Smart Holiday Spending Tips

December 10th, 2011

Spend, spend, spend – that’s what retail and marketers want us to do this holiday. While it’s convincing to max out our credit cards and buy holiday gifts for the family, oftentimes we get carried away and break the bank. Major consumer holidays are coming up, and Christmas is probably the biggest one of all. We offer tips below that stress the importance of wise, thrifty, and smart consumer spending to ensure that you maintain great credit and live within your means. We all know getting through the holidays without stress is what everyone needs!

Always keep a watch out on your bank account and credit card statements. It’s easy to swipe away your savings, since you are not monitoring your money physically, getting carried away on holiday shopping happens to the best of us. Especially with events like Black Friday and Cyber Monday, marketers are finding new ways to encourage us to spend money on deals. Be sure to shop around to make sure you are getting the best deal. With all the fraudulent activities going on, monitoring your bank account will help keep these instances at a minimum.

Strongly consider gift cards as holiday presents, which will not go to waste for the person you’re spending on, as gift certificates allow you to put a cap on the amount you spend per person, and help you keep track of your spending without much fluctuation. Also, gift cards make great gifts when you are unsure what to get someone and may be redeemable for up to seven years. In many states, this is required by law, so you investment is protected.

Thrifty shoppers all know that major stores like Wal-Mart, Amazon, and Best Buy will match other stores prices if you show them an advertisement from a competitor’s ad when you are shopping, giving you the opportunity to buy a product at the lowest price. Stay educated and updated on all store policies, return policies, and layaway policies.

Restrain from buying on impulse, especially online shopping. Customers will spend more than they planned on impulse buys. If you set a list of items you are looking for, and try to stay on only items on that list, instead of browsing the whole store without a slight idea of a gift, you will end up buying more things you need.

If you are on a tight budget, revamp your gift list and evaluate your giving strategy. For example, if you have many little nieces and nephews, try spending a little bit more on a gift you can give as a group versus individual but less costly gifts. For example, a gaming system for the whole group and a game. Something that they can all enjoy together

Smart holiday shopping helps you keep your personal finances in check and also saves you from bad credit. If you want to avoid getting unnecessary personal loans, set a budget that you will adhere to no matter what. At all costs, don’t go beyond your means because paying back personal loans will be a hassle and struggle and it’s not fun to be in debt during the holidays.

Posted in Personal Loans

How to Find the Right Personal Loan Lender

December 6th, 2011

Taking out a personal loan is not bad. Taking out a payday loan is not bad, either. It is taking the wrong loan from the wrong lender that can turn out bad. The good news here is that once you find a good lender willing to extend this type of short term loan, you will never again have to go out searching. When you need fast money and are sure of your ability to repay the loan, you will know exactly where to turn. Following are some simple guidelines on finding the right lender for your loans.

Ask for Recommendations

Part of the allure of a payday loan is that it does not have to become news with all of your friends and family members. Many people go for this type of personal loan because it does not require a credit check, and because most lenders do not report to the credit agencies at all. This is therefore the most secretive type of loan you will ever find.

Yet, you need recommendations because it is a powerful way to find the most trustworthy personal loan lenders. If you do not have others in your personal life that you would trust to ask for a recommendation, you can go online and get the opinions of other consumers who you may not know in real life. Search for message boards that allow consumers to leave feedback on different loan providers. You will get some idea of who others are trusting, and who they are staying away from.

Read Every Page of the Site

Online payday loan providers are clearly the easiest to work with, since they allow you to fill out an application online and receive money directly into your bank account. It is tempting to just go straight to the application and put in for your payday loan, but that is a mistake. Take the time to read every page on the site. Make sure you feel just as comfortable with them after that as you did when you first found them.

Ask Questions

If you are not sure about the terms of your personal loan, or have questions about how a lender operates, you have to ask those questions prior to filling out an application. There should be a phone number where you can talk to a human being who has all the answers for you. If this is not available, then you may not be dealing with a reputable payday loan provider.

Check with the BBB

Check with the Better Business Bureau to see if other consumers have lodged complaints against the lender you want to work with. If there are a lot of complaints or a personal loan provider is not registered with the BBB, then you might want to turn in another direction for your loan.

It is important to note that many businesses get one or two complaints here and there, yet they are not bad businesses. You are just trying to rule out payday loan services who routinely get a high frequency of complaints from other consumers. If you do not see that, then you have probably found a reasonable business with a valuable service.

Posted in Personal Loans