Category: Loans

Everyone who’s set out on a course of study with only student loans to support them knows that it can be tricky to make ends meet when there’s only a few hundred pounds handed out to you to live on. Any student can take out a loan from the National Student Loans Company, run by the Government, to help them with their day to day living expenses. But banks are usually very reluctant to offer loans to students, because (unlike their parents or older borrowers), students do not usually have collateral to put up ‘against’ a loan. Luckily, there is an alternative loan type which often works for students. Unsecured loans, available from many locations on the high street and on the web, can provide the type of large cash advance that many students need to cover unexpected expenses such as a new outfit for an interview, holiday bookings, or replacement of a broken appliance or gadget.

Unsecured loans are at their most useful for people who, like students, have a regular source of income (in the case of university students, the loans made to them by the Government), but do not hold any property, such as a house, business, stocks and shares or a car, which they can use as ‘security.’ ‘Security’ on a loan refers to an item of property owned by the borrower, which becomes the property of the lender if the loan is not repaid in accordance with the schedule drawn out in the contract.

Borrowing a loan without security, then, seems very attractive to many people, as there’s no danger of losing a piece of property if the loan is not repaid. However, the lenders of these types of loan have to get money from their activities, and so there is an alternative pitfall which borrowers must be aware of. Unsecured loans are usually charged at a far higher rate of interest than secured loans. This is fine with a short-term cash advance (one which is paid back within a few days or weeks), and most students utilise this form of loan because they have a date, set by the Student Loans Company, when they will receive a lump sum with which to pay the loan back. However, those who don’t have a definite source of income may find their interest payments becoming unmanageable. This kind of loan should always be treated with care.

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Isn’t it irritating the way the summer holidays always disrupt one’s careful budgeting?  People who have been planning their finances carefully all year are tempted by offers of sun-soaked beach resorts and flights to faraway places.  When flights, hotels and spending money are all factored in, a summer holiday can double or triple our outgoings for a given month.  For those who find themselves in real difficulties, Cash Genie is here to offer short term payday loans to tide you over.  You may not end up needing this, though, if you read the following money saving travel advice from Cash Genie.

If you want to find cheap flights, timing is of the essence.  Unlike package holidays, it is worth looking for flights as far in advance as possible.  Because business travellers will pay high fares at the last minute, airlines will only increase them as time goes on.  The budget airlines will tend to offer the cheapest flights, but it is important to be aware of any ‘extras’ they charge.  If you are aware of the charge for extra carry-on luggage or boarding card printing, you can avoid those little extras that can end up adding significant extras to your flight costs.

It may be that looking for cheap flights is not the best way to get the top deal on your holiday.  If you are going away for a week or 14 days to a traditional holiday destination, then package holidays can be very cost-effective.  Package holidays bring other advantages too.  The tour operator provides flights, connections and accommodation for one price, leaving you with little to worry about.  Most of the package operators are ATOL protected, so you are more likely to be protected if the company goes bust or something goes wrong.  If you do choose a package holiday, you will find better deals if you can leave booking as late as possible, but this will deprive you of some choice.  Because tour operators have chartered the planes and reserved the hotel rooms, companies who have not sold all their holidays will need to shift them at the last minute to avoid losing money.

Hopefully, if you take this Cash Genie advice and plan your holiday carefully, you will not need an extra loan to deal with the cost of your summer holiday.  Saving money in this context is all about knowing what best meets your needs.

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Cash Genie is an online lending company that adheres to particular rules when it comes to deciding whether to grant applicants money or not. Their decisions are based on a few straightforward principles, which means that it’s relatively easy to guess whether your application will go through or not. Aside from that, there are a few points to remember, since what you make of the opportunity in the long term is more up to you than any number of rules and guidelines can dictate.

Informal lending can have a bad reputation – loan sharks and other dishonest lenders charging enormous rates of interest, keeping no paperwork (or withholding the paperwork from you) and ensuring that you never really know when you’re out of debt. In fact, the purpose of these people is not to keep you out of debt: it’s to keep you in it, always repaying interest but never fully paying off the loan. The saying is apt – you can fleece a sheep many times, but only skin it once. The best companies, on and offline, should function on the principle that they should be trying to make themselves obsolete to each customer: their service is temporary, intended to get the client through a short-term problem – not to keep them in long-term poverty through permanent and unnecessary repayments.

That’s why Cash Genie lend only for one month. There are no hidden fees: the rates are 30 percent for the length of the loan. It might seem expensive, but that’s it. It’s a kind of one-off flat-fee, and the arrangement is supposed to end after that. The idea is to get you out of trouble and ideally keep you there, rather than saddling you with repayments that go on and on for years. The purpose of the loan is to give you the breathing space to look at your finances properly, understanding where you went wrong and putting some measures in place to make sure that you don’t need to keep coming back to instant loan approval companies again in the future (and, incidentally, it is almost instant – the decision is made within minutes or even seconds, everything is automatically checked, and the company uses specially designed software to make sure that you are getting the correct amount of money – not more than you need, which is bad practice on both your parts, but not less either).

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

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After finishing university, I moved out of my parents’ house pretty quickly, as I was keen to maintain the independence I had gained there.  Sometimes, though, it was quite a struggle to keep up my rent payments when I was still feeling the strain of student debt.  Last May I became quite anxious because I just did not know how I was going to pay my rent.  It was so frustrating because I knew that as soon as my next payday came I would be okay.  I started looking for a short term loan.  All I neededwas a cash advance that would see me through until I next got paid.  Luckily, I found a company called Cash Genie who were able to give me instant loan approval and transfer the money into my account really quickly.

I was able to borrow between £75 and £750 – I was quite glad that the amount wasn’t higher as I knew I would have been tempted to take out a bigger loan, which I might not have been able to pay off as easily.  The application was fairly simple, as the only conditions I needed to fulfil were being over 18, employed, and earning over £500 per month.  These small loans are for people who do not have access to mainstream credit.  I could have applied for a credit card, but I was concerned that as I was struggling with money a bit, I could end up with a huge credit card bill that I wouldn’t be able to pay back.

The company stressed that they are a short term solution.  Indeed, you can only borrow from them for a 30 day period.  The speed was certainly a good thing for me though, as the instant loan approval was just what I needed.  After the money was transferred to my account, I paid my rent immediately so I knew how much money I had left, and then worked out a careful budget for what I would be able to spend until my next payday, when I would have to pay back my loan.

I definitely think that for me, a short term loan was a better option than getting a credit card, which would probably have left me in bigger amounts of debt.  The ease of getting a cash advance to last me through until my next payday made things really easy, and I didn’t have to fill in lots of forms.  And getting instant loan approval really gave me peace of mind, and saved my relationship with my landlord.

Please visit http://www.cashgenieloans.co.uk/ for further information about this topic.

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Cash Genie offers short-term loans of any amount from £75-£750 that can be paid into your account on the same day. Hopefully you won’t have the cash flow difficulties that mean you need a short term loan, but it happens to most of us from time to time, and occasionally the fastest and simplest solution to the problem is the best one, because it can give you peace of mind and enable you to concentrate on what really matters in life.

Especially now, in challenging economic times, people who never expected to experience money difficulties are feeling short of cash. Cash Genie is able, and always happy to help, but also always recommends responsible lending and borrowing. Some people these days are having to live on smaller budgets, which means taking into consideration various saving techniques that they are not used to. They have grown accustomed to a certain lifestyle, with the luxury of not having to think too much about what brand of pasta to buy, for example. Now, though, it would be advisable to consider things like this.

Keeping precise accounts of your income and expenditure is the first step to avoiding money problems in the future. We often neglect to keep and file receipts for things we absent-mindedly buy, and believe me – they can add up! At the end of the month, when the bank statement arrives, we realise we had entirely forgotten about them, and in these circumstances it feels like losing money, even though it is truthfully money we deliberately spent. Keeping track of receipts helps to encourage good money saving habits, and it makes you really appreciate what you do buy. In turn, it helps to curb casual spending, and, for example, we will be more likely to ask ourselves if we really want to get this £4 sandwich at a petrol station, or whether we could just wait until we get home and make a much nicer sandwich for free. Of course, the ingredients used for the sandwich are not free, and this is another thing worth considering: are we getting value for money on our food? It is nice to have good quality, but sometimes it seems we are just paying for nice packaging.

At Cash Genie they recognise the value of sensible budgeting. They also recognise, however, that sometimes things don’t go according to plan, and a short term remedy can help tide us over until we get back on track.

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