Low Interest Payday Loan Options Of Investments For The Time You Retire Discover How To Avoid Bankruptcy Pay Off Your Debt In Just A Few Years
There are times in the lives of salaried people when they are hard pressed for cash and their next paycheck is many days away. At such situations one can turn to payday loans also known as cash advance loans. Payday loans come as a boon to the needy at times of emergency.All a person needs to do for availing this advance is go through a very few credit checks or fax the required documents. Normally the lenders need only copies of proof of identity and the latest bank statement. There are also a few lenders who offer the option of faxless payday loans, where the borrower is not expected to even fax the requisite documents. Apart from the documents and verification, a personal check of the borrower is taken as a collateral against the borrowing.
The payday loans are a good option if you need to settle off an unexpected bill or meet an emergency expense that you were not prepared for. Payday loans are short-term loans that range from a few days to a few weeks if extended by the borrower; interest rates range from as low as $6 to as high as $30 for every $100 borrowed based on the credit rating of the borrower. If the credit rating of the borrower is not so good the interest charged by the lender is on the higher side.
Low interest payday loans are such loans where the credit and asset verification is very stringent but the interest charged on the borrowing is much lesser than the market rates. The low interest payday loans are a good option if you are not in very urgent need of cash and are looking for attractive interest rates that do not drain you. The advantage in going for low interest payday loans is that you can rollover the loan in case you are not able to pay within the stipulated time. This option is usually not viable with the other types of payday loans due to higher rates of interest.
To avail a payday loan the borrower needs to fill out a short online form and fax in proof of identity along with bank statement. After a quick credit rating check, the payday loan company credits the loan amount directly into the account of the borrower.
A low interest payday loan is available for borrowings from $100 to even up to $3000. Payday loans are unsecured loan advances that the lender offers with your personal paycheck as collateral. The lender agrees to hold the check until the tenure of borrowing and presents it for collection, unless the loan is rolled over for a higher charge.
One can easily search on the Internet for reputable payday loan companies and select the one that is best suited.
Many people plan to depend solely upon their social security checks to get them by in their golden years, but the cold, hard fact of the matter is that social security is not enough. In today’s economy, where housing prices and rental rates have risen at phenomenal rates, the $800 per month that social security pays is barely enough to cover housing costs in most cases, much less insurance premiums and food.
For this reason, it is important that everyone develop a financial plan, and your financial plan should start with investing. Investing will help ensure a steady source of income long into retirement, making your life much easier and more enjoyable. The following are brief descriptions for beginning investors to help familiarize themselves with the many different kinds of investment options available:
401K Plans are the most common type of investment, and one in which almost every worker has. The reason for this is they are the easiest investment because they require very little attention on the part of the workers who have them. They are so easy that workers don’t even have to worry about contributing to them, for their employer does it for them. In fact, most workers with 401K Plans never even notice the deduction from their paycheck.
Stocks are a common type of investment amongst the population who makes more that $125,000 annually; however, it is growing more common to see more middle class households invest thanks to the availability of online investing and lower fees companies offer. Investing in stock is a wise option and provides great returns for your money. If you decide to use this option you may want to strongly consider hiring a broker to guide you in the decision making process; however, if you are part of the middle class just starting out and can’t afford a broker, you will want to make sure and conduct thorough research before investing. There are many helpful websites that offer great advice.
Real Estate is one of the most lucrative investment options available, and thanks to lax lending standards almost everyone can invest in real estate with little or no money out of pocket. Buying real estate and renting it to tenants is a great way to ensure long term income streams for you long into retirement. People will always need a place to live and property is the one thing that can’t be created or grown. In fact, before considering the many options listed you may want to strongly consider investing in real estate.
Bonds are a safe way to ensure that at the very least, when the term of the bond is up and you cash it in, you will walk away with your initial investment. A bond is a promissory note from the government or a private company, in which you loan them a certain amount of money, and in return, they agree to pay you back with interests in a set amount of time.
Mutual funds usually reward the broker in charge of them better than the investor, but they are still an investment option that is available, and one which requires less risk on the part of the investor. What essentially occurs when investing in mutual funds is that a broker manages your money and invests it in a list of various stocks so that your money is diversified and the risk of you losing it all quickly is lessoned.
Money Market Funds
Money market funds are a safe short-term investment option. This kind of investment makes you an independent shareholder in the company in which you invest and requires you to pay only $1 per share. In addition, these investments often come with check writing privileges, allowing you to use the money whenever you need or want to.
Annuities offer you the chance of developing tax-deferred income. Annuities are an agreement between you and an insurer, in which your investment protects your earning potential should you run into job problems down the bumpy road that is life.
Brokered Certificates of Deposit (CDs)
Of all the investment options available, CDs offer the lowest return for your money. However, the upside is that you can use the money at any time without paying penalties, even though you agreed to deposit the money for a set amount of time. Life is unpredictable, so this is a nice option to have.
Do not let yourself become one of the 80% of the population that retires poor and struggling.
First, some definitions: Bankruptcy is a legally declared inability or impairment of ability of an individual or organisation to pay their creditors. Bankruptcy is a legal proceeding that prohibits debt collectors to collect from an individual who has been declared bankrupt by the court. The legal system ensures that the court only declares bankrupt individuals who meet certain criteria and even then those individuals still have to pay certain bills.
Tips for getting out of bankruptcy.
1. First, don’t panic! A common cause of bankruptcy is sheer panic. If you know that you are starting to fall behind, take a logical look at your budget and your debts. Don’t jump to any quick conclusions and never assume that bankruptcy is your only option.
If you can sit down and get all of your information organised and form some kind of plan to help yourself before you ever go for professional help, you may be saving yourself from bankruptcy right there. Panic is one thing that will make you more likely to file for bankruptcy in the end.
2. Do Get Professional Advice: If your debt has reached a point where you can no longer create a plan for yourself, it is time to seek professional help. This doesn’t necessarily mean that you have to sign up for a debt management program, but getting a simple plan set up by a financial advisor can be extremely helpful when you think you’ve run out of options. An advisor may also be helpful when it comes to lowering interest rates or late fees, which are things you could not accomplish on your own.
3. Do NOT Borrow: For some reason people have a tendency to try paying off old debt by creating new debt. It almost never works, and it will create much larger problems in the end if you’re not careful. If you are under the delusion that you can pay off your debt by borrowing money from a friend or family member, stop right there! Do yourself a favour by keeping your debt in your own hands and son’t bring it to the people around you. This will only accomplish short term goals, and really won’t improve your situation at all.
4. Improve Your Income: One of the best ways to help yourself is to increase your income to keep up with your debts. While it may not be possible to get a large enough raise to cover all of your debt immediately, even a small increase can make a huge difference in the amount of money you owe. If you can’t manage to get any sort of raise from your primary occupation, you might want to consider getting a second job to help catch up. A second job does not need to be anything high paying, but just something to supplement your primary income enough to start taking charge of your debts again.
5. Don’t Place One Creditor First: If you plan on trying to pay off one debt at a time, slow down just a bit. While it will be helpful to eliminate an entire debt and also the interest rate associated with it, it is not a good idea to focus in only one direction and let the others get out of hand. Your debt will decrease much faster if you can pay off the smaller and larger debts at the same time. This way you will pay off the smaller debts as you go and eventually you will be left only paying the larger debts.
Are you tired of watching your debt grow month after month? Do you realize how much you are paying in interest over the years to the companies you have credit cards with? We’ve all done it and sometimes it feels like there’s just no way out of the credit trap. I’ll share how you can start paying off your debt rather quickly by taking small steps and sticking with the plan.
You can start out with as little as $20 per week, but I suggest you do you best to come up with $200 a month extra to pay off your debt. You will see results much faster that way. In a couple of weeks we’ll talk more about simple ways to come up with a few hundred extra dollars per month, but for now start with whatever amount you can afford. The important thing is to get started.
Take out a sheet of paper and list all your current debt on there including
– Credit Cards
– Store Credits
– Furniture bought on buy now pay later
– Car Loans
– Student Loans
Now jot down how much you owe on each and how much interest you pay. Your highest interest debt is probably going to be one of your credit cards. That’s where we will start.
You are already making at least minimum payments to pay each of these debts off. I want you to take that $200 and add it to your regular payment toward your highest interest credit card. Let’s say you’ve been paying $50 each month toward it so far. Now you are going to pay $250 each month – until it is paid off.
Here’s where it gets interesting…
Once your first card is paid off, take the entire $250 and add it to what you are already paying on your second card. Let’s say you’ve been paying $100 so far. You would now be paying $350. Once that card is paid off you take the $350 and apply it towards paying off your next debt. Let’s say your next debt is your $200 car payment.
How fast do you think you can pay your car off by adding an extra $350 a month? And then you will have an extra $550 a month that could go towards paying off your student loans or your mortgage.
Can you see how once you get the ball rolling the debt starts getting paid off rather quickly?.
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