Financial emergencies have been there and will be for the longest time. Therefore, you must prepare for the unseen and do so diligently. But how do you do this? Here are five ways to prepare for a financial emergency.
The goal of insurance is to pool resources and help those in need when in need. In addition, getting insurance for the same is a wise way to prepare for financial emergencies.
Most insurances have medical and pension plans you can sign up for. However, an unexpected medical bill can have significant damage to your finances. That is why it is prudent to have one, two, or even more insurance policies.
The best insurances have the highest premiums. While it may look like a waste of money, it will help you when your time of financial emergency comes.
Establish an emergency fund
This is another crucial step towards proper preparation for a financial emergency. Establishing this fund will save you from trauma during your needy times. An emergency fund is simply caution money that will be utilized during times of need.
There’s no upper limit to how much you can save for an emergency. But the lower limit is at least six months’ expenses. That means you set aside six to nine months’ monthly expenditure. That way, assuming you’re retrenched, you have about six to nine months to look for another job.
An emergency fund should be separate from savings. That means, in the event, you utilize the fund, you still have enough in your savings account to continue moving towards financial freedom.
Sort your finances
One of the best ways to prepare financially is to put your house in order. If you have a debt now, strive to reduce or finish the debt. Work hard to ensure you do not have unnecessary unpaid debts.
Imagine losing your job while having debts at the same time. It can be catastrophic for you. However, it would be easier to handle the situation without the obligation.
Besides, ensure you have a budget and strictly adhere to that. This will help you save enough and lead a sober financial life.
Most of us plan with a perfect future in mind. We do that, forgetting that life is full of uncertainties and anything can happen along the way. Those who have had nightmare experiences in the past know the importance of making financial projections with the realities of life in mind.
There’s no financial preparation complete without a budget. However, this financial tool helps significantly as it gives your economic life direction. It is a focus tool and one that leads you in decision-making.
Financial decisions are not the easiest to make. We do them unconsciously, and sometimes that may hurt us. For instance, the decision to spend a certain amount on a particular food and not on the other can have a long-term effect on your financial life.
One may ask what importance financial planning has on emergencies. Well, planning puts you in a position to restore financial stability even after suffering a significant setback. This is because you have plans in place of how to maneuver.
Build your credit score
Credit ratings determine your credit limits. The better the score, the higher the amount of credit you can get. That is why you need to build a good rating.
When the emergency strikes and you have no other source, a loan would be your last resort. The higher the limit, the more the amount you stand to get. That will save you during that time of need. After recovery, you can settle your debt after getting out of the financial emergency.
Some ways to build your credit score include taking and paying loans on time. Besides, you should avoid many lenders because every credit rating check affects your overall score.
Financial emergencies have been there and will be for the longest time. Therefore, you must prepare for the unseen and do so diligently. But how
With the financial situation getting tighter every other day worldwide, debts may become almost impossible. However, with a good plan, commitments, and self-discipline, you can clear your debts.
Student loans, credit debt, mortgages, personal and home equity loans- name them all; are some of the commonest debts tying people today. Sadly, some people cannot pay off their existing debts and keep adding more, making them slaves to their lenders. Are you one of them? Worry not; with a good plan, commitment, and self-discipline, you can clear off all your debts, attaining financial freedom. Here are some easy but manageable tips that will help you pay off debts.
1. Work With a Budget
One of the commonest reasons people end up being debtors, even for unnecessary debts, is impulse spending. This refers to the tendency of buying everything and anything that impresses you, even if it’s not in the budget. Although this practice can be deeply ingrained, you can be free of it. The easiest way to do this is working with a budget; sit down toward the end of the month and write down what you have versus what you need. Plan your income and compare it with your expenses, and by tracking the two, you will have enough to pay off any existing debts and avoid new ones. If you find it challenging to make your budget, try a budgeting app and make things easier for yourself.
2. Clear Off the Most Expensive of Debts
In some cases, you may have more than one debt. For such situations, clearing the most expensive debts is the best way to go. Check all your credit cards and sort them in descending order, so you know the most expensive and the cheapest debts. As you pay the largest debt, you boost your annual repayment, ultimately increasing your credit points.
3. Seek Professional Help
Paying off debts is not about how much you earn but your spending habits. Interestingly, you might come across people with the largest-figure earnings, yet they have mired in debts their whole lives. Contrastingly, you will also come across people who barely earn anything, but because of good spending habits, are living a debt-free life. So then, streamlining your spending practices goes a long way to help you avoid debts and clear the existing ones. Besides, professional organizations like credit.org provide professional advice to make whoever needs it financially literate. Such bodies can help you streamline your expenditure and pay off your debts.
4. Get the Entire Family Involved
One common financial crisis in families is pulling the burden by yourself. Simply put, it’s a situation whereby one family member is involved in all the financial matters, and the rest only spend. This is dangerous, and if you are going to clear the debts you have fast, you have to involve all the members. It really doesn’t matter how much savings you have if your family members keep spending and borrowing without regard for your debt repayment strategy. In contrast, bringing the entire family on board and discussing everything about your debts helps them ensure self-discipline in their spending and even come through to help you.
5. Go Higher Than the Minimum Payment
Although every credit card has a minimum amount one should pay every month, it doesn’t mean that you can pay more than that figure. Therefore, one strategy that people employ to clear debts is going above the minimum every month. Remember, the longer you take to repay your debts, the more expensive it gets. Consequently, topping up your payment and going above the minimum every month helps you pay less in the long run.
6. Stop Credit-spending
Purchasing stuff using credit cards may come with incentives from time to time, which is why credits are on the rise. Therefore, one effective way to pay off debts and avoid new ones is to avoid using credit cards. Instead, use cash even if you will not get incentives. However, if you have to purchase items with credit cards, ensure your financial status is in control since every time you buy something, your debts keep accumulating.
7. Renegotiate Your Credit Card Debts
Like any other flexible business, credit card debts are negotiable. What’s more, just a phone call can take you far when it comes to renegotiating your credit card debts, otherwise called credit settlement. Start by reviewing your credit and payment history, and with everything on point, call the lenders and ask for a lower interest. If that’s not possible, ask for a waiver, and if that too fails, pay the full amount once, and you won’t have spent so much still. In fact, paying a lump sum amount has proven to be cheaper than the recurring monthly installments.
8. Employ a Debt Repayment App
If you know your debt details, including the outstanding debt, the stipulated repayment period, the rates you are charged, you can pay off your debts easily. It even gets better if you have information about the offers your lenders have if you follow a particular repayment plan, an advantage a debt repayment will offer you. Remember, you download the app once, but use it for as long as you want to get assistance repaying your debts.
9. Take Advantage of Deals
Deals are some of the greatest economic saviors you can have around. Please take advantage of them and cut down your expenses to save extra pence to settle your debts. For instance, do your shopping stores offer deals at particular times, say mid and end the month? Time these deals and reduce your spending.
10. Diversify Your Income
Inflation is real, and currencies keep losing their value. Yet, the economic situation keeps getting tighter every other day, and you have to spend more on commodities. The best way to meet your financial needs amidst all this is to diversify your income. If you depended on one job, you could consider working for two or more jobs or taking a part-time job. Interestingly, you may never know the value of the $50 you earn from extra income.
Debts are becoming almost impossible as living standards become expensive every day. However, if you are committed to paying debts, are well-disciplined, and have a debt repayment strategy, you can settle your debts. Some ways of doing so include having a budget, taking advantage of deals, paying more than the minimum credit amount every month, involving the entire family in financial decisions, and paying the most expensive debts fast to boost your credit points.
With the financial situation getting tighter every other day worldwide, debts may become almost impossible. However, with a good plan, commitments, and self-discipline, you can
Most people are surely aware that the price of gas rises all the time. There really is no specific date to known when it is going to come down. With this said, most consumers have to be smart in using their resources accordingly. It would not hurt to think whether it is the right time to have your gas tank filled. Look at the cost before you pump. If this is not attainable, there are various ways to save money from your gas petrol. What can you do?
Improving your driving habits
Here are some of the tips you can follow to save money from your car gas consumption. Consider these:
Shorten your car warm up time
If you can, avoid warming up your car for longer than 30 seconds. Whenever you put the engine in idle for past a minute, you waste fuel and even emit greenhouse gas into the air. To avoid this, only start your car when you are about to use it already.
Only drive when crucial
Which means that you can drive less if possible. This should not be that difficult. If you combine your errands in just a single trip, that is going to be much better. If you can walk, that is also a good idea. You can do this with nearby pick-ups. Another good alternative is for you to have a bicycle instead. Do not let yours gather dust in the shed or garage. Use it wisely.
Purchase Gas at the Right Time
That right time is early or late in the day. You can also do this during warm months. This is advisable because gas is way cooler when it is early. It is also more dense. On the other hand, its density falls whenever the temperature rises. This will just let you get less of what you pump, you sure would not want that. Apart from this, buy gas early in the week too. The prices of gas normally change between Wednesday and Saturday, so the safest is to do it in the early days of the week.
Just slow it down.
Driving fast can be fun. However, it increases drag as well. When that happens, you consume more gas. Drive below the speed limit, or drive smoothly if you must. This can allow you to utilise gas efficiently. At least, you will only have to fill rarely.
Turn off your engine
When you are just waiting outside, turn off your engine. Putting your car into idle is really a waste of gasoline. Make yourself more productive instead of staying inside the vehicle without driving.
These are just some of the tips that you can use so that you can save money from your gasoline purchase. While we are not sure about when the price of it is going to rise – there is still an assurance that it would take responsibility so that you may be able to spare a dime from your car usage. Do so if you have the opportunity. This can save your finances. Learn more about this through a loan advisor.
Most people are surely aware that the price of gas rises all the time. There really is no specific date to known when it is
Trying to food on the table is definitely a necessity that every family has to know. But then, with factors like the prices of gas rising, this can be rather a ridiculous task to complete. Basically, every single thing is affected by the surge of oil price – be it food, consumer products, and more. As this occurs all the time, the cost of living may be subject to change as well. This is when the problem may come and start.
While it is easy to check on www.instantloan.sg, there are still other ways to save and manage money in no time. This is the best to deal with the rising prices of gasoline which may also reach the roof. At least, you can be assured that your wallet will be saved from spending a hefty amount of dime which you can actually spend for something more important in life.
What to do now?
There are methods which should be considered in saving on petrol, gasoline, and benzene. It does not matter how one wants to term this. The processes may be effective. It is never too late to start. The steps may be advantageous too. How can you save?
- You may start by assigning a day in when you are going to earn a gas. Afterward, walk in the park some other days, most especially if it is just within the same area. As an effect, there is a multitasking going on – which features saving on the fuel cost.
- The gasoline turns out to be way denser when it is placed in cold temperatures. Usually, gas pumps are intended to measure the volume of fuel that is a pumped. This only means that once a gas tank has been filled up in the cooler temperature in the mornings, or in the colder hours at night, you are still most likely to earn a better gas.
- Do not fail to obtain gas from a gas station that is busy. One which has more customers. Consistently do this on a regular basis. Most slow gas stations tend to keep underground tanks this is why gas contamination has always been feasible to occur.
- Prevent topping the gas pumps off. When you buy a limited amount of gas in a gas station, there is a feasibility that it is going to have enough time activating. This is why it may be the answer to short bursts that may shortchange the amount of gas being purchased. At this instance, do not forget to replenish the gas tank.
Despite the fact that you are doing the above mentioned, you must look at the size of the engine that you own because this may have a direct effect on the gas being consumed. Fuel efficiency is most likely to be achieved depending on how big the engine is. This is the most important part now. Gas petrol must be handled this way.
Trying to food on the table is definitely a necessity that every family has to know. But then, with factors like the prices of gas
Heating appliances that utilize gas as its fuel became really popular these days. As a matter of fact, they are crucial to maintaining the warmness of a house amidst winder. This is the answer towards a welcoming patio. When it comes to the winter season, it is just right to have complete protection. At least, you will be spared from the chilly winter season which may be hard to bear at times. How will you do it with gas though?
Most gas appliances are classified and categorized into two types – vented and ventless. How would they benefit your home? What is their use in terms of cooling down your patio in times of winter or summer evenings? Here are some of the advantages that you can look forward:
In order to fully understand them, please take note of the following perks of gas heating systems for your home. These may be useful:
- Heating systems ran on gas are way easier to install. Meaning, you can just mount them on walls and there is no longer a need for you to work on any pipes, chimney or stack. There are also models which are portable in nature. They just come with a stand. This is why they can be carried from one place to another without you having a hard time.
- Another advantage of having this type of technology at home is that it is highly efficient as far as the use of fuel is concerned. What is even good is that it may be the key towards extreme productivity. Once the fuel is consumed to its maximum degree, they are unlikely to omit any smoke or carbon monoxide. It is known as a fact that any of these is harmful to the health. At least, you do not have to be experiencing them.
- Since worldwide outreach is involved, this kind of system is also environment-friendly. The call for taking care of mother nature must not be snubbed. This eco-friendly environment would to maxmize gas for the sake of heating. Meaning, it would not in any way produce carbon monoxide. This can be of great degree in harming humanity if not given attention, but not with this appliance.
- It is very unlikely for people to use outdoor heater operated by gas. Regardless, it should not be an excuse for you to check on what the mentioned has to offer. Needless to say, it can serve as a reliable alternative to the electric heaters you are surely used to having. There are many portable models out there which are by garage heaters.
There is nothing wrong with wanting to have this kind of appliance for your home. Such can be a protection for you and for your family. Just think about this as an investment which may work to your benefit. If you are thinking of having it now, please consider various options before doing so. Read reviews online! There are many of them provided! This can be a wise move!
Heating appliances that utilize gas as its fuel became really popular these days. As a matter of fact, they are crucial to maintaining the warmness
Crude oil or petroleum is known to be a naturally occurring liquid which originates in the formations of the Earth made up of a complex mixture of hydrocarbons. This features alkanes which may be in different lengths too. Petroleum refers to rock oil. This goes from the rock. This crude oil or petroleum is bound to be a hydrocarbon-based liquid which may be present in the porous rocks too just beneath the surface of the earth.
With the slow alteration of organic remains through time, petroleum is formed. This is made of a mixture of liquid hydrocarbon compounds topped with a wide array of composition, density, color and viscosity. After the distillation, the liquid may yield combustible fuels, lubricants and petrochemicals. The mixtures and compounds would be separated from the crude petroleum. Such transpires because of the distillation about kerosene, diesel fuel, gasoline, fuel oil, benzene, heavy naphta and other grades of lubricating residuum and oils.
The classification of petroleum is covers the predominance of paraffin. This may also be the asphalted compounds which is directed as the paraffin base. Such can also be an intermediate base or asphalt base.
Most oil wells are drilled six miles from the Earth. This is the process only to search for petroleum. These wells are not easy to do. As a matter of fact, they would demand millions of dollars so that they can be drilled. Once the drilling is done, the valuable natural resource is won. Indeed, there is already a major use for petroleum. This features jet fuel, gasoline and heating oil. The natural gas and petroleum are utilize so that electricity may be generated. Aside from this, there are other uses too.
What are the different ways so that petroleum may be present in our everyday lives? It is known as a fact that all plastic is for plastic and petroleum. This is just everywhere, mostly in computers, clothing, toys, houses and cars. Road construction may never be completed without asphalt. This petroleum product is directed for synthetic rubber in tires. Aside from this, paraffin wax may be from petroleum just like in pesticides, fertilizers, detergents, herbicides, photographic film, phonographic film, packaging materials, furniture, paints and artificial fibers, surfboards which are also part of upholstery, clothing and carpet backing.
Sulfur, helium and other variable materials are obtained from oil wells which are just in the petroleum itself. Lubricating oils and fuel are primarily directed for Petroleum. These supplies are limited for the average person in starting to realize their importance.
A Closer Look at Gas
There are just too many alternatives for petroleum fuels which play an integral role in the analysis of benefits and costs of gas. This may be superior for a ton of areas out there. They can be about hydrogen, hybrid, ethanol, and biomass technologies which have always been promising for different automobiles out there. They would increase efficiency and hence, reduce emissions which can also be friendly to the environment.
Crude oil or petroleum is known to be a naturally occurring liquid which originates in the formations of the Earth made up of a complex
Gas petrol can be an added burden on your daily expenses. However, if you cannot avoid using one, you should be smart enough to know how to overcome it. Now, the big question is – how?
Well, it is not rocket science to understand that there is political status going on in here. However, if you know how to manage yours, from a personal standpoint, there is a big chance that you may really cut down your monthly expenses. For sure, your life will be way healthier. What is even better is that the environment may be better and even the global warming will slow down.
Reducing Your Usage of Gas
If you are so keen on pursuing the reduction of your gas usage, here are some of the tips that you must put into mind:
- You can start by utilizing a motion detector or sensor device that may be able to operate your lightings and electrical appliances. For instance, your fans and lights may just turn off whenever there is no motion or movement detected. This is usually the best for hallways, driveways, walkways, game rooms and playgrounds. No need to waste energy anymore.
- You may also begin shifting to light sensor switches so that you may be able to control perimeter lights including back door lights, garden lights, and road lights. For most of the time, these switches turn on when the night already falls. Once it is already the daybreak, the switch will then turn all the lights off. As this happens, you can be sure that there is no way in which you will forget to turn the lights off.
- Channel renewable energy as much as you can. Among them are wind powered, solar powered, hydrogen generated and hybrid generators too. It is known as a fact that most of these are not dependent on gas, which is just produced by oil fields. Today, these energies may cost a lot. However, if individuals will only be in favor of renewable energies, they can never go wrong anymore. That is for sure. The savings will be realized in the long run. That is how it normally works.
- Ponder on your driving habits too. As this is the case, you might want to go for higher gears more often. This means that you have to cruise more when you drive. If it is feasible, you can go for a manually geared automobile, instead of the automatic one, which is known to many. Today, there are tons of automatic cars that will go for manual shifts. They would enable flexibility most especially on the side of the car owner.
Indeed, we all have the capacity to contribute to a better tomorrow. If you are up to this idea, you may want to begin by changing your lifestyle and ways. With this suggestion when it comes to your consumption of gas petrol, you can never go wrong for sure. Start doing it now!
Gas petrol can be an added burden on your daily expenses. However, if you cannot avoid using one, you should be smart enough to know
Today, to finance gas stations, or even convenience stores, together with other petroleum-related properties turned out to be a difficult task. As a matter of fact, it has become a struggle for many. Defaults and foreclosures may just transpire to anyone. They may happen to those who will not be careful. Since this is the case, most operators and dealers have to ensure that they earn an industry experience. It will help.
To have a direct industry experience may cover those who own, operate or manage a gas station. The truth is this – there are many finance people out there who do not aspire to look for attorneys, accountants and IT professionals who are just found in retail as a whole. Since there has been a current credit crunch together with the booming of the C & G or convenience and gas industry, it is not surprising how financing an asset class turned out to be quite a challenge.
Making it Succeed
If you want to put up your own gas station, but your only relevant experience is that you have worked at 7-eleven, that is not going to be effective because it is not related to any managerial experience. The usual scope is ordering inventory, hiring and firing, pricing inventory, pricing fuel and payroll. Meaning, if you have not managed ever, your chances of winning a loan can be small. This is true in today’s field.
Now, the big question is – what are your choices as you intend to purchase a gas station or even franchise one? These are some that you have to consider:
- The most obvious answer is that you add a partner for a direct industry experience. Do not get this wrong. It does not mean that you are to make a 50/50 partnership. It only shows that you might have to be with someone who can be responsible for running a business.
- Usually, it is the best to keep the seller only on a minority owner. He or she may take 20% or less for a period of time. This is a chance so that you can get the most of your cash. Aside from this, training for like a year can be possible. This will be good for your business.
- If the company you are to take only has a management, and then you might want to keep that. That is another way to hold everything going. It might even come to a point when you will be obliged to offer ownership for around 5 to 10%. There are times when a manager does not come with a financial motivation so that he or she might stay. If ownership is present, and so the incentive is as well. You are just not required to have the direct experience. You may obtain it from other people.
Do not fail to do your own research even before anything else. This must help you with everything. Review all of these in order to work.
Today, to finance gas stations, or even convenience stores, together with other petroleum-related properties turned out to be a difficult task. As a matter of
There is a tenfold of brokerage firms and facilities which usually offer private banking services to that they can provide protection and securities of investment. They would do this by giving an advice and by lending opportunities most especially for wealthy customers. Most of these offices are the services mentioned.
The creation of offshore accounts is one of the services offered to wealthy customers. This is the best when it comes to increasing the privacy and asset protection of the client. Investment opportunities and tax advice may also be discussed here.
Indeed, those who are financially able will get a lot of banking in Singapore. What else may be expected from the whole endeavor?
Should You Bank in Singapore?
This is the question asked by those who are not yet sure. There are reasons why one must consider doing so. Here are some of them:
Friendly Treatment to Investors
For the past couple of years in Singapore, the country has been working its way to promote and develop the island which is considered as an offshore financial center. As a matter of fact, Singapore is considered to be in the global offshore of the banking industry. It is friendly to most investors when it comes to the regulatory environment and legal system.
It is known as a fact that Singapore has triumphantly wooed the private market. This is proven by the number of non-Asian financial institutions that established their offices in Singapore. Among the examples of these are the HSBC Republic, the Credit Suisse, and the Societe Generale Private Banking. These are all growing in the mentioned country.
Economic Stability and Growth
Singapore is dubbed to the be the center for commerce, finance, and business in South East Asia. This status has a big contribution to the economic growth and stability of the country. Indeed, Singapore is the home for various private divisions and firms out there. This is true as for a ton of global banks out there.
Furthermore, the private investing sector of Singapore is also fast growing. This is true most especially in the city. As a matter of fact, it is now called the “Wealth Management Institute.” This is meant for graduating professionals out there who are trained to handle the challenges involved in modern private banking.
Multi-Service Private Banks
The banks normally give off personal and financial services to a wide range of issues. These are all schemed to serve those who have stable assets. When it comes to traditional banking services including credit and debt facilities, loans, and mortgages, the staffs are usually qualified to be of assistance with the estate planning. Even the protection of income and personal tax can be highly practiced here.
Among the other services typically offered in the private banks of Singapore are internet banking, wire transfer services, fund management, trustee services, credit and trade finance letters, corporate administration and foreign exchange. Many of these Singaporean institutions are dubbed as efficient. They are effective when it comes to giving their services. They are always in courteous style and manner that enable their staff to deliver services for as much as they can.
There is a tenfold of brokerage firms and facilities which usually offer private banking services to that they can provide protection and securities of investment.
There are many financial hubs across the globe. One of which is Singapore. For instance, in the mentioned country, it is not hard to obtain a loan because of the expenses expected. This is true because the money is somehow a requirement for a ton of purposes. It can be for emergency, education, among others.
When borrowing money, there are lending regulations, and procedures that you have to be aware of. There are times when modifications in the law transpire depending on where you are. This is how borrowers are often managed. The role of governments is to ensure that they protect both the borrowers, and lenders under their state.
If it is your first time to borrow money, or not, there are rules that you need to know.
Rules in Lending Money
There are basic rules before you borrow money from any traditional institutions out there. Please take note of the following:
- The first thing that you have to note is the relevance of following the law legally to fulfill any sort of loan agreement. You only have to do this with licensed lenders in your country. In the pursuit, you have to be aware of the printed terms, and conditions. You also have to ask the offer to explain the document, or the so called loan agreement. Everything must be disclosed to you.
- If you come with an existing loan, and a debt, such as a recurrent fee, you have to be open about them. Please be smart in managing your contract agreement. It is also vital that you calculate your interest payment, together with the late fees.
- Money lenders have to educate you with every term, and condition stipulated in your document. This is a legal responsibility that has to be made. You must be oriented in a language that makes sense to you. If you still have questions after everything that is a bad indication. It is also your right to be provided with a loan agreement copy.
The aforementioned are the basic rules that you can expect in the process. There are still some more that you may encounter. Basically, it varies from one country to another. You just have to know more about it before you go on with an agreement.
When it comes to the amount that you can take, there are exemptions that are allowed based on the unsecured law too. There is a basis normally being made to this. For example, you may be allowed to borrow at least 3000 dollars if you have an annual income of 20000 dollars. However, if it is less than the latter, you will be given the chance to avail the two months of income loan.
Based on the law, most of the licensed lenders out there are required to compute the EIR. It must be revealed too. You are not just granted the law without this. This is also a way so that you are guided with the interest rate given to you.
There are many financial hubs across the globe. One of which is Singapore. For instance, in the mentioned country, it is not hard to obtain
It is known as a fact that most Singaporeans are very much devoted to spending a fortune just to give their children a decent education. As a matter of fact, the private tutor industry in the said country earns around $1 billion annually. This is evident to the priorities of this country.
Based on a survey completed by HSBC, they discovered that Singaporeans are willing to allocate $21,000 yearly for the education of their kids. This should not come as a surprise anymore. It is understandable considering the fact that local university education is not really affordable.
What is alarming though is that 52% of these individuals are okay with debts just to sustain this need for their children. Most of the people in Singapore are leaning towards spending more money for their kids’ education than for retirement and bills.
Who does not want a brighter future for his or her children? Seeing him or her go to medical school, or becoming a hotshot banker is the dream of every parent out there. However, the big question is – are you doing it right? Are your sacrifices worth it?
Truth be told – the aforementioned is not wise at all. It must not be glorified. Parents must know how to deal with the education of their children practically. How can this be done?
Save and invest for the education of your kids as early as possible.
At the end of the day, this is not just about the willingness to settle the education of your kids. You also have to plan accordingly. Having big ambitions for your kids is a responsibility. If you are determined for this, and then you must start planning early. This must begin as early as the child is born. This is a way to access a decent amount of money for the education of your children.
Plan the education of your kids together with your retirement.
There are parents out there who have a notion that they cannot settle the education of their kids alongside their retirement. This is not true. There is no need to sacrifice your retirement. If you have to set aside a lavish lifestyle for a while to save, then so be it! You might really have to give up enjoyment to realize your goals in life. Make appropriate adjustments if you must!
Include the children in planning!
The last thing you can do is be too authoritative in the future of your children. Yes, you can plan for his or her education; however, your kids should be part of the planning process. You do not know the better ideas you may learn from them, especially when they are already old enough. Give this chance to them to prove themselves too!
Aside from the aforementioned, it will also help a lot to ensure that there are financial options available for your kids. Successes do not come for free! Plan them ahead!
It is known as a fact that most Singaporeans are very much devoted to spending a fortune just to give their children a decent education.
Money lending is part of consumer credit market in Singapore. It is just used to a small extent by the people looking for consumer loans. It is a legal business which is supervised under two main governmental acts: The Moneylenders Act 2008 and the Moneylenders Rules 2009. These rules and regulations of money lending business help in providing a framework for balancing the rights and interests of the people who are seeking for lending money.
Charges and fees which the money lender Singapore companies demand vary accordingly. For providing uniformity in the market, the government of Singapore has adopted stricter regulations on October 1, 2015. These regulations are set of rules which the government of Singapore has strictly applied on lenders as well as borrowers. Some of these are:
- For administrative fee, moneylenders can charge up to 10%
- They can only charge now maximum of 4% nominal interest per month
- Penalty for late interest is fixed to 4% per month
- Penalty for late fees is restricted to $60 per month
- Moneylenders can charge no additional fees from the consumers
Money lending limitations for consumers
Money lending in Singapore particularly depends upon the annual income of the borrower. There are many firms which provide the loan money on the minimum income of $500 per month. The limit of money lent usually depends upon the salary of the borrower or some multiple of it. If you are seeking for secured loans, you can easily obtain the loan in any amount, but if you are seeking for unsecured loans, you can get loan according to some set of rules. These are:
- If your annual income is less than $20,000, you can get a loan up to $3,000.
- If your annual income is $20,000 or more but less than $30,000 you can get a loan up to your 2 month’s income.
- If your annual income is more than $30,000 but less than $120,000, you can get loan up to 4 month’s income.
- If your annual income is $120,000, then you apply to get a loan of any amount.
Penalties and charges charged by moneylenders in Singapore
Singapore government has fixed charges for various loans contracted between 1 June 2012 and 30 September 2015. There are only six types of charges on these loans:
- Every time on the late payment you will have to pay the repayment of principal or interest.
- Every time changes have been made to the contract as per your request.
- Every time your cheque got dishonoured.
- Every time your GIRO payment to the lender gets failed.
- Every time you terminate the contract of your loan.
- For each and every legal cost made during the recovery of the money by the money lender.
The government of Singapore also has some permitted some additional charges after 1st October 2015 are:
- For each late payment, you have to pay a late fee not more than $60.
- A fee of 10% of the principal at the time of loan allocation.
Moneylender does all the legal costs for the successful settlement of the loan.
Money lending is part of consumer credit market in Singapore. It is just used to a small extent by the people looking for consumer loans.
Everywhere across the globe want to know where they can access financial services as the need arises. Financial institutions have come up with financial solutions at the customer’s fingertips. It is because most people can obtain loans not just visiting the institution’s offices but through their mobile phones.
Loan opportunities in Singapore range from personal loans to business loans and asset loans. For instance, for a person to own a car they just need to visit a financial institution such as commercials banks, Saccos, and microfinance institutions. They do not need to accumulate funds in their banks before making such purchases as in real financial needs, and leisure activities would force them to use the money.
Appealing finance & loans services accommodate customers from all classes whether low, middle and high class. Do not sit and relax while locking your entrepreneurial potential mediating where to get finances. Just a call or pay a visit to us and your potential would be unlocked forever.
Everywhere across the globe want to know where they can access financial services as the need arises. Financial institutions have come up with financial solutions
With financing crisis looming almost every corner in the Singapore, entrepreneurs are much worried about the health of their business. Those who haven’t kicked off their business ideas spend sleepless nights thinking about their unrealized business opportunities. Common sense dictates that business ideas without implementation are just a useless as having no idea at all.
Singapore financial sectors have tried to accommodate business people through financing. However, a great challenge emanates from entrepreneurs whose ideas just lie in their mind. Most financial institutions would require business records for not less than a year. Moreover, loanee is needed to immediately start servicing their loans irrespective of whether their business has made profits or losses.
Appealing finance & loans services ltd comes to the rescue of the unimplemented business ideas. We finance small, medium and large enterprises depending on the nature of the business plan of customers. Moreover, we entirely offer financial consulting services to ensure that our clients benefit the most. Once their business picks, they can now start repaying their loans, unlike other financial institutions.
With financing crisis looming almost every corner in the Singapore, entrepreneurs are much worried about the health of their business. Those who haven’t kicked off
Whether you want to put some cash away for a rainy day, or just want to save up a bit, we’ve got 5 of our writers’ top saving tips all lined up here! Not only will you have some peace of mind, but a bit of breathing space when it comes to your financial well being. These tips are so easy to follow, you’d be surprised!
#1 Clear Out Old Stuff and Have a Garage Sale
You know that pair of skates that are lying at the back of the cupboard and hasn’t been used since 1983? Or what about that suitcase full of clothes and linen, never to be worn or used again. Get all your old stuff, and sell it! Someone else might just be able to benefit from it and you get to make a couple of extra bucks.
#2 Hit Those Second-Hand Stores
That’s right. A lot of time you can find very nice bargains and rarely used stuff at second hand and thrift stores. Even with bigger purchases such as appliances or vehicles. Why throw yourself into unnecessary debt when you can buy something for half the price?
#3 Save on Gas Spend And Cycle to Work
Not only is this great for your health, it is fabulous for your wallet! You’ll get fit while your wallet gets fat. Seriously though. Cycling to work, when possible, should always be a consideration when you are looking to save.
#4 Bulk Savings on Bulk Purchases
Retailers all have some sort of sale at some point. Now, we’re not saying you should hoard a bunch of ketchup. But always be on the lookout for these sales and massive savings as you will be more than likely able to save double your ordinary spend.
#5 Avoid the C-Word
Credit. Nasty thing ain’t it? This should become very much like a swear word in your household. Avoid at all cost to do shopping and make payments with a credit card. Not only will you be paying a certain percentage of interest, but you’ll also be tempted to overspend.
Did you find any of our tips helpful? Even if you only try one of these a week we guarantee that you will be laughing after a couple of months. Laughing to the bank that is!
Whether you want to put some cash away for a rainy day, or just want to save up a bit, we’ve got 5 of our
So, you’ve got some cash saved up and you now want to take that leap and buy a car. But, you can’t afford a brand new vehicle, so you are buying from your local second-hand car dealer. That’s great! But, still daunting if you’ve never done it before. We’ve compiled a very easy to follow the list of things to look out for when viewing second-hand cars.
1. The Overall Condition
Specific things to inspect is obviously the engine and inner workings. Check for any obvious problems and leaks. Be sure to ask the dealer if there are any mechanical issues that you should be aware of. Other things to glance over is the overall look – does it have a lot of rust damage to the body? Is the interior neat and still 100% intact? Remember, you want to buy a running, working car that is not going to cost you an arm and a leg to maintain constant breakdowns or panel beating.
2. What does the Fuel Consumption Look like
Very important consideration – do you want to drive 5 miles and end up spending your home’s mortgage on gas? Sure you don’t! If you don’t have much budget for fuel, you’re probably not going to buy a Jeep or a Land Rover. But a second-hand vehicle can also use a lot of gas because of faulty filters and mechanical work.
3. Will You Have to Apply for Vehicle Financing
Most reliable second-hand dealers will offer to finance via an affiliate. Be sure to inquire about the financing available, and how much interest you will be paying. Applying for financing could be a bit of a process, but it is very important to wrap your head around all your options before getting knee deep into debt.
Buying your very first car is an exciting event! Follow these easy tips and you should be able to make an informed decision when you are standing on the dealership’s floor.
So, you’ve got some cash saved up and you now want to take that leap and buy a car. But, you can’t afford a brand
Gas prices seem to increase more and more nowadays. If you have to work out your monthly budget it is important to include a calculation of your monthly spend on gas. This will allow you to see not only how much cash you need to put aside for traveling to work and back, but also what you can save on more eloquent trips over weekends.
Ditch the Vehicle and Switch to Public Transport
Even though you’ll still have to pay for public transport, you will be saving a whole lot of money when you decide to make that switch. This tip is easy to stick to, as we find that most people quite enjoy the daily commute via tram, train or bus. Not only are you saving money, but you are also spending less time behind a wheel. Or, you could…
Buy a Vehicle That is Light on Gas Usage
Even though ultimate saving means minimizing driving time and distance, if you own a car that is fairly light on gas, it could literally save you hundreds, depending on your usage, of course. Another way to save on gas would be to simply only drive when absolutely necessary. Or you could buy a bicycle and voila! No gas spend for your daily commute. And then, of course, you could also simply…
Minimize Driving Distances
This one is kind of a no-brainer. And yet, it could be difficult to implement this tactic. If you love traveling over weekends or going on that little breakaway every now and then, that is fine. But why not try to explore places in your immediate vicinity? If you have calculated how many miles you get on a gallon, it should be easy to calculate the distance you are able to afford to drive extra every now and then.
Sticking to a budget can be difficult. Planning for the unplanned even more so. But these simple tricks should give you some ideas on how you can easily save money on your gas usage.
Gas prices seem to increase more and more nowadays. If you have to work out your monthly budget it is important to include a calculation