you plan to borrow and enquiries impact your credit score. When you know how much money you need, stick to it and don’t take more than that. When you apply for a bigger amount than what you need, it will affect your credit score – and not in a good way. Moreover, if unforeseen expense appears and you have no other resort than to apply for unexpected bills loan or emergency cash loans, avoid applying from numerous lenders simultaneously. Multiple enquires over a short amount of time will negatively impact your credit report and give the lenders the impression that you are desperate for money.

To take care of your credit score, limit your loan application to one lender and wait for the outcome first before you apply from a different lender. In addition, you should also prevent default listings to show up on your credit report. The best way to do it is to completely avoid it. If you happen to default on a certain lender, electricity companies or telco company, they can record a default listing on your credit report. The majority of these companies will hire a hardships team to help customers look for manageable solutions to repay what they owe to the company before recording it on your credit report. Reach out to your lenders and find a good solution to avoid default listing.

Free Credit Report

If you are a consumer, you are eligible for one free credit report every year. But if you want an instant credit check, you might be asked to pay. But, if you don’t mind waiting for 10 days, you can access your credit score check online. All you need to do is to reach out to any of the major credit reporting agencies. They will ask you to give your complete name, residential address, birth date, driver’s license number, and past address.

Many people, when they consider a payday loan, are afraid to do so thinking they will not qualify for a loan because of a bad prior history of borrowing. If you have a bad credit history, we encourage you to apply for a no credit check loan from us today.

Why It Pays to Check your Credit Report

It pays to know the information record on your credit report. There’s nothing wrong with knowing and it will enable you to change your borrowing habits – if there’s something that’s needed to be changed. Examining your credit report will also inform you of any inaccurate listings that might be due to identity theft. All in all, here are several things that you should watch out for in your credit report:

  • A debt that’s been recorded twice
  • Incorrect name or birth date
  • Old address
  • Inaccurate debt amount

Basically, checking your credit report will help you determine if you have weak credit and what kind of loan you may be qualified for. Once you find inaccurate information on your credit report, make sure you fix it as soon as possible. So, how do you fix it? You can contact the information provider and credit reporting agency since it’s both their responsibility to fix any incorrect details. However, you also needed to inform them of the wrong info. Tell them the facts and collect any documentation that will support your claims and mail or email it to the two providers.

Why Improve Your Credit Score?

A credit score is one aspect of your financial history that often gets the least amount of attention. However, no matter how boring it may seem to you, it greatly affects your financial freedom, thus you should begin taking your credit score seriously starting today. You can start by determining the present standing of your credit score and the rest will follow through.

Credit Score Checking

To get a credit check, there are many credit reporting agencies that will accommodate you. You can reach out to Equifax, Experian, and Illion. Before checking your credit score involves a lot of procedures and most of the time, it could be a daunting task. Even until today, you still need to wait for a certain period of time or you could pay to accelerate the process. Thanks to a free credit check online, you now have more options and much faster processing time. In fact, you can obtain free credit checks from various websites. Pro tip: get your credit rating check from different agencies to give you a better view of your current financial standing.

How To Determine Good Credit Score?

Once you obtained your credit score, what would be your next step? Basically, you want to assess whether or not you have a good credit score. Thankfully, credit reporting agencies utilize the same band descriptors to find out the status of your credit score. Typically, your credit score is somewhere between excellent, good or weak. Here’s a quick guide to find out your credit score rating:

Experian:

  • Excellent – 800-1,000
  • Good – 625 – 699
  • Weak – 0 – 549

Illion:

  • Excellent – 800 – 1,000
  • Good – 500 – 699
  • Weak – 0 – 299

Equifax:

  • Excellent – 833 – 1,200
  • Good – 622 – 725
  • Weak – 0 – 509

So, how do you measure up? If your score is currently on the lower level of the scale, don’t worry. After all, the initial step to solving a problem is learning how to recognize it. Even individuals with good ratings still need to improve because the higher the score, the greater the benefit.

How To Improve Credit Score?

In order to improve your credit score, you need to start with the basics. Practice good financial habits such as limiting credit card or loan applications, settling bills on time, and repaying all outstanding credit cards or payday loans. You should also track your credit score regularly to see you improve. Examine your credit check since you can pick up ideas on which aspect you need to improve. Take note that having a good credit score will give you a handful of benefits and will make your life even easier. Here are some benefits that you might want to check out:

1. Plenty of power to negotiate

This particular benefit cover different areas and it is extremely helpful. When you have good credit, this means that you can negotiate better than before. Whether it’s for managing a no credit check loan or negotiating terms for your credit cards, it pays to have more negotiating power. You’ve been through tough financial situations and bad loan terms so when you have the capacity to demand for greater deals, you won’t hesitate to use it to your advantage. With this kind of powerful influence, you’ll be more confident to communicate and demand what you think suits your situation. If the financial company you worked with isn’t offering you the terms that you are looking for, having an exceptional credit score will allow you to walk out without any doubt and find new deal from other companies. Feels good, right?

2. Better job opportunities

Though this isn’t as useful as the previous benefit, this one will back you up as you embark on your career. Chances are, as your position in your chosen field ranks up, potential employers will begin to perform credit checks as part of their assessment procedure. This is very important if you are planning to apply for a job that revolves around dealing with finances. Basically, in such a line of work, your employer will entrust the company’s finances to your hand – so they would want to find out how you manage yours. The credit check that would be carried out by your prospective employer will serve as some sort of reference. Generally, a referee is a form of contact you submit to your employer in order to determine if you are qualified for the job. They want to know that you are as reliable and responsible as you claim, and a credit check will offer some insight. Once they find issues about bankruptcy or consistent late default payments, they will deem you like risk and unreliable for the work. They will also worry that your personal financial problems could destroy your job with them. With this, having a top-notch credit score will serve as an extension of your credibility and can offer you an advantage against other applicants.

3. Hassle-free renting

If you are currently residing in the city, you’ll find that you have a lot of competitors when it comes to renting out spaces. There are many people who aren’t homeowners yet and they too, wanted to find the ideal spot that they can temporarily call home. The dream is to live in a space that’s close to work to skip morning traffic, just a short drive from restaurants and stores, and a walking distance from beautiful parks – but it’s not always this easy to look for the perfect place. And in the case that you do, chances are, you are not the only one who wants it. Just like employers and lenders, landlords can also utilize your credit score to find out if you are going to be a trustworthy tenant. With several people fighting to rent a single unit, having a weak credit rating will lower your chances of winning against your fellow renters. A history of late or default payment doesn’t translate to a responsible tenant and even if you have a healthy account balance, you could still lose your chance. This being said, having a favorable credit score is very important when you are looking for a unit to rent. This will give your landlord an impression that you can manage your finances well and pay your rent on time.

4. Great home loan deals

If you are done renting and want to settle in a place that you can call home, then you are ready to buy yourself a new house. However, purchasing residential property costs a lot and you can’t instantly get enough money for it. This is why you need to reach out to your bank and decide to take out a home loan. But, if you have a weak credit score, this simple process could turn into a difficult task. With this, you need to make sure that you have an immaculate credit score before you apply for a home loan since it will back you up during the application procedure. You’ll also have a chance to negotiate better home loan deals with your bank.

5. Affordable utilities

By the time you are reading this, you are probably thinking, “All aspects of my life are truly dependent on my credit score, just great!” That’s why starting now, you should give importance to yours and start revamping it to enjoy the benefits of having a good credit score.

In the case that you are paying utilities on your own, there are utility companies that may examine your credit history. The same way how landlord or bank companies do it, they wanted to make sure that you have the capacity to turn in regular repayment. If you had an issue of late or default payments in the past, they may ask you to make an advance deposit to make up for the risk that they are accepting. If you just moved to your new place, this unnecessary cost is the last thing that you wanted to encounter. This is where the importance of improving your credit score comes in since it will save you from additional financial strain in your life.

If you are on Centrelink payments, you may be interested in applying for a Centrelink loan. You can apply for one at the previous link.

6. Favorable insurance costs

Though you don’t want to think about unfortunate events happening to you, it pays to be ready. This is the reason why insurance companies are established – to aid you during unforeseen life incidents. To achieve peace of mind without breaking your bank, you need to obtain the most affordable insurance deal. As expected, your credit score plays a huge part even in this aspect. People with excellent credit scores have greater chances to obtain an affordable insurance plan. The thing about insurance companies is they calculate risk. Even if they won’t reject you for having a poor credit score, you will be offered an insurance plan with an expensive cost. Improve your credit score and witness how these costs will dramatically decrease.

This article was brought to you by Perfect Payday. We can help you get a fast cash loan if you are in need of assistance.

Your credit score influences different aspects of your life. Knowing this, you should start improving your financial habits, handle your finances accordingly, and take extra measures to ensure you rebuild your score.

Pawning Vehicles To Get a Loan

Pawn is the amount of money given to you that corresponds to the value of your property. In the case that your default on your loan, the item will not be returned to you. Once you agree to pawn a particular item, this means that you are also transferring the asset to the pawnbroker once you fail to meet the contract terms. The reason why many people choose to pawn their personal items, such as a car, is because it could give them quick and accessible cash. However, pawnbrokers don’t have to follow any code of responsible lending that lenders do.

Pawned My Car, Can I Still Use It?

Based on our firsthand experience, there are many pawnbrokers out there and they don’t have the same criteria of operating their business. However, most of them will let you use your car even if you pawned it against a loan. There are even some that will allow you to lend some money as compensation for the car parts – in the case that it’s too expensive. It is still best to check their individualized terms and conditions to determine what you are entitled to.

Secured Loan

Based on our observations, when borrowers use their assets to serve as collateral for the loan, they are taking a cash loan. Most lending companies will do everything to offer other avenues like rebuilding your loan so it suits your current financial capacity before they will finally take your asset – which can be in a form of car, house, and etc. Typically, a secured loan is a much better and safer resort compared to a pawn loan – though the money might take a little while to process. If you find pawn loan way too risky, taking out a secured loan is your best option to get the money that you need.

Secured loan lenders are not pawnbrokers. They will not offer immediate cash for your car, but they do have same-day approval – depending on your financial circumstances. The great thing about secured loan lenders is they follow responsible lending. Their primary goal is to provide convenience and ease to the borrowers. This means that you could take out a secured loan of as much as $10, 000, without the need to leave your home. In fact, you can even fill up the application form on your smartphone!

Moreover, you can utilize your car as collateral when applying for a secured loan without worrying that it will be taken from you. This is because the lenders will not allow you to take out cash that’s way beyond your repayment capacity. A payday loan also has a realistic assessment and the lenders are accommodating and understanding.

Can I Use My Car Against Secured Loan?

We have found from using this product that, if you are wondering if you can still use your car even if it is considered as collateral against the secured loan that you took – the answer is yes. Though there are various kinds of lenders that offer secured loans with numerous sets of terms, the majority of them will allow you to drive your vehicle. But, it is still best if you check out the terms and conditions of your lender – just to be sure.

Can I Use My Car As Collateral For A Personal Loan?

You can use your car as collateral for a personal loan when you apply for a secured loan from an online lending entity. Unlike an unsecured car loan, using your used car as collateral can help you take a bigger loan no matter what your credit score is.

A borrower uses their vehicle as collateral in hope of acquiring bigger loans with more favorable terms.

Are You Qualified to Apply for a Secured Loan?

A secured loan has a very flexible criterion that sets them apart from other loan schemes. Borrowers need to meet the following in order to qualify for the loan.

  • All applicants must be at least 18 years old
  • All applicants must have a stable income into their personal bank account for the past 3 months
  • All applicants must have an active phone number and email address
  • The application will require 100 points of ID
  • Online banking information must be presented during the application procedure

Approval Times of Secured Loan

Lending companies that offer secured loans do their best to update you with the result of your application as soon as possible. If you happen to apply during your normal AEST business hours, some lenders can get back to you in as fast as 60 minutes. If the entire application goes smoothly, you can have the money by the end of the day. Take note that inter-bank transfer times might have a tendency to bottleneck the speed at which the money enters your account. If you are planning to apply for a secured loan, make sure you prepare all of your personal documents in advance since this will accelerate your application procedure.

Perks of Applying for Secured Loan

When you apply for a secured loan, you can see to it that lenders will treat you with utmost customer service. This is because they abide by the standards of responsible lending, thus you can guarantee that they won’t take advantage of your financial incapacity. In fact, they will help you get back on your feet, so you can enjoy financial freedom.

How to Apply for Secured Loan

Once you made the decision that you will apply for a loan and use your car as collateral, here are the steps that you should undertake:

Step 1:

Scroll up to find the loan calculator. Choose the amount you want to borrow and the repayment period that you desire. Click ‘apply now’ and start your online application form.

Step 2:

Fill up the application form. Once you are done, the lenders will process everything and all you have to do is wait. They’ll get back to you with the result of the application after a few hours.

Step 3:

If your loan application is approved, the lending company will contact you. They will send you an agreement and you need to carefully review it before you sign. It is very important to familiarize yourself with any additional charges that you need to pay when you fail to repay the loan on time.

Step 4:

Once the lending company has your signed contract, they will transfer the money to your bank account. Take note that inter-bank transfer times might take a little longer compared to regular transactions.

Guide To Choosing The Right Lender

Searching for a lender? There are several things that you might want to consider first before you begin your ultimate search.

Getting to Know Money Lenders

A money lender is someone who offers loans with an associated interest rate. The interest rate is fixed and they can also charge additional fees such as service fees, annual, fees, transactional fees, and others. Selecting a lander has become more complicated as times passed by, especially with so many online lenders claiming they offer cheapest rates, excellent loan terms, and ultra-efficient loan approvals. But are these online lenders offer great deals compared to traditional ones? The answer is yes and no. Though they might not have the costly expenses linked to conventional lenders or major banks, there are still fees associated with money lending. However, online financing is a more convenient and uncomplicated option compared to traditional lending companies.

Should You Trust Smaller Lenders?

Is it right to depend on small-time or local lenders? The thing about small lenders is they hire their own closing and processing officers. They excel in small, instant cash loans. Their operations feature a top-level of entrepreneurship. Similar to big companies, their terms and expertise can also vary from each other.

Tips on How To Choose the Right Lender

1. Don’t forget to do your research

Many people struggle when it comes to selecting a lender since they have no idea where to begin. The answer is simple – explore online. Research all offers and prices meticulously for details. Look past through the fabulous advertising and unrealistic claims. Determine the appropriate requirements, additional fees and dishonor fees. Search for reviews, as well.

2. Compare different costs

If you have time to spare, compare rates from different lenders – four lenders is a good start. Take advantage of loan calculators to calculate how much you’ll be paying back in the future.

3. Determine what type of loan you need and why

There are an encyclopedic variety of loans that you will find out there – quick cash loans, smart loans, payday loans, mortgage loans, personal loans, car loans, and many more. Loan terms vary according to the kind of loan. The reason why you want to apply for a loan is also essential for you and your chosen lender since this will determine the ideal solution for your financial woes.

4. Enhance your credit score

Though you can still get a no credit check loan even if you have low credit score, you’ll have less negotiating power. Find reputable lenders that will not only focus on your credit score alone, but will also consider other factors.

5. Everything must be in writing

A reputable lender will guide you all throughout your application and they will give you a copy of the loan contract. Make sure you read it carefully before signing anything. If you have questions regarding the contract, feel free to ask your lender for clarification.

6. Ask suggestions from a friend

Though this might be too obvious, many people tend to overlook this source. There’s a big chance that one of your friends might be presently repaying a loan. Find that friend and ask for recommendations about great lenders you can work with.

7. Reach out to a professional

Ask a lawyer, real estate agent, accountant or financial consultant if you are planning to get a loan. These professionals work with lenders on a daily basis and they are full-aware of how they operate.

8. Read the fine print

Don’t hesitate to ask questions and read contracts from cover to cover. If a lender claims transparent terms and no hidden charges, don’t fall for it, especially if they are rushing the entire process. This is not an ideal way to select a lender. Find out about the criteria and charges. Before, borrowers just go to the local bank if they want to borrow money. Now, there are a lot of banks wherever you go and you can meet up with a loan officer anytime you want, even if it’s not mandatory. You can even sign a contract in the comfort of your home – that is the beauty of online lending.

9. Investigate their customer service

As of the present, it’s not about working with the nearest bank since it’s no longer mandatory to personally go to a bank to obtain a payday loan. It’s not also about loyalty to a certain company since you are just one of the thousands of accounts that they are managing. What’s important is the interest rate, but it’s not the most important factor. The lending industry is very competitive and many lenders provide the same terms. The number one criteria that you should focus on is customer service. Your lending company must have accommodating, helpful, and friendly staff. They must have amazing reviews and service awards from satisfied clients. The best leaders aren’t afraid to take personality responsibility for the loan of their clients.

Advantages Of Online Lenders

One problem with major companies is that they haven’t fully embraced the reality when it comes to people’s finances. With this, they end up rejecting potential borrowers, approving bad applications, and encouraging a scheme of irresponsible lending. Why? One of the main reasons is that these types of lenders only ask for the most standard and obvious detail, like utility costs. Things such as unintended but critical purchases can damage the bank, immediately resulting in default loans. After that, default interest is charged, completely submerging the borrower – who couldn’t afford the loan in the first place – to even greater debt. This is not good for the borrower and the lending company – who will begin having problems collecting repayment. This self-destructive pattern is the number one reason why the lending industry has a bad reputation. Online lenders are different than this traditional way of lending. They gather more relevant information and you can conveniently fax or email them any essential documents. Working with an online lender, you can guarantee that everything will be made available for you in writing.

How To Choose an Online Lender – and Which Ones to Avoid

The first thing that you should consider when selecting an online lender is their level of customer satisfaction. Lending is not solely about the rates, but the number of satisfied clients. Many online lenders claim that they offer instant outcomes and seamless communication, but not all live up to their promises. Moreover, locations don’t matter if you are choosing an online lender. However, you should still work with those that are within your time zone.

Once you know what a good online lender looks like, you should also be aware of the bad ones. Though most lenders follow the laws, there are still those that are black sheep of the industry. They prey on naïve and desperate borrowers and lure them into taking a loan that’s way beyond their repayment capacity. Furthermore, don’t settle for a lender:

  • Who sent you a direct email but you don’t have any connections
  • Whose advertise their loan by giving out flyers to your doorstep or sticking them in your windshield
  • Who randomly contacts you to offer a loan
  • Whose charges and rates are extremely high or low
  • Who is urging you to instantly sign the contract without reading

How Much A Loan Actually Costs?

There are many lenders and financial companies that offer loans. Basically, they won’t have the same terms, rates, and fees – though some might unintentionally have similarities. This is why shopping and comparing is highly-recommended for those who are planning to secure loan. With the competitive lending industry that you are in, it is very important to explore different loan options and lending companies. You’ll find that what’s expensive to other lenders is actually cheaper to some. It’s all about taking the time to compare and investigate the best deals.

Furthermore, you can take out a loan worth $1, 000 with a repayment period of 12 months, and repayment amount of $33 per week, $67 for every two weeks, or $140 per month. You can also borrow as much as $10, 000 with a repayment period of 13 months and repayment amount of $124 per week, $246 for every two weeks, or $539 per month. You will have the freedom to select which repayment amount suits your finances well.

Conclusion

Don’t fall if a lender claims that their loan will eliminate all of your financial troubles. The only way to solve them is earning and saving more money. Loans aren’t miracle workers. If you’re having trouble settling all your debt, taking another loan will only add up to your financial burden. But if applying for a loan is your only option, make sure you work with a lender that’s reputable and trustworthy – those that offer good loan terms and follow responsible lending. Don’t be afraid to compare loans from different lenders, this will help you find the best one that will suit your needs and requirements. Lastly, don’t hesitate to turn down a loan offer that’s sketchy and unrealistic.

What is a Balance Transfer?

At some point in your life, you might have encountered the term balance transfer. But what does it really mean? And what can it do for you? A balance transfer works in a very simple way, it is when you transfer money from one account to another. It is sometimes called a credit card balance transfer, which is considered as an act of transferring your own credit card debt to a brand new credit card for a much cheaper interest rate. This is often performed so a credit card can be paid off.

This post is brought to you by Perfect Payday – the leader in Payday Loans. Do you need a no credit check loan? If so, apply for one today by submitting your application.

Balance Transfer

A balance transfer is a process of transferring your credit card debt from your present lender to another one. This is carried out to enhance the interest rate or offer you a 0% interest-free period that will enable you to settle your debt within a specific time period. If you don’t settle your credit card within this given time period, you may face late charges and high-interest rates. Make sure you won’t fall under this cycle of transferring the debt to new credit cards. This is because balance transfers are usually logged on your credit report as a negative financial activity, which can damage your credit score.

Hidden Costs To Watch Out For in Balance Transfer

When selecting a new credit card that you can use for a balance transfer, there are hidden charges that you should watch out for, including:

  • Credit Card Interest Rate – though you might think that you are offered the best deal, once the interest-free period is an offer, credit card interest costs will knock you back to reality. And they can cost as much as 20%!
  • Transfer Fees – before you sign anything, make sure you check for transfer fees. They can reach as much as 3% of the total amount being transferred, making the repayment procedure even difficult.
  • Annual Fee – read the fine print and scan for an annual fee. Even if balance transfers advertise 0% interest rate for a specified time, this doesn’t mean that you don’t have to pay for anything. There are even times that the annual fee is more expensive than usual.

Buy Interest Rate

When you have your new balance transfer interest rate card, don’t use it to make new purchases. This is often a trap that many people fall for and as a result, the banks make more money out of it. The lenders or banks can charge as much as 24.99% of interest rate, so better be safe than sorry and avoid those unnecessary purchases.

Credit Card Revert Rate

Another trap that you don’t want to be part of is the credit card revert rate. It is the amount you are charged when your initial interest-free period is over and you still haven’t paid off all your balance transfer. Revert rates can increase from 7.9% to 21.99%. This should encourage you to pay your balance transfer in full.

What You Should Know About Balance Transfers

Balance transfers have their pros and cons and before you decide to use it for your advantage, here are a few things you should know about it.

  1. It Doesn’t Happen Overnight

A balance transfer can take up to 2-4 weeks. Once that’s done, keep your old card in a safe place and away from your reach, so you won’t be drawn in to utilize it. If you insist on using it within this period, you may face additional fees on top of your present debt.

  1. It Has Transfer Limit

Basically, the limit of your latest credit card needs to be higher than your transfer balance. Every lender or bank has different terms and conditions, so make sure you check it out.

  1. It Is Not for Everyone

Take note that everyone goes through different financial circumstances. It all depends on your individual financial situation whether or not a balance transfer is suitable for your present situation. Always remember that balance transfers are not for everyone and they don’t fit every financial circumstance that you encounter. It is still best to seek professional financial advice before you decide to apply for bank transfer.

  1. It Is Not the Only Financial Option

Balance transfers aren’t the only financial solution that you can resort to. In fact, if you want to settle your credit card debt or any other debt, a consolidation loan could be a great option.

Consolidation Loan

A consolidation loan is a personal loan that merges all your outstanding debts. Based on its name, it simply consolidates every debt that you have. This means that you will make one big repayment, instead of doing multiple ones. A consolidation loan may also have a cheaper and more consistent interest rate on all your outstanding payday loans. To simply put it, once you consolidate all your debts, they will be repaid using a single regular repayment. This means less stress, more budget control, and potential savings on additional fees and interest rates.

Things to Consider Before Applying for Consolidation Loan

Just like any financial decision, you should first ask for professional financial advice before you apply for a debt consolidation loan. After that, consider these things to determine if debt consolidation is right for you.

  • Affordability – when you apply for a payday loan in Australia, you should consider if it is more affordable to pay off compared to your outstanding debts. You should also find out if you are financially capable to keep up with the repayments of a consolidation loan.
  • Early Repayment Costs – there are consolidation loans that charge certain fees if you want to settle your loan earlier. It is vital that you consider the early pay off costs before you apply for a consolidation loan. In other words, if you are certain that you want to settle your loan earlier, see to it that despite these extra charges, a debt consolidation is still a viable option for you.
  • Legitimacy – above anything else, make sure you get your debt consolidation loan from a reputable, licensed, and legitimate lending company.

How Credit Scores Impact Your Ability To Get a Loan

When you have bad credit, you’ll find it difficult to get your personal loan applications approved. It can also affect your capacity to pay for car insurance, rent an apartment space, and secure a great service plan for your phone. If luckily you can take out auto loans, student loans, or mortgages, you’ll be given higher interest rates. These are just some of the negative impact of living with a bad credit report.

When you are in dire need of instant cash and you have zero assets to consider as collateral, the best alternative you can try is applying for a personal loan. You can secure personal loans from different financial companies, such as online lenders, banks, and credit unions. You can use the money that you borrowed for any purpose you have in mind, including weddings, home renovation, vacations, or medical procedures. Personal loans are instant cash loans and borrowers need to repay it with fixed amount each month. The loan terms for this type of loan can last for about 2-5 years. They are also considered as unsecured loans since they don’t require any form of collateral. Instead, borrowers are given approval based on their credit history and source of income.

If you are suffering from repeated loan rejections because of your poor credit rate, then try applying for a personal loan. They are easy to obtain and they offer instant cash flow for your emergency financial needs.

Bad Credit: Everything You Need To Know

There are three main credit bureaus: Equifax, Experian, and TransUnion. These institutions gather credit histories by monitoring one’s loan applications, payments, and other financial activities. All three depend on the FICO score – a three-digit number designed by the Fair Isaac Corporation to determine if you are worthy to be given credit and if you have the ability to pay back the loan based on the information on your credit history and other factors. Here’s how the FICO score works:

  • 300-579 = Poor
  • 580-669 = Fair
  • 670-739 = Good
  • 740-799 = Very Good
  • 800-850 = Exceptional

Another scale that’s popularly-used by lenders is the VantageScore credit system. Here’s how it works:

  • 300-599 = Bad
  • 600-649 = Poor
  • 650-699 = Fair
  • 700-749 = Good
  • 750-850 = Excellent

When you apply for a loan, lenders will carry out a credit check to determine your credit history and FICO score. They will look for certain information such as your outstanding debts and payment habits to find help them decide whether or not you are worthy to be given credit. Apart from this, lenders will examine your occupation and income, the amount you are planning to borrow and your suggested loan term. They will also review your credit rating. Before you borrow a no credit check loan, make sure you understand how all of these works.

How Your Credit Score is Calculated

Your credit score can go from 0 – 1,200 but it can vary from different bureaus. Here are the factors that affect the calculation of your score:

  • Debt
  • Spending habits
  • Number of credit applications lodged
  • Kind of credit applied for
  • Defaults on payment

A favorable credit score is around 622 to 725 and a very impressive one ranges from 883 to 1, 200. Any score of less than 600 is dubbed as a weak credit score. This low rating will give lenders the impression that you have irresponsible financial habits and you are a risky borrower.

Effects of Week Credit Score

The most obvious impact of having a weak credit rating is you will likely face rejection from lending companies. However, there are still lenders that are willing to provide loans to those with low credit, it only comes with high-interest rates.

Fixing Your Credit Score

Lucky for you, a credit score isn’t forever – it can still be changed. Though it can’t be done overnight, there are plenty of ways on how you can revamp your credit score, here’s some of them:

  • Pay off your outstanding debts
  • Settle your bills right on schedule
  • Minimize your credit applications
  • Maintain low credit limits on your credit card. For example, if your limit is at $5,000 yet you never managed to use it all up, request your lender to reduce it to $1,000 0r $1,500 instead.
  • Carefully check all information recorded on your credit report to ensure that they are all accurate. The last thing you wanted to have is a basic system error to lower your score.

Even if you can’t change all the bad spending habits you’ve done over the past years in just one night, it’s still a relief that credit score isn’t permanent. Changing your financial habits by settling debt, maintaining timely repayments, and limiting credit applications will all contribute towards increasing your credit score and cleaning your credit report. With this, you can be confident that you’ll get the best deals when applying for same day loans.

Are You Dealing With an Honest Lender?

If you’re thinking about taking out a quick personal loan but hesitating for fear that you may encounter shady lending entities, you should definitely decide against it. The last thing anyone with a financial problem wants is to be taken advantage of by loan sharks.

It is unfortunate that this is the reality that most loan customers face these days. All they want is to get immediate financial help but here are unscrupulous businesses ready to bleed them dry the first chance they get.

It’s sick. It’s revolting. It has to stop.

The good news is that you don’t have to fall prey to the charms and empty promises of some of these small loan lenders pretending they have the answer to your financial mishaps. You have the power to stop these businesses dead in their tracks.

The key is to carefully choose a lending institution that you can do with business with sans the dishonesty.

Sure, it is easier said than done. After all, spotting an honest small amount lender is no walk in the park. You’d probably end up spotting more shady ones than good.

Don’t lose hope, though. There are still honest and reputable small loan lenders out there and they are just waiting to be discovered. They will be more than happy to serve you in your time of need.

So, before you give up the fight, here are a few tips to aid you when on the lookout for small loan lenders that you can trust and do business with.

  1. Be wary of false promises 

If a small amount lender is claiming to offer instant cash loans without any hassle, be alerted right away. There’s no such thing as “instant”. Everything goes through a process, even the quick personal loans being offered by reputable lending firms.

Simply put, you can’t trust anyone who offers the cash you need instantly without having to go through the standard process of assessing your eligibility. If you encounter a lending institution that offers this kind of arrangement, do yourself a favour and walk away immediately.

Honest and reputable lending institutions will never claim to give you fuss-free instant loans. All they will offer are quick cash loans that you may avail of and get approved for upon completing all eligibility requirements.

If this sounds tedious to you, just think about how this will protect you as a consumer. By allowing yourself to go through a standard assessment, you will know exactly how the lending institution conducts its business.

  1. Be even more cautious about interest rates

The thing about unscrupulous small amount lending institutions is that, more often than not, their offers come with unbelievable interest rates. The “instant” cash loan may not come with rigid approval procedures, but it most probably comes with hidden fees or additional charges.

You will only know about it once repayment period comes. The unfortunate thing is, what if you will never know about it?

So, be on guard and exercise your math skills. Do a computation of the interest rates to see how they stack up against the principal itself.

Responsible lending institutions are honest and transparent with their dealings and will tell you straight up that their rates are capped as regulated by the government. This ensures your protection as a consumer.

  1. Do a background check

These days, it is easier to know more about lending institutions through their online channels. This allows for a quick background check to know the company in detail.

Take advantage of your stalking skills and dig a little deeper about the lending institution you plan to get a small loan from. Go beyond their website and check their social media channels, too, as there you can check for comments or reviews from previous customers.

  1. Explore your options

Don’t just pick out one lending institution. Select as many as you can possibly gather before choosing the right one that can cater to your need.

If possible, set up an appointment with each of them, so you will be able to talk to them face to face. This way, you will be able to read their body language and know if they are being true to their word or not.

By reviewing the credentials of more than one direct lender, you will be able to compare the pros and cons of each lender, and from there, decide which one is best to go for.

  1. Get advice from people you know

Consult with family and friends and ask for good recommendations on lending institutions. They may have done business with an institution that has a good track record.

This way, you speed up your screening process and apply a loan with a lending institution that has a history of doing honest business.

Keep these tips in mind when seeking a reputable lending institution to apply for a small loan from. It’s easy to be tempted when you are being offered with instant cash loans that won’t need any strict screening process.

However, don’t give in and exercise caution. Remember when repayment period comes, you can be rob off of your hard-earned money that you may or may not know you are freely offering as payment for incredible interest rates.

If quick application process is high on your list, you can still be able to do business with a reputable lending institution that allows for the fast yet transparent loan application process.

Perfect Payday, for example, offers a quick and painless loan application process for customers who need fast financial assistance.

To avail yourself of a Perfect Payday short-term loan, all you have to do is:

  1. Visit the Perfect Payday website and file your loan application online.
  2. Once you met all the eligibility requirements, your application will be processed within an hour of filing. It may take a little longer if other requirements are needed from your end.
  3. If your application is successful, you will receive an email with the attached loan contract for your signing.
  4. Once signed and submitted to Perfect Payday, you will receive your funds in your bank account the following business day or depending on your bank’s remittance policies.

The quick and hassle-free loan process is a definite must for anyone with immediate financial needs. However, keep in mind that it is also very important that you know what you’re getting into before sealing any deal.

This is why using Perfect Payday to get your payday loan makes sense. You will benefit from this consultation to help you gauge your financial capability to pay off your loan.

In addition, you will also get expert insights on how you can manage your finances more responsibly. This way, you can plan your actions more diligently when it comes to money matters, with the aim to ultimately gain financial freedom.

Be an advocate for responsible lending

By exercising caution when borrowing, you set a good example on others to be more cautious as well when dealing with small loan lending institutions. Not only are you helping yourself be more responsible, but you are helping others as well.

When everyone takes necessary precautions when borrowing, dishonest lending institutions will be out of business in no time.

Getting a Personal Loan for an Upcoming Move

Whether you are planning to downsize or upsize, moving comes with expenses that you can’t avoid. Good thing there’s an incredible alternative that you can turn to personal loans. These are short-term loans that will allow you to borrow at least $300 to $10,000. In addition to this, here’s how you can spend the money you obtained from a cash advance to help you during your future move:

1. Packing

If you don’t have any moving boxes to salvage, chances are you’ll likely purchase new ones. Though you can ask your family and friends for leftovers, you still need to buy extra ones. How much does moving box actually costs? Typically, it is around $5 but you’ll need to multiply that by at least 20 pieces and now you have to spend $100 on boxes alone. Another packing essential is newspapers. Unless you are a hoarder, you’ll need to purchase them to secure your belongings. Butchers paper or bubble wrap costs around $9 for every 50m. Though it’s not expensive, you still need to shed some money. Lastly, once all your items are packed and stored in boxes, you’ll need to hire movers to deliver them to your next home. This is another expense that you need to deal with, but with direct lender loans, everything is covered.

2. Repairs

Drawing from our experience, once you are done packing your things, you’ll discover areas inside your house that need repairs, such as the dent on the wall, leak under the sink, and other possible issues. No matter what damages are done, they all mean one thing: costly repairs. But if you have a $3,000 personal loan, nothing is too difficult to fix.

3. Cleanup

One horrifying thing about moving is the cleanup. Though you can always do it by yourself, you have a lot of moving shenanigans to deal with. If you are moving from a rental space, you also need to meet the strict standards of a bond clean. This calls for the expertise of professional cleaning service. Of course, service cost may vary according to the size of the space but typically, it ranges from $130-$150 to carefully clean a large house. With a no credit check loan, you can leave your old home in a squeaky clean state without worrying about finances.

4. Movers

As indicated by our tests, hiring movers is probably the most expensive aspect of moving. First, their charges are insanely budget-damaging. Their hourly rate starts at a massive $50 per person. And that doesn’t even include insurance and transport costs. The worst thing is, if your next home is in the interstate, you’ll likely pay a lot more. With these costly moving expenses, it pays to have a personal loan by your side when dealing with the movers.

5. Moving Insurance

There are moving companies that offer insurance as an extension of their services. However, insurance is not always enough to replace damaged items. Varying on the cover, you still need to apply for additional insurance. Once you do, be careful of the costs since they are equal to maximum coverage. The sad thing about this is you will not be given the maximum coverage that they owe you due to several reasons. In addition, you also need to update any existing insurance that your home has. All of these could cost you a lot of money but with a personal loan, you can get the financial aid that you need without any hassle.

6. Brand New Furniture

Based on our observations, this is not a must for everyone who is planning to move but you’ll likely purchase new furniture when you transfer to your new home. Regardless of whether you are downsizing or upsizing, chances are you’ll probably end up buying or swapping out furniture items. By applying for a personal loan, you’ll be able to get the couch that you need for your home and repay your loan gradually.

Instant Personal Loans

You can get as much as $300 to $10,000 in personal loans, even if you have a negative credit report. The application procedure is always easy and simple. In fact, you can finish it within a few minutes. All you need to do is to submit your application and it will immediately be assessed to determine if the lender can supply the money that you are planning to borrow.

Should You Apply for Personal Loan?

To find out if a personal loan is right for you, examine your present monthly expenses and other financial commitments, like mortgages, credit cards, and the others. If you are planning to apply for a personal loan to cover your moving costs, can you still pay off other expenses if you take an additional short-term loan? No matter how considerate lending companies are, they don’t offer financial advice so it’s up to you to determine if you are still capable of dealing with another loan.

Helpful Tips To Increase Your Budgeting Power

In an ideal world, you could be living the high life where money is no object. You could be spending on branded clothing, enjoying the company of your friends in some Michelin-starred restaurant, or taking a tour around the world with your family.

You are, however, living in the real world, where your current version of an ideal life involves living from paycheck to paycheck and thinking of more ways to stretch your budget. This is the reality most people face today, and it can feel overwhelming sometimes when you’re stuck with no money to even budget.

This article on budgeting is brought to you from Perfect Payday. If you need a cash loan to resolve immediate pressing expenses, apply for a loan with us. We offer high acceptance rate loans on a short term basis.

Of course, this isn’t always the case. There may be days when you have money to spare to buy you some new clothes or treat your family to a nice dinner. You may also have had those days when you can keep a few dollars to your savings account.

Should those days become rarer and you find yourself tightening your purse strings again, worry not. You know you can survive this, and all it takes is discovering new strategies to help you stretch your budget.

Sure, this is easier said and done. However, if you can adopt new ways to save some cash even when living on a tight budget, you may very well say that you’re living the high life—the kind that allows you to take control of your financial life.

Before thinking of new strategies to keep your budget afloat, it’s best to revisit why it is important to set a budget and stick to it no matter what.

Why budgeting counts

We’ve all been told that setting a budget is a must if we want to at least save some for a rainy day. Budgeting is more than that, though. It teaches you to be smart about money.
When you know how to budget your money, it doesn’t matter if you’re earning more or less. Think about this: you can be receiving a bigger paycheck than the average employee, yet you don’t always get to keep some cash due to excessive spending. Whereas an average employee earning half your salary can be enjoying more financial rewards due to smart budgeting.

This scenario is definitely a slap on your face, as this simply reflects how bad you are with money. Turn things around by setting a budget for yourself.

When you work out a budget for yourself, it allows you to be more responsible about how you handle money. It teaches you to plan smart and be more aware of your spending habits.

How many times have you kicked yourself in the head for spending on those Starbucks lattes every day? You may not think this is a big splurge, but when you do this every day and compute the money you spend on everyday trips to the coffee shop, you would be feeling sorry for yourself for not keeping the money instead to save you from a financial emergency.

This will not be the case when you set a budget and stick to it. When you follow a budget, you teach yourself to be more disciplined about spending, which can help you when times get tough.
With a set budget, you will be able to prioritize where your money should go. You can save more cash that you can use to get you through hard times.

With the money you were able to save due to smart budgeting, you would have the funds to cover big purchases in the future. Maybe you’re planning on buying yourself a new phone? You can do so in a few months or so because you have some savings to finance the purchase.

Simply put, setting a budget is a must for any individual. It’s the first step to becoming more financially responsible as an adult.

Ways to boost your budgeting skills

Now that you know how budgeting impacts your financial life, it’s time to think and long hard about how you can save more cash. This may sound impossible if you’re on a stretch all the time, but nothing is too hard to achieve when you put your mind into it.

If you’re having trouble thinking of new ways to budget and save money, these tips might be of help.

1. Know why you’re setting a budget

You’re setting a budget because you want to save more money so that you won’t be required to get a payday loan, but what is that money for? Know the purpose why you’re saving up, so that you will be more motivated to stick to your budget.
Maybe you want to go on a grand vacation someday? Thinking of buying a new home for the family? Whatever purpose you may have, keep this in mind all the time, especially when the temptation to splurge is too strong to resist.

If you don’t have some purpose behind your budget, you don’t have to think of one. Financial emergencies or unexpected expenses like paying for medical treatments are reason enough to kick your budgeting skills into overdrive. Nobody wants to be cash-strapped when the time comes that you have to spend for more important things.

2. Avail of discounts

People love shopping, but this more often than not leaves anyone broke most of the time. Shopping is not bad per se, and you can still do so even on a tight budget.
The way to do is to be smart when shopping. Why spend too much on clothes when you can get them at marked-down prices?

In short, avail yourself of discounts or shopping deals that will allow you to spend on some items you like without putting a dent on your wallet. These days, shops have discount offerings all the time, so it will serve you well to research when these shops may be having the next sale.

The same goes for food. You don’t have to dine out when you can prepare your own food. You can spend on food allowance whilst teaching yourself to eat healthier with the food you yourself prepared. It’s a good way to stay fit and healthy, as your wallet becomes fatter.

3. Stop using your credit cards

Or, just get rid of them completely. It won’t help with your budgeting when there’s a credit card lurking somewhere in your purse, luring you into endless spending.

If you can’t get rid of them, you may want to just use them for emergencies. Credit cards aren’t exactly evil; it’s how you use them that makes you bad or not. Be responsible about using your credit cards and just use them during urgent situations, like for medical emergencies or home repair.

When you avoid using your credit cards all the time, not only will you be able to budget more efficiently; you will also be able to avoid unnecessary debt.

4. Sign up for automatic saving

This is the best way if you can’t discipline yourself into setting aside a certain amount to save. Ask your bank if it can make automatic deposits for you every month. There are banks that allow this kind of arrangement to put aside an agreed amount every month to be automatically deposited in your savings account.

This way, you don’t have to worry about keeping some cash to save if you’re having a hard time doing so. You won’t have to rely on getting a personal loan to resolve your immediate expenses. The bank can do it for you, and you can rest assured it will not fail like you always do.

Include these tips in your current budgeting agenda to boost your chances of saving more. Remember that saving is possible even when living on a tight budget. All it takes is knowing how to budget smarter, which you can achieve when you instill some discipline in yourself.

Instant Banking, Is It For You?

At some point in your life, you might have heard of internet banking. It is an essential factor that binds cardless cash and mobile banking apps altogether. However, are you familiar with instant banking? Though it may sound like the same from the aforementioned, it offers a new approach. Instant banking is a latest payment scheme that’s hailed as the best solution for instant online payments. So how does it actually works? Read along this article to find out.

This article on instant banking is brought to you from Perfect Payday. We offer payday loans for people who need quick cash. If you need instant cash to help you with your immediate finances, apply with us today.

What is New Payments Platform?

Based on our firsthand experience, new Payments Platform or NPP is developed to reinforce fast payment transactions. It reconstructs the way you send your money. But of course, your payments can still be directed to account numbers and BSB, however with this new method, you can make other identifiers or “PayID” to make the process easier. PayID uses personal details like your email address or phone numbers as a way of identification during payment transfer. On top of that, this platform is open for transaction for 24/7.

Main Features of NPP

NPP has three main features that will affect how you process your banking and these are:

1. Fast Transfer

NPP offers businesses and consumers the chance to facilitate real-time transfers. You don’t have to wait for more than 3 business days for the cash to be transferred to your account. You can also facilitate money transfer anytime since NPP operates for 24/7.

2. Simplified IDs

With NPP, you don’t have to bother memorizing your bank numbers anymore since identification is made easier using PayID. It is a single identification card that is much easier to remember compared to old banking formalities.

3. Lengthy Transfer Descriptions

It is difficult to fit all your transaction description in less than 30 words, especially if it involves business. Thanks to NPP, you can now have longer transfer descriptions since they increased their character limit. You can now take advantage of approximately 280 characters, emojis included.

What is a PayID?

Basically, your PayID won’t replace your account number or BSB. Instead, it is simply the addressing service of NPP. For example, you went to dinner with your friends and you want to pay the bill, everyone can just transfer their share to your PayID. You don’t have to remember your banking details anymore and let everyone know so they could send you their share. PayID eliminates that hassle! When you are done setting up your PayID, all you need to do is distribute the identification form to your friends for the transfer. On top of that, you’ll also get the payment in a real-time setting and you don’t have to wait for how many days anymore or suffer from banking delays.

Setting Up Your PayID

Our findings show that, you can make your PayID by joining an online or mobile banking service from financial companies. But you need to visit their website or reach out to them directly if you have no idea how to set up a PayID. When it comes to the form of identification that you can utilize for setting up your PayID, you have plenty of options to choose from. The majority of people who do so use their phone number or email address because these are the most convenient identification details to acquire. In the case that you have multiple accounts with various financial providers, take note that you can only connect your PayID to one account. This being said, you need to set up numerous PayIDs if you have many accounts.

As a reminder, you can get a cash advance loan from Perfect Payday. Apply today if you need quick cash and you have an income.

Is PayID Safe To Use?

Based on our observations, online payments are always exposed to several risks including identity theft, abuse, and fraud. With regard to this, PayIDs can only be set up via your financial company’s online banking platforms. This means that your PayID is secured by the similar security measures used in protecting your internet banking details. Moreover, the only transaction that can be made using your PayID is money transfer. Someone can only utilize it for putting money into your account but they can’t take anything. However, if you are still worried, you can always reach out to your financial provider and consult them for advice.

Osko

Osko is the pioneer of the first-ever overlay service to use the NPP ever since it was released. It is developed by the makes of BPAY and it enables you to facilitate money transfers to family and friends in a real-time manner. Osko is also linked to multiple bank accounts, just like BPAY. To make the most out of your instant transfer benefits, you can choose the Osko option when facilitating money transfers.

NPP redefines the traditional way of banking and offers a new approach to money transfer. By far, it is one of the fastest, simplest, and safest way to transfer funds. It doesn’t need rigorous paper works as well.

Thank you for reading our article on instant banking. If you need an instant cash loan, apply with Perfect Payday today. We can likely get you a loan if you have an income.

How Positive Credit Reporting Impacts Your Life

Assessing customers for their eligibility for a loan or credit card involves taking a look at their credit report to gauge their qualification. These days, lenders are required to check for the overall creditworthiness of a customer that doesn’t focus solely on their past incapacities. This has become possible today, thanks to the existence of positive credit reporting.

Positive credit reporting has indeed changed the way loan application assessments are done and has given customers easier access to financial help whenever they need it. Credit reports, however, remains to be understood by the public for all their pros and cons and what power they hold that impacts one’s life.

Let’s take a look at what credit reporting is, the advantages it provides, and what you can do in case you have been reported to have a bad credit history.

What is a credit report?

In essence, a credit report is your financial history. It provides a summary or record of all your personal loans, credit cards, and the payments you have made to pay off these obligations. It also includes all the repayments you have missed on the same.

Previously, it was mandatory for lending institutions in Australia to provide a record of a customer’s negative credit events, which include missed repayments or defaults. This was to allow future creditors to gain access to a customer’s financial history.

When a negative event is listed in your credit report, it will usually remain in your record for up to seven years.

Negative and positive credit reporting

However, the problem with this setup was that creditors would only get to see the negative credit events of a person’s financial history. The worst part was that these negative events became the deciding factor when assessing a customer for loan or credit card eligibility.

This was the reason why in July 2018, it became mandatory for all creditors to record the positive credit events on a customer’s credit history as well. This is to encourage lenders to base their assessments on the overall financial history of a customer.

The rationale behind this development is that the financial capability of a customer can change overtime, thus assessment shouldn’t focus mainly on a few missed payments or defaults.

How positive credit reporting works

Also known as Comprehensive Credit Reporting or CCR, positive credit reporting basically mandates creditors to record all positive credit events in a person’s credit history. This includes all repayments on loans or credit cards that have been made on time and in advance, as well as larger payments that were committed.

When before only negative events impact a person’s credit score, the inclusion of positive credit events has changed the game entirely to allow customers to have better credit ratings. As repayment histories are now recorded as well, you can expect your credit score to reflect your good credit behaviour.

Your CCR has a shelf life of two years and can be accessed only by banks and private lending institutions with an Australian Credit Licence accreditation. Once you apply for a loan or credit card, they can access your repayment history to assess your eligibility.

How you can benefit from positive credit reporting

By gauging loan eligibility from a direct lender based on a comprehensive financial history, this allows customers to have more confidence in accessing financial assistance from lenders, banks, credit unions, and other credit providers.

In detail, these are the advantages that you can derive from a positive credit report:

  • You can expect a more accurate credit score that reflects your overall financial history.
  • You can gain access to more information about your creditworthiness.
  • Should there be one or two defaults or missed repayments on your credit report, you no longer have to worry that this will affect your eligibility to get a high approval rate loan. Lenders will base your creditworthiness on more positive credit events that are listed than the negative ones.

With all the benefits that positive credit reporting provides, it is important that you have an idea of your current financial standing by availing yourself of your credit report. This way, you will know your overall financial history and check where you need to adjust to improve your credit rating.

Where to get your credit report

These days, it is easy to gain access to credit reports through reputable reporting companies. The good news is that some of these companies offer credit reports for free.

You can get yours either from Equifax, Experian, or illion. These are Australia’s three main reporting companies.

These companies can provide you with a credit report that you can instantly access through their online channel for free. The free online credit report from one of these credit reporting agencies is offered once a year and posting usually takes about 21 days.

Should you want your credit report immediately, you have the option to pay to get access to an instant download.

Where to check your credit score

Like credit reports, credit scores can also be accessed online for free. In Australia, you can reach out to online providers that offer credit score checks for free.

Some online providers you can access for a free credit score check include:

  1. Getcreditscore – to know your credit score from Equifax
  2. Finder and Creditsavvy – for free online credit score from Experian
  3. Credit Simple – to check your credit score from illion
  4. WisrCredit – to know your credit score from Equifax and Experian

Customers are encouraged to consider not just one online provider to check for their credit scores. It is best to access multiple online providers to know your positive credit score and get an idea of your overall financial standing.

How to evaluate your credit score

Once you get hold of your credit score, it is important that you examine your credit rating in greater detail to know where you stand financially. Your credit score is determined based on the following information:

  1. Credit card accounts
  2. History of monthly repayments
  3. Credit enquiries made
  4. Length of credit history
  5. Court judgments

These details are what you can also expect to see when you receive your credit report, which also provides information on your employment history, as well as your name, birthdate, and residential addresses.

Based on this information, your credit score will be measured against a scale of 0 to 1200. Having a credit score of over 620 means you have a good credit history.

Ways to improve your credit score

Should you have a bad credit score, take comfort in the fact that you can still improve it. Here are some steps you can do to improve your credit rating:

  1. Make a conscious effort to pay your bills and repayment dues on time or in advance. If you can afford it, make a larger payment.
  2. If you find it difficult to keep up with your payment schedules, you can opt for direct deposits or debit arrangement with your bank.
  3. Update your contact details, particularly your residential address, with your lender.
  4. Avoid applying for payday loans from one too many credit lenders
  5. Only apply for loans or credit cards in times of need

You can also adopt these steps when you want to further improve your credit rating, even if you don’t have a bad credit history. This ensures that you get that positive credit score the soonest way possible.

How to get financial help on bad credit

Should you need financial assistance immediately, don’t let a bad credit score get in the way. Even if you don’t have that positive credit score yet to back you up, you can get financial help from reputable lending institutions that offer quick personal loans for people with bad credit.

Perfect Payday, for example, can help you get access to the funds you need. The company offers bad credit loans for customers with poor credit ratings, without requiring any asset or security as collateral.

Getting help from Perfect Payday for an unsecured quick loan can also help repair your credit rating. When you pay your dues on time or in advance, this will be reflected on your credit history, which in turn, boosts your credit rating.

When the time comes that you need a larger loan from another lender, they will refer to your credit history and base your assessment on your good credit behaviour.

To know more about positive credit ratings and how Perfect Payday can help you, contact Perfect Payday today to get a quick assessment.

House Buying Guide for Millennials

Purchasing a house is a huge decision and as much as possible, you wanted to be prepared until the very last step. This article offers a quick guide for millennials on what factors they should consider when buying a house:

  • Set Your Budget: By mapping out your present income and expenditures, you’ll be able to determine how much you can afford.
  • Find Out What You’re Entitled To Review government-funded initiatives to know if you are eligible for programs such as first home buyer schemes or grants.
  • Determine How Many You Should Take Out: Find out how much borrowing limit and repayment you can keep up.
  • Develop a Savings Plan: Establish an attainable savings plan according to your budget, potential home loan, and entitlements.
  • Look for The Ideal Home Loan: Reach out to your chosen lender and apply for mortgage – you need this before you can buy a house.

This article is brought to you by Perfect Payday. Do you need a quick cash loan? Apply at Perfect Payday today and get a short term loan that will tide you over until your next paycheque arrives.

Pursuit of a New Home

Once you’ve planned everything out, here comes the fun part – home shopping! You already have your finances and budget set in place, it’s time to find out what type of house you can afford. Of course, you already have an idea of what kind of house you want to live in. If you already set your heart to a specific suburban area, chances are you also aligned your savings and budget around this option. However, it won’t hurt to have other range of options as well. Look around for potential homes around the area that you like, who knows, maybe you’ll have a change of heart.

Why Home Inspections Are Essential?

Now that you have covered the areas that you want to live in, contact various real estate agents about the type of house that you are searching for. The job of real estate agents is to sell houses, so it’s great to work with them and compare their options to your own. Once you’ve found the property that you love, make sure it’s not in shamble. This is very important if you are planning to move right away. Here are some inspections that you should do:

  • Electrical inspections
  • Strata inspections
  • Pest inspections
  • Property or land surveys

These inspections might cost you around $200 but it’s worth your money since it will save you from thousands of financial expenses in the future.

Make an Offer

Inspections are done, now what? Basically, it’s time to make an offer. The important thing you should remember when negotiating for price is to create a leeway bracket for yourself. If you badly wanted the house, then you should be versatile with your offer. You shouldn’t go way beyond your budget but you also don’t want to lose the bidding for your dream home. There are two methods on how you can create an offer for a house: auction or private sale. Private sale is when you buy a house straight to the real estate agent or owner of the property. On the other hand, auction is when potential buyers come together in one place and bid for the house that’s for sale. You can choose which method will work best for your interest.

Facilitate The Legal Work

So, you’ve found your perfect home and your offer has already been accepted, what will you do next? You wi-ll forward to contract signing. It is a vital step so you need to read the fine print carefully before you sign anything. Ask for questions and clarifications if you find some information unclear. This is also the best time to raise any changes to the contract, if you wish to alter anything. This calls for the help of a lawyer so make sure you got one by your side before you sign the contract. Generally, there are two kinds of contracts that you will encounter: conditional and unconditional contracts. Conditional contract will state that the sale of the house is only effective once certain conditionals are fulfilled. On the other hand, unconditional contract will state that the deal is effective once the contract is signed.

Apart from the contract, you will also come across conveyancing, which is the transfer of property title from the owner to yourself. For this particular legal work, you will need a conveyancing expert or solicitor to help you with the entire process. Expect costly service fee but they will guarantee that everything will go without any hassle.

Settlement and Home Sweet Home!

Legal works are done, now time for the final step – settlement day! You will meet up with the owner of the property to exchange your money for the title of ownership, then the house is yours. Congratulations you just purchased your first home! This is a huge achievement that required effort and planning, so don’t forget to give credit to yourself. Home sweet home!

Occasionally, everyone gets in a tight financial situation. If you find yourself unable to make it until your next paycheque without financial assistance, consider getting a payday loan from Perfect Payday. We can give you a quick decision as to whether your loan request is accepted.

5 Steps To Survive Bankruptcy

The worst event that could happen to anyone is filing for bankruptcy. Whether you’ve gone through this or are still reeling from its effects, it does feel like the end of world when you have to declare that you’ve lost everything and could no longer sustain the life you used to have.

On top of the financial loss you have to face, you have to live with the stigma that is associated with your name. You have to endure the fact that nobody may want to take a risk on you for any employment or business possibility.

This is the reality you have to contend with day in and day out, and sure it sounds unbearable. However, there’s life after bankruptcy and all you have to do is start believing that it is not one problem you can never survive.

In fact, it may very well be the game changer you need to re-examine your life. You may even draw from the humiliation and isolation you experience to create life-changing decisions that will put you and your family in a better place than where you were before.

The positive impact of bankruptcy

Losing your assets and everything you’ve worked hard for will never be easy to take. Along with that is the fact that your family’s wellbeing may be put at risk.

Bankruptcy is absolutely damaging for anyone involved. It destroys your reputation, the life you’ve built, and the future you’ve been working so hard to achieve for yourself and your family.

It may sound unbelievable, but anyone can bounce back from bankruptcy. You can recover from it and its effects.

As with anything in life, nothing is permanent, not even bankruptcy. The only thing constant is change, and bankruptcy is one event in your life from which you can learn a lot from, move on from, and use to your advantage to rebuild your life.

When you really think long and hard about it, the effects of bankruptcy aren’t all that bad. Being in this situation will prompt you to analyse the decisions you have been making money-wise and what led you to end up losing everything.

What you can draw from this bankruptcy experience is wisdom. You learn from your past mistakes and use what you know now to avoid getting into financial trouble again.

When you learn from your past financial missteps, you will be able to think of better ways to recover from your situation and reconstruct a new and better life for you and your family.

This is not to say, however, that everyone should go through bankruptcy to experience epiphany. It is just one event from the many more that you may experience to take back control of your life. You can use this one experience, though, to see where you can better improve as a decision maker in terms of financial matters.

What you can do to recover from bankruptcy

When you’ve accepted your mistakes and resolved to bounce back from bankruptcy, you can think of strategic steps to ensure it won’t happen again.

Here are some suggestions for you to consider to help rebuild your life after bankruptcy and ensure a better financial future for you and your family.

  1. Make a list of potential reasons that put you in this situation

What led you to go bankrupt? Ask yourself this question to help you retrace the steps you’ve taken in the past that contributed to your financial downfall.

Reasons vary when it comes to bankruptcy. Statistics from the Australian Financial Security Authority reveal that most individuals who get bankrupt may either be due to unemployment or loss of regular income. Other factors may include gambling, legal or medical issues, and credit irresponsibility.

Companies, on the other hand, face bankruptcy due to economy-related factors, failure to keep track of financial matters, and excessive withdrawals, amongst other reasons.

Either one or two of these reasons may have contributed to your bankruptcy, and it is imperative that you pinpoint exactly what you may have done wrong and why things got out of hand. It is important as well that you take note of the steps that you should have undertaken to cushion the impact of your wrong decisions.

By identifying the missteps you’ve taken, you’d be able to know what caused your bankruptcy and make necessary precautions to prevent it from happening again.

  1. Get a quick loan

This may sound impossible given your present situation, but it is definitely possible to apply and get approved for a loan even if you’ve declared bankruptcy.

There are established and reputable lending institutions that offer direct lender loans to individuals no matter their credit background. Perfect Payday, for example, provides quick personal loans to customers despite their poor credit ratings.

Whilst Perfect Payday doesn’t disregard the importance of credit histories, the company doesn’t solely base its decision to grant you a loan on this single factor. It takes into consideration your financial capability to pay and your desire to meet your financial obligations in a timely manner.

This means, despite being bankrupt, you can take comfort in the fact that you can get financial assistance in this time of dire need. You can rest assured you will be given a fair and honest assessment of your eligibility to be approved for a loan.

You may ask how you could even pay off this particular loan if you have already lost everything or this will only put you under more debt. The simple answer is, Perfect Payday will conduct a thorough assessment of your financial situation and check your potential to pay off the loan.

As quick personal loans have a short repayment period, you will have time to recover financially whilst making sure that your basic needs are met.

A quick short-term loan may not be the answer to your bankruptcy problem, but it can help you get through everyday life by giving you access to immediate financial assistance.

Rest assured you won’t be buried deeper in debt as short-term loans have capped interest rates, which means there are no additional charges or hidden fees.

  1. Start making financial-related changes

Often, people tend to be complacent when it comes to their loan repayment obligations. This may be one of the reasons why they couldn’t get out of debt.

So, avoid this habit and start making changes in the way you handle your financial responsibilities. Post-bankruptcy, you have to be more responsible in paying off your personal loans by making sure they are paid off on time. This also goes for any other bills you may have.

Implementing small changes is the first step to recovering from bankruptcy. Even as simple as paying bills on time can make a big impact on your survival.

Moreover, making sure that you now pay your dues on time helps rebuild your credit reputation. Lending institutions will take into consideration the efforts you’ve been making in improving your credit score, which ultimately improves your credit history so that in the future if you need to borrow money, you’ll qualify for better-than-a bad credit type of loan.

  1. Know where you are financially

After bankruptcy, it is crucial to your survival that you know current financial position. This is possible when you check your credit report.

A credit report lists down all the bills, loans, and credit cards you have and the efforts you’ve made in repaying your dues. In short, it gives you a quick summary of all the borrowings and repayments you’ve made in your whole life.

With your credit report, you will be able to know your credit score as well. Also, you’d be able to check your record to see if every debt written there is yours and make necessary steps to amend this mistake.

  1. Discover the benefits of budgeting

After a bankruptcy, you now want to be wiser in the way you handle money. You can do this by setting a budget and sticking to it no matter what.

Be realistic when creating your budget and make sure that you only spend for the things that are important.

Setting a realistic budget allows you to revisit your spending habits and make necessary changes in altering them. This way, you’d be more responsible when making purchasing decisions.

Use these steps to help you recover from bankruptcy. Remember that you can survive whatever financial challenges you encounter as long as you resolve to instill discipline and responsibility in yourself.

About the Author

Lucy has over a decade of experience in finance. She is currently the content curator here at Perfect Payday.

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