Author / Kevin

Money Management

Guarantor Loans May Guarantee a Brighter Future

What is a Guarantor Loan?

A guarantor loan involves getting someone you know, usually a parent or other family member, to vouch for your ability to pay back a loan. They themselves will become liable to make the repayments on the loan in the event that you cannot. So, in other words, they are your security against the loan.

What are the Risks of a Guarantor Loan?

The first thing to think about when considering taking out a guarantor loan are your own personal circumstances and whether or not they are likely to change. For example, you may have just secured some type of employment and are working through a probationary period. Should the worst happen and you don’t complete the probationary period successfully and are therefore out of work, would you still be able to continue making the repayments on the loan? Using a loan calculator will help you work this out.

Personal relationships are also to be considered carefully. Acting as a guarantor or borrowing using a guarantor can in some circumstances put pressure on relationships, particularly if things go wrong. If you are going to take out a guarantor loan, then you need to sit down, write out a plan that both parties are happy with and then stick to the plan. The plan should contain contingency information that outlines what will happen if things go wrong.

What are the Rewards of Taking out a Guarantor Loan?

Guarantor loans are great for those unable to get an unsecured loan. It may be that you have a poor credit history or can’t prove a regular income. Companies like TrustTwo specialise in helping people in these situations to get the money you need.

Taking out a guarantor loan for essential items can mean that the borrower isn’t forced into the position of taking out a loan such as a payday loan that typically comes with an extortionate rate of interest. This type of loan often leads to problems, whereas a guarantor loan is a far cheaper way to borrow. In addition to this, guarantor loans can often be taken out over a long period of time and this means the repayments are spread more widely and are therefore more manageable.

Should I Take Out a Guarantor Loan?

If you have considered the risks and decided that they won’t cause you a problem and if you have a plan that you and your guarantor are both happy with, then taking out a guarantor loan can be an extremely good way to secure the money that you need at a good rate and look to a brighter future.

Politics

Who Are The Job Creators?

A popular buzzword out there is Job Creator (Ok, so buzzwords) and it has pretty much infected all talks of life. It seems like every sentence out of anyone’s mouth includes that word.

I’ve been thinking long and hard about it since it’s recently taken off. To get a better look at what most people think a job creator is look here.

I agree with a lot of people out there that we shouldn’t raise taxes on job creators and we should give more tax credits to them so that they won’t be held back from creating jobs.

It’s a tough economy out there and it isn’t easy for them to create jobs without sacrificing.

No I’m not talking about these people. I’m talking about the majority of Americans out there that spend money.

“Rich People” and Corporations are not job creators. They even somewhat admit this when they say that there aren’t more jobs because there aren’t people spending money.

Without the American people spending money, there wouldn’t be any jobs.

Why is a company made?

To make money, but to also fill a demand.

If no one wanted what they offer they won’t last, thus the jobs won’t be there.

So who are the real “Job Creators”?

You, me, and anyone else out there that spends money because we want something beyond our needs. (if we just bought within our needs there wouldn’t be enough jobs out there for everyone, hence the high unemployment rate right now)

So the government should give us a tax cut and some tax credits to get us to spend that extra money. Because if history is any indicator, we love to spend beyond our needs whenever we have extra money…or if we have some extra room on our credit cards. But it all goes back to having our needs taken care of first (for the most part).

So my advice to the government is to just give us a little extra money and we’ll take care of those jobs for you.

What do you think?

Debt Management

Long and Short Term Loans – Understand the basics for a better selection

Whether to take a short term loan or a long term largely depends on the requirements and the repayment capability of the applicants. Both these loans offer the money required to meet the needs of the individuals but each one of them has its own characteristics and features which need to be looked at before getting to a final decision. Knowing the difference can help one take better and informed decisions which can have long term impact on ones finances.

Long term loans- Take a deeper look

The long term loans are meant for   a long tenure which often extends up to 15-30 years. They are required to be paid back in the form of small monthly equated installments much to the liking of the individuals. These are generally provided by the banks, financial institutions of repute. The lenders run a complete background check of the individuals and ascertain their eligibility on the basis of a number of factors including the credit rating and the history being the prominent ones. The processing of these loans takes a much long time and the reasons are quiet obvious- the amount of risk involved and the high value of the loans.

Some of the long term loans include mortgage, automobile and the student loans. Since these loans are designed to offer large sums of money their tenure is generally kept long so as to keep the monthly repayment low and enable customers repay them comfortably. Normally with such high amounts, lenders generally keep assets as pledge against the loans known by the term collateral. Those with better credit ratings can expect lower interest rates, although credit rating is not the sole criteria for these loans.

One of the drawbacks of the long term loans is that the processing of the loan takes a very long time often extending up to a month. There is a huge amount of documentation and verification of the same involved and all of this takes a lot of time. However, anyone looking for the purchase of a house or a car, the long term loans are the obvious choice.

Short term loans – Meant for specific needs

Although there are different kinds of short term loans, the ones which are the most common are the payday loans. These loans are also known as the fast cash no credit check loans. The approval is very simple and one can have them at a short notice of just 24 hours. These are designed for people who are in immediate need of cash in small amounts but do not have the credit ratings or the documents and most importantly time to get this loan from the traditional banks. The lending criteria of banks requires the applicant to have a good credit score, stable job, good income, high value assets, which makes it difficult to qualify them.

One of the distinctive features of the short term loans is the high interest rates that they carry. This is mainly on account of the higher risk associated with these loans. No credit checks on the applicants keep the lender under suspicion of the borrower’s financial credibility. Hence these loans are simply offered on the basis of the employment and the income details of the individuals.

Knowing the features of both the long terms and the short term thenetlend loans it should be a lot easier for you to decide amongst the two. If you have the capacity to repay the loans fast and require a low amount, the short term loans will work in your favor. However, if you are in need of high value loans are interested in lower monthly installments and have a stable job which can allow you pay over a long time; long term loans are best suited to you.

Frugality

Save Money On Your Cellphone Bill

student rate

Sometimes all you have to do for a deal is ask. But a lot of companies are cutting back on deals and sprint is no exception. I called them up several different times a just asked “Is there any deal I can get on my plan” and they always told me no.

So what I did is look around the net for any site that could get me a percentage of my bill cut off. I then stumbled onto Student Rate. They can get you a bunch of discounts at different places. For instance, with sprint it will give you 15% off your monthly bill, for AT&T and T-mobile it’s 10%. They have many other discounts available.

The only catch is you must have an email address from a school. You don’t actually have to be going to the school but you have to be able to access the account.

I use it to save the 15% off my sprint bill and it adds up. Try it today.

What site do you use to get discounts?

 

Business

Why You Should Rent Equipment Rather Than Buy It

When you are running a business that uses a lot of expensive equipment, it can be hard to make the decision of whether you should purchase it or simply rent it out when you need it. In 2019, many businesses rent their equipment from other companies who specialise in this kind of service.

Here, we are going to look at some of the reasons why you should consider renting your equipment. Keep reading to find out more about this.

Save Money

Depending on the kind of equipment that you use for your business, it could cost you thousands to buy it for your own personal use. Then, multiply this by the number of pieces of equipment that you need and soon you’ll rack up a huge bill. If you rent your equipment from an equipment hire management business, you can save that money and put it into other places in your own business.

Lots Of Choice

The great thing about renting equipment these days is that you have a lot of choice. There are many businesses that offer this service which means that you don’t have to just go with the first company that you see. On top of this, these businesses use equipment hire management software like the package offered by Baseplan which is a fully integrated ERP solution to keep track of your orders and make invoicing easier. This is a great reason to try this service out.

Only Rent It When You Need It

Sometimes, you need a piece of equipment for a particular job, but you won’t end up using it again until sometime next year when a similar job comes along. This can be a big problem for companies who invest their cash into these pieces of equipment and then don’t end up getting their money’s worth. If you want to only have the equipment for when you need it, you should consider renting it from a business rather than buying it.

Save Space

Finally, you will find that you can save yourself some space in your warehouse or office space if you rent your equipment. You won’t have lots of equipment taking up space as it will only be there when it needs to be used. This is a great idea for those who don’t have a lot of space in the first place and want to keep the warehouse as tidy as possible. Consider renting and you will love the free space.

Final Verdict

It is clear that there are many reasons why renting equipment for your business is a much better option than buying it. You will not only save money in the short-term this way, but you’ll also save yourself some space in your warehouse. Make sure to consider this carefully and choose the best possible option for you. Have a look around at the local equipment hire management businesses and see if they are offering the equipment that you need for your next job.