The Pros and Cons of Settling Cash Loans Debts on Your Own

Debt. This is an inevitable part of life’s financial aspect. A person with credit card immediately becomes in debt the moment he or she swipes the card for a purchase. This is only one great example of a debt, but what about the others? Cash loans, IOU’s , auto loans and payday loans. Name it and for sure there will be someone out there who has that kind of debt obligation. It’s not a bad thing to be in debt. What can be quite difficult is when it becomes out of proportion. When the debt is more than your income or what you’re capable of paying.

In trying to settle the debt, you have the option to consolidate everything and apply for a cash loan or some would call it refinancing. This will give you the chance to have the money you need to pay everything and focus on settling the cash loan afterwards. On the flip side, you can also slowly pay your debts using your pay, or the money from your source of income. This is probably the easiest way and what everybody is most likely doing. Just like anything else, there are pros and cons when you settle cash loans on your own. Let’s have a look.

Pros

  • You can pay the debts according to your income and lessen the effect it can cause to your budget.
  • Not having to apply for a refinancing or cash loan through your bank.
  • You can use your credit card and other source of income such as but not limited to; incentives, bonuses; appraisals.

On the contrary, there are also disadvantages when you try to settle your cash loans on your own.

Cons

  • Not being able to meet the due date of your loan.
  • Slow paced improvement or progress in paying off the debt.
  • If you apply for a cash loan and mess it up, your credit rating will be affected.
  • Interest that can be higher than the principal loan which you might incur if you apply for a cash loan to use in paying your debts.

Given the pros and cons, you have to look at your current financial situation. Set a goal, when do you want the loans paid off? What will be your advantage if you get to pay it on time and at a shorter period? After deciding, take action and start paying off. For whatever way, the main goal is to get rid of the debts and be stress free.

Becoming a Self-Started Property Investor

Becoming a self-started property investor is not easy. As the key word is Invest.  This may involve money, properties and also the time that you have to dedicate while you are starting up. Although it is hard, it doesn’t mean that it is not possible.  Thanks to the fast paced technology, contracts and legal information are now available through government websites and newsagents. Even lodging a bond is pretty straightforward and most rents are now paid using direct credit nowadays, making it easier and time efficient.  When you engage to this business, you have to be mentally and well of course, financially prepared. As the success of being a self-started property investor is tempting, the risks when you fail in this area are also challenging.

Over the recent years, there has been a growing trend in investors trying to self manage their investment properties. It is said that there is around 1.7 million property investors particularly in Australia and of these, one in three self-start and self-manage their property.  Starting up with this investment take a lot of time and will not be a walk in the park.  Again and again, you need to have more than enough time. Finding the suitable and reliable tenants, collecting rent and making sure that you are on call 24 hours a day for emergencies and repairs are just some of the tasks that you should be able to handle. Not to mention the stress that it can bring. When you have decided to take on the challenge and self start your investment, do not forget that there are also agencies and professionals that can give you a hand on this field. There will be costs involved for sure but it may be worth the price if it means that you would be able to manage what you started and carry it forward to being a successful venture.

Is Being Overweight Bad For Your Health?

While others don’t care, most of us take this issue as a serious one. Being overweight is a health concern that a child as young as 3 years old to an adult may be experiencing as of today. The health risks that this brings are no joke. Heart diseases, diabetes, High blood pressure are just some of the conditions that an overweight person can have.  How can we avoid this? Read through some ways on how to identify that you are overweight, how it can be avoided and what to do when you find out that you already are.

  • Large Waistline – More than the other parts of our body where fat can be stored, our waistline is the best identifier that can say if we are already overweight. Abdominal obesity or having an apple shaped body notes the great possibility of being overweight.

 

  • Higher than normal blood pressure- When you are experiencing headaches, feel pain on your neck or nape, blurred vision and sudden difficulty in breathing. You might want to check your blood pressure and see a physician. This health risk can lead to another condition if not looked into and given attention immediately.

 

  • Higher than normal blood sugar- Fats are most likely caused by too much calories or carbohydrates that were not put to good use by our body. Frequent urination can be one sign to alert you that you need to check your blood sugar before it leads to Diabetes.

 

When you have seen your body developing these signs, it is highly recommended that you seek medical advice. Along the way, you can also help yourself attain better health by religiously following these steps:

  1. Cut down your sugar intake- This is the hardest part when you are starting, especially those who have “sweet tooth” since birth. It may mean that you have to forget your soda intake, the regular chocolate mousse after meals, or if you eat rice since it is your staple food, you might have to cut it down to half cup instead of one full cup or sometimes two depending on your mood. If you’re able to do this, I’m sure that you will be just fine and the results will be seen sooner than you expected.

 

  1. Engage on Physical Activities- Becoming health conscious or a buff as other s may refer to doesn’t necessarily mean that you have to go and find the nearest gym and become a member. NO. By doing your regular household chores like cleaning the house, taking your dog out for a walk are already physical activities that you do in a daily basis but not realize that these contributes to your health and wellness. Since you are aiming to have a better state of health, you can also devote 30 minutes of your time for a brisk walk or jogging if you can. Swimming is also a good way to burn those calories as you can shred 500 calories during a 30-minute refreshing swim. You can also take your old bicycle out of the garage and recondition it, go biking on your free time. This will not only help you sweat out but also unwind your mind.

 

  1. Don’t get bored – Never believe in crash diets as these will do no good. You might lose a couple of pounds in a few days but then regain it soon as you stop following the diet. It should always be slowly but surely. Our main goal should not only be to lose weight, but to have a healthier lifestyle.

 

  1. Don’t think that being overweight is a cosmetic issue- It’s a big NO! True enough, you should be confident about yourself but, this should not be justified by not trying to become healthier. Always remember that beauty starts from the inside. When you know that you are healthy, you’d be able to present yourself in a much more confident manner.

 

Before going on any diet or engaging in physical activities, do not forget to see your doctor first. It will be more effective and easier if you know what your real condition is and this would also ensure that trying to be healthy will not give an adverse effect just because you tried a wrong program. Obesity or being overweight is bad for your health but, it’s never too late to try.

The Smell of Failure

Each of us has their own share of dreams, ambitions and goals. It can be in our personal life, career, relationships and many other aspects. Because of these, we only have one fear in common- and that is FAILURE.

As literally defined, Failure is the state or condition of not being able to meet a desirable or intended objective. Others would define it as the opposite of success.  Some studies made by scientists say that Failure has a certain smell.  It was said that people’s sense of smell can influence the outcome of an objective, if the person will fail or succeed.  Although it is hard and others may find ridiculous, scientists believe this and are still trying to prove it.

Everything that we do in life is driven by one goal. To succeed, to deliver what is expected from us and to prove whatever it is that needs to be proven.  Since success is a common aim and is being looked forward to by everyone, the feeling associated to this can be said to be normal. But, what do we do if fail? Do we just give up or keep on trying? These are possible questions that people who have come across failure will ask. For people who are too hung up on success, they can be so concerned on the negative outcome if they fail.  They might go through depression, lose self confidence, and worst is if they’re not able to overcome, some may result to committing suicide.  But before we even reach that point, it would pay if we sit down and think why we failed on that certain area.  Here are some helpful ways that would avoid us from dwelling on the smell of failure.

 

  • EXPECT MISTAKES – Be realistic. Know that life will not always offer you a smooth drive all the way to your strive to success. Failure helps us create a balance and offers a room for improvement. Find out where you did it wrong and work from there.

 

  • BELIEVE THAT YOU ARE GOOD ENOUGH – When you don’t believe that you are good enough, that is the start of smelling failure. Failure is the best reason to not try again and cause us to withdraw, making us think and feel that we are inadequate and not capable.  Always think that nobody is perfect and without failure, there’ll be no SUCCESS.

 

  • STAY CALM- Whatever failure gives you, keep your calm and do not lose composure-ever. Never take your anger out on others.  Even if you blow everything out of proportion, nothing will change. You still failed. And you only have two options; to stay on top of things and try again or let failure kill the very reason why you wanted to succeed. Take a break, go out on a run or swim or go back to the activities that you missed because you were too busy trying to meet your goal. When you are feeling better, try again and this time, for sure you will succeed.

 

  • TAKE YOUR TIME- You cannot change the results of failure and recover from it overnight. Your wounded emotion is the one that takes time to heal. But, this should not stop you from moving on though. Take the time to recover yourself, the energy you lost and think on how you are going to do it better the next time.

 

  • FORGET WHAT OTHER PEOPLE MIGHT SAY OR THINK OF YOU- This may sound generic and easier said than done but it will be helpful.  Think of the reason why you started working out on your ambitions or goals. Know that you did it for yourself, or for your loved ones. Not for them  who know nothing about what you are doing. Remember, whether you fail or succeed, people will always have something to say.

 

These are just some of the many ways that can help you overcome failure. At the end of the day, you decide if you want to get up from the point where you failed and aim for success, or let that be the end of everything for you.

Financial Tools Everyone Should Know About

When it comes to handling our finances effectively, we will find millions of books, articles, blogs and all kinds of reading and informative materials providing knowledge for this important area of our lives.  Exploring these options, we will be able to improve our financial side of things and maybe, have a better understanding about how it should really be handled.  For the longest time, there has been a debate regarding ways on keeping our finances on track and organized. Personally, I don’t believe there will be such standard as everybody has a different way of handling their money or income. But, it wouldn’t hurt if we will keep our minds open since the only aim of these tools is to secure the fruit of our hard work.  Some of the tools I have listed will be the most common ones that I will recommend to a friend or a family member.

 

  • Shoeboxed

Receipts and expenses can now be organized and digitized through www.shoeboxed.com/. This can be a very useful tool if you want to track your receipts especially for the purpose of taxes. You can also save your expenses here to ensure that you are not going beyond your budget.

 

  • Mint.com

For budget conscious people, every list of financial tools will start with www.mint.com/ . A budget tracker that lets you see where your money is going in a quick and easy way.  This tool also offers analysis to help you change your habits in making decisions on how to spend your money and lead you to improving your financial situation. Mint.com also has mobile apps that you can download snd use anywhere at anytime.

 

  • Buxfer

 Another money managing tool that you can find online is www.buxfer.com .This allows you to see your money all in one place. This is also great in planning your financial future. Managing split or shared expenses is also aided by Buxfer.  Good examples of expensed that you can be helped by are IOUs, rent and groceries.

 

 

 

  • Pocketsmith

For upcoming bills and setting financial goals, use www.pocketsmith.com/.  Pocketsmith is all about goal setting in the future. The calendar-based set up lets you plan ahead and also allows you to compare your expenses with your income.

 

  • Betterment

This website helps you figure out an asset allocation. www.betterment.com/ encourages you to invest for the long term, providing guidelines that might require investment of up to $10.000.00 lump sum, or $100 a month. Aside from having an asset allocation Betterment also makes sure that you are on track and saves automatically. The only cost involved in this is the low management fee, that might be worth it if it means a better financial future for you and your loved ones.

 

  • YNAB

 

YNAB stands for You Need A Budget. This online tool makes sure that each penny has a job and spent worthwhile. www.youneedabudget.com is most recommended to zero-based budgeters. This will help you plan out your resource usage, and track your spending across all categories. It’s like a jump off to start staying on top of your finances.

 

  • Quicken

http://quicken.intuit.com/  is one of the best financial tools most especially for Windows users. By integrating your financial data, Quicken makes it easy for you to reconcile your accounts in a regular basis.

  • Ready For Zero

Many will find this a very helpful tool especially for those who need help in paying their debt.  www.readyforzero.com  assists you in putting together a plan to pay your debt obligations since ReadyForZero pulls information from your credit/debit accounts. Tracking your progress as provided by this tool keeps you motivated. By using this, you will always be on track and will be guided accordingly until you reach your Zero Debt goal.

Refinancing Explained

Just like the old saying “nothing is permanent in this world except for change”, our lives and how we maintain a decent way of living have evolved as years pass by. From the idea of just having the basic needs such as food, shelter and clothing, a lot would agree that the world we live in nowadays does not only require these three for us to survive in a daily basis. Tell me someone who does not have an iPhone or even an android gadget? Not even part of the basic needs mentioned earlier but then, it is a necessity. So to cope up with constant changes, we have to make sure that our means or source of income is at par. And this is our finances. Now, this is not all about money- (earn to spend) logic. No. This has a deeper concept and that’s where we are heading to. We will try and explain REFINANCING.

Refinancing means or may refer to replacing an existing debt obligation with another debt obligation with or under different terms. The terms and conditions of refinancing may vary depending on the country, state or province. This might also be based on several economic factors like currency stability, borrower’s worthiness, etc. In many nations, this is commonly known and applied to mortgages. You might be asking why a debt needs to be refinanced. We have listed down some of the reasons.

*   To free up cash (often for a longer term, contingent on interest rate differential and fees)

*   Consolidate other debts into one loan (a potentially longer/shorter term depending on fees etc)

*   To take advantage of a better interest rate

*   Reduce monthly repayment

*   To reduce or alter risk

Usually undertaken by borrowers, reasons 1, 2 and 4 are the most common and effective way to help out those who are under financial difficulty. This is in order to reduce/consolidate their debts and pay in a longer period of time that they can keep up with. A very good example is someone who has high interest debts e.g., due to credit cards.

Although recommended by most financial experts, there are also risk points in refinancing. These are the penalty clauses that are mostly because of changes in terms, like paying the debt earlier or later than the maturity date. Transaction and closing fess are also good points to consider. As an overview, the longer the term of refinancing is, the larger the interest will be. Your interest might become even higher than the principal loan/debt. In reality, debts are common and some might say close to being inevitable. Come to think of it. First world countries, rich people and businessmen have loans too. But, we should not keep that thought in mind so we can justify unnecessary debts. If you are living without a credit card, man, you have to give yourself a tap on the back. This means that you are 50% stress free than those who have it. Don’t get me wrong, credit cards are not bad. If you put it to good use, it can make your life a lot easier. For those who are experiencing financial difficulties, it is never too late. Seek for financial advice. Now that we have simplified refinancing, this might be a good way to start clearing those debts and look forward to a better living.