Cash Loan

This article discusses the viable options for various types of loans and how they can be helpful in an emergency situation...

Cash Loans for Emergency Situations

A couple highlights...

Of course cash loans can also be acquired at your local bank, but this
process is normally slow and can involve a rigorous approval process....

If you don’t have the time or the credit history to approach your bank for
an emergency cash loan, you might want to consider a payday loan or payday
advance....

7 Reasons The Motley Fool Gives Us Not to Worry this Week

Rick Aristotle Munarriz gave these seven suggestions for companies that are to post higher earnings this week.

How to Save Money Wisely to Avoid Having to Borrow Money

Saving money is not as easy as people may think - it takes a great amount of discipline and restraint to avoid giving into temptation and buying things that we want. We must always remember that emergencies happen - while obtaining a loan, any type of loan, may be an easy way out, it can also be quite costly. The easiest and least stressful way to avoid borrowing and be prepared for a financial emergency is to plan ahead and save money wisely.

With the ability for consumers to easily obtain loans through the Internet, many have become lazy in regards to saving money, viewing loans as an "easy way out," instead of planning ahead and saving money to avoid borrowing. The fact remains that loans, especially payday loans, should be viewed as a LAST RESORT, and not a simple solution. Sure, giving into temptation and spending money on everything we want is easy, but what happens when we face a financial emergency and there are no funds available to cover it? Loans are always available, but at a premium, since most carry high interest rates. It is time to instill a sense of financial discipline and restraint within yourself. Saving money is the best way to cover a financial emergency and avoid having to endure high interest loans. By having a plan and saving money little by little, a dire situation can be avoided and you can be covered in times of financial need.

The first step in saving money wisely is to set aside money from every paycheck you earn - this could be as little as 10% of what you earn or as much as 50%, though somewhere in the middle is ideal, as you don't want to completely deprive yourself. This method is a good beginners' step to take, and while it may seem difficult at first, it is one of those things that with practice becomes easy as time goes on. For example, if you receive a paycheck of $1,000, setting aside $100, or if possible, $250, would be a great way to get started on your savings. Over time, assuming you don't have to dip into these funds often, you can afford to save a little less as you will build up a good amount of savings to use as a contingency in case a financial emergency arises. Again, doing this takes a great deal of discipline, but you must remind yourself of the consequences of not saving, namely being broke, period, or having to be responsible for a high-interest loan. Neither is a desirable outcome, which makes this method a good first step in building up savings.

The second step to saving money wisely is to budget your finances and make necessary sacrifices. By knowing where your money needs to go each month, you can have a better understanding of where you stand financially, and how much money you can allow yourself to purchase things you really want. Keep track of every expense - rent or mortgage, utilities, car expenses, groceries, and of course, remember to save all receipts. If you see that you are spending too much money in one area, you can identify where to make sacrifices. You can perhaps get a more economical cellphone plan, spend less money at the grocery store or dine out less, or if possible, cut down on driving and look into public transportation (which, of course, is easier said than done). Doing this ensures that you know how much you can afford to spend each month on things you want, while having the peace of mind that you can cover a financial emergency should one occur.

Now that you have the two steps to saving money more wisely in hand, it is time to make do on the promise to be more financially disciplined. It is time to be more responsible and break the cycle of reliance on last resorts, such as conventional or payday loans to get out of a financial crisis. Of course, if multiple financial emergencies arise and you do not have enough savings to cover them, only THEN would a conventional or payday loan be acceptable, but if that is not the case, it is wise to avoid loans as much as possible. In conclusion, the best solution to a financial crisis is completely within your power - if you plan ahead and save your money wisely, you can avoid the pitfalls of high interest loans and enjoy more financial flexibility.

When is a Payday Loan the Best Solution?

A payday loan is applicable to numerous circumstances that arise when we least expect them to. Unfortunately, in many cases, these circumstances require us to cough up large sums of money, and there is no way around it, especially if you cannot afford it. Individuals are quick to call their parents or friends for money, or visit the local pawn shop to sell a few items for quick cash. While these are all acceptable methods of paying bills or obtaining money, these options are not always readily available. Even worse, some individuals write checks that bounce, creating an even messier situation, as banks love to nail customers with overdraft fees or bounced check fees. This also negatively impacts your credit, leading further down the spiral of debt and despair.
What IS always available, most conveniently only a click away, is securing a payday loan.
Some situations that may call for a payday loan are:
1. Unexpected medical expenses: Let's say your employer does not offer medical benefits, and while at work, you get injured - you twist your ankle, injure your hip, etc. You go to the hospital, and get slammed with a $500 medical bill. With other urgent expenses looming, you simply don't have the cash to pay the bill. You don't want to incur any late charges, so securing a payday loan is the BEST way to pay the bill. Simply pay off the loan next time you get paid.
2. Car expenses: Cars are unpredictable - they may be in perfect shape aesthetically, but it's what's under the hood that could falter at any given time, no matter how well you may take care of the car. Regular oil changes, tire rotations - it does not matter, mechanical problems can arise when you least expect it. Imagine you try starting your car one morning and it does not start - you have to get the car towed to the shop, then find out that your battery is dead and you need a new transmission. The eager mechanic happily tells you that it will be $1,300 to fix your car. You don't have a credit card, and you can't write a check because it will bounce. This is where a payday loan would be perfectly appropriate, as you will be able to cover your impromptu expense quickly without having to endure bounced check fees.
3. House Expenses: Landlords are not the most forgiving individuals, and one of their pet peeves is when a tenant cannot pay their rent on time. Whenever rent is late, landlords find great pleasure in assessing late charges for each day the rent is late, sometimes in excess of $50 each day the payment is late. Instead of incurring these late fees, or bouncing a check, simply take out a payday loan to cover your rent. The interest on a payday loan will be less than the late fees or bounced check fees.
4. Family Emergency: You live in New York, your parents live in Florida, and when one of your parents gets sick, you need to fly down to visit them. Bills are piling up, and you simply do not have the money to pay for a plane ticket for the trip down to Florida. A payday loan can be used to pay for a plane ticket, as well as cover other costs while on your trip.
5. Miscellaneous Expenses: Let's say you are in a hurry to get to an appointment with a client, and a cop comes out of nowhere and stops you for speeding. Depending on how much over the speed limit you were, speeding tickets may cost at least $80, not to mention court costs and rising insurance premiums. These are unwanted expenses that not everybody has the funds to cover, so a payday loan may be used in this situation to pay off any costs associated with a speeding ticket. It goes without saying, however, that simply abiding by local driving laws can avoid a situation like this.Payday loans can be secured at numerous locations around your area, or by going online and filling out an application to be matched with a lender. Depending on how busy you are, either option is good, but it is highly recommended to apply online, as it is 100% secure, quick, and you can be matched with lenders in your locality. OneHourCash, Payday Pro and PayAdvanceLending are examples of highly-reputable payday loan websites. No matter how you obtain your loan, understand that when used responsibly, payday loans are the best short-term option to get you out of your financial bind.


Thanks to Steven Lancaster for the article.

Warren Buffet’s 10 Rules for Getting Rich

This afternoon I went to Jimmy John's for lunch and noticed a sign on the wall that showed Warren Buffet's list of 10 Rules for Getting Rich. Instead of ripping the sign off the wall and risking felony charges for theft and vandalism, I decided to Google the list instead. Unfortunately, I was never able to find an exact replica of the rules that were on the wall of the sandwich shop. I did, however, find this blog post, Warren Buffett's Ten Secrets to Wealth and Life, which discusses the rules as they were in Parade magazine. Here is the list in its entirety as written by J.D. on September 10^th, 2008.

1. Reinvest your profits. "Even a small sum can turn into great wealth," Schroeder writes, if you're disciplined to not touch your profits. Let the power of compound interest work for you.
   
2. Be willing to be different. Don't follow the herd. Do what is best for you and your situation.
   
3. Never suck your thumb. Ah, how I could learn from this one. Buffett makes decisions quickly based on the available information. I tend to sit and stew about things. Acting decisively can give you an advantage and prevent procrastination.
   
4. Spell out the deal before you start. I stress this all the time: Don't sign a contract unless you've read it (especially not a mortgage). Read the fine print. Understand the what you're getting yourself into.
   
5. Watch small expenses. While it's true that the big things matter, the little things do too. Frugality is an important part of personal finance. But this principle also applies when investing, which is one reason I'm a fan of low-cost index funds.
   
6. Limit what you borrow. "Living on credit cards and loans won't make you rich," writes Schroeder. Sure, leverage can get you into a home or a new car, but too much debt is one of the biggest drags on your financial well-being.
   
7. Be persistent. If you know what you're doing is important and right, stick to it. Doggedly pursue your goals. Learn to "fail forward".
   
8. Know when to quit. The other day, I wrote about the danger of the sunk-cost fallacy. Just because you've already paid $10 to see Indiana Jones and the Kingdom of the Crystal Skull, doesn't mean you should sit through to the end. Be willing to cut your losses and walk away.
   
9. Assess the risks. "Asking yourself 'and then what?' can help you see all of the possible consequences when you're struggling to make a decision — and can guide you to the smartest choice."
   
10. Know what success really means. Success is different for each of us. Find what it is that brings meaning to your life, what makes each day important. Make this your focus. Buffett says: "When you get to my age, you'll measure your success in life by how many of the people you want to have love you actually do love you. That's the ultimate test of how you've lived your life."
    

Thanks to J.D. for writing this article on the Get Rich Slowly blog on September 10^th, 2008.

Please check out FreeCreditQuiz.com for credit advice.

Worker Dead at Desk for Five Days

I just couldn't resist posting this article.

Wow...imagine what you could get away with in an oblivious office like that!

And to think I was actually offended when Tiffany Tube Top ignored me in the kitchen...I should be ashamed of myself.

Warren Buffet is the Man--Seriously!

I have long been a fan of Warren Buffet, the Oracle of Omaha. I once did a report on him for a public speaking class in college, but I'm afraid most people were not as excited about this 70 something investor as I. Fortunately however, there are many people who respect and admire him. Below are some snippets from an article about Warren Buffet that I found on the Motley Fool website.

Seriously, Warren Buffett Is a Better Investor Than You
By Tim Hanson and Brian
Richards

...See, in helping privately held Mars buy Wrigley last year,
Buffett made a deal with zero liquidity in sight. That's precisely the opposite
of virtually all investors in private companies (particularly venture
capitalists), who demand a clear path to liquidity from the start.

But not Buffett The Oracle of Omaha has long preached that the long term is the
only view for an investment -- even if the investor is beyond retirement age.
He's said before that his ideal holding period is "forever" -- and the
Mars-Wrigley-Berkshire (NYSE: BRK-B) deal is yet another example of Buffett
putting that theory into practice.

Mr. Buffet's long-term strategies are admirable and should be followed by investors from all socioeconomic backgrounds.

...Yet most investors have not learned this lesson. Recent NYSE data showed
that the average holding period for a stock is now less than one year....

One year? Wow! That's just ridiculous. It's one thing to have a sum of money that is strictly set aside to "play" the market and not worry about losing, but for the average holding period to be less than a year is surprising.

The article goes on to talk about common misconceptions people might have about Warren Buffet. For example:

We got emails telling us that Buffett has tons of advantages over the
common man, ranging from his enormous war chest of cash to his access to
executives and/or privileged information...

....Buffett's enormous cash position is actually an enormous disadvantage
when it comes to earning superior stock market returns. It essentially prevents
him from investing in anything other than liquid large caps...

...According to Capital IQ, while there are more than 28,000 companies
trading on the world's exchanges, there are just 1,566 currently capitalized at
$3 billion or greater. That means Buffett's cash position effectively locks him
out of 95% of all public companies.

Basically, Warren Buffet does NOT have an advantage because of his vast wealth, instead he has a disadvantage. He has often said that if he only had $1 million to invest he could easily see annual returns of up to 50%.

We should all take a lesson from Warren Buffet's patient yet persistent investing strategies. The man is one of the richest men in the world, and he has been building his wealth in the market since the age of 11.

Here are some final tips to help you follow Mr. Buffet's investing style:

So while he may be a better investor than us today, we can at least learn
from his experiences and -- like he did -- become superior investors over
time.

That means:
1. Buying for life (or, at least, the long term).
2. Buying
small (perhaps our lone advantage).
3. Buying based on thorough research and
due diligence.

MORE bonuses for bankers?

This article is a few days old, but still brought about a "what the *&^?" moment.

More bonuses for Citigroup's bankers? Yes
Posted Apr 29 2009, 06:01 AM by Douglas McIntyre

Citigroup (C) has gone to the Treasury to beg for bonuses for some of
its most important traders, people who make the banks extraordinary
amounts of money. The Treasury’s reaction will probably be that it wants to stay
out of a fight with Congress and avoid negative public opinion and will turn the
request down....

...Wall Street’s primary argument for keeping a high level of compensation
for its best investment bankers and traders is that if they leave, overall
losses at banks could get worse....

...The government is going to have to come to grips with the fact that
banks have to pay the best bankers even if the idea is unpopular. There is
nothing new in this argument, but it is extremely urgent that it be
resolved.

I can see the reasoning here, but can also clearly see why this is NOT a popular idea with public opinioin. It reminds me of a comedian I saw once who did a routine about the poor getting charged for being broke and the rich getting paid for being rich. Of course that was a comedy show, but still...it's easy to see how the banks can fall under close scrutiny when having to make unpopular requests from government organizations.

I truly hope that if these "money makers" are going to get bonuses, they can stimulate the market enough to help bring the banks out of the hole and back on their feet. It's important that the money trickles down from the top to the bottom quickly, because--as we all know--that's where the REAL engine lies that drives our economy.

Stock Market Simulations are a Valuable Learning Tool

Probably everyone you know has an opinion about where you should put your money. Like most investors, your knowledge and market experience is novice at best. Maybe this is your first time investing? Are you looking to get a “feel” for it before diving in head first? Investing can be difficult and risky, however online investment games offer a fun and exciting learning tool. Maybe this sounds silly, but it’s actually a great way to get hands-on experience with the real stock market.

Online stock trading games allow potential investors to develop a better understanding of the market and it's easy to notice changes in the stocks and the effects on your investment. You can also turn to the many groups to seek advice and new strategies.

With real stock quotes and real time simulations, online games allow you to experiment with strategies risk free. Whether you’re investing $1,000.00 or $1,000,000.00, a little hands-on practice and experience might be the advantage that leads you to higher profits.

Top Ten Reasons to Use Payday Loans

1. Late rent might lead to an eviction.
2. Late fees on your bills are accumulating.
3. Car trouble.
4. A payday loan will help you provide groceries for your family.
5. Family medical emergency.
6. A cash advance will allow you to pay off your credit cards.
7. You HAVE to make payments to avoid collections.
8. Phone is about to be shut off.
9. Utilities are about to be turned off.
10. You simply need extra money.

Payday Loans and the Poor Economy

In this economy it seems worrying that creditors find ways to shake extra money from consumers. In January I received a call from one of my credit card companies. I was in good standing with this company for several years, but that didn’t seem to matter. The customer service representative on the other end of the call informed me that they raised my APR. The only reason given was that it was caused by the unfortunate state of the economy. This prompted me to think about how this circumstance could affect someone living on a tighter budget than me.

Why, in this dwindling economy when someone like me struggles more than usual, do wealthy credit companies need unnecessarily large APR’s to increase profits? What if an increased APR forced me to choose between a credit card payment and becoming late on the rent? What if I were struggling to buy groceries this month? These might seem like extreme examples, but there are people living on tight budgets whose lives would be significantly affected by such a disturbance.

What can you do?

If you have a decent reputation and are willing to wait several days or several weeks for approval, you can try to apply for a loan from a bank. Maybe you want to open another credit card, but the poor economy makes it difficult if not impossible for anyone to get credit approval. You can borrow money from a friend or family member, but that’s an embarrassment most people choose to avoid. Even though your situation might feel hopeless at times, there is an answer that is fast, efficient and not humiliating.

A rapid and viable option for someone with less than perfect credit, and who might be in a financial pinch, is an online cash advance payday loan. Perhaps you've heard some negative reviews or stories about this kind of loan, but the truth is they can be a lifesaver in big situations, if you can and will pay back quickly in accordance with the agreed limits. Finance fees related to a payday loan might be lower than the accrued late fees associate with high APR’s, and can you avoid negative marks on your credit report. In addition, applying for online cash advance loans you should not worry about traditional credit checks, which may also negatively impact your credit report. For these reasons and because they are fast (the money is often electronically deposited into your account the same day) payday loans can be a very useful solution to your financial woes.