Financial Planning

Tips to Manage Financial Challenges

If you are in a difficult situation facing financial challenges, learning how to properly use loans, for bad credit applicants, can help.

Do you have a steady source of income which covers not only your needs but also your wants as well? If you’re one of the thousands of Australians who want secure finances but are also dealing with financial issues, you may be wondering how you can achieve that reality.

What Are Your Financial Challenges?

Like many individuals in serious debt, you are probably worried about trying to pay for your daily living expenses and outstanding debts, while wishing to buy a home, a car and probably take a vacation. If so, don’t ever think that you’re alone in this aspect. There are also many struggling parents who need to save for your children’s education while paying off debts and adults with elderly parents to support. And, things get worse when you are going through a divorce, dealing with a death in your family or probably looking for a substitute job for the one you recently lost.

The truth is that there are many events in life that test not only our ability to cope financially but to think positively and overcome these trials with a smile.

Use your financing options to manage these financial challenges

Learn how to take control of your finances, boost your borrowing power and secure a better financial life with the following tips:

Write down each of your goals

Are you really determined to pay off all your high-interest loans? Or do you just need to have a better credit rating so you can borrow even more? Sometimes, we don’t actually know what we want. We just keep on looking for solutions to our immediate problems without looking into their root cause.

For example, if you have $5,000 worth of debts, both in consumer credits and loans, do you trace back to the causes of those purchases? Or, do you simply skip the reflection aspect and look for better financing that could lower your interests so you can have more money to spend on your needs and wants?

While there is nothing wrong in looking for better deals, such as low-interest and easy to pay bad credit loans. Finding the root of the problem in your finances can help you make better decisions with regard to budgeting and balancing your sources of revenue.

Swap the present wants for future needs

Are you spending a few hundred dollars on things you can live without—such as a gym membership, magazine subscription and a trip to your favourite coffee shop? If so, think of how you could use the money to build wealth, like starting a retirement plan to secure your finances in later years.

The sooner you start saving for retirement, the more financially secure you can be when you finally stop working. These contributions are typically tax-deductible, so aside from getting a tax credit for starting a retirement plan, you can also grow your money faster because savings grow faster in a retirement plan as a result of tax-free compounding.  In the end, even small contributions can make a significant difference over time.

Diversify your investments

Do you know how to protect yourself against ignorance? Warren Buffet says that it is through ‘diversification’. Since you’re not really sure if an investment will appreciate over time, you should diversify your portfolio to ensure that your exposure to any individual asset is limited.

What are the asset classes that you currently hold?

Are you involved in alternative investments like real estate, or are you simply invested in stocks or bonds?

Instead of chasing performance for a single investment class why don’t you add a good mix of real estate, cash, bonds and stocks in your egg basket? This way, you can protect your financial portfolio from wreaking havoc when the market declines. If you put more than 15% of your money into a company’s stock, you may be heading for disaster. While you may not be thinking of the worst-case scenario, preparing for these things can help you when you lose your job and your other sources of income. Losing your investments as well, all at once is not an easy crash to bounce from.

Grow your wealth

One of the most important benefits of bad credit loans is that you can use it for wealth maximisation. Create a long-term investment strategy that requires adjustment in your personal budgeting and your appetite for risk. This helps to ensure that no major market glitch will pull your finances down. You never know what will happen tomorrow, but one thing is for sure… life goes on and with the right mindset and professional help, you can enjoy a comfortable and financially stable lifestyle.

Contact the Australian Lending Centre today and receive financial advice from our specialist loans team.

Debt Consolidation

Will Debt Consolidation Put an End to Your Financial Problems?

In recent years, debt consolidation has been discussed on all sides by people in debt. On one hand, it is seen as the perfect solution to dissolving debt quicker. On the other hand, it is regarded as something one should do only as a last resort. So can debt consolidation end financial problems?

The answer to this is both “Yes” and “No.” How is that possible? Well, we’ll see the reasons immediately. Financial tools are, most of the time, two-edged swords.

Whatever you do, not acquiring enough information can get you in serious trouble. Read this carefully in order to know what the deal with consolidation is.

Why “Yes”?

Debt consolidation can end your financial problems, but there’s a very important condition you must respect if you want to do that: you must correct your financial behaviour. You probably need consolidation because you’ve done some serious mistakes in the past.

As long as you don’t build up even more debt by defaulting on your consolidation loan or by missing on monthly repayments (again), your problems will eventually diminish, then disappear completely. In this circumstance, yes, a consolidation loan can be very helpful.

A consolidation loan does not solve anything by magic. Most people take this type of loan for all the wrong reasons. Misinformation can be blamed for this. High expectations without the contribution of actual behavioural changes in respect with spending recklessly are also to blame.


Why “No”?

There are many cases in which consolidating the debt is simply not the recommended thing to do. For instance: when it does not come with lower interest rates than those you are already paying, it’s obviously not much of a relief.

Moreover, as we’ve mentioned, debt consolidation is not a magical formula you simply recite and your debt clears out by itself. Another important aspect why debt consolidation is dangerous is that it’s often secured on one of your assets.

In other words, you can easily lose your house if you don’t pay the consolidation loan. You can clearly see that a consolidation loan can get you in more debt quicker than it can get you out of the existing one. This is not a very pleasant prospect, is it?

Why is Debt Consolidation a Double-Edged Sword?

The problem with many financial tools is that the clients don’t really understand how they work. Of course, not everyone works with money, and the more the client knows about the financial service he/she is getting, the bigger the chances for him/her to use it advantageously.

When it comes to debt consolidation, it is important to know that your debt will still exist in the near future. It will not go away instantly. However, it can be transformed into a more approachable one, financially speaking. You can get a lower interest rate and a lower monthly pay, depending on the lender you sign with.

While it is a popular method among those who have financial problems, you still need to ask an expert about all the advantages and disadvantages. A debt consolidation service might look excellent on paper, but in reality, it can double your financial problems, even if you read the document twice.

Also, check the market before jumping on the first contract. When it comes to financial services, you will need to get the one that gives you the biggest advantage, especially if you have financial problems.


You should also look out for shady lenders. Whenever a client accepts a financial service, the lender gains some profit. However, some lenders will present you a service that may look great on paper, but you will never be able to pay it back on time or in full.

That’s when you will start losing money fast; you’ll lose your car, your house or other assets. So, be careful with these lenders. A debt consolidation offer where your debts magically disappear is most often than not a scam. It is in your interest to get informed.

Concluding Remarks

Debt consolidation makes sense. Not all the time, but it does. If you approach it thinking that your debt will be gotten rid of overnight, you are just lying to yourself.

The most important thing about this type of loan is that it is not worth it if it does not offer lower interest rates and possibly a tailored repayment schedule.

And of course, it’s of no help if you continue to indulge in the same behaviour that got you indebted in the first place. Hopefully, your consolidation loan will indeed help you pay off your debt sooner, but you must be willing to discipline yourself.

You can read more on the subject on, as well as receive advice from professionals in the field.

Financial Planning

How Quick Loans Can Help You Take Control Of Your Finances

If debt is a pervasive part of your life, and every now and then you are looking for quick loans, you are not alone. But, don’t you know that you can find your way back to a stable financial ground with good planning and a little bit of work? Learn how quick loans can help you take control of your finances.

People are in debt because…

There are many reasons why people get into debt. Some simply had to use it to deal with bad circumstances such as illness, accidents, divorce, and other financial setbacks; while others simply lack financial management skills and budgeting strategies.

Current stats on Australian debt:

Federal Reserve research shows that Australian households have a total of $2 trillion unconsolidated household debt. But, despite the increasing financial obligations, consumer spending in Australia increased to 23.8 AUD Million from July to September 2016. It is roughly a million higher than the 23.7 AUD Million consumers spending in the second quarter of the same year. These results could mean that household debt and consumer debt are increasing, as more people are willing to apply for loans, credit cards and mortgages.

So, how do you prevent debts from cutting into your paychecks? Well, you can increase your income, practice money-management tips and use quick loans to cover your immediate financial needs while working on it.

Strategies to help you take control of your finances

Make a workable budget that you can stick to:

You can start by jotting down your most urgent expenses and the overall cost of all other things you will use the money for.

  • Prioritize spending. You may be surprised that the thing you think you need most, is not even worth it.
  • Don’t forget to write down even the frivolous purchases
  • Keep track of your daily expenses, such as fare, coffee, food and other necessities
  • Check for alternatives. Can you pack lunch instead of buying take-out meals?
  • Set your financial goals. There’s a huge difference between financial dreams and financial goals. A dream is what you hope for, while a goal is something you planned to achieve. You plan it to make it happen. You don’t dream about it and allow things to flow in its natural course. Financial goals require action. You take an active part in its realization.

Create a list of the following:

  • Things you want to accomplish
  • The resources you will use to achieve them
  • Time frame
  • Cost
  • Action plan. Make sure that your plan will work considering your budget.
  • Repay your quick loans on time. When does the repayment date start? Include the date in your action plan. When you have a deadline to beat, you will have enough motivation to make yourself productive until it happens.

Do you need quick loans now? Where will you spend it on? Whatever is your reason in applying for a loan, the Australian Lending Centre is here to help you. If we helped thousands of Australians deal with their financial troubles, why can’t we do it for you? Call us now!

Financial Planning

How Can Financial Distress Impact Your Health

The stress caused by the economic downturns and financial shortcomings can literally make you sick. This is quite logical. In the recent global economic downturn, many evidences were recorded linking financial distress to various health conditions. That link is not surprising.

In 2005, a research was conducted in the US to identify possible health implications of financial distress. That study explored specific health effects that are often and logically associated with financial problems. It surveyed random individuals from across the country.

The results showed that there are various perceived possible effects of financial stress on both physical and mental health. Financial problems and poor health are associated. Stress is the main health impact of job loss, piling debts, loan defaults, and budget shortages. From there, many other health conditions can possibly ensue.