MONEY MANAGEMENT DOESN'T HAVE TO BE COMPLICATED.

Manage your money. Become debt free.

MAKING MORE MONEY

Make extra income through side hustles, side income, and investments.

UNDERSTAND CREDIT

Learn to use your credit card and loans as tools for a sturdier financial future.

MONEY SAVING HACKS

Discover how to save money and get to the place you need to be.
Steps to better money management

Build your financial behavior

Work. Save. Retire: At your own pace.
Financial Understanding
Cash Flow
Investment Planning

Personal Loan Rejected? Know The Reason Why!

A personal loan can definitely help you to any emergency financial needs, but being rejected every time you request can be a little bit alarming. If the moneylender in the Philippines is hesitant to inform you the reasons why you are rejected, here are the few criteria you should review.

You have a bad credit history

This is a self-explanatory factor why your loan is rejected. Just imagine yourself lending money to a friend who’s not disciplined enough to pay you back, are you be willing to lend him again? Of course not, just like in a moneylending business. If the applicant for a personal loan has a bad credit history in credit cards, appliance companies, 100% of the request is rejected.

The details you have provided are incomplete

Transparency is the key when applying for a personal loan. Most of the moneylending companies in the Philippines have designated team for verifying and collecting data as well as funds. Not providing the exact address of your location, complete name and proofs of billing, tendency loan request is rejected. Submitting incorrect requirements to the moneylending company makes them think that you are a spam or a competitor trying to lurk their system.

You are a job hopper

Requesting for a personal loan then you’re a job hopper may not go as you planned. You must have a steady source of income if you want to apply for a loan. Other than having a steady income, the following are also essentials:

  • You must be in the legal age of at least 21 years old and above and working
  • You must be employed for more than two years
  • Your personal loan amount should not exceed your average monthly income.

Always review these factors when applying for a personal loan. By now, you should work on your credit history if you want your loan to be approved.

Why Should You Get an Online Loan

Before online loans came on the scene, people working in lending agencies had a very struggling work schedule; particularly those who had to deal directly with borrowers. Different kinds of borrowers, with different types of queries, had to be dealt with. This was very difficult, and lending agencies were looking forward to a loans process that was less difficult.

In online loans, the lending agencies saw a method whereby they can ease the loan process significantly. Through online loans, lending agencies need not deal with the customer traffic. Not only is work made easier, lending agencies can now save on the cost of personnel by adopting online loans.

An online loan is based on the internet. Most loan company such as banks and financial institutions have their personal website. And whoever needs a secured as well as unsecured loans from these banks and financial institutions, simply visits their website and fill the online application from there.

The advantage of using online loans is that borrowers do not have to allow extra time to visit the lending office. The website is accessible from any place one can easily fill the application form from his home, provided there is a secured internet connection. Similarly, there are no particular timings for the application too. Apply according to your convenience. There is no official closing time. So even if one applies at midnight, his application is accepted.

A better alternative to dealing with lending agencies directly will be to go through brokers. A broker has links with several lenders, and borrowers can view the offerings of all these lenders, all through a single application to the broker. When the search for online loans is conducted over a wider area, there are big chances of getting the best deals.

Brokers also help borrowers in distinguishing between the good and not so good deals. Brokers are aware of the ins and outs of the field of loans. They can extend their knowledge to borrowers by sourcing deals from appropriate lenders. Certain brokers also tend to advise borrowers about the issues involved in online loans.

Another advantage of most online loans is the loan calculator. A loan calculator helps to compute the monthly payments for amortization. Most websites have an online loan calculator. When a person submits details about his loan such as loan amount, the rate of interest, and a number of repayments, he gets the monthly payment. If the monthly payment is not as expected, one can again clear all details and put in the updated details.

Online loans promote convenience and independence. And most loan providers today are not complaining since online loans bring convenience for them as well. Online loans have certainly benefited borrowers significantly. Through online loans, borrowers to get a convenient method of applying for loans.

3 Easy Ways to Prepare for Retirement

Retirement – a phase that many people don’t pay attention to. This phase is far off the road and it paints a mental picture of old people enjoying serene beaches and parks. However, times have really changed. It’s wiser to prepare for retirement while you’re still young and full of energy. Also, there are modern institutions and groups that can help you fund your retirement.

But if you want to fund your retirement on your own, these are some workable strategies that you can apply:

Build a Scaling Savings Fund

A savings fund is a good thing, but a scaling savings fund is even better. What’s the difference between the two? Basically, a scaling fund means that any amount of money you put towards it will have increments.

The amount will be cumulative so that your savings fund will keep on growing. This technique is useful because it will cover all possible expenses during your retirement phase. You just need to be financially disciplined in putting cumulative amounts. It’s like having a growing financial nest egg driven by your efforts.

Seek Investments

Securing investments is the traditional way of preparing for your retirement. There are many investment options that you can choose from, such as stocks, bonds, mutual funds, commodities, jewelry, master resale rights, online assets, royalties, collectibles, and treasuries. You can even invest in startups or in people, but you need to be wary in doing so.

With the help of the Internet, educating yourself about these investments is not a difficult thing to do. You just need to spend time on researching and understanding markets related to your investment.

Use Leverage

Check out the worlds’ richest businesspeople. How do you think they reached their financial prowess? The answer is leverage. You can use leverage in funding your retirement. First, you need to create a system that can be duplicated by thousands of people.

Second, you must live out that system honestly so that you can reap its benefits. A leverage-based system can help you attain wealth, resources, or influential contacts that can benefit your retirement. The earlier you work on this system, the more successful it can become.

We all have different methods of approaching retirement. You can even choose the age when you’re going to retire. What’s important is that you accumulate as many resources and memories as you can. By doing so, you can enjoy your golden years peacefully.

Beware of These 3 Dangers of Credit Card Rewards!

Credit card companies know exactly what you truly love and that is the reward. You will do everything to increase your points just to get an ample amount of rewards. No matter how much effort you exert and how long it takes. Usually, the more money you spend using the credit card, the higher points you will get.

Therefore, if you are not thoroughly aware, here are the top three dangers of credit card rewards.

  1. Cashback

This is similar to any brands at the grocery store providing additional freebies when you buy two boxes of milk for only $10 then you will get another 50ml of juice. When in fact the two boxes of milk are worth $12, these brands will make you think that you have saved at least $2.

When it comes to credit card cashback, they promise to give you 1% cash back when you spent at least $2,000 and you will get $20 Do you really need to spend $2,000 just to get the $20 cashback? You could save that amount to important matters like paying your electric bill, water bill, tuition fees of your kids.

  1. Annual Fee

Most of the time credit card companies offer free annual fee on your first year, but on your second year being a cardholder, you have to pay for the fee, regardless if you are a monthly user or not.

The annual fee of every credit card ranges from $25 up to $1,200 depends from the company you have applied. You can lose all your reward points if you fail to settle the annual fee on time.

  1. Interest Rate VS Credit Score

Sudden financial needs for the kids’ tuition fee or one of your relatives asked for financial assistance for the hospital bills are two of the most reasons why you are not able to settle your accounts on time. Even if you are a good payer but missing out just a single payment, your credit score will be at risk as well as the interest rate can get as high as 10%. What’s worst? Your reward points may decrease; depend on the credit card company policies.

How to Find The Best Loan For Your Needs

For a lot of people who are just earning from their employment, taking loan has become a normal feature but sometimes circumstances do not favor us, and we find ourselves under the burden of multiple debts. The unwanted reminder call, different repayment tenure, varied rate of interest irritates us. This makes it very difficult to deal with debts. Debt consolidation loan comes forwards and evaporates all your financial worries in one single step.

A Debt Consolidation Loan works in a very simple manner. It merges your entire multiple outstanding in one manageable monthly payment. To pay your multiple debts on the single rate of interest. This will be low compared to your previous rate of interest on your multiple debts. It will also reduce your month outflow as you will be required to pay a smaller monthly payment.

Since the rate of interest on a debt consolidation loan is low, the number of monthly installments is also small. One can deal with the single creditor. This program also works to reduce creditor harassment by getting rid of unwanted calls from your previous lenders.

You can get tax benefits on the interest that you pay on a debt consolidation loan and manage a single loan since all loans are consolidated into one loan.

Like any other loans, Debt Consolidation Loan may be secured as well as unsecured. In secured consolidation loan, you need to put something as collateral while in unsecured; there is no need for it.

The amount you can borrow for consolidation will depend on your unpaid debts. The term will depend on the amount borrowed, repayment ability and income. Monthly payments on a debt consolidation loan are carefully decided to keep in mind how much you can afford.

Borrowers with bad credit too can avail it. Debt consolidation for bad credit provides you an opportunity to mend your credit score by making payment in time. Sometimes debt consolidation companies can discount the amount of the loan. When the debtor is in danger of bankruptcy, the debt consolidator will buy the loan at a discount.

There are many financial institutions, leading lenders, and credit unions which are available online. Browse and get a competitive quote, compare them. This will give you a fair idea to decide the right one.

How to Free Yourself From Paycheck-to-Paycheck Lifestyle

Do you wish that your life does not revolve on the cycle of working-paying bills, and maybe a bit of splurging? You are not the only one. Many people find themselves working for years but still do not have a lifesaver fund in the bank. Like you, they are still struggling with how to make their personal finance secured and stable.

What to do? Here are some tips that can help you get out of this restricted financial life:

Review your financial situation

If you always go over your monthly budget, you need to assess what is going on. List your earning and spending. If there is a deficit, what causes it and what can you do about it?

Make a lifestyle choice

It is your call. Whatever your choice will affect the quality of your life- for the better or for “worse.”

Ask yourself the following vital questions:

  • Do you need the coffee from the famous cafe?
  • Do you reward yourself every payday or week for working hard?
  • Do you need to upgrade your mobile plan or cable subscription?

They are just some of the many personal finance matters that you need to address if you want to get out from paycheck-to-paycheck existence.

Categorize and prioritize your expenses

List your expenses and put them under two categories- needs and wants. Then, based on their urgency, make a priority. This strategy will help you cut down unnecessary spending.

Record all your spending

It is necessary to track down your daily expenses to know if you are spending within your budget or going overboard. A clear and updated record will help you achieve your financial freedom soon!

Be smart and practical

A lifestyle that is balanced makes you manage your personal finance better. Do not splurge on luxurious or branded products so much. You don’t need many bags or shoes or clothes. Refrain from using your credit card a lot. Use LED lights to cut down your electricity bill.

Find side hustles

Increase earning by utilizing your skills. There are many online jobs available that you can do during your free time. Seize the opportunities. You can also sell products online.

These are some of the most effective strategies that will free your current lifestyle. Thus, helping you achieve your long-term personal finance goals. Better to begin NOW!