Tag: medical loans

Categories
Short Term Loans

5 Benefits Of Short Term Loans

benefits of short term loans
benefits of short term loans

Taking a loan isn’t proof that you aren’t administrating your finances well or that you aren’t earning enough money to support your family. A loan is a great method that offers you a way out of a problem! In this article, we discuss the benefits of short term loans.

A short-term loan solves the issue immediately and without all the fuss that comes with larger loans. If you need the money to pay for medical expenses, house reparations or an unplanned trip visit to your family, that’s what short term loans are all about!

5 benefits of getting short term loans

They are manageable!

You can take a $500 loan and that’s it! Small loans were made to fix urgent matters, so take advantage of them! Short term loans won’t keep you up at night thinking how you’re going to manage interest rates and any other additional fees.

Unlike large loans that pose problems and can disrupt your finances, a small loan will help you out. Not being able to make payments on time and worrying about a bad credit score won’t be an issue when you deal with such short-term loans.

Online application

This is one of the biggest benefits of short-term loans. You can fill out a form on the Internet and wait for the money. Skip the road to the bank office and staying in line for hours. This type of loan comes with an online application that will only take you a few minutes of your time while doing it in the comfort of your own home.

Access the funding fast

Skipping the fuss that comes with larger loans also means getting the money faster! This is actually the exact purpose of short-term loans. They have been created for urgent matters that can’t be planned ahead. In just a couple of hours, you can receive the money and sort out your financial difficulties! It’s that simple!

You can customise your payment plan

You can borrow only the money you need, considering that a short-term loan doesn’t come with a fixed sum of money. If you think you’ll be able to pay it back in 3 months, settle a 3-month payment plan. If a 5-month plan sounds better, go with that option. A customisable payment plan allows you to get back on your feet without worrying that you won’t be able to repay the sum in the given period. You choose what’s best for you.

Dealing with a short term loan is easier

Taking a loan isn’t always a burden, especially if you borrow a small amount. Repaying a small loan in a couple of months can be entirely possible for your budget. So, you’ll be able to get out of your financial difficulty, and you won’t have any debts.

Short term loans are a great option to quickly get you back on track- that is of course if you don’t have significant debt. Of course with any loan it is important to take precaution. If you have any questions about short terms loans, read 5 questions to ask when applying for short term loans.

Categories
Financial Planning

Financial Planning For New Families

financial planning for new families

Making the decision to start a family is both exciting and daunting. There’s so much to think about in terms of caring for a whole new little person in your lives, as well as setting yourselves up financially to ensure you can take the time off work you need and meet all the expenses that come with bringing a baby into your family.

Many couples put off starting a family until they are financially stable. But this idea of being financially comfortable is different for everyone, and for some, it would mean putting off a family for years and years, which isn’t always ideal. Here are some ways you can plan for a new baby and see whether you are ready to take the leap.

What Is Family Financial Planning?

  • The idea is simple. It’s about taking a look at where you stand financially, and seeing how things might change once you have a baby together. Here are some things to look at:
  • How much time you or your partner might take off work once the baby is here.
  • What your joint household income will drop to with this time off.
  • Cost of big-ticket items for the baby, such as car seat, pram, etc.
  • Cost of daycare once you do go back to work and how this affects your bring home pay.
  • Cost of weekly expenses, such as nappies, wipes, formula, that need to be factored into the new family budget.
  • What sort of pregnancy care you are looking at. Are you wanting to go private? Consider the cost of ultrasounds, obstetricians, etc.

How To Financially Prepare For Starting A Family

Here are some steps you can take to ensure you are in the best financial position possible when it comes to welcoming a new baby into your home:

Build Up Savings

This is often easier said than done. Simply start putting away a little bit each week into savings, no matter how small that amount is. You have to start somewhere. Over time, you may be able to increase this amount, but if not, at least you are putting something away.

Don’t Overspend

It is so easy to go just a little crazy with all the baby products out there, but it’s important to realise you don’t need the most expensive product each and every time. In fact, it’s worth jumping on Facebook marketplace and having a look at second-hand items on there. Lots of baby items only get used a handful of times and are in great condition to purchase second hand. You can save so much money on them as well.

Budget

Take a look at where you are right now and how much this might change when you bring a baby into the family. Factor in all these potential costs and look at how you might be able to make ends meet. Are there areas you can cut down on? Can you start cutting down on them before the baby comes?

Research Your Entitlements

Check out what money you may be entitled to either from your workplace, your partner’s workplace, or the Government. Many people aren’t aware of the benefits offered, such as maternity leave from both work and the government, paternity leave and family tax benefits that you may be eligible for. Look into all of these before you start your family, so you know what you can apply for, can do it straight away and factor this into your budgeting.

Prioritise Your Debts

If you have any outstanding debts you are in the process of paying back, prioritise these and reduce them as much as possible before the arrival of a new baby. In fact, preparing for a new baby is the perfect time to take a good look at all your finances and see that you are getting the best deal possible. Here are areas to consider:

  • Are you getting a good deal on your credit cards? Could you shop around and find better?
  • Are you getting the best deal on your phone contract? Do you research and see if there are better plans more suited to your needs?
  • Look into your insurances and check that you have the level cover you need.

Remember That Money Isn’t Everything

Welcoming a new addition into your family is an exciting time, so don’t let your finances overwhelm you. While there are plenty of things you can do to make sure you are in the best place financially, don’t forget to enjoy the time and every minute that comes with it. You will blink, and your kids will be moving out of home and starting families of their own!

Categories
Personal Loans Interest Rates

Why Patients in Debt Turn To Low Interest Rates When Applying for Loans

patients in debt

It’s definitely costly to be sick nowadays and patients in debt are particularly vulnerable. Despite the government’s efforts in promoting healthy workers, healthy eating and active living, illnesses still arise and more often than not people aren’t financially ready for it. No wonder many patients look for low interest rates loans when in need for financial security.

The No-Work-No-Pay Policy Scares A Lot Of People

Would you rather go to work than call in sick and risk losing your job in the process? Many people drag themselves into work while they are sick simply because they cannot afford to call in sick. If you are a casual or on a contract without sick pay benefits, you might be forced to report for work despite your doctor’s advice.

It’s not uncommon to hear stories of people suffering from injuries or illnesses to work through their discomforts so that they can still receive their wage. Some people don’t even bother applying for sick leave if they know their company is restructuring or cutting down on costs and firing employees.

Some people take a few days off but immediately return to work after using up their statutory sick pay, even though their doctors’ may advise them to take a longer break. This can actually harm your future health and mean you need to take more time off down the track.

Although the Australian law requires employers to give their employees’ sick leave benefits it is worth noting that the number of days covered may not be enough for a person to fully recover. That’s why some employees’ will come back to work earlier so that they can keep their job and receive their wages in full.

Many Self-Employed People Have No Comprehensive Medical Insurance

While Medicare, gives you access to free hospital treatment and subsidises your out-of-hospital medical treatment, you may still have to shoulder some out-of-pocket expenses if you need elective surgery. Some people still take out private health insurance products from top companies like Medibank, Australian Unity, HCF and the HBF. The most common health insurance coverage includes the following: Lifetime Health Cover, Medicare Levy Surcharge, and Private Health Insurance Rebate. But, there are times that the insurance coverage is not enough to foot the bill.

There are many things you need to pay for, and being sick doesn’t help at all. Patients in debt can save money by doing the following:

Groceries

Food takes up most of our money, with it being one of our basic necessities; we can’t really go without it, and so minimising the costs used for them might be the best option. If you’re used to eating out you should start cooking homemade food, not only is this cheaper, but it’s also healthier.

When buying groceries, you should make sure that they will last you an entire week without having to go back to the market again. Remember, this should turn out cheaper than eating out every day, so buy only the ingredients that you’ll need. If possible, look for discounts, or you could even look for some vouchers and/or coupons that might be lying around your home.

Transportation

Going to and from work can be such a hassle. Having your own vehicle might be more beneficial on your part because you can budget the money you use on fuel. However, as with everything in life there are other expenses attached to owning your own car; this is where public transport has the upper hand.

The key to budgeting your transportation expenses is to average your monthly expenses and then create a budget based off that figure.

Bottom Line For Patients in Debt

You need to pay your debts each month, and unless you find personal loans with low interests for patience in debt, it is difficult to keep up with your payments.

Bills might come knocking at your door on the 15th or the end of the month, so you should make sure that you have money set aside for them. Everyone has debts they have to pay. Do everything possible to pay on time and you’ll eliminate them in the near future. Australian Lending Centre offers loans with low interest rates that you can fall back on at troubled times. If you’re interested in applying for an affordable loan, make an enquiry today!