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6 Reasons You Might Need a Personal Loan

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Personal loans can be a logical solution to a problem that involves not having enough money to cover a large expense or even to consolidate debt. If you’re in a bind and considering taking out a personal loan but have never applied for one before, then you might be confused and a little wary.

If you have less than stellar credit or are worried about applying for personal loans with no credit, it’s important to make sure that you do your research carefully, and check late fees and interest rate information before you apply. While you never want to apply for a personal loan just for extra money, there are a few times when getting a loan just makes sense.

Home Improvements

Whether you’re going solar, adding an extra bathroom, or just updating the cabinets in your kitchen, it’s going to cost you a tidy sum of money. Money that you might not have easy access to. A personal loan can get you the money you need and help you better your home at the same time.

Trouble Paying Bills

In today’s chaotic and uncertain economic times, many people are finding themselves having a hard time making ends meet. Having trouble paying your bills is nothing to be ashamed of. It’s possible that on top of your normal household bills, you’ll find that the winter is extremely colder than usual, meaning higher heating bills, or the landlord could raise the rent all of a sudden and expect you to pay the extra. A personal loan can help you get back on top of things where you belong.

School Expenses

The cost of going back to school as an adult can boggle the mind. However, if you want to get somewhere in life, that’s often what you have to do. A personal loan could give you the money to purchase books, supplies, and maybe even help on that tuition bill while you’re waiting for your financial aid or student loan to kick in.

Car Repairs

Car repairs seem to always be needed when you least expect it, and when your bank account is dry. A personal loan can help you fix your car, and keep you from missing work or having to beg for a ride with someone. Your car is something that you’ve got to have, so waiting to get it fixed in most cases just isn’t an option.

Debt Consolidation

Often, you get to the point where you’re sinking into debt, you’ve maxed out your credit cards, and you aren’t sure which way to turn for relief. Debt consolidation is an option and a personal loan can make that possible for many people. You do want to do your research well and figure out what the best way to consolidate your debt is. For credit card debt, a personal loan works super well, because you’re getting out of all those interest and late fee payments every month, and just paying one simple bill, instead.

Covering the Holidays

While this might seem to be a bad reason for getting a personal loan, more people than you might think use these loans for the holidays. The last thing you want to do is max out your credit cards or drain your bank account with holiday spending. Instead, take out a small personal loan to get through the holidays and pay it back throughout the year.

These are just a few of the reasons that people get personal loans. It’s nothing to be ashamed of, and in fact, has helped many people through quite a few bad situations in the past and will in the future as well.

Ways to Live on a Single Income

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With schools either adopting remote or hybrid instruction due to the continuing pandemic, many parents find themselves at home tending to the needs of younger children. This presents challenges for families where both parents work full time. As a mom, you may consider taking time off from your current employer or leaving the office indefinitely for the foreseeable future. Thankfully, if you made the decision to remain at home, there are ways to cut expenses and live on a single income.

Taking Out a Personal Loan

Taking out a small personal loan to pay off credit card debt will allow you to focus on household expenses and keep your bills current. There are a few other advantages too. First, you won’t accumulate added interest and secondly, you will keep your credit in good standing. Make sure to shop around to make sure that you acquire the lowest interest rates. Credit union loans are among the lowest available, so they make a great place to begin your search.

Commuting Cut in Half

With only one person commuting to work, you can cut the expense in half. You only need to put gas in one car and your second vehicle will last longer. You can also cut costs on clothing, lunch, and the morning coffee purchased on the way to the office.

What You Can Remove

When faced with life-altering situations, compromise is necessary. Reducing expenses for your budget and cutting those things that you can live without, will free up money to cover your essentials. For example, cable television is extra and not essential. You will need the internet for children’s learning lessons. However, when it comes to television, you can reduce the plan to basic, giving you a savings of up to one hundred dollars. If you have memberships such as for the gym and monthly subscriptions, these are items you can cancel and resume once you return to work.

Get the Best Price

Awareness of what you spend is more important than ever. Every dollar you save is money you retain in your pocket. Coupons provide an effective way to save money. Using online coupon sites you can select the ones that apply to items on your weekly shopping list. To save even more, check the fliers printed by local grocery stores and compare prices prior to your outing. Depending on the size of your family, you can save twenty dollars and more each week on food shopping using this method. The same applies to anything you buy. Conduct a thorough search to make sure that you get the lowest price.

Earning Money from Home

You made the decision to stay at home to help with schooling and provide care for your children. Since you’re already at home, taking on a part-time job that you can do while children are working or later in the evening, will supplement your monthly income. Freelance writers and tutors are two part-time jobs in high demand and as such, worth consideration. Or, perhaps, you have a hobby and you’re good at it. Selling these items online can bring in extra cash.

Living Within Your Means

It may prove difficult initially, refraining from spending money on the things you enjoy. After all, up until this very moment, you were financially stable and experiencing a comfortable life. However, for the short-term, living within your means is necessary to sustain a good quality of life. Spending money on frivolous purchases must come to a halt to stay afloat. Avoid dining out, impulse purchases, and putting any debt onto a credit card. These are all steps in the right direction.

The year 2020 has proved to be challenging for many families. If you cut back on your expenses and find ways to save money on the items you need, you’ll be able to live life comfortably on one income until your children return to school full time.

We’re Getting Hitched: Save-The-Date Tips for Engaged Couples

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It’s finally happening. The love of your life has asked for your hand in marriage. While you’re reveling at the moment, the journey to planning your wedding has begun. Once you’ve ironed out some basics like your wedding date, the theme, and location, you’re ready to let your friends and family in on the big news. Though you could quickly spread the word through individual phone calls and conversations, today’s couples opt to send out save-the-date cards.

What is a Save-The-Date Card?

Save-the-date cards are nothing more than pre-invitations. Their purpose is to let friends and family know about your upcoming nuptials and that their attendance is requested. When received, your intended guests can lock-in the day well in advance. It also gives them adequate time to call out from work, save for a gift, and make arrangements for transportation, childcare, and hotel accommodations (if necessary).

When to Send

Since save-the-date cards are pre-invites to your wedding, you want to send them out well in advance. If you’re planning a destination wedding, it is recommended that you mail them at least a year in advance. For local weddings, putting them in the mail six months ahead of your wedding is advised.

Hiring a Printing Company

While some couples opt to design and print save-the-date cards themselves, paying for the stationary, ink, envelopes, and postage is often a lot more expensive. Not to mention, the time it takes to design and distribute the cards properly may be more than you have to spare. As such, it’s best to hire a company to do the printing for you. Opt for a printing service with multiple templates, easy-to-use customization tools, quality results, and affordable rates.

Designing The Perfect Save-The-Date

After finding the best printing service, you’re ready to begin designing your save-the-date cards. While you may have some ideas in mind, here are some tips to make things easier:

  • Paper Selection – Before you begin thinking of images, patterns, and colors, you need to select a paper type. Though there are several types of paper to choose from, cardstock is your best option. This type of stationery is thick and ideal for printing everything from text to photographs. They have various colors and textures for you to choose from. Some couples have opted to forego the paper and design save-the-date magnets. Whatever you choose, it is ideal to select the same theme you’ll use for your invitations, programs, and thank you cards to keep things uniformed.
  • Wording and Font – What you put on your save-the-date cards is essential. Though you only have a few details of your wedding worked out, you want to include as much as you can for your guests. Ideally, you should put the name of the couple getting married, your wedding date, and the location or venue where you plan to tie the knot. If you have a wedding website or special rules (like adults-only), this information should also be included on the cards. As for font, while going with scriptwriting is expected, make sure that the essential details are legible.
  • Image and Design – Now comes the fun part of creating save-the-date cards for your wedding, designing, and pictures. You can opt to create a design from scratch with your engagement photo and chosen colors. There’s also the option to use templates provided by the site to give you a headstart. Either way, the idea is to capture as much of your special day as you can on a card. It should reflect your personality and give guests an insight into your love for one another. So, don’t be afraid to let your imagination run wild.

Once you’ve gotten engaged, the first thing you want to do is to let everyone know about your upcoming nuptials. Save-the-date cards are the perfect way to get it done. Not only are they a keepsake, but they provide your guests with vital information to ensure they can attend. The tips discussed above help you design cards that you and your guests will cherish forever.

Are You Ready for Homeownership?

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Owning a home is part of the American Dream. However, if pursued unprepared, it can become a nightmare. There are many responsibilities and costs associated with not only the purchase but also the maintenance of a home.

Finding a Home within Your Budget

When searching for a home, make sure it’s affordable. Staying within your budget is essential. A new home that doesn’t require any labor may be ideal. However, the price tag may be more than you can handle financially. Don’t dismiss an older home with possibilities, especially if the price is well within your means. If the inside needs some work, consider contacting local concrete contractors to acquire an estimate for the cost of completing the work.

A Good Credit Score Saves Money

Checking your credit score prior to beginning your search for a home is important. The higher the score, the better the chances of acquiring the lowest interest rates. Obtain a free credit score through the three valued agencies. If there are any errors, address them prior to applying for pre-approval on a mortgage.

Sizeable Downpayment

The more you put down on a home, the lower the monthly payment. Most banks require a 20 percent down payment to avoid PMI insurance. PMI can add a few hundred dollars to the monthly mortgage payment. Take this into consideration prior to buying a home. A larger down payment will also improve your chances of obtaining a mortgage through a traditional bank.

A Nest Egg

Aside from the mortgage payment, you will have to pay for homeowner’s insurance as well as school and property taxes. Depending on your location of interest, this can add several hundred and even a thousand more to your estimated mortgage payment. Additionally, you will have utilities, water, and garbage removal payments. Having enough money to cover a few months’ worth of bills in reserve will ensure that you don’t fall behind on your payments.

Home Maintenance

Homeownership requires regular maintenance. You will need to replace things like the roof and, on occasion, repair the plumbing. Decks need staining every few years and floors need resurfacing. Climate can cause excessive wear and cause maintenance requirements to become more likely sooner versus later. High winds and dampness can wreak havoc on a home’s exterior. The older the home is, the more urgent these items will become.

Are You Looking to Move?

Part of the home buying process should include careful consideration of the time you plan on spending there. Are you sure this is where you are going to live five years from now or are you considering moving to another state? There’s no guarantee that, if you plan to move in the not-too-distant future, you will be able to sell your home for the price purchased.

Excessive Debt

Buying a home when you are thousands of dollars in debt may not prove a good decision. Anything can happen such as a loss of income or an unforeseen illness. Without extra cash, you may end up losing your home. Instead, reduce your debt to a comfortable level that’s easy to manage. This way, if something unexpected happens, you improve your chances of staying in your home.

Homeownership Isn’t for Everyone

You may like the idea of owning a home, but not the restrictions it produces. A home costs a lot of money across the board. If you like to vacation several times a year and enjoy a carefree lifestyle, owning a home will limit these events. Make sure before you begin the process that you’re committed to homeownership. Otherwise, you may live with regret.

There’s a lot of expenses that come with the purchase of a home. Make sure you have the down payment, good credit, and savings to cover unexpected costs.

How to get Money to Help You Through a Crisis

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Emergencies come in many different shapes, sizes, and forms, and they’re emergencies because they are something you weren’t expecting. If you’re in crisis, then you’ve probably gotten behind on your bills or just need help keeping your head above water. 

Even if you’re amazing at budgeting, sometimes things happen that can’t be helped. Below, you can find a few ways to get the money you need to get by when a crisis strikes. 

Borrow Against Your Life Insurance

In times of extreme crises, many people have borrowed against their life insurance policies. Before you do that, make sure that you ask yourself a few questions. Is life insurance taxable? Can I pay this back over time? Is this the only way to get the money I need?

Borrowing against your life insurance should only be done if you have very little choice, especially if there are other options out there. 

Work a Side Gig

If you’re not in immediate need of the money, then working a side gig to bring in extra income is preferable to almost everything else on this list. There are plenty of gigs that can be done online, from writer to author and from social media influencer to being a personal assistant. 

If online work isn’t for you, try setting up a house sitting or dog walking service instead. You’d be surprised at how quickly you can get your bills caught up when you’re bringing in extra money. 

Unemployment Benefits

If you’ve been laid off from your job because of something that was no fault of your own, you can apply for unemployment benefits to see you through until you can find more employment. You can apply online, in person, or over the phone in the state that you were last employed in. 

Apply for a Personal Loan 

From credit card consolidation to paying for an emergency, applying for a personal loan can be a temporary fix. In many cases, you can get the loan within one to two days of applying. There are also loans that you can apply for that help people with less than stellar credit as well. 

Credit Card Advance

If your credit cards are still in good standing, you can get a credit card advance to tide you over or take care of an emergency. You want to be careful with these advances, however, as these advances come with high fees and high interest rates that might land you in more debt than you already were. If you can’t pay the payments on schedule, it’s possible that you’ll ruin your credit in the long run. 

Refinance Your Mortgage

Refinancing your mortgage is another option that many choose when they have a crisis. Like borrowing against your life insurance, this is an option that you only want to take if you have no other choice unless you might be in a good position to sell your home, maybe to a cash buyer, so that you can liquidate your asset to pay off debt and find a cheaper place to live. 

Borrow from Family or Friends 

While probably the least desirable option on this list, you could try to borrow from family and friends when a crisis arises. You do need to be careful with this option, however, as money issues have split families and friendships many times before. It’s best if you have a contract written up and add interest as well as when you’ll make your payments to be on the safe side. 

These are just a few of the ways that you can get the money you need during a crisis. Do your research and think long and hard about which option you choose, because either way the money has to be paid back. 

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