Saving Money Archives

Home credit or doorstep lending

When you are in dire straights, you may feel as though you have no options available to you. Often, people let the stress of financial strain cloud their judgement. You need to make sure that you are safe when it comes to your finances. The last thing you need is to add more debt to your problems, yet many people make the mistake of doing so.

With a broad variety of lending options out there, how can you possibly know which one will suit you? You may have heard of home credit or doorstep loans and thought that they seemed like great ideas. Sure, these loans are easily accessible and quick to get. Until you know the facts, though, you will have no idea what agreement you are making. You need to make sure that you have the means to pay back your loan in a quick manner. If you can’t find the money to do so, you could cause yourself more worries than you need.

What is home credit?

Home credit (or doorstep loans, as many people call them) is a form of loan that is available to almost anybody. Much of the time, these loans are for a small sum of money. Your lender can visit you at home and ask you for your repayments. Many people find this aspect of the loan massively intimidating. Before you get a loan of this nature, you need to make sure that you can afford the repayments. Often, the interest on these loans will be extremely high. After all, the lender needs to make a profit from even the smallest of amounts.

Why do people use these loans?

When people need cash to cover a short-term finance problem, they often turn to independent lenders. Borrowing money from these lenders is convenient, and much of the time, they don’t ask many questions when you take out the loan. That in itself should serve as a warning sign. If a lender does not care about your finances, it means that they don’t care about whether you can afford the repayments. It is thus up to you to make an informed decision about whether the loan is right for you. Remember, you should always avoid taking out loans that you can’t afford.

Interest rates

Before you take out a loan, you need to know what you will need to pay by way of interest. Interest rates for doorstep loans tend to fluctuate a great deal. It is best that you find out the details of your particular interest rate before you do anything else. That way, you can be sure that you will have the cash ready when you need it. As we mentioned earlier, the interest rates will be rather high when you opt for this style of loan. In this instance, you pay for the convenience of getting a loan as quickly as possible. The interest rates on these loans are much like payday loan rates – they are at least 1000% APR if not more.

Is the lender legitimate?

Before you borrow money, you need to know whether the lender is legitimate. Legitimate lender will have a professional website and contact details that can be easily confirmed.  A very good example of online-loans lender is

Ways you can Save Money in College

Just as every other college is different, every student is different. The only common experience for most students is the constant shortage of finances during their college years. Care packages from home are less frequent and it seems like every other time you confirm your account the balance gets smaller at a very high rate. To avoid insufficient money to spend when in college, you should learn how to budget and save the little you have to stay away from hefty debts.

Finances become an issue, especially if you do not have any experience in budgeting and saving. Keep in mind that money does not grow on trees and things do not get any cheaper therefore manage your cash well. Below we will look at some ways on how to save money in college:

Learn to Save Everyday and Remain Cool

Life on campus comes with many temptations for the naive student. You can blow through your spending without even realizing how fast it is going on a number of ways. Nevertheless, there are many ways to save your money while in the campus without denying yourself the adventures and fun moments that college has to offer.

Food Expenses

Meals are a big offender because they can put a huge dent on your funds in college. Certainly, you will have to eat, but if you cultivate a little discipline on your food budget, then you can save large sums of money. In this case, consider the following tips which will help you manage your food expenses when in college.

  1. Come up with a weekly food budget that you will stick to the whole week.
  2. Take college meals if you have paid for them instead of purchasing more food.
  3. Completely cut off unnecessary restaurant spending habits. This can seriously compromise your food budget.
  4. Avoid taking alcoholic drinks in bars and restaurants. The cost of night outs will strain you financially and this will cause serious implications on your overall budget. Otherwise, make sure you allot a sufficient amount of funds for this category in your weekly food budget.
  5. Eliminate daily smoothies, coffee drinks, and other treats. These treats are costly and a regular habit could add up quite fast therefore taking a very large chunk of your funds. Alternatively, you can buy a cheap blender or coffee maker and make your own drinks since it is a cheaper option.

Food is an essential requirement, but with some little budgeting and planning, it is possible for you to save a lot of money. As you are strict with your studies, be as strict with your food spending and you will avoid writing home for emergency funds.

Smart Saves on College Expenses

Necessities take up quite a large fraction of your fund. Tuition, fees, books, furniture, clothing, lab fees add up fast, thus leaving you with a small amount of cash to spend on entertainment and food. While these costs cannot be avoided, we have better ways to manage them and eventually save some money. The following tips will be of help:

  1. Buy used textbooks when possible. The cost of textbooks can be despicable, but used books can even cost half the prices of new ones. By so doing, you could stretch your funds a little more.
  2. Set up a college savings plan and make the most out of the funds you save.
  3. Pursue scholarships if possible, even beyond your first college year. Grants and scholarships help a great deal in reducing the overall cost of your college education. Also, in addition to applying for traditional scholarships, checking out weird scholarships might offer easier wins as the competition is generally lower for many. Remember that most of the scholarships are renewable.
  4. Once you are done with your textbooks, sell them to the campus bookstore or try selling them online. Either way you will recoup some money by passing your used textbooks on.
  5. Get a part time job where you can work on your leisure time.

In conclusion, it is possible to save money in college so long as you know how to plan your funds. Always analyze your monthly expenses and plan on how to cut back. Maintaining a budget is not as straight forward as you think and it calls for a lot of discipline to do so. On the other hand, reduce all unnecessary expenses and by so doing you will realize your funds stretching further than you may think. Be sure to visit for more blog posts on this topic.

The Advantages and Disadvantages of Ride Sharing

Car sharing services have taken off exponentially the world over in the past few years, with options ranging from ZipCar to RelayRides. These operate in slightly different ways. Some, like Uber or Lyft, work by allowing motorists to drive other passengers around the city for an informal taxi ride. Others, like RelayRides, allow car owners to rent out their car to other motorists. Finally, services like ZipCar allow motorists in cities to gain access to a private car when and where they need it, such as running errands. With the cost of car ownership so high, services like these can be quite appealing as alternatives to making a purchase. Yet there are advantages and disadvantages to consider first.


One of the primary benefits of using ride sharing services is that you save the cost of car ownership. You don’t have to worry about your car being stolen or broken into, or pay the cost of car insurance and fuel each month. For those who don’t drive too often, it makes sense to only pay for a car when they need it. Ride sharing services are also popular among people who are interested in reducing their impact on the environment. Carpooling leads to fewer cars on the road, which equals fewer carbon emissions.

Families may be drawn to ride sharing services to avoid the cost of a second car. Saving that second car payment leaves families with more money to put towards retirement or a down payment for a house. At the same time, if someone wants to run errands and the primary family car is in use, they can simply hire a ride share vehicle for that big grocery trip or to attend a meeting on time.


While there are many benefits associated with ride sharing services, there are also a few issues to consider. For those interested in renting out their vehicle using RelayRides or a similar service, liability can be an issue. If there’s an accident in your car, you may be held liable for it. You may need to take out additional insurance to cover this possibility. Another disadvantage is that there’s no guarantee you will be able to find a car when you need one. It can be hard to find available ride share vehicles on rainy days or during rush hour, for example. It’s harder to make spontaneous trips using ride share services like ZipCar. Instead, you need to plan ahead a little bit to make use of this type of service. If no cars are available, you may be stuck with a high taxi fee.

Overall, there are numerous advantages to ride sharing as well as a few drawbacks. If you’re dedicated to a greener lifestyle but still want to have instant access to a car for regular use, you could look at electric options like this Holden Volt at Carsales. On the other hand, if you’re only an occasional driver and live in an urban area, a ride sharing service may be the perfect solution.

Teaching Responsible Finances

Teaching our youth about responsible personal finances is an absolute must.  After all, these youngsters will be the ones running the world when we are old and retired.  Not to mention we want the best for our children, so teaching them right from wrong only makes sense.  Unfortunately, when many adults teach their children about proper morality, they often leave out the part about leading a financially responsible lifestyle.  This means that they should live within their means, pay their taxes, work at their job, spend less money than they earn, and be mindful of their finances.  For me, the most basic aspect of leading a financially sound life begins with opening your first bank account.  There are even bank accounts geared toward children now.  As a parent, you can easily compare bank accounts online and find the right one for your child to begin saving.

Parents often don’t understand the importance of the lesson they are teaching when they setup their child’s very first bank account.  This is what taught me the value of saving, and the dangers of spending.  It was fun to earn money and watch my balance grow.  Then when it came time to leave home and go to college, I at least had a little money saved to help get them through those four tumultuous years without having to work full time.  The pain and suffering of saving a little money here and there is much easier than the pain that comes with needing money and not having any available.  There are many options for basic bank accounts so finding one should come with no excuses.

Sit down with you kids today and have them read some reputable finance blogs (even this one if you choose), investing sites, and brokerage sites.  Financial literacy and education is at our very finger tips, and the average consumer can find just about any piece of information they want within minutes.  Who knows, you may be preparing your child to be the next Chairman of the Federal Reserve, or a Wall Street powerbroker, or even a public accountant that will end up doing your taxes a few years down the road. Years from now when your children are leaving college debt free, purchasing their first new car, or putting a down payment on their first home, they will be eager to thank you for instilling financial responsibility and the value of saving a dollar so early in life.

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