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3,664,292 babies were born in the United States in 2021 alone. If you’re about to start the journey into motherhood, know that you don’t have to go it alone.
Millions of women across the country are dealing with or have dealt with the challenges of motherhood. And they have excellent advice and tips on the best products for new moms to make your experience easier.
Starting a new business means a lot of expenses. Rent, employees, stocks, just to name a few of the expenses that every new business faces on a daily basis. Sometimes, it’s hard to make ends meet. That’s why loans are there to help you cover those extra expenses that would otherwise be impossible to afford every month. They help you address specific needs and find ways how to support financially your business. After all, there’s isn’t a business that doesn’t need a little extra money.
There are different loans according to the sum of money and the conditions. It’s very important to estimate the capacity of your business company to deliver reimbursement on time and pay the whole amount of money in the given period of time. Banks and other financial institutions offer a variety of loans under different financial conditions. Check out the regulation before you decide on which loan suits your business the best. Here is a list of loans most popular among business companies nowadays.
Personal Loans
Personal loans are the most convenient method to receive the funds that you need. The money that you borrow from a lender you need to return them back, and you pay an interest rate for a given period of time as mentioned in the bank contract. You can use the money from a personal loan for whatever your needs are. For example, you can pay off credit card debt with a personal loan.
The benefits of personal loans are numerous, especially when want to pay off the debt for a longer period of time. To qualify for a personal loan, borrowers need to fulfill several criteria, like credit report, credit score, and debt-to-income ratio. You need to take all of these things into consideration and discuss them with your bank to find out whether your current financial situation allows you to receive a persona loan. To receive the lowest rates for credit, you need to have an excellent credit score, among other things as well.
Term Loans
Term loans, also known as long-term loans, are the most common loans nowadays. Business owners looking for high funding shouldn’t look elsewhere. They aren’t very appropriate for recently opened businesses because lenders want to make sure that you have a clear track record. Applying for a term loan takes a longer time than for other loans. Once the application is accepted, borrowers need to pay a principal amount. Afterward, what follows is the regular monthly payment of the principal amount plus the interest rate according to the contract’s conditions.
Short-term Loans
When you’re in a hurry for fast cash, a short term loan is the solution to your problem. Unlike the term loans, they don’t need a track history to be eligible to apply for a short-term loan. They don’t include loads of paperwork and long processing procedures. In fact, you neither need to have a great credit score, nor there is a need to wait a long time to receive your payment. Whether you want to expand your business or recover from the financial crisis, short-term loans are the answer to your problem.
However, paying a short-term loan must be made for a short amount of time. Unlike the term loans, you need to repay the whole amount of money for the time specified in the contract. Payment schedules may be weekly or monthly, while usually repaying the loan amount is no longer than two years. You need to look elsewhere for financing when the loan amount is not enough for financing your business.
For more of our great articles, read these:
How Often Should You Review Your Budget?
How Much Income Do You Need To Afford A Million Dollar House?
There is no doubt that your finances can have a hefty toll on your mental health and vice versa. I have been talking to more people about their money for the blog and just to make talking about finance a norm with friends and family. While discussing personal finance with them, I’ve noticed something many people aren’t talking about: the correlation between shopping addiction and bankruptcy.
On an even broader note, many people don’t seem to notice the correlation between mental health and finance either. But don’t be fooled. Both addiction and mental health can have a profound impact on your financial situation and leave you stuck.
I know a few individuals who have filed for bankruptcy. That is absolutely terrifying to me, but for many people who have filed, it doesn’t seem to phase them a bit. In fact, almost all of them have open, recurring debts for things they don’t really need. Programs like Afterpay and Klarna have only exacerbated this issue.
Even though they have filed for bankruptcy, which means they are holding much more debt than they could ever pay off for the foreseeable future. This has to be proven with documentation and, even then, you still may have to forfeit assets and pay off debts for another five years before they are erased.
However, filing for bankruptcy is doing nothing for the impulse control disorder that leads to compulsive shopping. For individuals with these control problems, bankruptcy offers them a clean slate to shop even more with new credit.
While it is not formally recognized as a mental condition, shopping addiction is a real problem for many people. Luckily, it is manageable with therapy and direction from professionals. You may have a shopping addiction if any of the following applies to you…
If you find yourself agreeing with more of these than not, you may want to seek help in getting your spending habits under control. You can also attend anonymous groups for addiction that allow you to connect with others who have gone through similar situations. Once you have a handle on how to change your habits, create a plan to move forward with paying off your debts.
This will ensure you break the cycle of shopping addiction and bankruptcy.
Shopping addiction isn’t the only mental health issue impacting personal finance either. Addiction in general can have a wicked effect on a person’s finances. Additionally, mental health conditions, such as depression, anxiety, and cognitive disorders can also have a serious impact on the way you spend, save, and accrue debt.
In general, poor mental health can make it extremely difficult to manage and even earn money. Then, once you realize your finances are not in order, your anxiety about your money will just increase. Things can quickly start to seem overwhelming, even impossible.
All of these things can be helped, can be treated, and need to be talked about. The problem is, many people want to skate around the issues with bandaids or temporary fixes. That is why this week I’m asking why is no one talking about shopping addiction and bankruptcy?
Talk about money, debt, mental health, and hard issues with your close friends and family. Removing the stigma around these topics can help everyone heal and do better.
As always, if you or a loved one is suffering from substance abuse, addiction, or mental health issues, call the National Mental Health Hotline at 1-800-662-HELP (4357). They can help direct you to professionals that can better assist in dealing with the problem at hand.
A lot of people spent time reflecting on last year and setting fantastic goals for 2023. While we didn’t set any hardcore New Year’s resolutions this year, many people still did. The biggest triumph of all though is being able to stick to your plans and reach those goals throughout the year. Below are a few tips on how to keep up with your resolutions (even when you lose steam).
First and foremost, it is key to set reasonable goals for yourself. If your aspirations are too lofty, you may wind up running out of enthusiasm early on. Instead, focus on more obtainable, smaller goals that will help you reach the longer-term aspirations that you may have.
When setting personal goals, it is important to have a “big picture” in mind. For instance, if you are setting a debt payoff goal for the year, think about all of your financial goals, not just your debt freedom. If you want to invest, save money, and buy a home, be sure to include those things in your planning too. Be sure you are setting reasonable goals for yourself within the grand scheme of things.
Another thing many people suggest is setting SMART Goals for yourself. We discussed SMART Goals on the blog a while back, you can read more about them here. SMART Goals can help you hone in on the specifics of what you’d like to accomplish, when, and how.
If you find you have trouble trying to keep up with your resolutions, you’re not alone. A lot of people abandon those dreams by the end of January (seriously). However, there are a few tips you can consider to help better set you up for success.
Last but not least, pick a change you actually want to make. Many people spend time trying to reach goals they don’t truly desire. For example, people strive to live healthier lives and at the beginning of each year commit to exercising every day. That isn’t something most people want to do. Instead, you can find ways to live a healthier lifestyle (i.e. make time for outdoor activities and eat better).
No matter what, it is important not to lose faith in your goals and aspirations. Everything takes time, especially when it comes to lifelong goals. Be patient with yourself.
If you’re hard-up for cash, guaranteed money never sounds like a bad thing. However, many creditors use the word guaranteed to lure you into an agreement that will put your farther in debt for a longer period of time. Here are a few reasons you should probably steer clear of guaranteed installment loans for bad credit.
Not everyone is guaranteed to be approved for the money they need. If you have bad credit and are unable to get loans elsewhere, there is probably a reason why. Anyone guaranteeing you a loan should be approached with caution.
It is also important to keep in mind that even though a company says it can guarantee you a loan with bad credit it may not be able to finance the amount you need. For instance, if you need $5,000 desperately for some type of emergency but they were only able to finance you for $1,000, that wouldn’t be very helpful. You’d only get a portion of what you needed and wind up paying a ton in interest.
Oh, yeah. Most installment loans for folks with bad credit are extremely high-interest. In many cases, they have more than 26% interest. This makes them practically impossible to pay off. You’ll also have another item on your credit report for up to six years, depending on how long it takes you to pay off.
Lastly, companies offering up guaranteed installment loans aren’t interested in your financial well-being. If they are guaranteeing anyone money it means they are not interested in your ability to pay it back. The last thing any of us needs is a collection account hanging over our head.
Most people who are looking for installment loans and have bad credit don’t have great money habits, to begin with. That doesn’t mean you don’t have options though. If you need money right now, here are a few things to consider.
More importantly, if you find yourself having trouble with money on a regular basis, you should consider seeking the help of a professional. Getting the input of a financial advisor can change the way you manage your money and set you up on the right track.
Readers, have you ever fallen for the trap of a guaranteed installement loan?
Everyone wants to become a professional stock trader. Those who are skilled at trading make a decent profit without losing too much money. For the safety of the trading capital, you must follow a strategic approach and take the trades with proper discipline. As you gain more experience with this market, you will slowly learn to avoid the most common mistakes in the stock trading business. Sadly, the new traders in Hong Kong don’t even know what their mistake is. They are using the most aggressive method and trying to earn huge money without knowing about the key steps to take the trade. For this reason, some of them even blow up the account. Today we will teach you to avoid some of the common mistakes in the stock trading business. [Read more…]
We love our kids, but when they have summer break it gets stressful. You’ve got work to do, leaving the tikes to their own mischief doesn’t sit right.
To Google you go and summer camps near me is your search intent.
You find a lot of results for camps but which one’s good? How can you tell if your kids will have fun while staying safe? Keep reading for answers to these questions.
Letting others care for your kids is already a stressful decision, and having your kids go to a camp for the summer is doubly so. You want your kids to have fun and learn a few things. Yet, you also want them safe and within reach.
Ask these questions when you touch base with an overnight summer camp:
What are your child’s personality, interests, and hobbies? The answer to this question may determine what type of summer camp they’ll enjoy.
There are several summer camp types, like:
Talk with your child about what they’d prefer as this lets them meet peers with similar interests. Plus, they may learn and bring back something neat!
The different camp types offer different activities. Sports camps are self-descriptive whereas adventure camps may involve hiking, camping, and more.
Consider things like:
Choose a camp that’s more than a babysitting experience. Look for a camp offering daily activities and weekly challenges. This will keep your kids entertained and help them get beneficial stimulation!
Take these three steps when vetting the camp:
Online reviews or information found through camp websites answer your common questions. A referral from neighbors can help you rest assured you picked a great location. And, a trip there can confirm your thoughts.
Forgoing fun experiences to save a penny may have lasting consequences. Your children should spend their youth exploring and discovering themselves. Try your best to balance the budget with summer camp costs.
It doesn’t hurt to ask, but mind your budget!
Some kids dread the summer camp experience. They don’t like being alone at camp and rather spend time back home. That’s okay, but it does mean you could continue paying for something they’re not using!
Ask about the camp’s refund policy in case your kid doesn’t like it. Or, haggle for a partial refund if necessary. Choose one offering refunds to keep your investment safe (just in case).
So, you decided it was well worth doing the search for summer camps near me. You found a camp you and the kid(s) will enjoy, it’s safe and in the budget.
Use their break as a savings challenge while you’re focused on work. See our get out of debt guides to make the most of your kid’s time at the summer camp!
Any time someone chooses to seek debt freedom and succeeds in it is amazing to me. Dave Ramsey’s “debt-free scream” is always a heart-warming celebration to see online and speaking to people who have paid off debt always inspires me. Brian Meiggs’ story is yet another inspiration. He took the time to participate in a quick Q&A to share how he paid off $30,000 in student loan debt.
When it comes down to it, Brian was able to pay off his student loan debt by pure determination. When he graduated, that was his sole focus. He did not want that debt to have a hold over him for 10+ years, as it does with so many other graduates. Here is how Brian Meiggs got started on his journey and led him to debt freedom.
Q: Tell me a little about yourself. What inspired you to seek financial freedom?A: My name is Brian Meiggs and I’m an entrepreneur who spends most of my time building finance-niched websites from the ground up and making them profitable. Some of my recent projects include My Millennial Guide, Saving Junkie, and SavingExpert.
I’ve always been a hustler. In college, I bought used iPhones and flipped them for a profit. I had a few corporate finance jobs after college, but I found myself bored and without a purpose. I knew I didn’t want to work a 9-5 until I retired so I looked for a way out. I started a blog and eventually, it took off, and now I do it full-time. I enjoy every moment of it and the freedom it brings.
A: I graduated from college with around $30,000 in student loan debt. Being a 23-year-old, that is a lot of money. I spent so much time building a rock-solid budget and maximizing my income in order to tackle this debt. I paid off all of my student loans within one year of graduating college. It was so liberating.
A: It definitely took me a while to start making my desired income. I thought back and reflected, “man, I’m really doing it!” What helped me reach my income goals was looking at other bloggers who were making anywhere from $10,000 to $30,000 per month. I figured if they could do it, why can’t I?
It wasn’t until my 3rd year of blogging that I felt comfortable with quitting my day job. I was working as a Credit Risk Manager making around $85,000 per year. Once the income from my blog was making me more money per month than my job, I felt comfortable quitting.
I have a funny quitting story, but that’s for another time. Now, I’m making more than six figures per year with all my websites. I simply enjoy the financial independence and not the money itself.
A: My success came from looking at other bloggers who were successful and trying to make my website better. I’m at a tipping point where if I really want to grow, I’m going to have to hire a full-team to help with management. I really enjoy running everything myself but if I want to continue to grow, this needs to happen.
A: The most important part of my finances is continuing to maintain the lifestyle I am currently living. I’m not opposed to splurging on things that I want or saving every penny. I recently purchased my dream exotic car (BMW i8) and I have no regrets about it.
A: Staying debt-free is done successfully by spending less, finding additional sources of revenue and scaling that up, and having a budget that I actually follow.
A: Money is passive. It comes and goes and while it can make you temporarily happy, creating memories and experiences whether solo or with friends and family, that’s more valuable.
A: “The root of joy is gratefulness” – Brother David Stiendl-Rast
A: I just wanted to thank you for reading my story and learning a bit about me. I would say the best way to invest is in yourself. Never stop learning or teaching yourself new skills. Every day you should be better than the day before. What do you want in life? Go out and get it. Perseverance is failing 19 times and succeeding the 20th.
Looking at the success in Brian’s story and how he paid off $30,000 in student loan debt, I thought to myself, “Man, I wish I had done that!” Could you imagine starting out your adult life with absolutely no debt? Hopefully, sharing his story inspires other young people to consider doing the same or taking similar approaches to pay off debt and focus on financial freedom.
Readers, what do you think about Brian’s story? How would paying your student debt off immediately impacted your finances? Was it ever a possibility?
The COVID-19 pandemic changed a lot of things for people. Mainly, it has changed the ways many of us interact with one another. Now, more than ever, there are virtual events taking place and people are “Zooming” in to join parties. If you’re expecting a new addition to your family like we are, you may be wondering how to go about planning a virtual baby shower.
There are plenty of pros and cons to having a virtual baby shower versus an in-person get-together. When you are considering which will be best for you, you should weigh each of the points below and think about what you’ll be comfortable with.
The main pros where hosting a virtual shower is concerned are reducing your risk of exposure to COVID-19. Although more and more people are getting vaccinated, it is hard to tell what is/is not safe. Additionally, if you have a number of family and friends out of town, it makes it easier for them to feel involved.
Cons of hosting virtually are more personal in nature, typically. You won’t get to take photos for your memory book or play any humorous games in person. It may also impact the types of gifts you receive. Many people tend to spend more when they are attending a shower in person.
There are not many cons to hosting an in-person baby shower other than potential exposure to the virus. You may also be concerned about the cost of hosting a shower. However, this is generally taken care of by a third party throwing the event for you. If you are more of an introvert, an in-person event may also cause you some anxiety.
The benefits of hosting an in-person shower are plentiful. You will get to see some of your close family and friends and celebrate the arrival of your new baby. It gives you a chance to play fun games with one another and truly enjoy the day. You may also find you receive more items from your registry (and more fun non-registry items) when you host something in person as well.
When it comes to planning a virtual baby shower, you need to be creative. Virtual showers didn’t really exist until about a year ago, so ideas for games, activities, and what to do need to be thought up. Here are a few things to help you get started.
While a virtual baby shower does have a lot of options, I’ve personally decided to hold one in person. We have a lot of local family and friends that will be excited to celebrate (and so are we). Of course, for our out-of-town folks, we will still be extending the invite and online registry so that they can be involved in the celebration if they can’t make it in person as well. It will be a day to remember with family and friends!
Since my last personal update on the site, a lot has happened. First, we’ve announced to our friends and family we will be getting married this year (tentative November 2 date). Instead of eloping to Vegas, we decided to spend the money we would have on the trip and hold a ceremony here with everyone.
*Visibly Panics*
I’ve never dreamed of having a large wedding but, since announcing, I’ve gotten more excited by it day by day. But, of course, like everything with finances, it will be difficult. This is especially because we will be maintaining regular payments on all of our debt while putting together a completely debt-free wedding.
It is extremely important to both of us to not rack up any more debt planning a gathering for our family and friends. For this reason, we have vowed to pay cash for everything that has to do with the big day.
I’m thrilled about this and believe that if we buckle down on our spending we’ll be able to do this easily! Plus, we’ve got some awesome family and friends willing to help us make this dream come true. Here are a few things we are going to do to keep cost low.
Lastly, don’t panic. As I may have mentioned earlier in this blog post, I panicked a little when we first decided to have an actual wedding. However, the key to keeping things under control and within budget is to stay calm and think about your options. As we’ve been comparing prices of venues and different caterers, we haven’t given any answers or deposits right away. Instead, we take a moment to look at the budget as a whole and go from there.
Of course, we are going to have a registry and will absolutely love any gifts we receive from our loved ones. We are also hoping to be gifted the best present of all: money. Any cash we receive for the wedding we’ve decided will go towards paying off our current debts. We will also start a small “honeymoon” fund so we’re able to take a trip later in 2020.
Overall, I’m beyond excited to plan this wedding and share it with you all. I also can’t wait to share how I’m able to pull off this debt-free wedding and share any tips/tricks I learn on the way. Lastly, I can’t wait to embark on this journey with my other half.
First comes love, then comes marriage, then comes financial freedom.
Readers, did you go into debt celebrating your marriage? How long did it take you to pay off?