Should You Use A Personal Loan for a Computer: Power On!

We may try and try to keep our bills paid and money in the bank, but many of us find ourselves living paycheck to paycheck or barely above that. Something unexpected hits, and we lack the money to take care of it. Now we have to make a decision: take out a loan or not? Though debt is never the best option, sometimes taking out a personal loan can be a good idea, but is a personal loan for a computer one of those times? Read on to learn more.

When Is Taking Out a Personal Loan a Good Idea?

In order to answer this question, you need to answer a few more like:

What is the loan for?

Do you need to get a computer to run your business to pay your bills and eventually this leads increasing your net worth or do you just want to go on a shopping spree? The purpose of this kind of computer shopping loan will greatly weigh in on whether the loan is a good idea. Obviously, fixing your car to get back and forth to work is important and would likely to be a good reason to get a loan, especially if you have no alternative modes of transportation. However, taking out a personal loan to simply go on vacation or to just have a good time, step away now! It is not worth the debt.

Likewise, if you need a computer for work or school, a personal loan for a computer might be worth it. If you just want the computer to scroll through social media or stream videos, it would be better to save up money and purchase it outright.

Is it necessary?

Are computer personal installment loans the only way to take care of this situation? Could you have a yard sale instead or borrow from a friend with no interest? Do you have enough time to budget and save for a few weeks? Could you pick up an extra job and get paid in time? If there is absolutely no other way to take care of your problem in the necessary time frame, you should probably consider a loan. Just be sure you have exhausted all other known possibilities first as debt is debt, regardless of why it is there. If you can borrow a friend’s laptop when you need it or even use the library computers, it may not be necessary to take out a personal loan for a computer. If you do not have consistent access, a loan may be worth the consideration.

Can you afford to pay it back?

A major factor is whether you will be able to pay the loan back. Not paying a loan can lead to repossession of items, the lender taking whatever you put up for collateral, and messing up your credit. It takes so much longer to fix credit than it does to destroy it. Look through your finances carefully to decide if you can pay it back. If not, getting a loan is not a good idea.

Are you willing to make payments consistently until it is paid off?

Once you take out a loan, you are responsible for it. You will be required to make scheduled payments until it is paid off. Are you willing to stick with it? Can you diligently work on paying off the loan to prevent bad marks on your credit?

How will taking out a loan affect your quality of life?

Will making the payments on this loan interfere with your ability to buy groceries? Will you still be able to comfortably buy your baby diapers? Are you going to have to work two full-time jobs? Will you need to take out an additional loan to simply cover regular bills? Having to make some sacrifices is one thing. If you have to skip necessities or run yourself into the ground to pay back a loan, you should probably stay away from them. If you can pay back the loan with nothing more than sacrificing your daily Starbucks run, a loan is worth the consideration.

https://www.loanry.com/blog/things-to-know-before-getting-a-personal-loan/

 

Should You Take Out a Loan for a Laptop?

Most people answer with “Yes, if you can make money using the computer“. The popular opinion is that the only ok debt is for a home, a car, or a degree. Let’s face it though- we live in a digital world and a laptop is often necessary. The question is whether it is necessary enough to get a personal loan for a computer? Below are some pros and cons of getting a personal installment loan to purchase a laptop.

Pros- Personal Loan for a Computer

  • You can get the laptop immediately instead of having to wait until you save enough. If you need the laptop ASAP for work, school, or some other project, accessing the laptop now is a priority.
  • It can help to build your credit- if you can to pay it back. Small personal loans can improve your credit report if you make timely payments.
  • A personal loan can be less expensive than retailer financing. The interest charged by retailers is much higher than that of personal loan lenders.

Cons- Personal Loan for a Computer

  • Unless you can pay the loan off immediately, you are looking at paying interest. Paying more than the item’s amount is never fun. Sometimes the interest can add up to the amount of the item.
  • Most personal loans do not go under $1,000. That means you will be borrowing more than you actually need. If you need that money for something else or can put the extra away to make your first loan payment, this may not necessarily be a bad thing. As a general rule, however, borrowing more than you need can lead to trouble. Remember: the more you borrow the more you have to repay.

Can I Take Out a Personal Loan for a Laptop?

You can get a personal loan with these simple steps for just about any reason. Though they ask what the loan is for, the lender cares much more about your ability to pay the loan back than they do the reason you are requesting it. If you choose to take out a personal loan for a computer, do not accept the first loan offer you get. Do your research to find the best loan terms and interest rates available to you. Just as you shop around for a car you should also loan shop for a laptop. You can do this from the comfort of your couch because these days you can easily do your computer loan shopping online from your phone. Websites like Loanry can help you find a personal installment loan lender.

Using a Credit Card to Purchase a Computer

You may be wondering about buying a laptop with one of those handy things we call credit cards. A credit card can, of course, pay for a laptop, just as it can pay for anything else. With a credit card, as long as the item is within your credit limit, you can bring the item home as soon as you purchase and put it to work.

However, there are cons to using credit cards, as well. If you do not pay off the full amount by the end of your billing period, you are charged interest. Sadly, if the bill is not paid fast enough, you could be paying at least half the amount of the item in interest alone, many times more. You have to decide how much you are really willing to pay for that laptop. If using a credit card is the route you choose to go, be sure to shop around for the best credit card for you.

Shop for a Loan

How Does Computer Retailer Financing Work?

Retailer financing means that the retailer is loaning you the money to purchase an item, which is a laptop, in this case. At times, you are required to pay a down payment but not always. The retailer will check your credit score to determine how likely you are to repay the loan. If your credit score is high enough, they will discuss loan options and terms with you. Approval rates are higher for this type of financing than a traditional loan. If approved, you are billed and pay for the laptop over time, much like a credit card.

Sounds simple enough, right? Not so fast. You have to find the catch. There is generally always a catch. Often, retailers advertise “90 Days Same as Cash”, “0% Interest for 24 Months” or something similar. It sounds extremely tempting but is often misleading. I once worked for a retailer that ran deals like these and I saw how often people were surprised after the special financing period was over. As far as 90 Days Same as Cash goes, you have 90 days to pay the item in full without any interest being added. If you do not pay the item off during that 90-day period, the interest is compounded and seemingly out of nowhere skyrockets. That interest you thought you were avoiding for 90 days has just been added onto your bill.

What about the “0% Interest for 24 months”?

What about the 0% Interest for 24 months? It is a great deal for those that can pay off the amount during those two years, but the same compounded interest applies here. You can take full advantage of this deal if you make more than your minimum billed payment and get the item paid off before the interest kicks in. The bottom line: you need to understand what your payments will look like after the special financing period is over. Read the fine print and ask questions until you are clear on the matter. If you decide that retailer financing is the way you want to go, learn everything you can about what you are signing up for so there are no surprises later.

Computer Loans for Students

Most students find themselves in need of their own computer. Between research to complete, graded online discussions, and papers to write, library visits every time you need to use a computer is tough. Some schools understand this. They solve the problem by providing a laptop to the student. They simply add the cost in with your tuition. Sometimes college bookstores have them for sale and students can use their financial assistance to purchase them.

There are also the options to go through a rent-to-own store, retail financing, or computer personal installment loans. Rent-to-own stores are convenient as there is no credit check, you can walk out the same day with your item, and if you decide you do not like that particular brand or there is a problem, you can simply exchange it. However, the buyer usually pays out almost double the cost of the item making this a costly choice. For a personal loan, a college student may not have established credit yet. In this case, you may ask your parents to cosign for the loan.

Computer Loans for Bad Credit

Trying to get a personal installment loan with bad credit can be an overwhelming and discouraging process- I know firsthand. It can be possible but very difficult. Having a bad credit score tells lenders that investing in you is a high risk. Not everyone will approve you and those that do will likely charge really high interest rates and may even require collateral. Before trying to get a personal installment loan, understand that you will definitely have to research and loan shop to find someone to approve you as well as give you the best interest rates.

Final Thoughts

Basically, getting a loan is an extremely personal decision. Only you know your full situation and whether it calls for solutions, like a personal loan. As with any major decision, for your research and consider all options. Do not make the decision without heavy consideration. Look over your current finances to determine if a personal loan will honestly help or just dig you into a deeper hole. It may be prudent for you to talk it over with a friend or family member who can help spot potential problems. If you still feel that taking out a personal loan for a computer seems like the right choice for you, shop around here at Loanry.com. We can help you find a personal installment loan to buy a computer.

What is a Good Credit Score? Your Credit 411.

Maybe you know that you need a good credit score to get a favorable rate when you want to shop personal loans or rent an apartment.

If you are wondering if your credit score is good then you need to read on to learn what that really means.

What is a Good Credit Score?

A credit score expresses your relationship with credit in a three-digit number. There are several bureaus that generate credit scores — perhaps you’ve heard of Equifax, Experian, or TransUnion — using either the FICO or VantageScores sliding scale.

A good credit score generally falls within the 700 to 749 range. The problem of trying to figure out a good credit score isn’t that simple; however, as some creditors see anything above 720 as excellent, rather than good.

It’s in your favor if a lender moves you up to excellent, as you’ll usually get better terms when you loan shop. Yet this does make it difficult to pin down a good credit score numerically.

Adding to the confusion over determining a good credit score is the fact that creditors don’t report to every agency. So if you have a store credit card, the retailer won’t report to the three major credit bureaus, they’ll report to one or two.

Due to the differences in reporting by creditors, your credit score can vary by several points across the three major credit bureaus. This means that if you are on the cusp of a good score with TransUnion, for instance, you might actually have good credit with Equifax because the bureaus aren’t looking at the same data set.

While you may be able to run your own credit report — selecting the place where your score is best — for a landlord credit check, you can’t exactly tell the bank considering you for a mortgage which credit bureau to use for their credit check.

Credit Score Management

Now that you understand good credit, what other options are there?

Credit scores range from 300 to 850. 750 or greater typically means excellent credit. 650 to 699 is a fair credit score, 550 to 649 is a poor credit score, and 300 to 549 means a bad credit score.

Why is a Good Credit Score Important

The higher your credit score, the greater the chance you will pay your loan on time. So a good score means you are a credit-worthy person, in lenders’ eyes.

When your score is good, you may have an easier time finding an apartment to rent, because a landlord sees you as a qualified applicant. Or you may receive a lower interest rate on an auto loan than someone whose score is fair.

Consumers are entitled to one free credit report from each of the major agencies per year. Thinking ahead, if you’re planning to make a major purchase in the next 6 months, it’s a good idea to run a credit report from at least one agency.

This way, you’ll find out if your credit score is good. You may spot mistakes on your credit report, which can be disputed and removed from your report.

Conclusion

If your score is good, keep it that way by paying bills on time. Use under 30 percent of your available credit to maintain a good score. Avoid opening new accounts, as this triggers a temporary dip in your score. When you don’t have a good credit score, work to improve it before you need a loan.

If you can get a good credit score, you’ll be favorably treated when you need money. If you aren’t in the good score range, work to develop money management skills and pay down debt.

Avoiding a Loan for Rent When you Need a Loan for Rent

Rent is the biggest financial obligation that most people have to pay. Unfortunately, housing costs have been rising quickly in most parts of the country in recent years. The slightest setback can put the average person behind on their rent — and as you probably know, not being able to make rent is a sign that you’ve got one foot on the banana peel leading to homelessness. Avoiding a Loan for Rent when you need it is possible.

These tips will help…

Although this is a terrifying situation to be in, it’s important to be proactive about finding a solution as soon as possible. Fortunately, there are strategies, programs, and resources available for those who need help making their monthly rent payment. For the most part, avoiding a loan for rent is recommended, but it’s preferable to facing the nightmare of eviction.

How to Cover Your Rent If You Want to Avoid a Loan

Covering your rent depends on your unique personal situation. The key to avoiding eviction is to start investigating possibilities as soon as you know that you’re going to struggle with making making rent. Following are several ideas for those who need help paying rent.

Legal Aid

Check with the Legal Aid Society in your community to see if they offer landlord/tenant mediation services. Keep in mind, however, that you’ll be liable for court costs if your case goes before a judge.

Can’t Make Rent? Still Room for Options

Ask Friends or Family for Help for Money

Asking family or friends for a loan is a blow to most people’s pride, but it’s likely that you’ll be hitting them up for help anyway if you get evicted. If you decide to do this, set up a formal agreement where both parties agree on the particulars. Friendships and family relationships are often ruined because of financial matters, so tread cautiously.

Apply for Short or Long-Term Assistance

Public assistance benefits vary by state and usually depend on income levels and family size. If your goal is avoiding a loan for rent, checking with public assistance agencies provides a great way to start. Even if you don’t qualify for a particular program, the case worker may be able to recommend another one for which you fit the bill.

Applying for long-term public assistance is an excellent option for those whose inability to pay the rent is caused by a chronic lack of funds rather than a simple temporary setback. Perhaps you live in an area without good employment opportunities or have family obligations that make holding down a job difficult.

It’s possible that you qualify for a Section 8 voucher through the U.S. Department of Housing and Urban Development. State programs designed to help with housing also might be available.

Communicate With Your Landlord for Avoiding a Loan for Rent

In most states, the eviction process is a long, tedious tangle involving substantial red tape. Landlords stand to lose significant amounts of money in unpaid rent if they choose to go this route, so most would rather avoid it. Tenants who talk with landlords about delayed rent payments frequently walk away with good results. At the very least, you’ll at least have tried to explain the situation in an honest manner.

Get Financial Help From Churches

Those avoiding a loan for rent sometimes have good luck turning to local churches for help.  Individual churches, the Salvation Army, and St. Vincent DePaul are good places to start. Community-based secular organizations are other sources of assistance for those in your position. Unlike borrowing money from friends, family, or a loan shop, this money doesn’t have to be repaid.

Save on Your Rent for Avoiding a Loan for Rent

Even though housing costs keep rising, there are still ways you can save on your rent. For instance, those willing to live in a home that’s listed for sale often get a reduced rent. If you’re willing to allow the house to be shown at any time without the usual 24-hour notice, the rent may be further reduced. You need to be ready to move out at fairly short notice, however, as well as keep the house in presentable condition at all times.

Another way of avoiding a loan for rent is to offer house sitting services. These are generally short-term situations, but it’s possible to luck into longer stays. For instance, many people who own vacation homes have house sitters stay in them for months at a time during the off season. If you’re adventurous and enjoy constant change, this could be the perfect gig for you. You’ll have to always be keeping your eye out for your next place to stay, though.

Get a Roommate

Today’s tough rental market means that it’s likely that you aren’t the only one in your are struggling to make rent payments. Getting a roommate takes the total burden off of both parties frequently serves as an ideal solution for those avoiding a loan for rent. Sometimes, it’s possible to find a roommate on short notice, but not always.

Be sure to get a full month’s rent up front as well as half of the deposit you paid before you allow the person to move in. It’s also wise to clear it with your landlord.

If you don’t want a fully fledged roommate, renting out a room may be a better option for avoiding a loan for rent. You won’t be able to charge as much, but you’ll also retain primary control of the lease. This is a great alternative for those who live near universities because students are often seeking short-term lodging.

Save on Utility Bills

Even if none of the above options for avoiding a loan for rent work for you, you can still keep rental costs down by minimizing your utility bills. One of the easiest ways to do this is to adjust your thermostat a few degrees. Heat and cooling are the biggest part of any energy bill. As your light bulbs burn out, replace them with LED bulbs.

These cost more initially than their incandescent counterparts, but they take years to burn out as well as use less energy. Washing clothing in cold water is another frugal option for those looking to cut costs.

If Nothing Else Works – Borrow From Your Bank

You should always try to avoid taking out a loan for rent, but unfortunately, that will not always be possible. And if it comes to it, don’t be afraid of borrowing money from a bank. Personal installment loans from a bank or credit union is another option for those struggling with coming up with their rent payment. However, banks may not be too interested in loaning money to someone who’s struggling with meeting basic obligations. It helps to have a decent credit score in order to get an unsecured loan, but short term loan lenders may work with you if you’ve got good collateral.

Conclusion

Look for assistance as soon as you realize you’ll probably need it so that you’ll have ample time to explore options. Making this kind of decision at the last minute leaves you way more vulnerable to taking reckless chances. Please feel free to visit our rent loans page if you absolutely need money to pay for rent. We can help you find a lender who may be able to help, but we’d rather see you avoiding a loan for rent and managing your personal finances better to help reduce debt.

A Door Opens: How to get an Emergency Loan to Pay Rent?

If you’re struggling with finances for whatever reason, paying your rent on a timely basis can be a huge burden. Whether you lost your job or are facing significant and unexpected expenses for a car repair, you may find yourself without enough money to make your rent payment for the month. If you’re in a tight spot, you can get an emergency loan to pay rent. Here is some information about how to get an emergency loan to pay rent when you are in a bind.

What is a Rent Loan?

Individuals who need an emergency loan to pay rent typically are unable to wait another month to make a payment. They need the money quickly to avoid losing their apartment or house. While there are several local non-profit and state government organizations that offer rent assistance and grants, it can take days or even weeks to receive cash or check from these programs. Due to how long it can take to get money in hand, these rent assistance programs and grants are not a feasible option for many people struggling to pay their rent on time. Emergency loan to pay rent may be the fastest and most convenient option if you need money quickly for rent.

What Is a Personal Loan?

A personal loan is a flexible loan that can be used for a number of purposes, including wedding expenses, debt consolidation, auto repairs, and home repairs. Personal installment loans are offered by online lenders, banks, and credit unions. Since certain financial institutions don’t restrict how you can spend the funds, it is possible to get a personal loan to pay rent. Personal loans are unsecured or secured. If you have good credit, you can get an unsecured loan that doesn’t require collateral. However, if you don’t have a strong credit history, you may have to get a secured personal loan, which does demand collateral.

Before you get approval for a personal loan, you will need to authorize a credit check and fill out an application. The lender may also confirm your income and employment. Different lenders have different guidelines for approval, so it’s possible to qualify for a personal loan even if you don’t have perfect credit. If you have no credit or bad credit, you should apply for a personal loan through a credit union, loan shop, or online lender, as these institutions tend to have more flexible lending guidelines.

Should You Take Out a Personal Loan to Pay Your Rent?

Some of the reasons you should take out a personal emergency loan to pay rent include the following:

  • Convenient and fast – If you need funds fast to pay your rent, getting a personal loan is one of the fastest and most convenient options. As a result, many people prefer getting an emergency personal loan to make their rent payment over other options, such as rent assistance programs.
  • Build your credit history – Getting a personal loan to pay your rent can help you establish your credit history. If you already have a credit history, a personal loan can boost your credit score. However, you need to make your loan payments on a timely basis to improve your credit. A good credit score will make it easier for you to get a mortgage loan if you decide to buy a new home in the future.
  • Wide borrowing ranges – Personal loans can amount to as little as $1,000 or as much as $50,000. The maximum amount you can receive is typically based on your credit score and your income. Even if you can borrow a large amount of money, you should only borrow the amount you need to make your rent payment. You can use the funds from a personal loan to cover rent for an long period of time, such as six months to a year.

Need Money For Rent ASAP: Try Rent Loans

How Long Can You Go Without Paying Rent?

A common question that many people have is how long they can go without paying rent before they are evicted.

Every state has slightly different eviction laws. In general, rent is due on the 1st of the month and late on the 2nd of the month. Landlords call tenants three times a day from the 5th through the 10th. On the 10th, the landlord will put up a 3-day notice, which is a form given to a tenant who has failed to pay their rent on time. After three days, the landlord can file for eviction. Once your landlord files for eviction, they will no longer accept rent payments. At this point, the tenant will not be able to escape the legal ramifications of not paying their rent.

If the landlord wins the court eviction, they will be able to regain possession of the property by sending bailiffs to your home. Everything owned by the tenant will be removed from the home by the moving crew. All your possessions will remain on the curb until 5pm, which is when a dump truck will move your possessions to storage for 30 days.

How Can I Get Help Paying My Rent?

You can find help paying your rent from charity programs and non-profit organizations. Some of these agencies may offer financial aid for rent on an ongoing basis. You can also apply for one-time rental assistance or for a referral for long-term housing support. The type of assistance you receive will depend on your situation and the amount of funds available.

Many local governments and agencies administer public assistance programs for rent, storage fees, security deposits, and other housing expenses. Some examples of such agencies include RAFT in Massachusetts, EFAHP in Florida, THHSC in Texas, and RAP in Connecticut.

When it comes to cash loans bad credit can make it difficult to qualify. If you’re struggling to qualify for a cash loan due to bad credit history, seeking help from charity programs, government agencies, and non-profit organizations may be your best option.

We always recommend looking at ways to save on your rent before considering a loan. A loan should be the last option.

How Do I Qualify for Rental Assistance?

The requirements that an applicant must meet to qualify for rental assistance depends on the program. In general, to qualify for rental assistance from government agencies, you must meet at least some of the following requirements:

  • Meet the low-income limits in your state or region
  • Have an eligible immigration status or be a U.S. citizen
  • Pass a background check and/or credit check
  • Provide references
  • Set up an appointment with an agent

How to Get Emergency Loans to Pay Rent?

If you need help paying rent, you can get an emergency loan to pay rent by filling out an application. The process of obtaining an emergency loan for rent involves three steps:

  1. Application
  2. Approval
  3. Decision

Online lenders often provide emergency loans for rent to individuals who have a bad credit history. Therefore, if you have a bad credit score and poor credit history, you can still be eligible for a loan for rent. All you need to do is fill out a short form online to find a lender here, which should take you a few minutes. Be sure to take a look at the interest rates before you fill out an application for an emergency loan to pay rent as well as the average amount of time from application to the decision. Once you’ve been approved for a loan, you will receive a loan offer. Before you accept the loan offer, you should pay close attention to the terms and conditions. If you accept the loan, the lender will deposit the money into your bank account.

Conclusion

Getting an emergency loan to pay rent is one of the best and most convenient steps that you can take if you find yourself in a bind and cannot afford to pay your rent. For more information about how to get quick cash loans for rent payments and other housing costs, don’t hesitate to contact us.

Junou M minored in Finance for her Bachelor’s Degree from the University of Central Florida. She has completed over 250 orders about finance for both private clients and marketing companies. Therefore, she has the experience and knowledge necessary to complete articles on the topic of finance. In her 10+ years of experience as a freelance writer, she has completed thousands of articles and is frequently published on Loanry® (www.loanry.com) and Cashry® (www.cashry.com).

How can I get a Personal Loan up to $10k?

How can i get a Personal Loan up to 10k

Money problems are the leading cause of stress in America and more than 85% of adults report they are worried about money, according to a recent poll by Varo. More than 30% said they felt stressed about their finances constantly.

Most people are going to need emergency financing of some kind during their lifetime. People borrow money for school, large purchases or to help cover expenses until their next payday.

If you are struggling with a financial burden, immediate needs you can’t afford or enountered an unexpected emergency, then you know how frustrating it can be. You want to borrow money, but you don’t want to end up in a rut.

Whether you have an excellent credit score or a poor credit score, there are loan options for you. We want to make the process transparent and as stress-free as possible. Check out your options and consider what loan will help you with the financing you need.

What Kind of Short Term $10k Loan Can I Get?

When you are in need of fast cash, there are lending options available. If you need a personal loan for $2,000 or even $10,000, you’ve come to the right place!

Whether an emergency has you in a bind or you need money to help make ends meet for a short time, a personal loan can help bridge the gap between your need and your pay. There are many loan options, but let’s look at the three most common loans for everyday personal needs.

Personal Loan

A short term personal loan is usually unsecured (not backed by collateral). And it comes with a fixed repayment schedule. The loan has a fixed interest rate that is likely going to be lower than a credit card or payday loan rate.

They can be both secured or unsecured, depending on what you can put up for collateral and how much you need to borrow. Personal installment loans can be ideal for paying off debt and consolidating the payments into one place with a fixed amount and fixed interest rate.

However, it can be difficult to get a good personal loan if your credit score is low. If you use Loanry to shop for a personal loan lender, you will be able to find a lender in one place without multiple hits to your credit score.You can shop the Loanry store to find a lender that can provide their rates and payback options for the loan amount you need. Always look for lenders that are clear in their requirements and do not require an upfront fee. The internet is full of scam artists and predatory lenders, so make sure you are using a tool you can trust.

Payday Loan

If you just need a loan that will take you to the next payday, then a payday loan may be perfect for you. The payday loan is a much shorter term loan than a personal loan or a credit card—typically due on the next payday.

A loan based on your paycheck will not usually be a large amount and won’t cover major expenses.

Fees for payday loans typically range from $10-$30 per $100 borrowed, which is a lot so pay it off before the next payday and don’t fall into the trap.

A payday loan is usually given with access to your checking account or a post-dated check that covers the amount you are borrowing. These loans are usually options for people who have steady low-income jobs with poor credit scores. If you don’t pay back the money on time, your lender will apply high fees and penalties.

Credit Card

Credit cards are one of the most expensive ways to borrow money, but they are also the most common. Many people have cards that only require a monthly payment of 1%-3% of what was borrowed, but high interest rates are applied to any amount that isn’t paid for the month. The smartest way to use credit card lending is to only purchase what you will have money for by the end of the month.

Restrict spending on the credit card to less than what you will have in the bank by the end of the month and then pay off your statement every month. The credit card companies plan on their users getting into revolving debt. So the high interest rates kick in after you haven’t paid the balance for the month.

If you are able to pay off your card each month and use it more like a debit card, the credit card is the best way to borrow money. You won’t be able to pay off some forms of debt with a credit card, like your house or car, but most bills can be paid through your card.

You should be aware of how to compare credit cards based your credit type and things you want to get out of your card such as loyalty rewards.

Find a Lender for Your Loan

There are many options with many varying details. This can make searching for a personal loan, credit card or payday loan overwhelming. With a tool like Loanry, you can find a lender and decide what works best for you. You can check out lenders who offer emergency cash loans or loan shop to help you find the funds you need. Save time by seeing a lender in one place and not having to search lender by lender to find the deals right for you.

Can I Get a Personal Loan if My Credit Score is Below 550?

Poor or bad credit can make it hard to qualify for a loan—especially given personal loan rates depend on your credit score. If you have a credit score of less than 550, you are considered a risk to your lender and may struggle to get a loan. When it comes to lending money, a FICO credit score of 580 or less is poor credit.

Over 60% of accounts that have poor credit scores become delinquent accounts, so many lenders won’t even consider applicants with scores under 600.

When you search for a personal loan with a low credit score on Loanry, you will still may find a lender. However, a Lender will likely charge higher fees and fewer options when your credit history is low. Ideally, you want to work on raising your credit score before you apply for a personal loan.

Finding a lender on Loanry doesn’t mean you are under any obligation to take the loan. If you don’t like your rates, work on boosting your credit score to at least a fair rating with a score over 580.

Guide To Personal Loans

Beware of Predatory Lending

You cannot trust all lenders, especially many online lenders. There are a lot of offers out there for people who have poor credit scores and are looking for personal loans. If you have been searching for a loan to cover personal expenses, you may have noticed some of the scams that are offering advance fee loans.

According to the Federal Trade Commission, you should be wary if a lender demands an upfront fee, pressures you to wire money or doesn’t clearly display what fees apply.

At Loanry, we want people to shop personal loans to find fair offers and get the financing they need at a rate they can afford. Get personal loan online options and complete a short form to find a lender here today!

6 First-Time Home Buyer Mistakes you Should Avoid

Buying a home for the first time is a big deal.

To help you get ahead, we’ve outlined some first-time homebuyer tips by calling out six of the biggest mistakes that you should avoid going into the purchase of your first home that could end up saving you a lot of time, money, and frustration.

Mistake #1: Not Getting Pre-approved

Many first-time buyers make the mistake of thinking that they don’t need to loan shop for a mortgage until they’ve found their dream home.

Unfortunately, that often ends up being too late.

These days, most sellers require that pre-approvals be submitted along with any offer. Since your finances need to be vetted before the lender will agree to grant you a loan, this process can take days or even weeks.

Instead, we recommend applying for a pre-approval before you even start looking at available properties.

Doing so will give you extra time to work on your finances if needed. And will ensure that you’re ready to submit an offer ASAP once you’ve found your perfect match.

Explore your mortgage loan options with help from your bank, credit union, and online lenders until you find the terms that work best for your financial situation. Loanry can help you connect with the best online lender for your situation. 

By providing us with the required information, you are giving us enough material to work with and find you a lender who may be willing to give you a loan.

Mistake #2: Borrowing the Maximum Amount

Once you have your pre-approval in hand, it’s time to decide how much you can afford to spend.

The first time home-buying can be difficult unless you know what to avoid. Loanry.com has done the research to help you avoid these common mistakes.

Many buyers mistakenly believe that the figure they’re given on their pre-approval letter should serve as their target sale price. However, make sure that this move won’t leave you feeling “house poor.”

Instead, it’s better to think of loan amounts as a range. You have the ability to borrow up to the amount on your pre-approval. But you don’t necessarily have to go that far.

The better move is to do some budgeting of your own.

First, look at your income and expenses to determine how much money you’d feel comfortable putting towards a mortgage payment each month. Then, using that number, play around with a mortgage calculator until you land on a price of how much house you can really afford.

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Mistake #3: Overestimating Your Abilities

Sometimes buyers are willing to take on any number of repairs and remodeling projects in exchange for a low sale price.

Unfortunately, though, what ends up happening in many of these scenarios is that they end up finding that these properties were steals for a reason.

Often, the repairs require more money, time, and skills than the buyers can afford. If you’re looking at fixer upper properties that require a lot of TLC — especially foreclosures, short sales, or auctions — you need to be honest with yourself about your abilities.

Do you have any previous remodeling experience? Are you considering moving loans to cover your relocation cost? Can you afford to hire professional help? Are you prepared to cope with unforeseen problems and expenses?

Though some of these things may be hard to admit, doing so can end up saving you a lot of frustration in the long run.

Mistake #4: Skipping the Fine Print

Yes, you should always read every contract you sign in full.

But, as anyone who’s ever sped through a “Terms & Conditions” agreement can tell you, that’s easier said than done.

While it might be tempting to simply skim your Agreement of Sale (and any addendums), resist the urge. This mistake could end up costing you.

Successful real estate transactions depend on each party fulfilling their respective contingencies by the deadlines specified in the agreement.

By signing, you’ve agreed to fulfill your end of the bargain. If you fail to meet those obligations, the seller may be entitled to take your deposit monies in reparations.

When you’re negotiating your offer, make sure you know exactly what you’re agreeing to before you sign on the dotted line.

Mortgage Loan Basics Spelled Out: Lending 101

Mistake #5: Bypassing Your Inspections

Conventional wisdom states that skipping your inspections will put you in a better bargaining position. While this is true, the reality is inspections are for the buyer’s benefit.

They give you a realistic picture of what’s wrong with the property. So that you can either choose to buy it with eyes-wide-open and negotiate on repairs or walk away and find a more suitable option.

In contrast, when you choose to waive your inspections, you’ve agreed to take financial responsibility for any repairs that may come up, even if the problems pre-date your ownership of the property. Weigh your options carefully before deciding whether or not this risk is worth it to you. In some cases, just shortening your inspection contingency might be enough to make your offer more competitive.

Mistake #6: Forgetting About Closing Costs

Budgeting to buy a home based on your personal net worth isn’t just about figuring out how you’ll swing a downpayment and monthly mortgage amount.

There are also closing costs to consider.

Your closing costs will be paid at settlement. They will include any fees needed to facilitate the transaction such as deed-recording fees, title insurance, and appraisal costs.

The exact amount you’ll pay will depend on the specific services needed to close on your property. Realistically, however, you can expect to pay between 2%-5% of the home’s purchase price. And that needs to be factored into your overall cost of buying a place.

This article originally appeared on OpenListings.

‘Tis the Season to do Christmas on a Budget

Christmas on a Budget Ideas

Does it seem like Christmas comes earlier and gets more expensive every year? With a little creativity and commitment to financial planning, Christmas does not need to break your budget this year.

For example, forget the idea that you need to buy for everyone you know. Your hairstylist, children’s teachers, and mail carrier probably already get a lot of cheap holiday gifts that they cannot even use.

If you feel like you really must get small Xmas gifts for this extended circle of acquaintances, wait for the after Christmas clearance sales and pick up a small but thoughtful token gift that lets them know you appreciate them.

When you need help paying rent, it just makes no sense to go into debt to purchase little Christmas gifts for everyone you know. Rather than buy trinkets that might be forgotten about by the new year, consider creating an experience with a loved one instead.

For example, spend a whole weekend day making cookies with your niece or give each of your children a day of their own with mom or dad.

You can allow them to set the schedule of activities as long as it is within reason and does not blow your budget. When it comes to cool inexpensive gifts, you really cannot go wrong with the gift of time.

What is the Average Budget for Christmas?

According to the American Research Group, the typical household plans to spend $992 on Christmas gifts in 2018. That is up just $9 from last year. However, this number jumps to $1,383 for those who plan to complete most of their holiday shopping online.

It might seem strange that the question of how much do you spend on Christmas presents varies so much depending on whether the shopper plans to buy online or in person.

Perhaps there is just something about adding to an electronic cart that makes spending so much easier.

If you find that you really have no Christmas money, then you may want to consider personal loan shopping for the holiday season only.

If you find a reputable lender that adheres to the high standards of the Online Lenders Alliance, you may be able to get a loan based on that lenders terms.

You may also wish to consider creating a budget to pay for household Christmas presents. Financial guru Dave Ramsey recommends creating something called the zero-based budget. Here are the basic steps you need to follow to create one:

·       Add up all sources of monthly income

·       Write down all typical monthly expenses

·       Be sure to include non-gift Christmas expenses such as wrapping paper, a Christmas tree, and ornaments

·       Subtract your income from your expenses to determine the amount of money you have available for your Christmas spend

Sticking to this formula can help you avoid debt this Christmas that will follow you into the new year.

If you find that you do need to visit a loan shop for extra funds this holiday season, set a goal for paying off the loan so you do not spend any more money than necessary paying back interest fees.

You can also decide early in the year how much to give for Christmas gifts and follow a budget for Christmas in 2019.

How Much Do You Spend on Each Kid for Christmas?

christmas on a budget

A 2015 article in Money Nation indicates that parents spend an average of $271 per child for Christmas presents. However, it often varies significantly depending on the age of the child.

For example, Christmas presents for a 2-year-old are going to look different than gifts for a teenager.

A baby or toddler will have no idea how much you spent on the gift and is likely to love any toy.

Older kids and teenagers may be more challenging to buy for, but that doesn’t mean you need to break the bank to make them happy.

The four-gift rule has become popular over the past several years with parents who want to make Christmas memorable for their children without indulging them.

When shopping for Christmas gifts on a budget, consider limiting it to these four things for each child:

  • One thing they want
  • One thing they need
  • One thing for them to wear
  • One thing for them to read

Besides helping to save you money, this plan makes children more appreciative of receiving just one thing that they really wanted for Christmas this year.

What Are Inexpensive Christmas Gifts?

Christmas Budget Ideas

The most inexpensive gift ideas usually involve creating a homemade gift. If you are a crafty person and you have the time to do this, it is something your gift recipient should truly appreciate.

You can still find small gift ideas when you want to remember someone at the holidays but don’t have a lot of money to spend, consider some of these gifts for the kids on your list:

  • Puzzles
  • Framing of a child’s drawing
  • Board games

Those in the pre-teen and teen years might enjoy one of these small Christmas gifts:

  • Make-up tote that includes a portable mirror
  • Gift certificate to the local movie theater
  • Books

For the adults on your Christmas list, consider one of these Christmas gifts on a budget:

  • Glass jar filled with hard candy
  • A bag of gourmet coffee with a personalized coffee mug
  • A small photo album filled with your favorite memories of the person

Best Ways to Decorate for Christmas on a Budget

Decorating the house for Christmas is one of the most exciting parts of the holiday for many families. Unfortunately, it gets almost as expensive as buying gifts if you’re not careful.

Decide at the beginning of the season on a budget for Christmas decorations and stick with it. As with gifts, the least expensive and most meaningful holiday decorations are often homemade.

If you have young children, they will probably make ornaments and gifts for you in school. Some other ideas for inexpensive Christmas house decorations include:

  • Shop after-Christmas clearance sales when it comes time to replace ornaments and household decorations
  • Use non-seasonal décor to match what you have available to use for Christmas decorating
  • Get creative by turning glasses, bowls, and vases into holiday decorations by adding some red and green festive bows
  • If you choose to put up strings of holiday lights, turn them off at night to save on electricity

Christmas-Decorations-diy-guide

Conclusion

Christmas might have more fun when you were a kid and never had to think about what anything cost. It can still be just as exciting and festive as an adult when you know how to budget and shop smart.

If interested in other holiday budget tips see our spooky savings tips How to Save Money for Halloween. For a bellyful of tips you should check How to Save Money for Thanksgiving

is a contributor and writing professionally creating palatable, actionable content in the realm of finance. Lisa is an experienced online copywriter with seven years of full-time experience.

She has successfully completed thousands of articles in that time in dozens of different categories.  In addition to a bachelor degree in journalism and mass communication, Lisa completed a SEO Certification Course taught by Heather Lloyd-Martin of Success Works. She earned her certification in 2015.

Think you’re ready to buy a house? Here’s 4 signs.

Ready to Buy A Home

“Am I ready to buy a house, or should I just keep renting?”

It’s one of the questions that we hear most often and something to which first-time homebuyers often spend months, if not years, trying to figure out the answer.

Below is a list of four tell-tale signs that you’re ready to bite the bullet and take the leap into homeownership:

Sign #1: You’re Ready to Settle Down

The first sign that you’re in the right mindset to become a homeowner is that you’re ready to stay put — at least for a little while.

Getting Ready for Home Buying

Conventional wisdom states that in order for your purchase to make financial sense, you’ll want to plan on staying put for at least the next five years. When you sit down to think about house hunting, you’ll want to use that timeframe as your reference point.

Ask yourself the following questions:

  • Can you see yourself staying at your job for that long, or will you be looking for new opportunities?
  • If the right position came along, would you be willing to move for it?
  • Do you like the area you’re living in, or would you like to explore other options?
  • Do you see your living situation changing soon?
  • Are you planning on moving in with a significant other or expanding your family?

If these questions make you squirmy, the idea of looking five years into the future still feels a little too far ahead for you to grasp, or you still want to see where life takes you, you may want to consider renting for a bit longer or thinking about a for-a-few-years home vs. a forever home.

2. You’re Done Living Paycheck-to-paycheck

Let’s face it, becoming a homeowner is expensive.

Living Paycheck to Paycheck

Not only is there a monthly mortgage payment to consider, which will likely be more than your current rent check, but prospective homebuyers need to be prepared to come up with a sizable down payment, shoulder a portion of the closing costs, and have the dough to take care of any necessary repairs.

Luckily, there is a way that you can prepare for the added financial pressure before the big day comes and understand how much house you can afford. Use a mortgage calculator to estimate what monthly payment could be based on the type of home you’re looking to buy. Then, subtract the amount you pay in rent each month, and aim to put the remainder into savings.

Start by working towards a down payment that could be worth 3%-10% of a home’s sale price, and then move onto a separate emergency fund.

3. You’re Ready For More Responsibility

Once you find a home and actually buy it, that’s really where all the fun begins.

Yes, owning a home means that you have a lot more freedom to improve the property as you see fit — whether that means putting in an entirely new kitchen or redoing the hardwood floors.

However, in addition to that creative freedom comes an added layer of responsibility. As the homeowner, you’re the one who is responsible for any necessary maintenance and upkeep on the property.

Think about what you’re like as a tenant now.

Are you willing to roll up your sleeves and help with small tasks or are you relieved to know that you have someone to call? If you’re less handy, you may want to take some time to familiarize yourself with common home maintenance tasks before committing to buying anything. It always helps to have a fair idea of what you’re getting into.

4. You Know What You’re Looking For

Last but not least, though it may sound self-explanatory, when you’re trying to determine whether or not you’re ready to buy a home, it’s useful to have an idea of what you’re looking for.

You don’t have to have every single detail set in stone. (In fact, it’s preferable if you leave some room to flexibility in your home search.) That said, though, having a basic set of parameters in mind will make the home buying process go much easier.

How Money Grows: The Top 20 Personal Finance Sites for 2020

Here, you’ll want to think about the most important factors that you absolutely must have in a home. These will be the things that you would not feel comfortable buying a home without. This may include details like your preferred location, an ideal number of bedrooms and bathrooms, a target sale price, or any specific must-have features like that perfect picture window view.

Conclusion

If you have a strong idea of your must-haves and can’t see that changing in the near future, and the above signs sound like you, you may just be ready to take the plunge into homeownership. If not, there’s no shame in the game waiting. Here you can look for mortgage suggestions. Put in your information below and find out whether any of them are willing to make you an offer:


This article originally appeared on OpenListings.

Money Tips from Queen Lyrics that Will Rock You

Queen Songs About Money

As one of the greatest bands to ever hit the rock n roll stage, Queen created insightful songs about the most important topics in life. Queen never really had to worry about Money, but they definitely had some great things to say about it in some of their biggest hit songs.

The Best Songs about Money

Queen is not the only band you can gain insight about money from by looking deeper at the meaning of some of their songs. We’ve covered many famous rock and rap bands who have songs about money where you can gain financial insight:

Here are our top picks and money tips from Queen lyrics…

What does it mean when someone says “Another One Bites the Dust”

Lyric: You took me for everything that I had/And kicked me out on my own

The premise: The repeated refrain of this anthem can apply to virtually any situation, but it seems to infer that someone is being kicked out of a relationship because (s)he is useless to the former partner.

This song, though catchy and upbeat, speaks to a relatively common situation. People use other people and then forget about them. Do you want to be in this situation? If not, then stabilize your Personal Finance situation and learn how to use Loans to your advantage.

Bohemian Rhapsody Box Office

Queen “I Want it All” Lyrics

Lyric: I gotta get me a game plan

The premise: The individual in this song is your young bad boy, dreaming to the stars about how he is going to take life by the horns.

Here’s to hoping someone tells that young man that he will need plenty of money to accomplish his dreams! The “dreams of youth” referred to in this song all cost, and the price is going up every day. Wanting it all is a goal that needs guidance, just like a financial plan that consists of “make a lot money.” Queen is subtly telling us that we must eventually see our goals mature through careful planning.

“Money Can’t Buy Happiness” Song

Lyric: Keep a little more money/Can’t buy happiness

The premise: Freddie Mercury takes the simple message of money being unable to quell serious problems and turns it into a catchy tune.

Although Queen is telling us that money cannot buy happiness, they are not telling us not to get money. No, money cannot buy happiness, but Queen still got paid for every gig where they played that song! What the band was really trying to say is that you should not look to money to create purpose in your life. What your personal net worth does, however, is give you agency to look for what does make you happy!

“Under Pressure” Lyrics

Lyric: Pressure pushing down on me

The premise: The pressure on everyone’s life can make them crumble. The song was originally called “People on Streets” because the band saw nothing but depression on the streets when they were going to get a pizza.

Pressure is always pushing down on human life. Money is the way to push back up. A stable financial grounding, a good budget and a great Credit Score is the foundation. After that, you can begin pushing back up on the pressure and create room for yourself. You do not have to be one of the depressed people on the streets!

Popular Songs About Money

Rush Songs About Money

There are many popular songs about money. Some of those songs talk about the hard times where one may not even have enough to cover medical finance needs and end up needing a loan for medical bills. Other popular songs about money talk about jet-setting the globe making you ‘feel just like a Rockstar (star)’. I wouldn’t take financial advice from many of these bands, but there are a few money tips from some bands that make good cents and we like to write about their songs about money. Some of these songs can lead to sound advice when considering using fast cash loans or even using loans for wedding expenses. We always advise to look at the risk of financing anything. Using emergency cash loans may help solve a short- term needs, but more often than not leads to financial stress down the line. You not only have to pay off personal installment loans, but short term loans lenders have various interest they charge.

Personal Loan Shopping

Money Tips from Rush Lyrics for the Working Man

Rush Songs About Money

Many people would argue that Canadian rock hit its peak when the most popular lineup of Rush came together to play music as tight as few bands in history have done- Geddy Lee, Neal Peart and Alex Lifeson. Some have said this is the hardest working rock band ever! I would agree. A living example of the Working Man. Just take a second to think about the difficulty of playing the song 2112, which goes on for 20 minutes and 33 seconds. A good look at the bands dedication is on clear display in the recent-epic documentary called ‘Time Stand Still’. The band touched on many topics during its decades long history, and Money was an essential component in the repertoire. Let’s take a look at some of the most insightful money tips from Rush lyrics.

1. Free Will Rush Lyrics

Lyric: The cards were stacked against them/They weren’t born in Lotus-Land

The premise: Free will, in Rush’s opinion, is all about dealing with reality in the best way possible.

Choice is the spice of life. Those with more choice experience more of life’s good side. Those who have less choice are left, as Rush says, to slowly realize that reality will never coincide with the dreams from Hollywood and most popular music. Fortunately, we all have the free will today to choose Wealth and financial surety. These things come from financial literacy and investing in the proper channels. Rush tells us indirectly that our free will is tied to our Net Worth and ability to get better rates when we loan shop, so we should take it seriously.

2. The Big Money Lyrics

Lyric: Big money goes around the world

The premise: The song “Big Money” is about how money rules the world, but there is real advice to take from the story presented here.

If you want your money to multiply, then it needs to go around the world in the form of investments. When you invest, you are empowering qualified recipients of funds to build a business. A diversified portfolio means that your money is reaching into many companies around the world. Even if you do not have big money and maybe even need help paying rent, you can certainly make yours bigger with this strategy.
Pink Floyd Songs About Money

3. Working Man Lyrics

Lyric: I could live my life/A lot better than I think I am

The premise: The working man in this song is bemoaning his fate on the hamster wheel of life, but he sees no way out.

Personal Loan Shopping

The purpose of most jobs is to be a J.O.B. – a budget that is meant to keep you “just over broke.” In order to grow your money, you must eventually come out of the world of the J.O.B. At best, a job should be the initial fuel that you use to fund your net worth growth efforts and a better credit score. This is how you get ahead and no longer have to live on cash advance loans online going from paycheck to paycheck just like the working man.

There is nothing wrong with work ethic. It’s just when you lose site of the purpose. In other words, the working man shouldn’t get so busy chasing a dream or the 9 to 5 schedule that they forget to live.
Rush Working Man Lyrics

4. Something for Nothing Lyrics

Lyric: You don’t get freedom for free

The premise: This song details the quid pro quo standard of the world that seems to permeate through generations.

If you want to do things or get things done in this world, you must have stable personal finances and money to spend. In this song, Rush tells us indirectly that money does more than buy consumer goods. It actually helps you express your human autonomy. For this reason, financial stability must become a priority in your life.

If you like this approach to getting money tips from famous rock and rap lyrics, you may enjoy some of these other articles:

It’s also fun learning about money through movies that rocked the box offices recently like ‘A Star is Born’ and ‘Bohemian Rhapsody’ The company educates consumers to get beyond boring finances, by wrapping entertainment and music around money topics. Loanry.com helps consumers do just about anything finance online. You can do things like get personal installment loans online or use the medical finance tools to pay for unforeseen emergencies.

I don’t listen to Rush everyday, but when I do I make sure to play it loud so the entire neighborhood can hear!

Rush Money
Photo by – RANDY JOHNSON