Month: February 2020

Christmas is just around the corner and if you are like most people, you probably haven’t begun thinking about Christmas gifts yet – or saving funds to buy them. As Christmas trees are raised, lights illuminate, and carols fill your ears, there’s no denying that you have Christmas expenses to manage. During this festive season, these effective money-saving tips will help you get the most of your money’s worth.

These tips for saving money at Christmas time are brought to you by Perfect Payday. We are a loan company in Australia and can help you get a payday loan. Apply today for a loan and get a quick decision. If your request is accepted, we will send the cash immediately to your bank account.

Where to shop this Christmas to get the most bang for your buck?

If you want to save money this holiday, take advantage of Christmas sales offered at department stores and outlets. Don’t know where to shop? Here are several stores that drop their prices even lower during the Christmas season.

1. Kmart – known for its cost-effective products, this department store will even lower their prices, making them an incredible place to shop all the things in your Christmas shopping list.
2. David Jones – more appropriate for older members of the family, David Jones have Boxing Day sales every year. Plus, their products will have an even affordable price once Christmas season approaches.
3. Target – just like Kmart, Target is another department store that sells almost anything that you can imagine. Take advantage of their 50% off clearance sale this Christmas season and save a lot of money on your shopping.
4. Myer – together with David Jones, Myer also holds huge Boxing Day sales that start on Christmas Day. The sale will be happening on their website and if you haven’t finished your Christmas shopping yet, you can simply visit their site and shop in the comfort of your home. No need to go out and stress over traffic and crowded shopping areas.

These are some of the stores that hold the biggest Christmas sales this holiday season. Visit them to save a generous amount on your shopping expenses.

Tips on how to save money this Christmas

If your problem starts and ends with your limited bank account balance and sales aren’t enough to get you through, here are some tips on how to save money this Christmas.

1. Do a pre-Christmas cleanup – go through your old stuff from last year and salvage anything that is still in good condition. This doesn’t mean that you have to sell every gift that you received last year that you aren’t fond of. Simply do a general clean-up of all the items that you no longer use or need. You can put them up for sale online or do a garage sale to earn some cash.
2. Create a list and double-check it – curate a list that contains every item that you don’t have to buy. It could be anything unnecessary. Make another list of all the people that you need to buy a gift and the allocated budget for each. Once that’s done, move to list down the needed entertainment supplies such as Christmas crackers, drinks, groceries, and the like. If you are traveling with the whole family this Christmas, make a list of all your expenses as well. This will include airport parking, petrol (if you are driving), and travel insurance.
3. Use DIY wrapping paper and Christmas cards – wrapping paper and cards are usually get thrown out of the trash on Christmas morning. Don’t shed some cash on things that will just end up in the dumpster, instead make your own Christmas cards or hand-written letters, and get several plain papers and customize your gift wrappers by drawing on them. After all, it’s the thought that counts.
4. Share tasks on Christmas day – reduce your work on Christmas Day by sharing it with everyone. This includes assigning dishes and snacks to various people, purchasing only the essential things that you need, shopping at supermarkets that offer the lowest Christmas price, and using loyalty cards.

Simple and Easy Christmas gift hacks

Here are some ways to let your loved ones know that you care for them without stripping off your wallet:

1. Hand-made vouchers – gift them with handcrafted, redeemable vouchers for services such as dinners, picnics, bed-making, or massages.
2. Pre-loved gifts – visit second-hand or vintage stores to look for the best Christmas gift for your family and relatives.
3. Be prepared – start Christmas shopping earlier if you don’t want to panic when the actual holiday season arrives. Take advantage of the biggest sales that you will encounter so when December hits, you’ll be completely prepared.

Use these tips to cut down a lot of money on your Christmas expenses. Though it is the most festive season of the year, it’s also the most burdensome if you are short in cash.

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When it comes to your kids, you want nothing but the best for them. You send them to top-rated schools and keep them cozy and entertained during the holiday break. It’s common knowledge that when you have children, it’s expensive to take care of them – especially if they are in school. But despite this, nothing beats the happiness and joy these little ones give to you and your entire family. To combat financial stress brought by school expenses, here are some smart money-saving tips you can use.

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To save a significant amount of money on back-to-school expenses, it is vital to determine what these costs are. Below are the priciest expenses that you will face at the beginning of the school year:

• Uniforms
• Stationery
• Textbooks
• Extra-curricular activities
• School contributions and fees
• Transport fees: petrol costs or bus money

These expenses are mandatory unless you want to send your children to school using a paper bag and let them write on a piece of cardboard. But of course, no parent would ever want that. To help ease your budget and cut down a few dollars off of these expenses, here are some tips that can help you.

1. Look for things that you already have – rummage through everything that you have at home and gather all the stationery and books of your children. With this, you don’t need to purchase things you still have.

2. Purchase the important things only – there’s no need to purchase a brand new uniform for every single day. You just need at least 2-3 pieces of uniform and your children would have enough for the week.

3. Divide the costs wisely – don’t buy unnecessary things until you need them. This will help you prevent spending a large sum of money on things that will just sit inside your home until they are needed.

4. Purchase big clothing – no, this doesn’t mean that you have to buy gigantic clothing pieces for your children to save some money. Instead, when you buy clothes and shoes, make sure that they are half a size or a bit bigger than the actual size of your kids.

5. Buy second-hand school items – whether its textbooks or uniforms, buying second-hand items is an incredible way to save money.

6. Don’t bring your kids when you go shopping – shopping for back-to-school items with your kids is an expensive move. Kids have their way of persuading parents to buy things that they want but are unnecessary. To save yourself and your wallet, let them stay at home instead.

7. Don’t purchase high-end stationery – though they look cute and pretty, they are usually the first ones that get stepped on and damaged so cross them out of your list. Take note that pens and notebooks don’t have to be expensive, as long as they serve their purpose for your kids, they’ll work.

8. Label your children’s school things –From backpacks, water bottles, and pencil cases to textbooks, uniforms, and lunch box; everything that your children brings with them to school. With this, they’ll be returned to you in case they get lost so you don’t have to buy another one.

Tips on how to save money throughout the school year

Once you are done with the initial purchases, you need to manage the ongoing school expenses of your kids next, like transportation, school lunches, and extra-curricular activities.

If your kids take the bus or any public transport to school every day, see to it that they use a concession card to avail of cost-efficient fares. Concession cards cut the price of the rides in half among kids. Some schools offer a scheduled school bus service, so you might as well reach out to your school and arrange the perfect transportation option for your children. On the other hand, if you are a super dad or mom and you regularly fetch your children to school, hands down to you, and here are several tips on how you can save money on fuel:

1. Supermarket discount vouchers – once you drop your kids off to school, you’ll probably head over to the supermarket next. Keep all the receipts that you have since they can cut down a few cents off your petrol cost.

2. Rewards cards – get a credit card or petrol rewards card. They offer huge discounts of as much as 7 cents for each liter of fuel, as well as gift cards, flyer points, and cashback for every point earned.

3. Drive smart – accelerate smoothly, don’t bring unnecessary weight, eliminate roof racks, close windows when driving on the motorway, follow the speed limit, turn off the air-conditioner when not needed, and regularly check tire pressure.

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When you talk about collateral, it’s something that you use against a loan. For example, you borrow a certain amount and agree on the contract that your loan provider can take your property and sell it, to cover for the amount that you borrowed in case you are unable to pay back the loan. At some point, collateral gives you better chances to secure huge loans and increases your loan approval rate during tough financial situations. When you present collateral, the loan provider will face less risk, thus you will be given a better loan offer.

This article is brought to you by Perfect Payday, and while we don’t offer collateral loans, we do offer loans that do not require collateral. Apply for a Perfect Payday loan today.

How does collateral works?

Drawing from our experience, borrowers are usually required to pledge collateral if the loan provider wants to have a sense of security that they won’t easily lose the money that they lend. Once you present a valuable item as collateral, the loan provider has every right to repossess the collateral, sell it, and make use of the earnings to repay the loan – in case you default. However, as much as taking away your asset sounds good, loan providers want nothing but to get their funds back. Suing you is never on their agenda, that’s why they try to utilize collateral as a way to protect themselves.

Different kinds of collateral

Any valuable item that your loan provider and the law considers as collateral, can be treated as collateral. Generally, loan providers favor valuables that are quick to value and convert into cash. For example, the funds in your savings account are excellent collateral. Loan providers instantly know how much it costs and it’s very easy to get. Other popular forms of collateral are the following:

• Real estate
• Automobiles
• Insurance policies
• Cash accounts
• Collectibles and valuables
• Future payments from clients
• Equipment and machinery investments

You can still use your assets such as your residential property as collateral even if you’re planning to secure a business loan.

FAQs about Collateral

1. Is it possible to pledge my land as collateral on a certain loan?

Certainly. You can use the equity in your land to construct your dream house!

2. What is land equity?

Generally speaking, land equity refers to the difference in the value of your land and the amount that you owe on it. For instance, if you sell your land, the land equity would be the money you have left.

3. Can I use my land equity to fund the construction of my house?

Yes, there are loan providers that provide approval for a construction loan that comes with land equity, depending on the value of the land during the loan procedure. Some loan providers will offer to loan you as much as 80% of your equity.

What is a construction loan? And how does it work?

Our findings show that, construction loans are a popular loan as the type of loan that is challenging to apply for since they come with a lot of factors and it involves numerous people. To apply for a construction loan, you need to submit a copy of your construction or building tender or quote and your proposed construction plans for the house. The loan provider will assign their valuer, to sum up the value and price of the property once the construction is done. Once they see that the appraised rate is good, the loan provider or bank will approve the loan.

Drawbacks of land equity construction loans

The major drawback when it comes to applying for a land equity loan is borrowing power. The banks take advantage of the value of your land together with the price of construction as the financial purchase value. This means that when buying land, make sure you do your research to find out if the amount that the seller is presenting is close or less than the land value. Here are some essential questions that you have to ask:

• Is this a great location?
• What is the size of the land? If the land is too large, you might decrease your chances of finding a loan provider.
• Does it have access to electrical, sewer, and water services?
• Does the property have road access?

Our research indicates that, if you are a landowner who has invested a lot of money on it, then you’ll have enough land equity when you decide to build your home. But, if you want to build right away, your savings is a much viable option since it won’t require you to apply in the bank to redraw the funds via your equity.

Do you need a quick loan and are unsure where to apply? Get a cash loan from Perfect Payday today. We will give you a quick decision on whether your application is accepted.

The key to using your land as a form of collateral is to research the location and value the land before buying the property to guarantee that you will get an exceptional deal. With this, you’ll be able to acquire the money that you need to construct your house and pledge the land as collateral.