Helpful Tips to Start Saving Money

Everyone is interested in saving money, especially in this uncertain economy. It is advised to start saving money early. Ideally, if you can afford it, start in your 20’s. In your 20’s, you may not think about your retirement years, but you can be sure that those years are coming. So here are a few tips to help you start saving money.

Make a budget 

You would be surprised how easily money can be spent. Carefully look at your expenses and document them. After this is done, any money left over after your bills are paid should be considered your savings. If there is no money left over, then comes the next step.

Cut unnecessary expenses

The fact is there are some things that we just don’t need, but we continue to buy because it has become a habit. For instance, you can eliminate your cable bill, if you are never really home to watch it. Your phone bill can be downgraded to a cheaper package. If you usually spend large amounts of cash on entertainment, limit yourself to one event a month. Slowly but surely, you will see the pennies starting to accumulate. You will be saving money.

Cook your own meals

This is a big one, buying food is expensive. You will be saving money by cooking your meals at home. Most of us fall into the trap of buying groceries, yet we continue to get take-out. You are double spending. The added bonus is that most likely your meals will be healthier than what you are buying.  Start contributing to a retirement plan.

Some of us may be fortunate to work with companies that set up a retirement saving plan for us. However, if this is not the case for you. Shop around and start contributing to a plan. The earlier, the better.   A plan to start saving money is all you need to ensure your financial health. You just need to be consistent in your efforts to reap the rewards.

If you are a business owner, short term business loans may also be an option for you!

Business Loans, What Does It Imply?

Business Loans are amounts of money that the Bank grants to companies of different sizes to meet the needs of working capital, acquisition of goods, payment of services oriented to its operation or to refinance liabilities with other institutions and short-term suppliers. and that it is normally agreed to be paid in the short, medium term and sometimes in the long term.

Single payments vs. Payment by installments:

A single payment loan is a loan that requires a single payment of the total amount borrowed, including applicable interest, within the term of the loan term. A installment loan is a loan that requires several payments based on an established payment scheme. This allows the lender to be aware of the amount to be paid, but these loans can be a bit problematic if they have high interest rates. 

To access this type of financing, companies must provide ample information to the bank regarding their operations and the income and expenditure flows it generates, in order to guarantee the payment of the credit granted.

Some advantages of Business Loans are: 

The financing is guaranteed during the established loan period. Normally, lenders have different loan options to suit the needs and budgets of the applicant. You do not have to share your earnings or your company with the lender.

Some disadvantages of Business Loans are:  It can be difficult to keep up with the monthly payments. Banks will have to verify all their credentials before accepting their credit application. You could lose your personal property if your loan is tied to them.

Each person applying for the loan should take these factors into account when they are thinking of obtaining a Business Loan. Since these can help you, with a good plan and preparation, to avoid financial problems with your tight budget.

So, if you’re thinking about getting a Business Loan, choose your commercial lender carefully.

Business Investment

Business investment is important decision and it shouldn’t be taken so easily.    

First of all you shouldn’t invest in business if you don’t have enough money.  

Statistically, most of the companies fail because of the lack of money in the beginning.  If you don’t put enough effort and money in your business, you can’t expect success. 

Before investing, you must be prepared to certain losses, because no matter how your investment is good for long terms, nothing is perfect in the beginning. That is the reason why you should never take a loan to make a business investment.    

If you are not ready to take some risk, than you are not ready to be entrepreneur. All investments are risky and it could happen that you don’t get your money back. That’s something that you have to keep in mind and you have to be willing to take a risk and believe that you are doing the right thing.

Experienced entreprisers have better chances to build a successful start up, but that doesn’t mean that experience is crucial. Being informed is more important than being experienced.  Lack of the information is the reason for most of the unsuccessful investments. 

Do your research about market, competition, potential clients, their needs, your risks and odds. Uninformed entrepreneurs are often making mistakes by not paying attention to their business environment. Business investments are sort of gambling, but even the gambling requires certain knowledge. Making decisions blindly can rarely be a good bet.     

It’s also important to know when to invest. For example, some enterprises have chosen good year and good industry (computers 1983) and they made much greater success comparing to those who invested in growing industry but in the wrong time (computers 1985).

Knowing when to invest and having that kind of intuition can be developed through market analysis and research. Keep in mind that even the most successful companies have annual growth rate of 30% so your expectations should be real. Don’t put all your hopes in miracles, instead put all your efforts in research, keep your eyes and ears wide open and seize the opportunity.

What are Standard / Personal Loans?

Standard loans are agreements through which the bank or financial entity undertakes to advance a quantity of money to a person who receives the denomination of borrower. This person has the obligation to return that amount and also pay previously agreed interest and expenses related to the transaction. 

Before resorting to a personal loan, a number of aspects must be taken into account: Interest rate, Opening and cancellation commissions, Other expenses, Repayment term and the Amount of the monthly fee. 

With regard to interest rates on personal loans, they are usually of fixed or variable interest. A fixed rate will always be kept out of fluctuations in market rates, while variable interest varies with the market. The choice between both options is limited to the user’s ability to deal with possible changes in debt. In addition to repairing the nominal interest rate, it must also be done in the APR.

This is a slightly more complex calculation that includes the nominal interest rate and the fees that may apply to your loan, valuing the term of the operation. It is a more reliable indicator of the real cost of the loan.  Formalization Standard Loans must have an open account in which the loan amount will be paid and the monthly installment payment will be charged.

Finally, the loan is formalized by signing a policy in which the entity and the borrower undertake to comply with all the conditions of the operation. The intervention of a notary public is usually necessary, an expense that is borne by the client. On some occasions could be necesary to contract payment protection insurance, to get a guanrantee or partial repayment of the money in the events of an accident of the borrower (death, disability, prolonged unemployment…).

It is not recommended to ask for multiple loans if you do not have a way to pay each one monthly.

Questions to ask yourself before seeking financing for your company

You already have the idea, the structure, the service you are going to provide… you have even chosen a place. Now you must answer the million-dollar question: how much money do you need to launch your business?    

Perhaps for the moment you have only done approximate calculations, but it is essential that you match the numbers.     

You cannot present yourself in a financial institution with approximations about the investment you need. You must go with figures that are as close as possible to reality, and make sure that you will not have to return after a month to ask for a few thousand euros more.     

So, if you’re looking for financing these are the five points you need to establish:    

1. Identify personnel expenses. If you are autonomous, you should know what minimum salary you need to enter to cover your personal and family needs. We do not talk about what you would like to earn, but what you really need to live during these first steps of your company. In case you plan to hire someone, consider the sectoral agreements to determine your salary, without forgetting the contributions.    

2. How much does it cost to start? This will undoubtedly be one of the most complex questions you will have to answer. Prepare an initial investment table that reflects the budgets you have requested on, among other things, the design and creation of the local label; the rental price, including the deposit; the work to be done; all fees and taxes; the furniture and the exhibitors; communications, computers, servers and computer programs; the financing, opening, notary expenses; the initial marketing campaign, and, in general, everything that allows you to raise the blind to the business, such as insurance, consulting costs … The more complete this table, the more realistic your budget will be.    

3. A reasonable stock. If you are going to devote to the marketing of one or more products, it is also necessary that you estimate the amount of initial merchandise that you have to acquire: you can budget the gender you need only to fill the establishment, or guarantee the supply of several months or a season Make a REALISTIC estimate of sales and revenue and add everything to your table.    

4. Treasury Plan. You must take into account the structure of fixed expenses that your company will support during the first year, have a margin and distribute it for months. The most advisable, to avoid scares, is to leave the income box blank during the first three months while maintaining the level of normal spending. In this way you will know exactly how much money you will need to enter to be able to endure in the worst case scenario. And, above all: do not forget that payment deadlines are a recurring nightmare for those who sell to other companies (B2B). Many take advantage of their position of strength to delay payments beyond the 30 days established by law.    

5. Check the budget. You have everything ready. It is time to apply one of the golden rules of dressmakers, carpenters or bricklayers: measure three times and cut only one. Translated into our case, check that the data is correct so you only have to present it once to the financial institution.     Once you answer these questions, it will be time to go to your financial institution and get financing. Go Ahead!

Welcome to Instant Cash Loans ELHVE!

Instant Cash Loans ELHVE is one of the premier instant cash loans in the United Kingdom and North American markets. We provide the best instant cash loans for all customers around both locations, ensuring that customers who are currently struggling or in desperate need of money have the access to funding and lending that they need.

Whether it is to buy food or clothes, or just to fund the purchase of a holiday deposit, we provide customers with a loan despite the reason you need one. We believe that anyone in need should be helped if we can, and as there are so many customers who find themselves in difficult situations or in need of money fast, we are happy to help.

Our loans stretch to all amounts, and to a large variation in the length of time that it would take to repay your loan back. Some customers will be able to pay their loan back on their next work pay day, while others will be able to pay their loan back a few months from now. Whatever the need and affordability, we will do all we can to help the customer as much as we can.

Instant Cash Loans also come with very competitive interest rates compared to many of our rivals. Some of them offer close to extortionate prices on their interest rates, while we make sure to offer our customers the best interest rates possible, so they aren’t paying back double what they originally borrowed in the first place.

We also believe that we do not offer any terms or conditions in our contracts that make your life harder when it comes to paying the loan back. We make sure that our customers can pay their loans back while not getting into debt just for the pleasure of our profits! So if you need a loan, call today!