Dos’ and Don’ts for money lending in Singapore

Dos’ and Don’ts for money lending in Singapore

Seeking licensed moneylenders in Singapore? Are you going to buy your new home or a new car or willing to set up your new business? Money lending has now become the easiest way of achieving your all dreams at very reasonable interest rates. But you may sometime get in trouble if not take a proper care and proper research before lending money. Sites like Loan Advisor, consolidates and rate the top 10 most reliable moneylenders to make life easier for you so you don’t have to go through the hassle of researching from the list of 160+ licensed moneylenders in Singapore.

Money lending is one of the best ways for fulfilling your desires, but you should need to go through its every aspect before getting involved in the deal. Research the market thoroughly and make a right decision.   Here, in this content, we are going to provide you with some dos’ and don’ts while seeking money lending in Singapore.

Do’s

  • Make a thorough research about the firm, its interest rates, procedures, reputation in the market before going for getting into the deal of money lending.
  • Calculate the amount which you exactly needs for fulfilling your needs, so that you could easily repay it in easy instalments.
  • Go through all the contractual terms and conditions and financial obligations very carefully in order to reduce the chances of getting any fraud.
  • Shop around different moneylenders in the market so as to get most favourable terms.
  • Get a copy of loan contract so as to make it useful as a proof for you it is you need as well your right to get that.
  • Keep all the copies of the instalment repayments and the main copy of the contact in safe hands.
  • Always make your payments be on time in order to reduce the chances of getting any penalties.
  • Get ready for the repayment also if you are not able to make your routine payment on time.
  • Never sign the copy of the agreement without reading it. Read all the clauses very carefully and never get into a deal where you provide the authority to the moneylender for selling your property in case of failed repayments.
  • On the successful granting of the loan; check the principal amount very carefully so that to check whether the money lender is not deducting the extra charges from it. The government of Singapore only has permitted to deduce the 10% of the principal amount.
  • Your name, date of issuing of the loan, signed the receipt, fee receipt and amount of money you are going to borrow should be properly and correctly mentioned in the note of contract.
  • Make sure that you should get a statement of the loan at least once every 6 months.

Don’ts

  • Never sign any note of contract without reading it carefully.
  • Never sign any deal of money lending in hush-hush.
  • Never ever trust the money lenders who make you call, and send money or any other personal references for money lending.
  • Never sign an incomplete copy of the note of the contract as there are the chances of adding clauses which may harm you financially.

Never, become a guarantor for a person whom you don’t know on a personal basis or is not capable of refunding money.

The 6 Step Millionaire’s Guide To Investing Your Money

The 6 Step Millionaire’s Guide To Investing Your Money

Investing your money is easy, but smart investing needs to accommodate to your needs and lifestyle. Today we show you the various, maybe a little less known ways to invest and be smart about it.

 

  1. STOCKS

 Firstly make sure you know what you’re doing, or find someone who does. If you don’t know the difference between individual stocks and equity mutual funds, maybe you should let someone else take care of this for you. Set your budget, create an account and never, EVER invest with your emotions.

 

  1. GO INTERNATIONAL

 Many people like to stick with the American Stock Exchange in order to invest their money, however it is in your best interest to do your homework and see what else there is in the international stock market in order to maximize profits.

 

  1. HEDGE FUNDS

 Hedge funds have had a tumultuous past, making waves in the past few decades, but continue to bring higher returns than other investment options. If you choose to go down this road, make sure you can do without the money for a longer period of time. Hedge funds require for you to lock down your money for at least one year at a time.

 

  1. BITCOIN BONANZA

 Bitcoin investing has been slowly gaining speed in the past few years. Cryptocurrency is a huge movement that is becoming more and more commercial by the second. Increasing in the past year by more than 750%, bitcoin investing may just be the answer for you.

 

  1. GO FOR GOLD

 Investing in gold is always an option, because prices may increase and decrease over time, however the fact of the matter is, the gold is always physically in reach. It may not be a short-term solution, however it has shown that holding onto gold is always a good idea as it maintains or heightens in value.

 

  1. PROPERTY INVESTMENTS

 The great thing about investing in property is that it can partially pay itself off. If you have the equity to invest in real estate it is a smart idea to do this. Purchasing property can have its qualms along the way, however you always have the option of renting out space as a home or to a business. In doing this your payments can be reduced drastically and by the end of it all? You will have a property which you can later sell, creating a return profit that will have you singing all the way to the bank.

Investments can be a daunting task for many, but the truth is it’s not rocket science. The secret is to find the investment that suits you as an individual and the rest will all fall into place.

Back To Basics – The Fundamental Rules That Everyone Always Forgets About Saving Money

Back To Basics – The Fundamental Rules That Everyone Always Forgets About Saving Money

Can’t remember the last time you had some spare cash lying around? You soon will because we are giving you some simple, yet efficient ways which will have you saving more than ever.

 

MAKE IT A LONG-TERM RELATIONSHIP

Want to go to the Maldives, but waiting for your next lifetime where you may have a better financial track record? You don’t have to. Make a budget of how much that dream trip is going to set you back and start saving. Each month, as soon as your paycheck comes in, set aside the money you have allotted and in a few years you will surely be feeling the warm sand between your toes as you gleefully sip that cocktail on the beach.

 

BUY A PIGGY BANK

 It may sound silly and frivolous, but trust us – it works. Each night empty out your coins from your purse or wallet into your piggy bank. By the end of the month you will have saved probably more than you have in the past few years. With this money you can afford fun date nights, put the money towards your children’s college fund or make an emergency stash to save you on those rainy days when your car decides to stop working or your teeth happen to start aching.

TREAT YOURSELF ON THE REGULAR

Give yourself a monthly treat budget. Make sure to keep the amount the same each month and place the money in an envelope or drawer, but always keep the money in the same place. This treat money can be spent throughout the month on whatever floats your fun boat. When the money runs out wait until next month for your spending adventures and stick to money savvy outings instead.

 

Saving doesn’t have to cost you the lifestyle you have already become accustomed to. Follow these tips and allow yourself the ability to save and enjoy your life at the same time.

5 Simple Ways to Stop $pending Your Hard Earned Money

5 Simple Ways to Stop $pending Your Hard Earned Money

Do you find yourself constantly rummaging around the bottom of your bag searching for spare change even If it’s not the end of the month? If you’re struggling to stay afloat and cannot remember the last time you had change to spare it probably has got more to do with your spending than anything else. Take a look at the tips we have which will send you on your way to your next tropical holiday instead of loathing life on the regular.

 

#1 TAKE NOTE ON WHERE YOUR PENNIES FALL

For the forthcoming month make it a point to only use your debit card wherever you spend. From buying the groceries, home furniture to paying for your fuel. Now we know this is a task, but any money you take out at the ATM should also be documented. From this you can pinpoint exactly where and how much money you spend where.

 

#2 ALL ABOUT THE LISTS

Make a list the next time you find yourself heading to the shops. One of the best secrets to saving money? Simple! Stick to the list. Don’t look left, don’t look right. Keep your eyes on that list and do not veer from it.

 

#3 CALCULATE HOW MUCH TIME THINGS COST

If you are unsure about buying something, this is one of the best tips we have which will help make your decision. Calculate your wage to the hour. Next, ask yourself whether that particular item is really worth five hours of your working life. If not, let it go.

 

#4 SLEEP ON IT

Again, if you’re not sure about spending one third of your monthly wage on a new winter wardrobe, put the items on hold. This will stop you from compulsively buying half the store. When you do come home be adamant in checking if this is a necessity or not. Talk it over with your partner for further insight. Alternatively if we really are talking about a new clothing collection, open up your wardrobe and have a look inside. How many of the new items can be integrated with your things already living there. This can work for anything, not just clothing.

 

#5 BURY YOUR CREDIT CARDS

It’s understandable that it is more and more difficult to go through life without the help of your credit cards, but the fact of the matter is that you do not NEED to take your favorite cards everywhere. Bury them somewhere safe and only take them out when you have selected something that you know you need. We’re talking beds, furniture, health issues, etc.

You don’t have to be Einstein to stop spending where you don’t need to be. Now that you have these tricks up your sleeve we know you’re going to be smart about spending.

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