Tabling your household budget can be pretty tough on a good day, when your income covers all of your expenditures. But when you’re attempting to create a financial plan and the cost of your expenses outweigh your pay (and your savings), you can wonder how you’ll make ends meet. Unfortunately, you can’t blame your budgeting woes on dyscalculia or irresponsibility; sometimes the only reason why you’re in the red is because of bad luck. All you need are too many bills with overlapping due dates with not enough pay, and you’ll be struggling to create a budget that works. Luckily, there are helpful options out there that can help you get your finances back on track, like short-term loans from reputable direct online lenders.

What’s a Short-Term Loan?

Loans with this title have a fixed repayment schedule. Many of them are considered payday loans because they require full repayment by the time of your next paycheck. The best options for payday loans have low barriers for entry, which means you can acquire them quickly and easily, regardless of your credit rating. Many of these lenders, which includes MoneyKey, don’t look at your credit at all. As long as you’re an American citizen over the age of the majority with proof of income, a bank account, and an email address, short-term loans are a convenient and viable way to access the cash that you need. They’re extremely useful in situations when you need money as soon as possible – when surprise bills or repairs require payment according to a tight schedule.

Why Use a Direct Online Lender?

The Internet has simplified most areas of our lives, so it only makes sense that it has helped to streamline the process of acquiring loans, too. Now you don’t need to travel to a brick and mortar lender to get the money that you need. There are direct online lenders, such as MoneyKey, that offer all of the same services online. You can fill out their online application directly from their website, submitting the information mentioned above and get an online payday loan from Moneykey.com. By virtue of being processed online, you’ll receive a more immediate response to your application. As opposed to waiting weeks for a person to call or schedule a meeting about your funds, direct online lenders will notify you instantly of your qualification, and you’ll receive your small dollar loan within one business day should your application be approved.

How Can You Protect Yourself?

Though short-term loans are a convenient way to getting the money you need, it’s not always easy to get a product that reflects your financial capabilities. There are some lending companies that offer small dollar loans with unmanageable rates, terms, and conditions that make their financial products difficult to repay. They do this on purpose in hopes you’ll rollover your payments to incur late penalties and more interest. State governments have stepped into limit these lenders abilities to scam consumers by introducing laws and regulations limiting the rates, terms, and conditions of lawful small dollar loans. Make sure the direct online lender you turn to for assistance can provide their state licensing to prove their financial products are in accordance with the law.

Find a loan that has a repayment schedule you can manage, and you’ll have the financial assistance that will help you pay for your surprise expenses without putting your budget into flux. While you shouldn’t rely on these products month to month, they act as a pinch hitter when your income fails to cover your expenses.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

Everybody has heard the saying “health is wealth”. While it is true that good health is something that money cannot buy, access to funds can certainly give you the best medical care. Life is uncertain and despite all your safeguards, accidents and diseases can strike without warning. It is therefore prudent to make arrangements for the wellbeing of yourself and your family, well in advance.

Medical costs today are prohibitive, making the need for sudden treatment or hospitalization a huge financial burden. If you are not covered under a health plan, you may find yourself in a difficult situation and can end up depleting your savings.

Benefits of Health Insurance

• Financial stability – Medical costs are increasing at a rapid pace. In case of hospitalization, you will have to incur several expenses, such as doctors’ fees, diagnostic tests, medications, and lots more. If you have to pay for these, you may end up spending all your savings. When you have purchased the best health insurance coverage, all these expenses are paid for by the insurer.

• Avail the best medical care – Many people who are not covered under a health plan often compromise on the quality of care they receive. However, with adequate health insurance, you can focus on receiving the best medical care and recover earlier. Most insurers offer a wide network of hospitals, which gives you the additional benefit of cashless hospitalization.

• Tax benefits – In addition to the above-mentioned benefits, individuals can avail of tax benefits on the premium paid for purchasing the health insurance policy. Under section 80 D of the Income Tax Act, premium up to INR 25,000 per annum is tax deductible. An amount of INR 30,000, paid as premium for senior dependent parents covered under these health plans, is tax deductible under this section.

Tips to Avail the Best Plan

• Individuals must pay their monthly premiums on time to ensure the benefits under the health insurance plans remain valid throughout the policy term.

• If you receive any message asking for additional information and/or documentation, it is important that you submit the same quickly to avoid loss of coverage.

• It is also important to pay your renewal premium in a timely manner to continue enjoying the different benefits available under the insurance coverage.

If you follow these simple tips diligently, you can be sure to reap the benefits of your health insurance policy. Do not wait for a health crisis to learn more about health insurance.

Know more about health insurance tips at 5 Paisa Insurance

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

If you are not able to keep your new business’s finances under control, then things can spiral pretty quickly. Businesses only succeed when they are financially secure, so here’s how to keep your money issues in order.

Budget

Budgeting is something that every business should do. If you are not budgeting for the year ahead, then you will face problems later on down the line. A strong budget will outline how much money you aim to bring into the company through revenue streams. And it will also outline how much you plan to spend. Then you obviously need to make sure that you make more money than you spend. Otherwise, you’ll make a loss, and that’s clearly not what you want. You can take advantage of loans and maximize loan budget in order to stretch your cash a little further if you really need to. This should all be prepared and planned out in advance though.

Organize Tax Documents from the Start

Nobody particularly enjoys paying taxes, but it has to be done. And failing to pay your business’s taxes is a criminal offence, so it’s not something that you can afford to ignore. Making sure that you pay the right amount of tax and meet all the relevant deadlines can be a challenge though. If you are not properly organized, then the whole task becomes so much harder than it really needs to be. So, you need to make sure that all your payroll documents, tax deductible expenses and other paperwork are kept in order. Then, when it comes to filling in your tax return, your life will be so much easier.

Consider Seasonal Cash Flow

Many businesses will see variable sales rates over the course of the year. This is pretty obvious for some companies. For example, a company that sells sunglasses will sell more in the summer than the winter. This is just common sense. But there can also be season cash flow variations for businesses operating in less obvious sectors too. You need to get to grips with your company’s sales cycles as quickly as possible. Once you know when your sales are at their highest and when they dip, you can organize your finances accordingly. If you don’t, you could be caught short when those sales dip.

Always Ask for Discounts

The amount of money you spend is one of the key financial considerations for your business. If you are spending more money than you need to be, that extra money will eat into your finances. Whereas, if you were to cut the amount of money that your business spent, there would be less pressure on your sales efforts. You can afford those sales dips if you are keeping your monthly expenditure as low as it possibly can be. One of the things that you should always do is ask for discounts. If you have suppliers that you are buying from in bulk, then you should be able to get some for of discount from them. This will certainly be possible if you can show them loyalty.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

There is no point in leaving all your cash in your current account. The interest rate will only be fairly low. It is much more advisable to move your money into a better investment that can help it increase. Of course, leave some money in your current account for everyday needs. But all your savings? It’s better off to invest them. If you are a complete novice when it comes to investing, it can be a very daunting prospect as there is a slight risk that you could lose some money. Here is what you need to know before you start.

Diversify

One of the big things to remember is the importance of diversifying. This helps you reduce the risks of investing. What does diversifying mean? Simply put, it is when you split up your money and invest in different methods. This is a much safer alternative than placing all your cash in just the one investment. Diversifying reduces the risks of investment. Because you are essentially spreading your eggs across different baskets.

Stocks And Shares

One of the most common ways to invest your money is in stocks and shares. This involves buying some stocks and shares of a company that is floating in the stock market. You will be able to buy as many as you like, although some companies have a minimum purchase limit. Before you commit to buying a company’s shares, you need to do your research. If the company is currently doing well, then there is a good chance the value of your shares will increase, leaving you with a profit. However, if the value falls, you could end up out of pocket. If you do your homework, you can make a lot of money over a long period of time!

Funds

Instead of investing directly in stocks and shares yourself, you can put your money into mutual funds. This is, basically, where you get a professional to invest your money for you. You transfer the money you want to invest to this financial advisor who then places it into a fund, so he can keep an eye on your money on a daily basis. This is known as a mutual fund, and your advisor is now the fund manager. There are a few different types of funds available. For self managed super fund advice, check online.

Savings Account

One of the safest ways to invest money is to place it in a high-interest savings account. There is no risk involved with a savings account, as the amount of money held in there won’t change depending on the economy. It is an easy way to get more money, though. The more money you have in the account, and the higher rate of interest, means you can get a substantial payment from your bank each month.

So, to be clever with your money, sometimes you have to take a risk and invest. If you do your research, you’ll find the benefits far outweigh any potential risks!

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

Debts are an unfortunate part of life. Unless you come from a particularly rich family and have all the luck in the world, you’re going to have to deal with debts at some point. It might be loans for education, your home or your business. It might be because of credit cards that we’ve lost track of. Or perhaps overdrafts that we dug into a little too far. How much you dug into debt doesn’t matter all that much. What does is taking control and getting back out of it. Below, we take a look at how exactly that might happen. Whether it’s managing or getting your debt forgiven altogether. Or whether it’s rolling up your sleeves and organising your finances like you’ve never organised before.

Student loan

The biggest loan that most of us will carry on our backs is a student loan. Even if you’re not in trouble with your payments, it can weigh heavily over you. How do you take care of it? Do you save to get rid of it now in place of your retirement fund? Do you stick to having it cut out of your wages for years to come? Paying off your student loan can negatively affect your credit rating but that will repair in time. Freeing yourself from it early can let you save for the rest of your life a lot more consistently. Public service loan forgiveness is also available, helping some in getting their student loan shaken off.

Better organisation

The key to paying off their debts quicker for most people means putting a lot more money aside for it. This takes the skill set of managing more money on the side without seeing how much you’re actually putting together. The right usage of online resources can help you manage your finances with all the more precision and mindfulness. For example, online banking allows you to track your spending in real time. That way, you know whether or not you’ve gone over your budget every time you take money from the bank. Similarly, using Google Sheets or Microsoft Excel can help you turn all your earnings and outgoings into an easily tracked sheet. With the right forward planning, you might find yourself shaving off a lot to put towards repaying your debts.

Debt consolidation

Consolidation is a bit of a wary subject for a lot of people. Many don’t really understand how it works and whether or not it will actually benefit them. It’s an important question to ask before jumping at it. Consolidation can, indeed, be the exact wrong move in situations. If you’re worried about multiple credit card debts for example, you won’t want to consolidate. Debt consolidation companies and banks don’t have the upper limit on their interest that credit cards do. However, with other debts, it can be an easy way of making it more manageable if it’s reduced to just owing one company money. Check the interest rates carefully before you agree to anything, however.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer