At the beginning of the new year, your cash flow is probably tighter than your jeans (that managed to fit before Christmas.) You might therefore be searching for a loan to help keep you afloat.
Getting a loan can be a complex process, especially when the conditions attached can be hidden in the fine print.
Nothing sucks the air out of a room quite like a relative asking to borrow money from you. No matter how much you love your family, the prospect of loaning your hard-earned money to them can be uncomfortable at the very least.
There’s nothing like that gut-wrenching feeling you get when you lose a phone or spill coffee all over your laptop, and you’re all out of savings. If you’re in the market for a loan it’s tempting to accept the first offer you receive, especially when that ‘interest free’ deal seems perfect. However, you need to be careful.
Some financial terms are so similar that they end up being used interchangeably. But that doesn’t mean they’re the exact same thing. One especially common mix-up: the difference between cosigners and guarantors, who are both people who can help you get a loan if your individual financial history isn’t strong enough.
How are the kids paying for weddings these days? With loans. For a party that lasts a single day. The Washington Post examined the practice of taking out a personal loan to pay for your nuptial celebration. And while it’s not a surprising read, it’s still horrifying.
Dear Lifehacker, My old jalopy is about to die on me yet again, so it’s time for a new car. I’m wondering if I’d be better off leasing my next car instead of buying it. Which is the better deal, leasing or buying with an auto loan?
A new poll from Bloomberg suggests that almost half of Americans would have a hard time affording a $100 emergency, like a speeding ticket, medical bill or other unexpected expense. Many Australians are in similar situations as well. Consider the idea that maybe this says less about people's financial habits than it does the garbage economy.
More companies are popping up that offer social data to help lenders, landlords and other providers gauge your creditworthiness. In other words, they use your online presence to make decisions about your application.
With the holiday season nearing full swing, your family time is about to be dialed up to the max -- which can be great on one hand, but a bit agonizing on the other. Because let's face it: For every relative you're glad to catch up with, you've got another one asking you uncomfortable personal questions -- and you may already be strategising how to emerge unscathed from being cornered by Great Aunt Martha. It's no wonder that psych pros see holiday gatherings as a legit source of stress for many of us.
Getting hit up for a loan can make you feel like you're stepping into a minefield. In today's economy, it's easy to understand how someone can find themselves in a dark place financially. On the one hand, you want to help out a loved one who's in need.
On the other hand, you've heard the stories about loans gone wrong, with friendships ruined and families torn apart. Also, you may be depleting funds that you might need yourself, says Irene S. Levine, PhD, psychologist, author and producer of TheFriendshipBlog.com. Even if you're sure that the asker will pay you back, it's hard to know if you should proceed.
Your cousin has been having financial troubles and has reached out to you for a lump sum of money to ease the burden. He said he'd pay you back when he is able to. Flash forward three years and his money problems seem to have evaporated but you still haven't seen a cent of the money he was meant to return to you. Is it legal to sue someone, especially someone you have a close relationship with, over unpaid loans?
We've all had that one friend who never seems to pay us back. Instead of bugging your friend, go out to lunch and bring up the loan when the bill comes.
Starting, managing and growing your business will likely be one of the toughest challenges you’ll ever face. But the rewards are clear. Financially, and if all goes to plan, for your lifestyle. Here are some tips, tools and ideas to help you strategically consider your day-to-day cash flow and your goals for future growth.
Hey Lifehacker, I'm in the process of asking my bank for a loan secured against a property I own. I'm wondering: why do they always ask me for my rates notice? What does this tell them? Why would they want that when they can do a simple search and see I own the property in question?
We all have them. The one friend who is suddenly in a tight bind and needs to borrow money for unforeseen expenses and needs the money in a hurry. They may not be able to ask family, and instead they come to you in hopes they can get some funds without a fuss.
Dear Lifehacker, I bought a new car last year, and got financed by the dealer at about 6 per cent, which at the time I thought was good. I noticed they are now having a sale with 1 per cent finance. Is it too early to try and renegotiate my loan? Thanks, Over Charged
Dear Lifehacker, I've racked up a fair bit of credit card debt, and while I'm slowly paying it off, it's a pain wrangling multiple bills with different interest rates. My credit union is offering debt consolidation loans with a lower rate than any of my cards -- should I take that, use it to pay off all of my cards, and only have one, low-interest bill to pay every month? Thanks, Trying to Dig Out
"Payday loans" -- emergency sums to tide you over if you're short while waiting for your salary -- are an expensive way to get money. New operator Ferratum offers a technology twist by incorporating the ability to apply for short-term loans via SMS messages, but the rates remain just as painful.
