Finances can sometimes be a very troubling thing; they can seem so complex and so hard to figure out, that sometimes people think that the best thing to do is to ignore them – rather than do something about them. People in this position can run a high risk of getting themselves into debt that is out of control. Loans for things that they don’t need, credit card debt that they don’t pay off; people with these types of debt can often struggle to make it back above water.
However, there are some useful online tools here in New Zealand that can help you begin a process that can speed up the process getting out of the debt. A website called www.sorted.org.nz can be a wonderful resource for creating a strategy for starting to get out of debt. The website has a bunch of calculators that are easy to use and understand. They are put into three categories:
“Think ahead” is the first set of calculators that help you plan ahead with your money, so that you are not living beyond your means. This is an important first step before you can begin trying to reduce any debt that you may have.
“Shrink your debt” is the next set of calculators. It works to collate all your debt and help you with a plan to get rid of it. It takes into account all sorts of debt, from mortgages and student loans to credit card and cash loan debt.
“Grow your savings” is the final set of calculators and it works off the back of the first two. You have got a plan for your money, your debt is shrinking and now you can focus on growing your savings.
This three step process on sorting your finances is something that a lot of NZ payday loan companies recommend doing before you look into taking out a loan. Good reputable Kiwi companies like Payday Loan care for their community and don’t want to see anyone get further into debt by not being smart when borrowing money.
If you do have your finances in order, but something unexpected comes up, which we could possibly help with, please do not hesitate to talk to us today to see how we can help you out of your short-term cash emergency.
- Are there any online tools to help me sort my finances out?
- September 4, 2013
Not only do you need specific bits of information about yourself to be able to get a payday loan, you also need to be informed about what happens with your information and if it is safe when taking out a loan online.
When taking out a payday loan, most companies will require some information about you to decide whether or not they will approve your application. Most companies will require you to provide proof of identity. This could be a copy of your driver’s licence or your New Zealand passport; or your overseas passport with a residency sticker or a 2 year work visa. You will more than likely need to email or fax a copy of them through. Then, you will need to provide proof that you have a regular income. For this, you will probably need your last few bank statements with your address and name on them. These will also need to be faxed or emailed in. So, in addition to gathering this information, you should probably find access to a scanner or fax machine, if you don’t have one already.
More important than the information you need to gather, is the information you put into the website. You will need to put in information like your name, address, phone number and email address. All this information is very personal and very important, so it is paramount that you make sure the company you choose is looking after that information for you. You can make sure that your information is kept safe by checking a few things online.
- What information do I need in order to get a payday loan?
- August 23, 2013
Using the Internet has its own set of risks, when it comes to taking about a payday loan. One of these risks is fake companies posing as real businesses. This is a real risk, as there are many scams out there who prey on innocent people that are not educated in how to spot if a site is safe or not.
Before you apply for any kind of payday loan online, you are going to want to check a few different things to make sure that the site is legitimate and safe to use.
One of the easily identifiable signs of a company who doesn’t have your best interests at heart, is a company that approaches you without your consent. They may email you out of the blue telling you about a special offer or discount that they may have (without you having previously supplied your contact details). They may also call you at home saying similar things. If this happens, it is a clear way of telling that the company is not safe and secure.
When you do go online to a fast and easy cash loan site, there are certain things that the site should have that will let you know if the company is real, and beyond that, if the company is reputable. The first thing you can check is simple: the contact details should be under a ‘Contact us’ tab, and they should have a phone number and physical address. You can check those details by calling the number and looking up the address. If something doesn’t check out, then it is more than likely a sign that the company is not legitimate.
If you are satisfied that the contact details are all in order, then the next thing you can check is that the website encryption is working on the application page. While this may seem very daunting and out of your depth, it is actually very easy to do. Go to the application page where the company asks you to enter your personal details, and click on the lock sign on the left of the website address, where it says “https”. It will open a window with more information on the website’s security certificate.
Once all of these criteria have been satisfied by your thorough research, you can go ahead and start the application process for the loan. However, remember that before applying for a loan it is recommended that you go through a budgeting service to see if a loan is actually what is needed.
- How do I tell if online loan companies are real?
- August 6, 2013
Once upon a time, if you had a few cash flow issues, you could head down to your local bank, speak with the manager about the issues you were having, and they could work something out for you.
Nowadays, the bank manager often has no real power, and it is easier for the banks to pretend like you don’t exist, than lend you a helping hand, that is unless you are asking for something upwards of $5,000.
On average, for a bank to issue a one-year loan of about $3,000, it can cost them around $400, and so it is easy to see why they would pretend you are a phantom when you come asking for a few hundred dollars to make it through the week.
Because of this, it is easy to see why short term loans like pawning are taking off.
With the emergence of the fast small payday loan as a major player in the money lending world, there has been a lot of concern about the ways that these types of companies operate, whether they have the best interest of the borrowers at heart of it they are just trying to take advantage of people in an already bad situation.
This argument is a fair criticism, especially of the pawn loan industry. Customers in financial need put their possessions up as collateral for the loan, they get them back after they have paid the loan (if they can pay it off), the fees and the interest which can be very difficult for some in a worrying financial position.
Don’t put your possessions at risk and consider applying for a small cash payday loan instead – if used responsibly, such loans can be a convenient and fast way of getting extra cash until next pay check arrives without having to risk your assets.
Here in New Zealand, any financial provider has to be registered and is therefore bound under the Credit Contracts and Consumer Finance Act that helps to protect borrowers from unsavoury lenders. The Act stops lenders from having any hidden fees or rates; everything you have to pay has to be spelled out in plain English on your loan contract. The Act also stops companies from charging oppressive fees or interest rates and gives the borrower an opt-out period of a few days after they have signed the contract.
Borrowing money from these institutions in New Zealand can be a very safe process, and as long as you read everything in the contract and are happy with what it says, then you should be able to get a loan that suits your needs. You can apply for a payday loan here.
- Pawn shop loans are booming, but do you want to put your possessions at risk?
- July 31, 2013
Decorate the kids’ room together.
– Create storage for the countless amount of toys your kids probably have – you could try ideas like covering unwanted boxes in wrapping paper and letting the children draw on them. Or, if you are aiming for a more sophisticated look, find fabric you love and stick it on the boxes using glue – just make sure you don’t use super glue.
– If your kids are not very creative, there has to be something they have made in school or at home that can be easily framed and hung on the wall. Personalising their personal or common space with such creations can add creative flair to your home and also make the young artist super proud.
– Consider creating an art corner. You can easily use your table to keep art supplies lined up in containers and within easy reach. Clean and reuse small jars and boxes to hold art tools. You can also paint or wrap ribbons around these holders for a more decorative touch.
Make your own play dough, salt dough ornaments, window ornaments, bath bombs, fridge magnets, flower press, terrarium / fairy garden, beaded jewellery, crystal/bead wire trees, bird houses, build outdoor huts, pick shells to make hanging mobiles, collect leaves to press them, the list is endless!
Go for a walk.
Explore your local area or city landmarks. There are so many beautiful places in New Zealand to explore for free; for example, if you live in Auckland, you could visit One Tree Hill & Cornwall Park, Mt Eden, Mt Victoria, Auckand Domain, Albert Park, etc.
Aotea Square Ice Rink.
If you are based in Auckland, the Aotea Square Ice Rink’s fun-filled programme includes ice skating lessons, skating demonstrations, snow sculpture-making, competitions and themed weekends. The cover charge for adults is $20; $15 for kids. There are also free events available not only on school holidays, but throughout the whole year – have a look here for more information or Google free events in your town.
Go to your local market.
Attend your local Saturday/Sunday market with the little ones for some entertainment, home-made sweets and low cost international cuisine treats. They also often offer fun activities for kids, such as face painting and puppet shows!
Sources: Wise Bread, KidSpot.
- School holidays activities that won’t leave you out of pocket
- July 17, 2013
Winter is already here in full, chilly swing, and the temperatures keep dropping during the day and at night. We have collected a few useful tips from numerous sources that should, hopefully, help you keep warm and dry.
Keep yourself warm and cozy
Buy an electric blanket – from $18 for a single bed sized blanket at homeware shops, such as Briscoes or The Warehouse. Typically, an electric blanket will use about 150-200W, so if you have it on for a bit just before you get in bed, it should only cost you a few cents a day.
Cuddle up! Body heat is a very inexpensive and potent source of warmth. Fuzzy little (or big) pet friends also make wonderful snuggle buddies. And don’t forget a soft blanket!
Have a warm meal or drink. A cup of soup or a mug of hot cocoa can warm your entire body, even when the air is chilly. Spicy foods are especially potent for heating things up. It’s also a well-known fact that we tend to eat more in winter as we need more calories to help keep us warm, so don’t feel guilty about that extra meal!
Have lots of blankets handy on the couch in the living room and in bedrooms. Bundling up in blankets may help you stay warm without having to spend money heating your entire house.
Get physical. Exercise, even if it’s just running in place. Breaking a sweat should bring up your body temperature, and you may find yourself needing to cool down, even though your home isn’t even that warm!
Keep your house warm…
Only heat the room that you are in. Try and keep the temperature at 21 degrees in living rooms, especially if you have babies, kids, sick people, or older people living in your home.
Up to 20% of heating can be lost through draughts: block unused chimneys and put draught stoppers under doors.
Open windows and curtains on sunny days to let the sunlight and warmth in, and close them when the sun goes down to trap heat in your home. Trim any trees that prevent sun entering your house, if you can.
Purchase a dehumidifier. According to www.consumer.org.nz, a dehumidifier only costs around $1.15-$2.30 a day to run and is a very effective way of keeping the excess moisture away.
Try not to dry clothes indoors as this creates moisture in the air. Drying on the outside is free and the sunlight kills some bacteria, making your clothes healthier for you and your family. Use a shed or garage if it is raining.
To reduce moisture caused by steam, always open a window when you are showering and when you are cooking on the stove top. Use pot lids to reduce the amount of steam escaping. Keep doors to bedrooms closed at these times as steam can make beds damp.
If you must use a clothes dryer, make sure your clothes are properly spun first, and leave windows open while you are using it – or even better, vent it outside.
We all know that expenses tend to increase in winter, and if you have been hit by an unexpected bill and you only have limited funds until you get paid next, consider talking to us about our payday cash in a flash service.
Sources: Community Energy, Yahoo Voices, MSD and Stuff.
- Keeping warm on a budget this winter
- June 27, 2013
Credit cards can be a dangerous type of unsecured loan, they are fairly easy to get and sometimes have unforgiving interest rates attached to them. A lot of people overlook the pitfalls and only see the convenience and ease available to you when owning a credit card. In New Zealand this has led to a massive amount of credit card debt and a lot of people struggling to get out of it.
According to NerdWallet.com, average credit card debt in the US is $15,216! Closer to home, the total outstanding credit card balance was $5,630,000,000 as of May 2013.
Those are situations where credit card debt has become too much to handle may consider the following tips to help get themselves out of credit card debt.
The first and certainly most obvious thing to do, when trying to bring down your credit card debt, is to reduce and then cut out additional charges to the card. It seems like an utter no brainer, but it is something that people fail to do when they lack conviction to get their debt down. If you are lacking conviction in stopping spending on your card, then ask someone you know to cut up or better yet, hide your cards from you. They will still be available for an emergency, but you won’t be able to use them on a daily basis. Just remember not to take it out on your friend when you get the itch to buy something.
Transferring your existing balances to a low interest credit card can sometimes be a good idea to save money on interest. Then, you can start paying off all loans from smallest to biggest. This may seem silly, since mathematically you will save more money paying off the biggest loans first, but this tip isn’t based on maths. The psychological advantage to getting rid of loans is a great boost to your ultimate goal of being debt free.
Finally, and probably the last resort way to bring down your debt, is to look for extra employment. If you are already allocating every cent of your pay check and your debt just isn’t going away, then it might be time to look for an extra job. It isn’t ideal, especially if you have a family, but just remember that it isn’t forever, and once you are debt free, it will probably be worth it.
Having unsecured credit card debt is never a good feeling. If you feel like getting your debt down by yourself is going to be a struggle, then there are services here in New Zealand that may be able to help you. Websites like sorted.org.nz and familybudgeting.org.nz are fantastic resources for you to get yourself out from under the burden of credit card debt.
- Tips for getting out of credit card debt
- June 22, 2013
Payday advance loans are probably the smallest type of unsecured loan out there. You can get between $100 and $1,000 from your typical online lender that will need to be repaid within about a 30 day period. This makes it the smallest type of unsecured loan not only in value, but in duration too.
A payday loan exists to fill a gap in the lending system. Most places, whether it is a bank or a finance company, will require a certain level of credit-worthiness for customers to take out a loan and will only lend substantial amounts of money over a long period of time. It is when that emergency strikes, that these people will go for a payday loan to borrow just a couple hundreds of dollars for a few days or weeks, until their next payday comes.
In New Zealand, registered lenders are quite regulated in order to secure safety for borrowers. They are bound by the Credit Contracts and Consumer Finance Act as well as the Privacy Act; they are also required to be a member of the FDR, or Financial Disputes Resolution scheme. On top of what is imposed on them by the Government, reputable companies will have their own Responsible Lender policy which will set down parameters for who can and can’t borrow money from them. It will normally include things like not lending to anyone without a job that pays a certain weekly amount, and not lending to those on benefits or those who are bankrupt.
The advantage to this type of unsecured loan over a credit card or a larger personal loan is they are quick and easy. If you need money quickly, then a credit card or personal loan may take too long, if you can get one at all. A payday loan is normally in your account the same or following day as an application is made, and repaid within a few days or weeks.
Payday loans are an unsecured loan that is there to fill a certain gap. It isn’t going to fit everyone, but for some people it may well just be the perfect fit.
- Payday Loans in New Zealand
- June 19, 2013