Category: Personal Finance

As the university term comes to an end, all the students struggling to make ends meet on their student loans are faced with a brand new expense: the party season is just around the corner, and whether you plan to celebrate Hanukkah, Christmas, or just a booze filled and exuberant New Year, many people are digging around for a little extra cash. It isn’t just these students who could do with a little cash advance to help them out till 2012: many of these students’ parents, as well, would like to be able to show them a good time over the seasonal holidays. That’s why many people in British families this year will be taking out unsecured loans for large and small amounts, in order to have a merrier Christmas.

Often, an unsecured loan is used to meet other debt payments such as outstanding credit card bills, rent payments, mortgage payments or bills. People like to use unsecured loans for these purposes because they offer fast cash payments (often made available within a week or a few days of application), and are easy to access. Often, these loans can be accessed by people who find it problematic otherwise to get a loan: i.e., people with very bad credit scores, those who have gone bankrupt, etc. But during Christmas time, many people who would be able to obtain credit cards or bank overdrafts choose instead to take out these types of loans, simply because when the sales are coming up, it can make all the difference to get one’s hands on cash fast!

That’s why people who can meet all their needs – for most of the year – with just their student loans, student grants or bursaries find themselves, at Christmas, needing to borrow funds in order to buy their families, friends and partner great Christmas gifts, or to travel to see their loved ones. Students are great candidates for a cash advance through unsecured loans, because the lender know that the students will be given the money to pay the debts back very soon, in their loan instalments due in January. Nothing can prevent an enrolled student receiving the student loan instalment – unlike other unpredictable sources of income, such as wages from a job the customer may be fired from, or repayments which others may fail to make. So don’t be surprised if you see the students you know with unexpected amounts of cash; there are more ways than one to make a student loan pay for itself!

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

http://www.cashgenieblog.co.uk/

4f06322611507

With many people finding themselves in difficult financial situations since the crash of the money markets in 2008, unsecured loans offering quick cash are becoming more and more common. Many people are turning to the organisations which offer unsecured personal loans, requiring no collateral and handing out fast cash within a few days of taking out the loan, in order to cover holes in their personal financial schedules. Perhaps the day of the month that rent is due comes a few days before the day when the borrower’s salary comes in, or otherwise a sudden and unexpected expense – repairs to a car, home or appliance, a business opportunity too good to turn down, or the deposit for a holiday or tenancy agreement – needs to be covered with emergency cash. This is the time when borrowers start trawling the internet for cheap loans which they can use to tide them over a few crucial days or weeks, and which won’t cost the earth in interest rates.

It’s the level of the interest charged on loans that makes some people think twice about short term unsecured loans. These types of loans are always quicker and easier to arrange than secured loans, as there is no valuation of the property or ‘security’ to be done, and there’s usually a fairly uncomplicated standard contract. People who take out unsecured loans will often find the money in their bank accounts within a few days of signing the loan agreement, and some specialist ‘emergency’ lending organisations will even make the transfer within a few hours of the contracts being signed. This is great for people who are in a financial emergency. But unfortunately, borrowers can often get carried away with the speed of the loan process, and forget to check the other important factor in loan provision: the level of interest charged on the loan.

This is what people mean when they talk about ‘cheap loans.’ Very few lending firms charge a flat fee for borrowing (the exception is some Islamic financial services, as interest is prohibited under Islam), so ‘cheap’ in this field refers to the percentage of the loan charged as interest. Some unsecured loans can be very expensive, with several hundred per cent interest being charged. However, for those wise consumers who shop around, quick cash can be borrowed on a relatively low interest rate. And the quicker you repay the loan, the less time the interest will have to mount up – so if you take out a fast cash loan, paying it back equally as quickly could mean that you end up paying out very little in interest.

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

http://www.cashgenie.co.uk/

4eec91586d34e

instant loan approval is exactly what it sounds like. You submit an online application and, literally within minutes (often less), the company’s software provides the needed credit checks and approves your request. The loan is paid into your account then and there (it can take three days for BACS to clear, but for an additional amount you can opt for immediate transfer). The cash advance is usually repayable on a short-term basis such as a month – the purpose behind such a short term loan being that you use it to address your immediate cash-flow troubles rather than as a permanent strategy. It’s therefore entirely different to the consolidation loans you’ll have seen advertised.

One of the most significant differences – other than the time frame – is the cost. You can generally borrow from £75 to £750 (so it’s not an option for major debt consolidation anyway), and the fee runs to 30 percent for the month. If your maths is reasonable, you’ll immediately realise that this is not a good long-term option, since that works out as an APR (annual rate) of something like 2,330 percent a year (that is, borrow £100 and you’ll have to pay back £130 after a month but £2,330 after a year). But the business is not designed to be used this way. It’s still expensive – far more than other options that may or may not be available to you – and so you need to be careful. The upsides are firstly, that it’s instant – if you want the money, you can have it within minutes. Secondly, it may be used by people who would not qualify for other forms of loan, such as from a high street bank, or even a credit card.

One way of looking at this is to establish whether you’ll be better off if you go for a short term loan, and if the results of not taking it are more expensive. Another way is to think of a cash advance like a hotel. You pay by the night, not the year; £50 a night might be good value for a week or a fortnight, but when you think of it as £18,000 a year, you’d never go for it! instant loan approval is similar in that it’s never intended to be for the long term. Most important of all, however, is to ensure that you use the room it gives you to set your finances in order so that you don’t need another one.

Please visit http://www.cashgenieloans.co.uk/ for further information about this topic.

http://www.cashgenieloans.co.uk/

4dc9cbca46045

Isn’t it annoying the way the summer holidays always disrupt one’s careful budgeting?  People who have been planning their finances diligently all year are tempted by offers of sun-soaked beach resorts and flights to exotic places.  When flights, hotels and spending money are all factored in, a summer holiday can double or triple our outgoings for a given month.  For those who find themselves in real difficulties, Cash Genie is here to offer short term payday loans to tide you over.  You may not end up needing this, though, if you read the following money saving travel tips from Cash Genie.

If you want to find cheap flights, timing is very important.  Unlike package holidays, it is worth looking for flights as far in advance as possible.  Because business travellers will pay high prices at the last minute, airlines will only increase them as time goes on.  The budget airlines will tend to offer the cheapest flights, but it is important to be aware of any ‘extras’ they charge.  If you know about the charge for extra carry-on luggage or boarding card printing, you can avoid those little extras that can end up adding all sorts of extras to your flight costs.

It may be that looking for cheap flights is not the best way to get the top deal on your holiday.  If you are going away for a week or 14 days to a typical holiday destination, then package holidays can be very cost-effective.  Package holidays bring other benefits too.  The tour operator provides flights, connections and accommodation for one price, leaving you with little to worry about.  Most of the package operators are ATOL protected, so you are more likely to be protected if the company goes bust or something goes wrong.  If you do go for a package holiday, you will find better deals if you can leave booking as late as possible, but this will deprive you of some choice.  Because tour operators have chartered the planes and reserved the hotel rooms, companies who have not sold all their holidays will need to get rid of them at the last minute to avoid losing money.

Hopefully, if you take this Cash Genie advice and plan your holiday carefully, you will not need an extra loan to deal with the cost of your summer holiday.  Saving money in this context is all about knowing what best meets your needs.

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

http://www.cashgenieblog.co.uk/

4d76787a7b3ce