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It’s time to get your financial life together

Whether you're facing a big-life transition like getting married or just trying to figure out how to pay your monthly bills, you should stop scraping by and get your financial life on the right track.

Latest Posts

Lead a money smart life. Shape a better financial future for your personal and professional finances.

11 Jan

5 Ways You Can Use Your Business Loan

If you are planning on getting a business loan and want to know if this is the right thing for you, the best thing to do is learn about them first. Business loans are important strategies that entrepreneurs use to nurture their business. Business loans are usually being offered by banks and licensed lenders. It is seldom being offered by small financial institutions that offer loans. We all know that a business, especially start-ups, can often bleed financially when it comes to supporting its operations. Business loan is a great way to use to financially support any business expenses. Here are a few ideas from which you can use your business loan from the top Singapore licensed moneylenders. The list can become endless as there are so many things that entrepreneurs can do to support their business.
  1. Increasing the capital of the business.
One important factor that investors look into is the capital of the business. Business capital is what determines how big the business is, currently. It provides an overview to the investor the value of the company. As a business owner, when you need investors for your business, increasing your capital would be a good way to attract them.
  1. Expanding to other geographic location
Building offices in offsite areas, especially in places where the business has no presence, can be a very expensive move. Construction costs and permits would already be significant enough to give a financial impact. Getting the proceeds from a business loan can help soften the impact by spreading the expenditure across a number of years or the loan period.
  1. Increasing your inventory or services
Going for more revenue, you would need to increase the product that your customers are buying. You can do this by increasing your inventory if you are in retail and manufacturing or services. Growing your revenue comes at a cost of sales.
  1. Marketing strategy
Getting your products noticed for customers to buy will need presence. Although marketing can be done through social media and other online materials, there are still certain items where cost will be significant for promoting your business.
  1. Hiring more manpower
Increasing your employees can help you meet more demand. This can definitely be a stepping stone in growing your business.
11 Dec

5 Ways to Plan Your Personal Loan

If you’ve been thinking about getting a personal loan in buying stuff so as sequin dress and how it would benefit you, reading through this article would be the first step. Understanding the situation you will be placing yourself in is one of the most important things you should always be doing especially if the decision involves your financial status. Personal loans are great tools that can contribute to your financial goals. Of course, you need to make sure that the strategy you will be creating is properly planned and well thought of. Getting a personal loan isn’t as simple as applying for one. You may get approved but you need to have a plan on your side to ensure that the financial strategy you are taking will be an effective one. Here are some simple ways you can plan for your personal loan.
  1. Make sure you have a goal for your loan proceeds.
Not having a goal is like going outside your house without a destination. It directs you to wander aimlessly and waste precious time. It is the same with applying for a personal loan. If you are missing a goal, you waste more money by paying interest fees for the borrowed money that you don’t really have a goal for.
  1. Go back and learn your basic math.
If you will be having a goal for your loan proceeds, you should start reviewing your basic math. You should be able to understand how to compute the interest and the amortizations. Know how much you need to pay and how much you can avail of with your current available funds.
  1. Get a planner, wall calendar, and download an app reminder.
Once your loan starts, you need to make sure that you do not default from your obligation to pay. Always have a reminder for your due date and ensure that you pay on time to avoid any effect on your credit standing.
  1. Identify the source of your payments.
Make sure that you have plan where to get the money to pay your monthly amortizations. Create an emergency fund in case you lose your income from losing your job.
  1. Keep in touch with your lender.
Make sure that you are in touch with your personal loan lender. You will need to have someone to consult once a situation arises that involves your loan.
11 Nov

5 Ways to Plan for Your Payday Loan

Getting a payday loan is one of the most criticized actions you can take when people find out about it. First because of the negative reputation that payday loans have in our society. Second, it reflects how we handle our finances. But statistics have shown that most of the working people have considered taking one. Going short on income in covering your monthly expenses happen to almost everyone at some point in their life. And as bad as payday loan’s reputation is, it can actually serve its purpose in bridging the gap between income and expenses. Here are a few tips to plan for your payday loan.
  1. Research for the best payday loan lender.
If you are considering to get a payday loan, consider checking out all those payday lenders that you find online. Research about their business and validate their eligibility to operate as an online lender. If you are not comfortable doing your transactions through the internet, visit their physical store and talk to your best reviewed licensed money lender representative.
  1. Compare lenders that you find.
One way of planning your payday loan is to make sure that you compare your payday lender. It is necessary that you are able to find a lender who offers the best service. Check out their offers and promotions which might be beneficial to your situation.
  1. Learn the terms and understand the penalties and fees.
This one is essential to take note of when getting a payday loan. Terms and conditions on penalties and fees are often missed. The problem with a common borrower is the focus on the cash proceeds not on the obligation. This is why most of the people who borrow from payday moneylenders list roll over their loan and sometimes end up in a spiraling debt.
  1. Identify how to repay your loan.
One of the things you need to keep in mind is that your loan is an obligation you need to fulfill. Repaying the loan amount is what you need to do and you should know how you will do it. Once you identify how it is, stick to your plan.
  1. Revisit your plan.
When you think you are ready to make the loan, make sure you revisit your plan before you actually take the step of applying for one.
11 Oct

5 Ways to Plan for A Business Loan

If you’ve been looking for additional funding for your business and have been contemplating on getting a loan, business loans can prove to be very helpful in generating cash for any business strategy you might be planning. Business loans can support the growth of revenue, expanding to other geographic locations, and even increasing the capital of your business. Business loans can be very helpful by avoiding large cash disbursement on business needs. By getting a business loan, the total expenditure is spread through out the entire loan period. If you find that a business loan is fit to your need, here are a few tips that can help you in planning your steps in availing for one.
  1. Identify the goal which you need to use the business loan for.
Like any other loans, you need to identify your goal and pinpoint the specific reason why you would need to make a business loan. A goal is something that you will focus on for the growth of your business. If you get a business loan without having a goal, you are only increasing your obligations without having any benefit in the long run.
  1. Look for the best lender that can help you.
Always find a lender who you will collaborate as a partner rather than strictly having that lender-borrower relationship. Getting a good lender will benefit you for the reason that they will take care of you and assist you when you have any issues or concerns related to your loan.
  1. Prepare a short version of your business plan that focuses on the number.
Yes. Focus on the numbers. Banks and licensed lenders initially won’t care about what your back up plan is in case of concerns on your operation. What they will be interested in is your cash flow, assets, and how you plan to maximize revenue.
  1. Compare business loan offers.
Once you have identified your chosen few lenders, its time to compare what they can offer. Make sure you have a compare sheet with you to compare similar items such as interest rates, penalties, fees, and other technical loan items.
  1. Identify on how you will pay.
Make sure you have identified the source of paying your loan. Have a back up plan of how you will pay for the loan in case your primary source of funds runs out or does not produce income.
11 Sep

5 Ways to Manage Your Payday Loans Efficiently

Payday loans are effective loans to help borrowers meet the demands in their financial concerns. But it may not always prove to be very effective. There are some who have fallen victim to the spiraling debt caused by personal loans. It may be something that is effective but can also be a cause for concern. Managing a payday loan is quite essential. Having the ability to properly manage your loan will greatly help in making sure that you do not go deeper into debt. Here are some of the tips that will be shared to show how you can manage a payday loan.
  1. Borrow only what you need.
It is actually a bad idea to borrow what you are qualified for. Often, the number that is associated to you or the number you can actually borrow is something that would most probably give you a headache in the future. It is important that you only borrow what you need rather than what you can get.
  1. Identify a source from which your payment will come from.
Make sure that you identify a source of income from which your payment will come from. From that plan, make sure you block off that portion of your income and use it to pay. No excuses to re allocate that portion of your income to something else.
  1. Avoid rolling over your credit for the following month.
It is better to get a payday loan with installment payments rather than getting a payday loan which you consistently roll over. The latter will only create higher amount of loan because of the interest due forming part of the principal amount every period the loan is rolled over.
  1. Borrow from licensed lenders
Make sure that your loan is taken from a licensed lender to avoid high interest rates. With licensed lenders, it provides the borrower security of a capped interest rate. A licensed lender will always be required to follow the rules and regulations that the government has set forth.
  1. Compare several lenders that you consider.
By comparing your lenders, you can actually take advantage by getting from the lender with the lowest interest rate and offered promotions.