archiveSeptember 2019

Find a Cheap Loan Deal
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Find a cheap loan deal

How do you find a Low Rate Loan?

So you want to repair or renovate your home, maybe buy new furniture or appliances, maybe upgrade or repair your car, maybe buy a new home computer or enhance your educational level or something? Whatever it is that you plan to do during this recession period, rest assured it will cost you some money. While these things are all very important as they are part and parcel of life, you can make your dream come true by availing low rate loans. But how do you find such a loan in such tough economic times that we live in today? How do you choose the best low interest rate loans? And how can you be certain that they are the best and lowest rate loans in the market? Here is how you should approach the whole process.

Low Rate Loan

Low Rate Loan
Low Rate Loan

First and foremost, check online for low interest loans. The internet has proven to be a very good source of affordable low interest loans. You only need to key in ‘low rate loans’ in your favourite search engine and you will be presented by thousands of results of websites that offer low rate loans. While most of the online service providers are genuine, it doesn’t mean there are not unscrupulous dealers out there. To be sure you are dealing with a genuine online loan provider, ensure the website is approved by the Better Business Bureau.

One way you can be guaranteed of a low rate loan is to check your credit score. This is because with a more than perfect credit score, lenders will reward you by giving you a less rate. Request for a free credit score report from independent credit score companies so you can check of any wrong entries in the report and ask for corrections immediately before you go out there and apply for the low interest rate loan. You might also want t ensure you pay up all your existing loans and debt so you can reduce your credit burden.

Credit rating can be a burden

Credit Rating can be a Burden
Credit Rating can be a Burden

Be advised that if you have a bad credit rating you will automatically qualify for a high are loan as you are considered a high risk customer. In order to avail a low rate loan with a bad credit rating, you can ask a close friend or a close relative to be your guarantor when you apply for the loan. This way, at least the lender will have somewhere to fall back to should you default repaying back the loan.

You can also negotiate for a low rate loan. Remember there is very stiff competition in the loan market today and lenders are always ready to go to the extremes if only to earn your business. So, even if a loan appears to be a high rate loan, you can put your negotiation skills to test and start negotiating for lower rates. You could be very surprised by the savings you will get just by taking this action alone, besides, you have nothing to lose if you give it a try.

Saving Money
Saving money

Saving money

Saving Your Money

How many times have you wished for a big lottery win? If you are like most people, the thought will probably have crossed your mind at least once or twice. Whilst a plump jackpot would be a lovely addition to your bank account, there is really only a very small chance that a lottery dream could become a reality. Therefore it makes sense to look at realistic ways to increase your assets without crossing your fingers in front of the TV late in the evening.

Saving Your Money
Saving Your Money

That is where the concept of saving comes into play. Many of us are well-trained in the act of spending, even with money we do not have sitting within a savings account! Saving money is an entirely different kettle of fish; it is all about living comfortably within your means whilst your money accrues to become a worthwhile asset.

If you are keen to have a few (or a few hundred or thousand) more pounds to your name, here are a few tips for making saving a reality:

Resist temptation

Resist Temptation
Resist Temptation

The very first recommendation for you as a new saver is to make it a bit easier on yourself by resisting retail temptation. Window shopping often sounds like a great idea when you want to avoid splashing the cash, but it is really easy to convince yourself that you need the pair of trainers you see in a window, or even a car on a showroom floor. By removing yourself from this situation for a reasonable amount of time, you may be able to learn to resist spending where it is not strictly necessary.

Find the right investments

Find the Right Investments
Find the Right Investments

One of the next things to consider is how you will actually go about saving your money. There are many different ways such as general savings accounts, ISAs and shares. It is worth checking the most recent rules and regulations regarding savings products as there may be something new that you don’t already know about. One example of this is peer to peer lending becoming included within ISAs.

Think long term

Think Long Term
Think Long Term

Of course, many types of investment require you to think about your income and your financial obligations. Many forms of investment have the chance to generate you more interest and assets if you are able to commit to a longer term product. That is why the rates for ISAs and shares differs – some will allow you to access your cash fast, whilst in others it is held for a pre-agreed period of time.

Keep up the good work

Once you are on your way to a more comfortable financial future, you will want to continue what you are doing. This can be difficult to achieve alone, which is why many financially savvy savers recruit the assistance of an impartial advisor. Financial advisors are a good bet if you want to find out about new products and ways to invest; and the best part is that your advisor will have your interests and specific situation in mind.