Loans 2 You Blog

How to Save Money on Bank Charges

Posted By Admin ,
Thursday, 21 October 2010

Most people never look at their bank statements or the amount of bank charges that they are using on a day to day basis. Yet one of the quickest and most efficient ways to save money is to become aware of how much money you’re actually spending on bank charges.

1. Check your bank charges

The first step to saving on your bank charges is to do a mini audit of your bank statements. Go through each bank statement and see how much you’re being charged for specific transactions. Then calculate how many of these transactions you’re using on a monthly basis.

2. Check for free transactions

Depending on the bank you’re with they occasionally have unlimited free debit card transactions. If you’re constantly withdrawing money to pay for goods, rather consider paying with your card. Make sure you know exactly what the cheapest charges are and then change your habits accordingly. If you need to pay with cash, try to only withdraw cash once a week instead of several times a week.

3. Don’t use your credit card

No matter how tempting it might be to purchase that pair of shoes on your credit card, you’ve got to resist it. One of the biggest financial hurdles on a personal account is the credit card debt. If you do have a rather large credit card debit, start paying it off every month until it’s gone for good. Make it your priority.

Your Pay Day Loan Checklist

Posted By Admin ,
Thursday, 21 October 2010

A pay day loan is a fantastic way to get an additional stream of money into your account. However before you take the plunge and take one out make sure you go through our checklist.

1. Create a payment plan

You need to make a concrete plan for paying back the amount in full (with interest) by your next paycheck. You also need to make sure you’ll have enough money to survive the following month.

2. Make sure your lender has a contact number

If you’re purchasing a Pay Day loan via a website make sure there is a contact number available. This is imperative in case you have any questions or concerns you would like to discuss. It also gives you a peace of mind to know that you can reach the lender during working hours. Calling before you decide to take out the loan can help you decide on the level of their customer service.

3. Find a Lender who is open about their price

If you’re getting financed through an online vender make sure that they are open about the price. The company will generally state how much interest will be charged on the loan and for what amounts you’ll be able to apply. If the company is hiding this information you can be caught later on being over charged. Make sure that the specifics of the loan are detailed in the contractual agreement that you’ll both sign.

4. Don’t borrow more then you can pay

You might be tempted to borrow the maximum amount of money that the lender can offer but don’t be tempted. Make sure you have a budget of exactly how much you need. Don’t borrow more just because you can. If you do, you’ll often struggle to pay back the whole amount.

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