Category: Loan

How To Qualify for a Personal Loan in Singapore

personal loan needsPersonal loans are beneficial, especially when you encounter an emergency. You do not have to worry about where to get enough funds to support your needs because there are several licensed money lenders in Singapore you can approach. However, qualifying for the loan may be challenging if you do not have the requirements.

Approach A Licensed Money Lender

Your qualification requirements for your loan may vary depending, on the type of lender you approach. Look around for various moneylender in Singapore and check out their requirements. From the very beginning, you can already determine whether you think you qualify for the loan. Here are some common personal conditions you should prepare for:

  • A government issued ID such as your passport or driver’s license;
  • Recent pay slip;
  • Latest Income Tax Return;
  • Utility Bills; and
  • Credit Card Statements

These documents are pretty accessible for anyone who wants to apply for the loan, primarily when you are employed. Moreover, the records are essential for any moneylender in determining your identity and ability to pay.

Prepare Your Financial Statements and Credit Card Scores

Some personal loans do not require you to give collateral, which should make borrowing money more accessible for anyone. But if there is one thing everyone should be prepared for instead, it is their financial and credit score ratings. These ratings are determinative in your ability to pay and serves as an indicator and basis for your lender’s.

As much as possible, you want to show your lenders that you have a good credit card score and your financial statements are looking great. Even if you are not planning on applying for a personal loan shortly, it still pays to be responsible and have proper credit. You can do this through the following examples:

  • Never delay your credit card payment;
  • Manage your expenses wisely;
  • Do not borrow too much money from a moneylender in Singapore.

Deal with Your Existing Debts First

If you have any existing debt or even a long-standing debt, you want to make sure you settle those first. It is vital that you do this, or else it will appear like you have a bad credit score which leaves a significant dent in your capacity to apply for a loan. Regardless of whether you got your previous loan from a licensed money lender in Singapore, you want to make sure you start with a clean slate with your moneylender.

This step is crucial, especially if you have a bad credit score. There are many ways for you to deal with your existing debts, and here are some easy techniques which you can observe:

  • Pay-off any current or long-standing deficit, by creating a strict payment schedule.
  • Check with your moneylender if they can reduce the interest rate you have to pay;
  • Negotiate whether they can extend the payment schedule so it would not be hard for you.

Make an Estimate of the Amount You Need to Loan

If you are lucky enough, you might be able to secure a big personal loan from your moneylender. But you want to make sure that you try applying for an amount which you need, because you may have to pay off the loan if you overestimate the amount. Before you contract the credit, identify the amount that you need and set a minimum and maximum limit.

One of the things you need to keep in mind when making a list is also your ability to pay. It isn’t just the responsibility of various money lender in Singapore to check your requirements because you also have to be aware of it.

  • Determine whether you can pay the amount you set;
  • Identify the necessity of contracting the loan;

Personal loans are easy to get, especially if you have all the requirements. But you should also remember that you also have the responsibility to check whether you think you qualify for the loan. As much as possible, you want to make sure you keep all your financial scores are excellent so you can increase the likelihood of your credit being approved.

Making Passive Income From Running a Blog

earning from blogsA blog is a collection of written entries that are posted on a website. There are a variety of ways to keep a blog. Some use the medium like a personal diary to talk about their daily activities while others present information like a newspaper. The point of blogging is creating content for visitors to read.

Typically, blogging is a hobby, but it can also be used to make money.

Making Income from Blogging

The amount of money an individual can make from blogging varies widely. Many barely make enough money to cover the basic expenses of running the website, while others make $1 million or more. While there are no guarantees, there are numerous benefits to having a passive income stream.

The main factor to success is the amount of traffic coming into the website. If a person makes one to 10 cents per page view, it can add up to an extra $500 to $5,000 every 30 days. Results from a survey conducted by the Problogger site indicated that 10 percent of those with income blogs made no money at all, 53 percent made less than $100 monthly, 13 percent brought in $1,000, and four percent made five figures or more. This adds up to serious money.

Income Sources

Individuals can make a passive income directly by blogging and also by taking advantage of opportunities that come their way through the website. The following describes several approaches to setting up a steady money stream.

• Advertising. This is the most common method of making money from blogging. Display ads are used in the sidebar or as a banner at the top of the page to quickly catch the eyes of visitors. They can also be placed in emails and newsletters. Direct ads are paid for by companies that are seeking prominent placement on busy websites. Contextual ads are provided by a management company such as Adsense or Mediavine and are based on a cost-per-impression or a cost-per-click model.

• Brand partnerships. Bloggers with a large following are considered to be influencers, which companies and brands can associate with to their benefit. This association consists of mentions and referrals in blog posts along with clothing, gadgets and other promotional items.

• Sponsored posts. Also known as content marketing, this is a method of creating and sharing blog posts, videos and social media messages in order to improve a company’s influence and Google ranking. The businesses will often pay well to have their content posted on influential blogs. This can range from $50 to several thousand dollars.

• Affiliate marketing. This marketing approach involves the blogger recommending certain services and products on their site in exchange for a commission. Companies and brands know that popular bloggers have a loyal audience that trusts what they say and will check out products based on that alone. This costs the readers nothing and can be very lucrative for the business and the blogger.

• Selling products. One of the most straightforward ways to making money from a blog is through the sale of products. This can be for physical items such as clothing, books and jewelry or digital items like courses, premium content and memberships.

• Selling services. Being a blogger increases a person’s visibility and helps them to become an expert in their field or interest. This can lead to offering paid services like making speeches, being a coach or performing another skilled service. Being good at something will also encourage other people to make an investment in the blogger and the services being offered.

How to Start a Blog

Those with little to no experience running a blog should start with a hosted service like Blogger. Aside from being free, it also features beautiful templates and the ability to connect a custom domain. Setting up a self-hosted WordPress site is also an option. This requires buying hosting and a domain name, both of which are low cost to start out.

Making a Blog Successful

This is the hard part. A person cannot just put up random content on a blog and expect to be an overnight sensation, bringing in large amounts of money. It takes time and dedication to build readership, gain trust and to fully understand how to run a blog like a business. The following tips will help:

• Find a niche. Focusing on a specific passion will bring in the right audience and make it easier to target advertising later on. It is best to choose something that already has a strong interest to avoid getting lost in the crowd.

• Be consistent. Posting fresh content on a consistent basis will keep the readership and show that the blogger is dedicated to what they are doing. In addition, keeping content up to date improves the Google ranking for the blog.

• Promote content. A blogger can be the most amazing and interesting writer in the world, but it is a wasted effort if no one knows about the site. Networking with other bloggers and using social media to promote posts will quickly get the word out.

Is Blogging Worth the Effort?

The majority of blogs die before they are one year old. This happens mainly because the person did not want to put in the effort to build up readership and work toward passive income. Having a successful blog that makes money is hard work in the beginning that pays off well later on. It also depends on what the person is looking to get out of the experience. Whether it is to supplement an existing income or act as a standalone business, having a plan before starting out will help the blogger push past early discouragement and understand that it is all part of a process.

Another consideration is the relationships, both personal and professional, that are built through blogging. Someone with a family will gain the flexibility to spend more time with their spouse and children. These factors do not have a monetary value.

In today’s digital economy, a passive-income blog fits right in to most lifestyles and can provide a better quality of life for both the blogger and everyone around them.

Kelsey is the editor at LuxAuthority and is trying to balance both her budget and her credit card balance. She likes to live lavish and treat herself when the opportunity allows it. She loves the newest tech, old cars and the smell of rich mahogany and leather bound books as well!

4 Tips to Getting Commercial Property Finance for Investment

property financeCommercial property finance to buy a new commercial premises sounds simple but it may be far from easy. Lenders are diligent about who they lend to, and for commercial property, the process can be a bit difficult to go through. There are, however, some things that you can do in order to get the commercial property loan that you need.

The process can become less problematic and painful when you follow these tips and it will also help you get a better deal from the loan.

1. Have a Corporate Structure Diagram Handy

Commercial borrowers have many complex corporate structures. The specifics of these structures may include superannuation funds that are self-managed, a trust in the name of one’s family, associated businesses, special property vehicles, and so on.

This structural diagram is crucial if you are to get the commercial property loan that you are after. If this diagram is not clear and presented in a way that the lender is able to comprehend, it may reduce your chances of getting the commercial loan you want. If it is filled with inaccuracies, it will further confuse the lender and reduce your chances to acquire the loan.

Your business structure, once understood by the lender, allows them to expedite the loan approval and shave off weeks from approval time. They’ll know why you’re a good candidate to get the loan from the start.

2. Get the Documents Ready

Before you apply for a commercial property loan, it is crucial that you get all the relevant document and “proofs” gathered so that you are able to get friendly terms for the loan (and the loan itself) approved in a shorter time frame. Make sure that the documentation is all up-to-date.

Typically, what lenders would ask for are your most recent financial statements. That includes a statement of financial position (assets and liabilities statement), income and equity statement and more. Other than that, they’ll need copies of your sales contracts and leases, outgoings statements, tax return papers, rentals schedule as well as your bank statements.

They need all of this documentation in good quality so that they can assess whether they should give the loan to you. When you have done your homework and prepared these things well in advance, it shows professionalism and you will be able to get a commercial property loan for your chosen premises. stamfordcapital.com.au can help you get the right lenders for a commercial property.

3. Value the Property Right

If you are trying to get a loan against your commercial property, you need to be able to show the correct value for your property. Make sure that you are not overstating it otherwise you may be considered “highly unprofessional” by the lenders. You may not get the commercial property you’re after.

4. A Property Strategy

The lender wants to see what your strategy regarding the property loan is. Do you want it for investment purposes, so that you can expand, and if so, what are the specifics of the plan? The lender will be willing to give the loan when there is an expected outcome clearly presented in front of them regarding the utilization of the loan they give you.

Long Term Investment Options

long term investmentsInterested in investing for the long term? Can’t figure out a suitable option? Your primary aim is to get a decent return on your investments. Risks do exist in the financial world, which you can mitigate by diversifying your portfolio and combing the available options together.

The time period associated with long term investments is around 7 years or greater. Generally, you are on the lookout for return rates averaging to 8 % to 8.5%. High risks are expected for some of the options, but are usually acceptable because the returns are also worthy.

Before proceeding ahead, educate yourself on the various options available, and accordingly make a decision. Let’s walk you through the best choices for long term investments in Australia.

Savings Account

A savings account offers an interest rate of only 1% to 3%, but is still utilised by many Australians, simply because it is risk-free. You deposit a certain amount from your income monthly, over which interest is compounded.
You can open up a savings account with any bank of your choice, and can manage it through the offered app.

Bonds

Bonds are type of a loan, issued by the government and companies in an attempt to raise money. Investors lend an amount to the issuer of the bond for a certain time period during which they receive a return regularly. The return rates associated with bonds are higher than savings accounts.

Gold

Gold is a popular long term investment option, especially for those looking to diversify their portfolios. Gold always tends to maintain its values and cannot default unlike fiat currencies, which makes it a suitable investment option when economic disturbances and fluctuations are prevalent in the financial market. In such scenarios, gold responds differently compared to other assets, which helps you mitigate risks.

Investment advisors at goldbullionaustralia.com.au suggest that gold should ideally take up around 10% or more of your investment portfolio, but there can be variations. Once the value increases and you start realising returns, you can sell gold through simple processes to generate a profit.

Shares

If you invest in shares, it means you are a partial owner of the company. Your wealth grows when share prices increase and when you’re paid dividends. Shares are a risky investment option, and so it can be hard to figure out the ones that would maximise returns.

Property

Buying and selling property is a common investment strategy in Australia. You get money from the profits earned on the sale or as a regular income, if you rent out the unit or land. Property investment has become riskier these days, but you can address them through numerous ways.

Term Deposits

Terms deposits are god way to accomplish your long term saving goals. You put your money into a term deposit, which is then tied down for a certain period. Choose any suitable period from between 1 year and 5 years, keeping in mind that you won’t be able to make any withdrawals during this time. You earn an interest during this period, and aren’t allowed to make any withdrawals.

So which of these options have you already invested in? Do let us know what works best for you.

Top 5 Tips for Buying High Yield London Luxury Property

luxury real estate propertyThe time is actually right and perfect for the primary buyers. Since 2007, as per the mortgage lenders council news, first, buyers have achieved the high ranking. Offcourse, as per the recent surveys did, the primary buyer is still facing some ups and downs when it comes to the buying of the property. According to MyVoucherCodes.co.uk poll, primary buyers relied on their current banks for lending instead of finding a mortgage deal in the market. The following tips are beneficial if you are new to buying a property and all ifs and about would be answered.

1. The 95% mortgage with unbelievable deals and rates for the first time buyers, you have to be realistic by thinking above the deposit to save some. There are lots of hidden costs included in buying a new property in London, such as surveying fees, solicitors, removal man and also you are eligible for paying new home stamp duty fee. Stamp duty is active in UK sand depends solely on the property price, in the UK the cost is around £125,000 and above.

2. There are many people involved in the property buying with whom you have to deal other than mortgage worker. The first one is the real estate agent and the second is the one that helps you in sale process- solicitors. You should contact a local solicitor if you are moving to a new area such as to north from London. The local solicitor is more informed about the local area, developments, and issues and can help you accordingly. They can give you in in-depth property information that makes the buying easy for you. If you are moving to north eats, contact the local solicitor of the new castle. Always go for the mouth of mouth, such recommendations are quite helpful in getting the right person for the right job.

3. People get trapped in mortgaged because of the knowledge gap according to the research of MyVoucherCodes. Always do your homework before accepting any mortgage, it can please you but might ruin you completely. You should evaluate its worth in the coming years and make sure whether it’s the best for you or no. Increase your knowledge about mortgages and know the difference between a variable, fixed and tracker before you make a final decision.

4. When you are done with a search of your dream house, make sure about its freehold or leasehold. Freehold homes and flats mean you own the property but not the land on which it is built. You can face a difficult situation in future when you are planning to sell the property, as you might inquire service charges subject to the lease length time.

5. At last, once you got your dream house, your next search is for furniture and other essential things. You must have some in hand if not then try gumtree, freecycle and eBay to get bargain items rather then getting financial stress. That’s human nature when we have a new house we want everything to be new. But in reality this is not possible every time, always fill the house with essential things first and then move on.