Category Archives: finances

I think it’s fair to say that there are quite a few people who rely on loans to get by. Either they want to live past their means or they struggle because they are constrained by a limited income. Many parents rely on loans simply to pay for the needs of their children. This brings us to the question of whether taking out a loan is always a bad idea. The answer of course, is no. You just need to be prepared for what that loan entails, understand the right way to take out a loan and recognise the warning signs.

Paying It Back

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It’s easy to forget that when you take out a loan you are not getting a freebie. Loan companies are not charities and one day you will be expected to pay any money that you take out back with interest. We fail to remember this because once we have the cash in our account, it can be freeing. Finally, we can buy everything that we want or needed that used to be out of our price range. Suddenly, we have the cash for our luxury holiday or even just a new dishwasher. Just keep in mind that the money isn’t yours and that’s why you should aim to take out as little as possible.

You also need to think about the cost. Make sure that you are looking at any company you choose to borrow from carefully. Look at the interest rate and any other charges that might be mentioned on the site. If you do this, there should be no chance of you ending up in a situation where you can’t afford to pay back the money you borrowed.

Are You In Control?

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They key thing to remember is that you should be in charge of the loan. It should be up to you when you pay it back. For instance, you may find yourself in the position where you can pay back the loan earlier. If that’s the case the company should allow you do this without facing an extra charge. Lenders such as Credit24 do allow this possibility while others won’t. That’s because they know if you pay the loan back earlier they lose out on a higher level of interest. It’s important to understand that lenders are businesses like any other. Their main purpose is to make a profit, not to give you financial support.

Are You Becoming Dependent?

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You don’t want to find yourself in a situation where you’re dependent on loans to get by. Loans should be used sparingly and occasionally. Be aware of falling into the situation where you’re borrowing money to pay off a debt. This is essentially a debt spiral and it can be incredibly difficult to escape. It will slowly eat away at your finances until you have nothing left. Only borrow if you know that you’ll be able to pay it back before the interest rate becomes too high to manage.

I hope this helps you navigate the tricky world of borrowing, lending, and loans.

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Being a stay-at-home mom can be tough. Many financial difficulties come with running a single-income household. Plus, you might have aspirations of taking your career further. At the same time, getting a job can be just as hard. You’ll have less time to look after the kids and might need to pay for child care.

But there’s another option. Freelancing can be a fantastic idea. You can do most of your work at home, gain valuable skills, and bring in some extra income. Here are some of the key reasons why all moms should consider creating their own freelance business.

More Time With The Kids

One of the main reasons some moms don’t want a 9-5 is it reduces their time with the children. Someone needs to be there to look after the young ones and pick your older ones up from school. If you do a freelance job from home, you get the best of both worlds.

Freelancers have the opportunity to set their own schedules. Need a day off to take your youngest to the dentist? No problem. Have to take a break to pick your child up from school? You can. It gives working moms the perfect work-life balance.

The only concern you might have is the hassle of working and running after the kids at the same time. But it can be done. Use some of these tips to make life easier as a working mom, and you can take care of both.

It Takes Limited Resources

The kind of equipment you need depends on what kind of freelance business you intend to run. But in most cases, you’ll barely need anything! You can do all sorts of freelance work using nothing but a computer. Of course, you might also want a smartphone for communication purposes.

There are a few other tools which can help. If your work involves going out to meet clients, a credit card reader will work great for taking fast payments. You might also need some specialist equipment depending on what you’re doing. For instance- freelance transcribers can benefit from a transcription kit.

It’s something you can do yourself with minimal investment. It’s worth splashing out a little on a solid computer and smartphone, though- these will help you make your money back.

There Are Plenty Of Business Ideas

You might be worried about certain qualifications or education. But with freelancing, all you need is a skill and the chance to prove it. Maybe you’re well-versed in graphical editing. You can show off your previous work on social media and find clients that way. Or maybe you want to use Craigslist to advertise your marketing abilities.

Blogging is another great freelance business idea. No matter what area you’re passionate about, you can create content based around it and bring in viewers. It can be monetized through ads, merchandise, and even selling eBooks.
Sites like eLance and Fiverr can also give you some ideas. People often advertise the jobs they need doing on these sites. While you might not make much money, it can be a useful stepping stone and help you build up a portfolio and client base.