Monthly Archive: September 2019

Financially united couple, stay together

Marriage is a life decision that brings with it many implications: sharing dreams, activities, projects, responsibilities and as if that were not enough to share money. The magic of falling in love, emotion and enthusiasm to start this new stage leads spouses to believe that the only things to share are feelings and thus exclude financial compatibility from their list of requirements.

We mistakenly believe that money does not matter when two people love each other, but reality shows us that financial conflicts are one of the main causes of divorce: lying about wages, recharging financial obligations in one person, considering money as A symbol of power in addition to disagreements in investment and saving can make the most special blessing a true torment.

 

Family finances have a cycle that no couple should ignore

Family finances have a cycle that no couple should ignore

In the first place we find the accumulation of capital that is nothing other than that moment in which the couple begins to build their assets basically merging income, savings and the occasional extra income.
The second part of this cycle includes an increase in capital because it is at this stage where couples decide to share expenses and incur in purchases of common goods: house, car, farm, etc.
Once there is a growth in family assets, there is a need to preserve the built capital and with this the appearance of the third phase.

 

Finally, the new family faces the fourth and final stage

Finally, the new family faces the fourth and final stage

The Transfer of Capital, which is undoubtedly the litmus test for financial compatibility because this is where the pros and cons of saving or investing money are evaluated and obtained A consensus between the parties.
In order to overcome these four stages of the financial life cycle of marriage, it is important that you and your partner take these recommendations into account before you say yes:

 

Detect common financial objectives

Detect common financial objectives

Your partner will be your most important financial partner, for this reason the goals and dreams you wish to achieve must be compatible.

 

Save together

Creating a culture of savings will help them protect the capital they have built. It is essential that the money saved allows them to achieve their short, medium and long term objectives as well as to create a contingency fund that allows them to be prepared for any economic crisis.

 

Be honest with your financial situation

Be honest with your financial situation

Trust is key in a couple. Try to be clear when talking about your income, your investments and your debts. This will identify common priorities and prevent them from getting involved in unnecessary misunderstandings.

 

Align in Investments

It is important to know how risky your partner is in financial matters. If you are one of those who invest in volatile shares and your partner prefers to do so in real estate, be careful! If the money to be invested is part of the family assets, it is favorable that they make a joint decision in this regard.

 

Make a distribution of responsibilities

Align in Investments

The distribution of family expenses must be clearly defined. Ideally, share expenses and avoid dividing them so that neither party feels disadvantaged.

Loans – Facts and price comparison for those who want to borrow USD 7,000.

For those who want to borrow USD 7,000, there are two options. One is to take a small private loan and the other is a micro loan of the slightly larger model. Here we will look at these two options a little closer.

Consumer Lending

cash

The big banks usually start lending money in the form of private loans from about USD 20,000. However, there are a number of smaller lenders that lend out much smaller amounts. It is thus one of these that you can aim for. Something that you must then keep in mind is that all lenders who lend from, say, USD 5,000 will not have loans of USD 7,000 in their range. This is because they only lend at intervals of USD 5,000. But there are some lending institutions that lend out as little as USD 1,000 in the form of private loans where you can easily get a loan of just USD 7,000. However, they are not very many.

You can then repay the debt for a longer period

You can then repay the debt for a longer period

The big advantage of a private loan is that you can then repay the debt for a longer period. A regular private loan never has a maturity of less than 1 year and this can normally be up to about 5 years. Thus, the monthly cost will not be as high as for a micro loan. But one thing to watch out for is that it often actually becomes more expensive overall to borrow in this way. Even if the interest rate is lower, you pay it significantly more times, which leads to a higher total price.

Microloans

Microloans

The second alternative is a micro loan of USD 7,000. It is still not common for lenders to lend such large sums in the form of micro loans, but more and more people are always offering this. What distinguishes a micro loan of USD 7,000 against the early ones of up to USD 3,000 is that you normally do not repay the loan in only 30 days. Here, instead, the loan must be paid in 2-3 months. Still a heavy repayment per month but not as high as for a shorter loan.

The advantage of a micro loan is that the money will come into the account faster. Then it is also quite possible that it will be cheaper overall. However, this is not something that should be taken for granted why it is very important to compare the different lenders before making a decision. The big disadvantage then is that the loan should be repaid as quickly as compared to a private loan.

We advise on lenders

We advise on lenders

Below you will find a list of the lenders dealing with micro-loans that we have on this site that lends USD 7,000. You can quickly see which ones are the cheapest for this particular loan amount. You can find a more detailed comparison in our large comparison of micro loans of USD 7,000. If it is a private loan you are looking for, the tip is that you visit our department where we compare private loans.

Different ways to compare micro loans – Payday Loans

One thing there is no doubt about is that it pays to compare different lenders before applying for an SMS loan. But how different pages compare can of course vary and there doesn’t have to be anything wrong with that.

How a comparison on a page like this is arranged

money cash

Is largely determined by the technical knowledge and the type of person who made it. We who run Will Ladislaw belong to that category of people who like a lot of info. Therefore, we have put our comparisons everywhere here on the site according to different amounts so that visitors can see what it will cost and so on.

But there are other solutions such as at bestasnabblån.se where you have chosen a much simpler comparison. Instead, they have chosen to focus quite a lot on how much they can borrow for free and a rating on the lenders. Ratings of a kind that we do not have here on the site, for example. Then, of course, there are lots of other sites that compare SMS loans and many of these have something good to offer you who are thinking about borrowing money.

The type of comparison you want as a visitor varies, of course

The type of comparison you want as a visitor varies, of course

If you want to find something fast maybe our site is not the best but my example fits much better. What matters most is that you really compare lenders before anything else is done.

For very large differences it can be and it also does not have to be the same lenders who are cheapest at SEK 10,000 if they are cheapest at SEK 2,000. An example of how big a difference it can be is that the difference between the cheapest and most expensive lender offering SEK 7,000 over 60 days is over SEK 1,000. Then we talk about exactly the same type of loan in general, only the price differs.

 

The savings revolution in your home

We know. We are in the middle of summer, a holiday season par excellence, and talking about saving is complicated. However, we believe that saving is important. And even if you are not going to start right now, knowing what the 50/20/30 method is, will encourage you to do so.

The 50/20/30 savings method consists in distributing your income as follows: 50% to cover your basic expenses, 20% for savings and 30% for your personal expenses. As simple as this. Thus, knowing the monthly budget available for both expenses and savings, it is easier to meet. By respecting it month by month and seeing how your savings grow, you will feel more motivated and unintentionally, you will be acquiring a good saving habit.

This saving technique is increasingly common and a strategy to start building an emergency fund. That is, that mattress to throw in the face of possible unforeseen events without having to borrow money from your relatives or resort to external financing.

 

Implement the 50/20/30 method

On other occasions, we have talked to you about different savings methods, such as the 4% rule , the 52-week challenge or the Kekeba , among others. The 50/20/30 is another one of them. Neither better nor worse. One more with which to save once and for all.

The key to success is to put it into practice as copper. That is, distribute your income as follows:

50% for your basic expenses

basic expenses

By basic expenses we understand, the mortgage or the rent, the light, the water, internet, telephones, community expenses, shopping cart, transport, loans … That is, those expenses that you have to face every month, Yes or yes.

 

20% to save

piggy bank

To be able to respect this percentage it is important that you separate the corresponding amount from your usual expenses to avoid falling into temptation. Enter it in an account other than your usual checking account.

Imagine that you have implemented the 50/20/30 method and have been doing it for a few months. If you see that the percentage for basic expenses you have money left over, do not spend it. Destine it to this other game and experience in first person the satisfaction of seeing how, little by little, your efforts bear fruit.

 

30% for personal expenses

30% for personal expenses

It is important that you know that these expenses are, in many cases, totally expendable. However, they are the ones that make us enjoy life. Go shopping, go out to dinner, have a drink, travel, treat yourself, buy gifts … Not every month, necessarily, you will have to spend 30 percent of your income on this game. Whatever about you, add it to savings.

Let’s look at it with an example. Suppose you have a monthly income of € 1,500. The distribution, based on this saving method, would be:

  • Basic expenses (50%) = € 750
  • Savings (20%) = € 300
  • Personal expenses (30%) = € 450

 

What do you think, do you see yourself able to do it? If your answer is yes and you are a client of the Cara Rural Group, we encourage you to download the urbanvia report application . An app that will allow you to manage and control your income and expenses easily, quickly and safely.

In a very intuitive way, you will have, at a first glance, the distribution of your income with respect to your expenses with graphics and in a detailed way how your income and expenses have evolved in recent months.

Saving is not easy, we are aware, but it is never too late to do so. We assure you that there is no greater satisfaction than to see how your savings grow.