Category Archives: Advice

Get into (financial) shape courtesy of Cash Genie

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Cash Genie is committed to responsible lending standards, and it’s a business principle that clients should not have to come back and use the short-term loan services over and over. Apart from anything else, it’s not smart commercial sense, because encouraging risky financial practices means that clients are more likely to default on their debts! So a part of the service is helping customers to organise their budgets in such a way that they won’t need to opt for such loans in the future.

The best way to do this is to scrutinise your spending: all of it. It sounds like a big deal, but it can make a huge difference. Break it down if it seems too much. First, check all of your major outgoings: rent or mortgage, bills, utilities, phone, internet, debt repayment, council tax and so on. It may be that you can save money already by changing providers for one of these. In the case of a mortgage, that could save you hundreds of pounds or more a year. Others might mean you have an extra ten or twenty quid at the end of the month – still worthwhile.

But the most surprising figures are likely to come from the expenses you barely see. These are the small, cumulative expenditures you notch up over the week. When you look at them over the course of the month and year, they can make a huge difference. Buying a coffee on the way to work every morning? That’s only £2 or so, right? But that’s £10 a week, £40 a month or getting on for £500 a year. That could represent an instalment on your mortgage or a month’s rent. Similarly, buying a sandwich and drink every day instead of making a meal at home? Easy another £1,000 a year. The same goes for the odd night out: it’s very easy to lose track.

Cash Genie recommends keeping an eye on these little expenses. It doesn’t mean you have to deny yourself entirely – no one’s saying that you shouldn’t enjoy the odd treat or lunch out. What’s important is that you know what these are actually costing you. Once you know that, you can decide whether the convenience or treat is really worth it, if the ultimate result is staying in debt (and therefore having to pay more through interest) in the end. Plus, if you’ve got debts you need to pay off, this can be a great motivator. If a couple of drinks a week fewer means peace of mind in the long term, then it’s no contest.

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

http://www.cashgenie.co.uk/

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Instant loan approval: when is it the right time?

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Christmas isn’t supposed to be all about presents, tension and expenses, but for lots of people it can turn out that way. A large number of families go into debt over the holiday period – in fact, it can often take almost the whole of the next year to pay it back. Much of that debt will be on credit cards and overdrafts, but sometimes there’s a problem more worrying than the interest rates – fines for late payments, and even worse at times. Those are the occasions when a cash advance can make sense. instant loan approval can have the result that a sum of money is in your bank account on the same day (for an extra fee), or within the normal three days. Such a short term loan might be the answer to the problems caused by overspending in the run-up to Christmas.

Whenever you consider taking advantage of such a loan, it’s important to do the maths before you do. The only question you really need to ask is whether it makes sense financially. If the consequences of not securing such a loan – which are generally given for a period of one month, at rates of around 30 percent – are more expensive than the cost of the loan, then that may be all you need to know. If not, and there are alternatives, that’s another answer. There’s also the short-term/long-term issue: if securing a short-term loan is just a strategy of staving off problems until the next month, when the same thing will occur again, then it’s not really a fix at all. It simply delays the inevitable of rewriting your budget and getting to grips with the figures of income and outgoing – and curtailing expenditure to sustainable levels.

Thus it’s best to look at a cash advance as a last-ditch solution to money problems, if the consequences of not taking a short-term loan will be more problematic. instant loan approval surely has its place, but it’s not for everyone. Many people will be able to find an advance more cheaply – assuming you have access to credit cards and overdrafts, you shouldn’t need one. Others will not, and if there are no alternatives then it may be worth looking into. Fortunately, as the term suggests, the loans are almost instant; fees should also be stated somewhere obvious, and the credit check carried out online and normally within a couple of minutes of your application. Companies screen their clients carefully to make sure you’re likely to be able to repay, too, as non-payment isn’t good for either of you.

Please visit http://www.cashgenieloans.co.uk/