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Debt Management

3 Money Sinkers that You Should Avoid this 2017

Money sinkers are things or activities that can pull down you finances. Basically, all of us have money sinkers. Whether this is a hobby or a subscription, a money sinker won’t help you in the grand scheme of your success. This 2017, there are some money sinkers that you must avoid if you want to be successful in few years. By starting today, you can take full control of your financial journey.


Fancy Eat-Outs

Eating fancily is not bad every now and then. After all, you gotta reward yourself more. However, once this is becoming a persistent habit, you need to cut down or your finances will suffer. Rather than eat overpriced meals in a restaurant, why not prepare your own meals?

This is healthier and you can select your own ingredients. You should also limit visiting cafes and save your money for other things instead. That money you sank for a Frappuccino could’ve saved you one trip in the bus. Someday, once you are already prosperous, you’d get the chance to buy the fancy meals you want.


Low-Value Novelty Collections

People love to collect stuff. From the world’s popular markets, you can buy novelty collections and put them in your room. Admire them for few minutes or hours, then move on with life. Over time, these low-value items will collect dust and won’t generate any ROI.

Worst, they will just take storage space. If you like collecting, you should go for items that have inherent high value – reasonably. These items can be sold someday and you can possibly gain huge profits. Also, if you have many financial problems as of the moment, buying collectible items should be crossed off from your activity list.


Mobile Games

Mobile games can help alleviate boredom and pass away time. Some studies have even indicated that several mobile games can improve your coordination and focus. But when you find yourself sinking money for IAP (In-app purchases), then something must be done. Is the virtual item worth your real-life cash? It’s not bad to purchase one item from time to time, but you should monitor your habit. There are other important things at hand.


Do you think these money sinkers have affected you in the past months? Well, it’s not yet too late to make a change. Focus on your future so that you won’t spend your money and time for unnecessary distractions. You and your family will be more than thankful in the future.

Debt Management

3 Methods that Lenders Use to Entice You

Lenders are business entities – no amount of twists, turns, and dramas can change that. For many years, lenders used different subtle techniques to entice many borrowers. Nowadays, such techniques improved with the prevalence of the Internet and a hodgepodge of psychological tricks. In a snap, a borrower might think that the licensed money lender is his best friend.

Do you want to know how most lenders can entice you? Read on.


Storytelling Runs

Storytelling has always been a part of the global lending industry. Through stories, connections between lenders and borrowers are established. There are many ways to tell stories. The lender may use inspirational social media posts or proper content curation. Storytelling runs can occur many times per week, depending on the marketing strategy of the lender.


Short and Insightful Video Marketing

Aside from written stories, videos are also used by lenders for active marketing. They may create heartwarming videos about the day to day life of borrowers or something that shows cultural values. At times, lenders may create insightful video guides that can help borrowers learn more about loans and financial responsibility. The videos may combine animation and real-life scenarios in order to create an astounding effect. With the use of online video makers, licensed moneylenders singapore can save money on creating their videos.


Online and In-Store Events

Events are essential in triggering the reward mechanism among borrowers. Once the borrowers realize that they’d be rewarded, they will follow the parameters set by the lenders. For online events, lenders may rely on social media contests driven by likes and shares. Facebook and Twitter are rigged with such contests and there are winners drawn every day. In-store events are more expensive but they’re targeted well. These events rely on word of mouth to become successful. Once the events reach other people, many borrowers will visit the lending shop and file their applications. This means more transactions for the lender.

Some in-store events typically include small contests that will require participation from borrowers. If the lending company is huge and successful, it may launch large-scale events such as musical performances. This can even pull more borrowers in a greater speed.


More often than not, big lenders usually combine all three methods to gather the attention of borrowers. Such strategies are useful, even if you’re expecting them. If you think you are enticed by a lender, step back and rethink. Do your research so you’d know if the lender can be trusted or not.

Debt Management

3 Reasons Why You Should Avoid Bank Loans

Bank loans have served many people around the world. Despite the high interest and strictness of banks, many borrowers still rely on them for financial support. Banks typically respond with more products and services to offer. However, bank loans are not meant for everyone. If you need money fast, a bank loan is not reliable. Instead, you should try seeking out online lenders.


These are the 3 reasons why you should avoid bank loans:


Bank Loans Have High Interest

Typical bank loans or ocbc credit cards have high interests when compared to online quick cash lenders. This is due to the fact that banks are always managing their risks. If you need a big loan, for example, the bank will assess your interest based on your lifestyle, credit rating, and income sources. Commonly, bank-issued secured loans have variable interest that’s about five times higher than the regular personal loan. To deal with this, banks have launched low-interest unsecured loans favored by many borrowers. Still, bank-issued unsecured loans have slightly higher rates.



The Bank Has Complete Power

Once you’ve applied for a bank loan, the bank will have full control over the loan’s specifics. The bank is officially sanctioned to change rates accordingly. This can be disadvantageous for borrowers who are operating on a tight financial rein – yet business is still business. The bank can also dictate the repayment terms and make alterations based on global economic forecasts. Online lenders have different systems. While they can still change interest, online lenders have greater consideration. They usually warn borrowers about an incoming change. Other types of lenders such as local community lenders don’t change rates because of competition and empathy for borrowers.


Banks are Relentless in Collections

Next to vicious payday loan lenders, banks are relentless in pursuing what borrowers owe. They may resort to stressful legal methods or send collection agents every day. While banks may accept your reason, they will slap penalties against your account. This will leave you trapped in a greater debt. Not all banks operate like this, but they will do everything to get what is due.


Even though you must avoid bank loans, you should know that not all of them are bad. Some bank loans are usually beneficial if you already have a desirable credit status. In that case, the bank deduces that you’re a good payer. The bank now becomes your ‘friend’ and will start offering loans with wonderful terms. So, work on your credit rating first!

Debt Management

3 Alternative Uses for a 24-Hour Quick Loan

Getting into financial trouble is something that you shouldn’t be ashamed about – unless it’s a recurring habit. In a situation like that, you need an immediate solution. Every day that you wait, the problem becomes difficult to solve. On solution that can help you is a 24-hour quick loan. Just like its namesake, this type of loan can give you money within 24 hours or less.


Aside from using the quick loan to settle a financial dilemma, there are other interesting alternatives.


Start a Side Hustle

In today’s expense-friendly society, it’s beneficial to have a side hustle. There are hundreds of side hustles that you can start immediately. You can try selling DIY items or taking out freelancing gigs from numerous platforms. Another popular option is to string together a host of different online activities and churn out continuous profit juice. If your side hustle is successful, you can repay your loan and have extra cash for savings.


Secure an Investment

Aside from increasing your source of income, you should try securing an investment. Recently, the investment arena has become more diverse, allowing more investors to enter the game. You can start with paper assets like bonds, treasuries, and mutual funds. If you have a knack for risk, you should try stocks and commodities. Are you a techie? Well, you can choose virtual currencies like Bitcoin and Litecoin. Collectibles are even great investments because their value keeps on increasing.


Fund Special Occasions

What if you were so busy that you actually forgot about a special event? All hell may break loose! In that case, a 24-hour quick loan can be handy. Around the world, hundreds of special occasions pushed through successfully with the help of quick cash loans. Most of these events are birthdays, anniversaries, eat-outs, corporate parties, simple gathering sessions, and kick-off parties. A well-placed loan can even put you in a positive light because people will view you as the ‘savior of the event.’ To ensure that you can have emergency cards to play, you must have a list of the most reliable lenders in your area. Pick those lenders who will offer you fair rates and repayment terms. It’s even better if your area has designated trusted lender.


Do you think these alternative options matter a lot to you? Analyze them properly and make a mental note about them. If you’re ready, simply visit an online lender and start applying for a 24-hour quick loan!


3 Online Assets that Can Beat Inflation

Inflation is something that we cannot avoid. You can think of it as a consequence of a rapidly growing human society. Every year, inflation is increasing and there seems to be no permanent solution. However, times have changed; around the world, many people are finding ways to beat inflation and lead a satisfying life. One of the best strategies that you can apply today is to secure online assets.


But what kind of online assets should you secure? Here are some ideas:


High-ROI Website

In the cyberspace, websites are considered assets. While you can set up any website in just minutes, it’ll take months or years to create a high-ROI site. Once you’ve done this properly, the site can bring you hundreds, if not thousands, in revenue. The site’s lifeblood is its web traffic, so you still need to do the legwork of content creation, marketing, and SEO. In the future, you can keep the website or sell it for immediate profits.



Cryptocurrencies are also great online or virtual assets that you can keep. These digital currencies are running on Blockchain – a complex platform that conducts a wide range of transactions for all users. It’s an AI, so human intervention is totally limited. Some of the most popular cryptocurrencies are Bitcoin, Ethereum, Dogecoin, and Litecoin. To secure any form of Cryptocurrency, you need a digital wallet.


This will act as personal storage of your Cryptocurrency units. The best thing about Cryptocurrency is its trade value in the digital market. You can use it to pay for services or trade it for real money to be deposited in your bank account. Around the world, Cryptocurrency is gradually gaining acceptance.


Digital Products

Digital products are eBooks, courses, infographics, white papers, case studies, and virtually anything that can be availed online. Making digital products take anywhere from 48 hours to few weeks, depending on complexity. Based on several online studies, digital products appeal to many people who are always looking for solutions. There are also tons of niches to choose from, so you may be overwhelmed. To avoid this, you must create a long-term plan. Digital products are even better than physical products because they can be replicated easily.


Finding an online asset is relatively easy, but you need to look for the right one. This asset should give you maximum returns so that you can pay for your debts and acquire enough savings. Think of your online assets as nest eggs that can solidify your future.

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