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Showing posts from July, 2018

6 Dos and Don'ts of Shopping for a Personal Loan

Your monthly salary typically covers three types of expenses: fixed, variable, and discretionary.  If your monthly earnings can’t pay for all these and some other unexpected expenses, you will need to look for an additional source of funding. A personal loan can help you pay for all these expenses if you are having a hard time doing so. It can also serve as a cash cushion and as an emergency fund which you can dip into whenever you need to. Finding the Right Personal Loan To get a loan that will meet your needs and payment capability, you need to shop around for the best product first. Here are some dos and don'ts of shopping around for your first personal loan: Dos 1. Check your credit score Before you begin your search for the best personal loan, check your credit score first. There are various online tools you can use to be able to do this. If your score is a bit low, certain websites can give you tips on how to improve it. Make sure you complete this ste

3 Things You Need to Know Before You Finance a New Home

Financing a home may seem like a daunting prospect when we think about all the paperwork that is sure to be involved. The truth is that while the process is undoubtedly thorough, it need not be intimidating at all. Preparation and readiness can help remove most anxiety about home financing. Here are three things you should know before you finance a new home 1. Personal finance homework saves time and money Gather your credit information. All lenders will look at your various documents – savings, taxation, outstanding loans – and decide if you are creditworthy. Make sure all your documents are to hand. Also, ensure that you are up-to-date on payments with any loans you may have including credit card bills. Next, work out the cost of the home purchase process. The purchase price is one thing but work out all the other expenses as well. Interior work, taxes, stamp duty, repairs, additions, remodeling, furnishing, moving charges, exterior work, all these need to factor into your