Personal Loan Blog

Great Tips and Advice for Managing Your Money

pluming problem

Paying for home repairs can be extremely stressful; unfortunately, fixing and replacing things is an unavoidable fact of life for all homeowners, which is why it’s so important to start a home repair fund and have a plan in place for taking care of costly problems. Finding the right contractors and understanding your financing options are also important aspects of creating a plan for your home repairs. Looking for a loan? Take a look at the services offered at America’s Loan Company to get an idea of the kind of loan you might qualify for.

When you’re ready to start preparing for the upkeep and maintenance of your home, keep these tips in mind:

 Start a home savings account

While many home repairs are do-it-yourself and budget-friendly, others can be extremely costly, including plumbing and electrical issues or cleaning up the aftermath of a natural disaster, such as a flood. Even with home insurance, you may be responsible for covering more than you can handle. Starting a home savings account is a great way to ensure that you’ll always have enough funds put aside even for a major repair.

If you’ve just bought your home or gotten married, consider requesting cash gifts from friends and family to put toward your savings account in lieu of registering for housewarming gifts. Otherwise, you might create a budget that allows you to put aside a certain amount of money every payday according to your repair projections; typically, homeowners want to put away 1-4% of the value of their home every year.

Consider refinancing your home

Another option for paying for home repairs is to refinance your mortgage. This works best if you know you’re going to be staying in the home for several more years, and it requires you to keep up with the latest interest rates to make sure you can lock in a better number. Refinancing will lower your monthly payment and may even get you better loan terms; just be sure to do your research before committing to anything.

paint job loansHire the right contractor and make repairs right away

Once the need for a home repair pops up, it’s essential to make sure it’s taken care of as soon as possible; otherwise, you run the risk of the problem getting worse–and more costly to fix. Hiring the right contractor is just as important; you want to make sure they’re well qualified to take care of the issue right away. With things like HVAC repairs, for instance, fixing duct, heat sensor, or heat exchanger problems immediately will help save you money and ensure that your home’s air system returns to working order without disrupting your family’s safety or comfort. Check out prescreened professionals online to help find HVAC service in your area.

Take preventative measures

While paying for costly home repairs can be stressful, there are some simple things you can do to prevent them from becoming overwhelming. As you build your home repair savings account and prepare for the unexpected, think about how you can make sure your home is in the best shape possible. For instance, you might update each room, such as replacing the windows, adding solar panels, or using LED light bulbs and energy-efficient smart appliances. Keep an eye on areas like bathrooms and basements, where moisture and mold can become a problem. It’s also important to maintain the upkeep on the exterior of your home, especially on gutters and trim.

Taking care of home repairs can be expensive, especially as costs rise across the country. However, taking steps to find the right HVAC repair service, prevent major issues, and start a home repair savings account can help give you peace of mind and keep financial stress from setting in.

Article written by Christopher Haymon from Adulting Digest.

Personal Loan Planning

You know you have always worked hard to build a good life for yourself and your family. You dreamed, achieved, came, and you conquered. Now that you are approaching your retirement, you may want to try new things or have a new list of goals. 

You may be looking forward to more quality time with family and loved ones, traveling worldwide, or taking on new hobbies and interests. You may also look forward to finally fulfilling your commitment to your child's wedding or higher education.

Sound retirement planning will give you the power to do as you wish while you stay financially afloat.

What is Retirement Planning?

Retirement planning is the preparation for your future life to maintain your financial status and independence in achieving the plans and goals you have in mind in your later years. It mainly includes a set of retirement goals wherein an estimated amount of money is established, together with your investments and insurance.

A retirement plan is unique to the one who made it because, after all, you may have specific visions of how your retirement life will be. Thus, developing a retirement plan tailored to fit your needs is essential.

You should know that you may be retiring from work, but you are certainly not retiring from life. At this point in your age, your vision of a post-retirement life is more apparent to you than before. Although, you also need to consider your fitness to maintain your lifestyle without worrying about your finances.  

Budgeting for retirement in advance can help you define how to achieve your life goals without stressing over expenses.

Here are ways you can make a worry-free retired life happen:

How Much Time You Have Left Until Retirement?

Your current and projected retirement age are the foundation of an effective retirement strategy. The longer the time you have before retirement, the higher the level of risk your financial portfolio can withstand. If you are young and have decades until retirement, the majority of your assets have to be in riskier investments, like stocks. Throughout history, stocks have outperformed other securities, like bonds.

Establish your Fixed Retirement Spending Needs

Having realistic expectations about your post-retirement spending habits is essential, and doing so will help you specify the required amount of your retirement fund. Examples of factors that affect post-retirement spending are unpaid mortgages, unforeseen medical expenses, and the like.

The cost of living for a person increases each year, especially with healthcare expenses. Thus, you will need more income if you intend to thrive in retirement with a good health slate. You will need to save and invest according to such intention. It would be best if you made a conscious effort in budgeting, so you do not outlast your savings.

Determine The After-Tax Rates Of Your Investments

Once you have figured out how much time you have until retirement and established your fixed retirement spending needs, you will have to calculate the real after-tax return rate to assess your investments' feasibility to produce the income you need. 

The type of retirement account you hold determines how your investment returns are taxed; thus, your actual amount must be figured out on an after-tax basis. Determining your tax status is a significant part of the retirement planning process when you start withdrawing funds.

Risk Investment And Investment Goals

A proper investment portfolio allocation with balanced concerns of risk aversion and returns objectives prepared by you or a professional money and investment manager is the most critical part of retirement planning. You will need to find out how much risk you are willing to take to meet your objectives.  

It would be best if you were comfortable with your investments' risks. You also need to draw the line between what is necessary and what is not.  

Master Your Estate Plan

Estate planning is also an essential step in a sound retirement plan. Since you cannot do without estate planning, you will need the expertise of lawyers and accountants. Life insurance is also an equally important part of an estate plan and retirement planning process. 

Having a proper estate plan and life insurance coverage puts you on top of things as your assets are used according to your choices, while your family will not worry about money following your death. A carefully laid out plan can also prevent your loved ones from undergoing an expensive and lengthy probate process.

If you wish to leave assets to your family members or a charity, you will have to compare the tax implications of either gifting or passing them through the estate process.

The Bottom Line

One of the most challenging parts of developing a comprehensive retirement plan is balancing realistic return expectations and the desired lifestyle. The best move is to focus on creating a flexible portfolio that you can regularly update to show the ever-changing market conditions and your retirement objectives.

happy dog in fall

What do the labor market and the stock market have in common these days? They're incredibly volatile and prone to sliding into disarray at any time. As a result, you need to identify ways to survive and thrive if a recession occurs. Below, find out how you can set yourself up for financial success even in the event of an economic downturn.

Choose a New Location

Part of adapting during a recession may include moving to a city or state with a lower cost of living. If you decide it's better to pack up and leave, it's in your best interest to hire professional movers to transport your belongings, so you don't risk injury or property damage trying to do it yourself. Do online research to find the most highly rated West Jefferson moving companies, and obtain quotes after they've done in-person evaluations. Look for discount offers to help you save money.

Invest in a Home Warranty

Whether you stay put or move to a new place, your home will always be in need of maintenance. You can help bring down repair costs by investing in a home warranty. These plans typically cover some or all of the costs associated with repairing or replacing appliances and other home systems. Check if there are existing warranties on any items in your home, and also look over your home's inspection report to see if any appliances or systems are at risk of malfunctioning or breaking in the near future.

Manage Your Finances

To financially weather a recession, you must get on top of your finances. Start by pulling together important documents related to your finances, such as tax returns, bank statements, and receipts. PDFs are great files for documentation because they can be easily manipulated and marked up as necessary. You can also use a PDF extractor tool to extract PDF pages from each document. This allows you to compile the most important pages in one modified PDF for easy access and convenience.

Learn New Skills

If you find yourself unemployed or underemployed during a recession, use the opportunity to gain new skills, so you can make an upward career move. This can involve going back to full-time school to earn a degree, taking a few courses at your local community college, or participating in online classes on sites such as Udemy or Coursera. Additionally, you can attend workshops and seminars to keep up with the latest best practices in your industry and network with new people who can help you land your next role.

Plan Your Next Move

You can't control economic conditions, but you can be prepared for them by taking steps now to ensure your finances are healthy enough to handle a recession. Look into places to relocate to for a lower cost of living, make sure your home's contents are covered, stay on top of your finances, and learn new skills to give yourself the best chance of coming out on top if a downturn occurs. To obtain an affordable loan in the West Jefferson area, visit America's Loan Company.

Article written by Christopher Haymon

borrow cash wiselyOnline scams seem to be very prevalent.  Our office receives constant phone calls from consumers wanting us to help them after they have fallen prey to a scammer who pretended to work for America’s Loan Company.  However, once a consumer allows a scam artist access to their money, there is little to be done except report the incident to the authorities.  Unfortunately, there is seems to be very little, if anything at all, that the authorities can do to help consumers get their cash back.  The best rule of thumb is buyer beware.  Do some research on the company which is promising to lend you funds.

Red Flags That Tell You’re Dealing With Scammer

According to Bankrate.com, here are some of the red flags that tell you may be dealing with a fraudulent entity.  Legitimate lenders will not offer guarantee of loan approval.  The reason is that a good lender will run a credit report through one of the major credit bureaus (TransUnion, Equifax, Experian) before they can decide whether you are a good risk to lend to.  A lender gets paid when a loan is paid.  So obviously they will not give you a loan if there is not a reasonable credit payment history.  Scammers will not care about your credit history. 

If the lender is not registered in your state to do loans, then you probably should stay away form it.  It should make you wonder as to the reason that they are not registered.  A reason may be that the lender does not want to abide by your state’s laws.  A lender registered with your state will have to abide by the accepted laws within the state, which is safer for you.

Another big red flag is if a lender requires payment before loan disbursement as a condition to being approved for a loan.  This can take the form of given them gift cards, prepaid cards, and even your banking information.  A legitimate lender will charge fees associated with a loan, but, these will be included or deducted from the loan at the time of contract signing.

Lack of a physical office that you can visit is another sign that you are dealing with a scammer.  No physical address means that the lender can’t be found, even if you report a bad incident to the authorities.  If the lender provides an address, use online map options to verify that the address given is a business address.

Tips On Researching A Legitimate Lender

There are online tools to help avoid fraudulent businesses.  According to a CNBC article we can search a business in the Better Business Bureau website.  A business must pay to be registered with the BBB and be responsive to consumer concerns.  This make the businesses registered with the BBB more trustworthy.  Another option is to contact your state’s department of financial institutions, click here for Ohio’s.  That is where files of registered lenders are kept.  You may then search for a lender to verify their legitimacy.  Also pay attention to online reviews in the likes of Google, Trustpilot, etc..

Always remember to do your homework before giving a lender your personal information or any kind of payment.  Don’t let a sense of urgency cause you to fall for a scam.  Remember that once you fall for a scam, chances are you won’t see that lost money again.

breaking the piggy bank

Mistakes aren’t mistakes if you can find a way to learn from them. Every millionaire knows this, but it can be a hard pill to swallow when you’re recovering from a financial setback. If you’re a burgeoning entrepreneur, monetary mistakes can easily shake your self-confidence. You can only ruminate on losses for so long, though. Eventually, you need to find a way forward and regain your entrepreneurial spirit. With enough ambition, you can leave your financial mistakes in the past.

Adopting a New Approach After a Setback

A financial setback is frustrating for an aspiring business owner, but it offers an opportunity to learn and adopt a new approach. In order to truly learn, though, you must start by confronting your mistake and identifying what went wrong. If your setback occurred as a result of a risky investment, for example, you need to devise a plan for taking risks more prudently in the future.

There are many risks that are necessary — and, in fact, good — for aspiring entrepreneurs. Starting your own business demands that you walk away from a steady paycheck, but it can pay dividends if you successfully launch the business you dream of. Similarly, as you build your business, you’ll need to trust the people around you. This is a vulnerable position, but it can facilitate strong relationships.

To get a better idea of other risks that may be beneficial, you should assess the competition in your field. Using the data you gather, formulate a business plan that covers your financial plans, marketing strategies, and key leadership roles in your company. An explicit business plan is the best way to overcome past setbacks and ensure future success.

Knowing When to Rely on Your Team

Your business plan is a useful blueprint, but you won’t be able to enact it on your own. You need to develop a team that will support you and complements your leadership abilities with their own skills. This team should consist of any staff you hire, but it should also include the friends and family who play a strategic role in promoting your business.

With a circle of support around you, it’s important to know when to delegate work. According to research, the higher your income is, the less likely you are to complete your daily tasks. As an entrepreneur, it can be easy to assume every responsibility in your business, but this simply isn’t sustainable.

You can grow your business more effectively by delegating simple tasks and hiring a virtual assistant for your business. You’ll find plenty of qualified professionals when you’re looking for the best job board. The right candidate will be able to provide a range of services, including help with administrative tasks, customer service support, scheduling, and data entry.

Leave Financial Setbacks Behind

Entrepreneurs are naturally ambitious, and they’re often their own worst critics, too. These qualities make it difficult to overcome setbacks — especially when they’re financial. You can leave money mistakes in the past, though, by developing a supportive circle, taking healthy business risks, and learning how to delegate tasks. These skills will help you realize all of your business dreams despite any previous missteps.

Establish a successful business by learning from your mistakes. A virtual assistant can help you manage your daily tasks and juggle all the responsibilities of an entrepreneur.

Article writen by Emma Grace Brown For America's Loan Company

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America's Loan Company - Notice

Customer Notice: Personal loans, title loans, and car loans have terms 6 months or longer. There are no early payoff penalties. We currently report to one of the 3 major credit bureaus, TransUnion. However, many factors affect your credit score. Therefore, we can't promise that your credit score will improve while having a loan with us.

Requirements: We are able to service Ohio residents only. Approval depends upon meeting legal, regulatory and underwriting requirements. America's Loan Company may, at its discretion, verify application information by using national databases, including but not limited to Teletrack and any of the national credit bureaus. America's Loan Company may take this information into consideration in the approval process. Due to state and verification requirements, not all applicants for loans may be eligible for approval by America's Loan Company. You may be required to submit additional documents due to state law and qualification criteria.

Products & Services: Products and services offered to customers may vary based on customer eligibility and applicable state and federal law. Actual loan amounts vary. The availability of loans and extensions may vary. Auto loans and secured personal loans are subject to minimum auto value requirements.

Further Personal Loan Disclosures: For qualified customers, America’s Loan Company offers bad credit personal loans with terms of 6 months to 5 years, with APR under 35.9%. As an example, you may borrow $1,500.00 over a 24 month period, with a $10.00 credit investigation fee, $100.00 loan origination fee, and $452.32 in interest, for a total payment of $2062.32, with an APR of 32.6514%, and monthly payments of $85.93.

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