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5 tips for saving your finances while paying installment loans online

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Whether you work a decent paying job or run a business, the secret to success is managing and saving your finances. Without good finance management, you don’t get to earn a profit, and you might have a slim chance to become successful. In fact, problems with your money can often lead to debt and other serious issues.

Most of the time, people who are in serious debt, have a lot of difficulties not only with their finances but with everything as well. Once you get debt, your credit score gets affected. A low credit score will make your loan applications tough and long. There’s also a minimal chance that your application will get approved because of a low credit score.

Low credit scores also have implications when you want to apply for a job. Most employers run background checks on possible candidates for employment. Background checks will almost always include credit scores. If an applicant has a low credit score, then he or she may not get hired.

For most creditors and other important agencies, credit scores are often good signs of trustworthiness. If you have a low credit score, people will think that you’re bad when it comes to dealing with your finances. On the other hand, a good credit score means that you’re more likely to have good deals with your loan applications. Bad credit scores are only one of the many adverse effects of not managing your finances.

With that said, what do you do when you have low credit scores? One good way to borrow money is by going online and finding installment loans. If you’re not familiar with these loans, you can check this blog post about installment loans online. With that said, here are some ways to help you save even if you’re paying an installment loan:

Have An Emergency Fund

Always have an emergency fund ready. It’s a known fact that everyone can experience an accident. Accidents and emergencies don’t come announced. Once something wrong happens, you can be sure that you’re going to spend a lot of money on hospital bills.

Emergencies are not limited to medical problems. Sometimes, you can encounter missed payments, bills, and other unforeseen costs. Having an emergency fund for the purposes mentioned above are good reasons to help you save up. An emergency fund helps minimize the costs of these bills.

Don’t Overspend

Most of the time, people often mishandle their finances through overspending. Even if you have an excellent decent salary or profit from a business, overspending can be a terrible thing. You might not feel it immediately, but overspending ultimately depletes your finances. People who don’t have a budget plan and overspend on things is a formula for a financial disaster.

Setting Up A Budget

When you want to save up, you need a proper budget plan. A budget plan helps you have a closer look at your finances. With a budget plan, you’ll get to see where and how your money comes in.

It may not sound necessary, but having an overview of your finances enables you to have more options. For example, if you want to save up on something, you get to see a list of all your expenses. From there, you can prioritize those spendings according to your needs. As you can see, budget plans help you properly manage your finances.

Alternatives

Always know how to go for a more affordable option. Don’t settle for the first thing you see. If you want to buy a car, don’t stick with one dealership. One dealership may have more affordable models or even better rates.

You should also go for utility instead of looks. For example, when you’re working as a mover, it doesn’t make sense when you buy a sports car instead of a truck to help haul things when you work. You’ll only end up spending more on gas and repairs instead of a hardy vehicle that can help you with your tasks.

Don’t Gamble

Believe it or not, people often incur debts because of gambling. Gambling is an addictive vice that can cause a serious amount of damage to your finances and your relationships. When people gamble, they might seem to be making money on the first few instances. However, gambling is an addiction that builds over time.

When someone gambles excessively, they build unhealthy habits that damage their finances. There have been several stories about gamblers pawning belongings or valuables that don’t even belong to them only to fund their addiction.

Takeaway

When you don’t know how to manage your finances, you’ll have a lot of difficulties when it comes to paying off debt such as installment loans. It’s all about being able to balance your finances without skipping out on monthly payments. The tips mentioned above will make it much easier for you to manage your finances when you still have a loan to finish paying.

 

 

 

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Letter: Vote for Kiesha Preston | Letters

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The residents of Roanoke, Virginia, need to get out of the box of voting based on party affiliation. It’s time to vote for the best candidate to do the job.

Kiesha Preston is running as an independent and is the best choice for Roanoke City Council. When she was only three years old, she was troubled because a local Kroger store removed the kiddie carts. She asked me how to get them back so she could shop beside me. I told her to go to the manager and she did. She stated her case, and a few weeks later those kiddie carts were back in the store.

Kiesha also has presented a bill to Congress that was approved. The Virginia Domestic Violence Victims Protection Act prevents domestic violence victims from not being able to rent an apartment because of bad credit as a result of their abuser ruining their credit.

These are but two examples of Kiesha’s tenacity and getting results. We need people on council who have no agenda and are truly willing to work for the least of us.

Kiesha is not intimidated by those in power and will hold her own to help those who cannot help themselves. This is why she is the right person to get the job done.

Please do not be discouraged because you are tired of the same old same old where parties are concerned. You have another choice so please vote for Kiesha Preston. She has been working tirelessly on behalf of the people without being elected to an official office. Just imagine what she can do once she is officially on City Council.

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This One Credit Card Will Get You the Most Cash Back Right Now

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Let’s admit it, choosing the right credit card can be a stressful process. There are so many variables to consider—from annuals fees to credit score requirement—not to mention the various rewards and benefits each card offers, and how those align with your lifestyle and spending habits. Then there are those hidden fees and interest rates you have to reckon with. In other words, it takes a lot of work to make a truly informed decision when it comes to choosing a credit card that’s right for you. Perhaps a good cash back program is high on your credit card priority list because, well, who doesn’t like some extra money in their pocket?

To help you decide on the credit card that is going to get you the most cash back, the experts at personal finance site WalletHub compared more than 1,500 current credit card offers. From that large pool, they narrowed down the field to the cards that offer cash back rewards, comparing those offers based on initial bonuses, rewards earnings rates, annual fees, and more. From that analysis, here are the best credit cards that will get you the most cash back right now. And for more money matters, check out This Is the State Where Your Money Is Worth the Least.

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Alliant Cashback Visa Signature Credit Card

Best for: Cash back on all purchases

Cash-back rate: 2.5 percent

Annual fee: $0.00 for the first year; $99.00 after that

What kind of credit you need to get one: Excellent

Learn more about the Alliant Cashback Visa Signature credit card here.

If you are worried about having buyer’s remorse after choosing a credit card, put that into perspective by checking out What You’re More Likely to Regret Than Anything Else You Do.

7

Discover It

Best for: People with bad credit

Cash-back rate: 1-2 percent

Annual fee: $0.00

What kind of credit you need to get one: Bad

Learn more about the Discover It credit card here.

6

U.S. Bank Cash+ Visa Signature Card

Best for: Cash bonus for good credit ($200.00)

Cash-back rate: 1-5 percent

Annual fee: $0.00

What kind of credit you need to get one: Good

Learn more about the U.S. Bank Cash+ Visa Signature Card here.

And to make sure you have money to pay off those monthly bills, avoid The Biggest Career Mistake You’ll Ever Make, According to Experts.

5

Chase Freedom Unlimited

Best for: No APR on purchases

Cash-back rate: 1.5-5 percent

Annual fee: $0.00

What kind of credit you need to get one: Good

Learn more about the Chase Freedom Unlimited credit card here.

And for more things that will help you and your family stay on the right financial track, check out The No. 1 Sign You Shouldn’t Buy That House, According to Realtors.

4

Capital One QuicksilverOne Cash Rewards Credit Card

Best for: People with limited-to-fair credit and looking for low annual fee

Cash-back rate: 1.5 percent

Annual fee: $39.00

What kind of credit you need to get one: Fair

Learn more about Capital One QuicksilverOne Cash Rewards Credit Card here.

3

Citi Double Cash Card—18 month BT offer

Best for: Flat-rate rewards

Cash-back rate: 2 percent

Annual fee: $0.00

What kind of credit you need to get one: Excellent

Learn more about the Citi Double Cash Card here.

2

Capital One Savor Cash Rewards Credit Card

Best for: Dining and entertainment

Cash-back rate: 1-4 percent

Annual fee: $95.00

What kind of credit you need to get one: Good

Learn more about the Capital One Savor Cash Rewards Credit Card here.

1

Blue Cash Preferred Card from American Express

Best for: Most cash back overall

Cash-back rate: 1-6 percent

Annual fee: $0.00 for the first year; $95.00 after that

What kind of credit you need to get one: Good

Learn more about Blue Cash Preferred Card from American Express here.

And for more helpful information delivered to your inbox, sign up for our daily newsletter.

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Possible Raises Series B and Moves Fully Remote | State

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SEATLLE, Oct. 20, 2020 /PRNewswire/ — Possible raises $11 million in new equity funding to expand the team and to provide additional products for its customers. Union Square Ventures led the round, with participation from existing investors Canvas Ventures, Unlock Venture Partners, Columbia Pacific Advisors, Union Bay Partners, Tom Williams, and FJ Labs. The company has also secured $80 million in new debt financing from Park Cities Advisors.

Furthermore, the company is now fully remote and recently onboarded software engineers from across the US and the globe. Possible is committed to distributed work and actively recruiting for a number of other remote roles.

Possible provides friendly access to capital and a simple way to build credit for people who otherwise would get a payday loan or get hit with a bank overdraft fee. The company uses real-time financial data, rather than a credit score, to qualify customers and provide funds instantly through its iTunes and Android apps. Unlike payday loans or overdraft fees, Possible loans are paid back in small installments over multiple pay periods to allow customers to catch their breath. By reporting on-time payments to the credit bureaus, Possible enables its customers to build credit history and eventually qualify for cheaper, longer term financial products. On average, customers with low credit scores see their scores increase by 70 points within 4 months.

Tony Huang, Possible’s CEO explains, “So many people who live paycheck to paycheck can’t afford to build credit history. We’re helping them do it for the first time while providing them with a friendlier and more affordable small-dollar loan.”

Since launching in June 2018, Possible’s given out loans to hundreds of thousands of customers, helping meet short-term cash needs while building credit history or establishing credit for the first time. These customers, often with bad credit or no credit history, are underserved by traditional banks. Possible fills that gap and provides financial access to those who need it most while giving them the means to climb their way out.

Gillian Munson, Partner at Union Square Ventures, explains the thesis behind their new investment, “Through tech innovation, data-driven insights, and a focus on the customer, Possible is well on its way to winning the hearts and minds of both consumers and regulators alike, and building a trusted brand that endures.”

A 2019 Experian study shows 34.8% of consumers are subprime and can’t access money when they need it. They pay $106 billion in punitive fees each year to the existing financial system for short-term credit products. These consumers are trapped in predatory debt cycles of payday loans and overdraft fees without the means to rebuild their credit or improve their financial health. While there has been a number of new tech-enabled products in this space, most lead to similar debt cycles and don’t address the harder issue of improving long-term financial health. That’s where Possible comes in.

Since the company is now fully remote, Possible is actively hiring talent across the globe. Tyler, Possible’s CTO, explains, “Being fully distributed allows us to access the talent pool of the entire world. Our success so far is a reflection of the quality of our people, and we believe hiring globally will allow us to find exceptional people to join us in achieving our mission.”

About Possible

Possible is a fintech company based in Seattle, Washington. The company provides a friendlier and easier way for customers to access capital while also building credit history and improving long-term financial health.

About Union Square Ventures

Union Square Ventures is a thesis-driven venture capital firm based in New York City. USV manages over $1 billion in capital across seven funds and focuses investments in portfolio companies with the potential to transform important markets.

About Park Cities Advisors LLC

Park Cities Advisors LLC (“PCA”) is a privately held, SEC-registered alternative credit manager based in Dallas, Texas. PCA is focused on private lending across the specialty finance and FinTech sectors and provides debt capital to companies across a variety of industries through asset-based financing transactions.

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