Finance Momma

Payday loans have been around for decades. Useful for people with bad credit, they offers fast access to cash with few requirements. Lenders have expanded their offerings in recent years, and people can now borrow money against their car title. While these secured loans are attractive because they offer higher dollar amounts, they also carry a greater risk.

Strict Terms

Car title loans feature strict terms. Instead of a traditional loan through the bank where you will have a few months or years to pay off the loan, loans usually have to be repaid within a month. While there may be a few small payments in the first few weeks of the loan, the primary balance is paid at the end in a balloon style payment. If you are struggling for cash today, ask yourself how you will have the funds on hand when the loan comes due.

Fast Repossession

Title lenders aren’t going to play games with repossessing the car if you don’t pay off the loan. They will probably fit the vehicle with a GPS to make it easier to find. They may also retain a copy of the car key to make it easier to take possession of the car later.

The Snowball Effect

Given how likely it is that you may lose the car at the end of your loan term, you have to ask yourself what happens next. How will you get to work with no car? They only loan you 50 percent of the car’s value or less, so how will you have funds to find a comparable replacement car? Without the car and transportation to work, how long will it be before you lose your job? The simple fact is that taking out a title loan can quickly leave you in a position where things have gone from bad to terrifying.

If you are pressed for cash and need a loan in record time, then a traditional payday loan is a better option. While the terms are still expensive and lenders are strict about repayments, you won’t have to worry about losing your car if the loan is not repaid. Don’t take chances with your car and don’t set yourself up for a precarious situation financially. Try to find another way to get the funds by selling items you don’t use or borrowing from friends. If you still need to borrow the money, then a regular payday loan is a much safer option.

As more people enter their golden years, retirement portfolios become more and more scrutinized. While the next few years seem to be relatively stable in economic terms, there’s always a chance that fund markets might waver, especially in the wake of last decade’s financial crisis. It’s therefore important to weed out weak investment options for those that are tried and true.

The most basic rule for fund portfolios is the four percent rule. This basically means that retirees should only withdraw up to four percent of their fund during their first year outside of their employment. This will help them assess their monthly expenses now that they don’t have a fixed income unlike before.

The rule of 20 encourages investors to save up their funds to 20 times what they are most likely going to spend. This means that for every dollar they project to spend in the future, they will need to save 20 dollars right now. The 10 percent rule is more straightforward; it tells the employee to set aside ten percent of his gross income as savings. This is a quick way of saving up for the future without any overly technical computations.

There are plenty of other tips and tricks when it comes to saving up for retirement, but the most important by far is to make sure that there is actually a portion of the monthly income that goes into savings. Whether it’s one dollar or 100 dollars, the habit of saving money for the long haul will be a valuable one well into the future.

Almost everyone knows that banks and investment houses make most of their profits from investing their clients’ money in larger financial instruments. The fees and penalties derived from entertaining smaller clients might comprise 20 or 30 percent of their income, but even if they take that away, most banks can still survive with just the reinvestment of their clients’ cash. It is therefore important to ensure that all large investments are safe and sound.

Less risky investments might yield smaller returns, but when your company has millions of dollars to invest, this might be the best route. Remember that this is your clients’ money that you’re handling, so only go for the higher yields if you’re sure of the risk involved.

Don’t forget the time factor involved in all investments. Some clients are happy to let go of their money for a year or two while others would rather withdraw their cache every month. Be sure that you have enough liquidity to entertain large withdrawals everyday.

In every investment, never lose sight of your objectives. Some options might give you up to 25 percent returns in a year, but if your target sits at 12 percent, it might not be worth going through the riskier route. Then again, some options for lending offer potential returns of up to 23% in only two weeks. Then again, payday loan companies offer those sorts of rates because of the incredibly high risk. Always keep in mind that your clients’ investments are your investments as well.

Being a smart shopper is more than just saving tons of money every month on grocery bills, being a smart shopper should come with rewards. If you are someone that loves to shop, and you’re not getting anything back on your shopping splurges, here are some tips you should use to get the most out of your money. Gas is at an all- time high, and it can get even higher in the coming months. Did you know that by buying a few groceries from the store each week can save you tons of money a month on gas. Gas reward cards are super popular in grocery stores, and it’s a great way to save on food and gas. Planning your purchases beforehand is also a smart way to shop. By planning, you’re avoiding splurges on items you can’t afford, and your trip to the store will be much quicker. Bulk buying is also a great way to save tons of money a month. To get great deals on bulk purchases, joining a warehouse membership club is essential. You can buy meats and treats at dramatically lower prices than a regular grocery store, but get them at cheaper prices. Being a smart shopper is a lifestyle, so make being smart a part of your shopping trips.

When it comes to finances, sometimes being generous can fatten your wallet. Let’s face it, some of us can be quite stingy when it comes to our money, and the thought of giving it away can really put a damper on our mood. Although, it may seem scary at first being generous can actually benefit you. One of the best things about giving is how good you will feel about yourself. Start small, and give some change to a homeless person, you will be overwhelmed with warm feelings knowing you did something noble. Another way to feel good about giving is to give to charities. Not just any charity, but one that is personally a reflection of you. You will see that giving the money away is not a waste, and you’re actually contributing to a good cause (I recommend the Canadian Federation of Sexual Health). The spiritual aspects of giving is something that cannot be ignored, once you give to someone, your sending good karma your way, and ultimately something amazing could come your way, as a result of your charity. The next thing you have to ask yourself is how much money can I give? No one is asking you to go bankrupt with your charity contributions; you have to balance your expenses as well as your charitable donation in the same token.

Cats are no exception to the general fact that pets can be pretty costly. Besides the initial money that is required to buy a cat, you have the recurring cost of food and litter. Another item on which you have to spend money regularly is the cat toys which can get completely off the wall. The amusing news here is that cats get tired of their toys very quickly. As a loving owner of your pet cats, you then need to buy some new toys to keep them happy. Given here are some cat toys which cost less than ten dollars. You can also exchange your cat toys with the toys of another cat owner and thus offer variety of toys to your cat to play with.

A toy which most cats love to play with is a string. The next is a card board box made up from some strong cardboard pieces. Instead of making a box, you may also shred the cardboard, bind it together in a circle and give it to your cat for playing. If you want to buy something, then go for laser pointers, bouncing balls or simple paper bags to get your cats all excited. Put your cats’ favourite food inside the small, plastic, Easter eggs and let then enjoy their discovery. If you want your cats to be all worked up, then offer them some mice toys from a pet shop. You can also go for the cat dancer and crinkle balls which are available on Amazon.