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Are Self Employed Allowed to Apply For Personal Loan From Licensed Moneylender?

If you decide to take a personal loan, but do not know where to go to get it, always choose a licensed moneylender in Singapore. By choosing a legal money lender, you can avoid harassment, which often happens with credit sharks or unlicensed moneylenders. Often people have this misconception about licensed money lenders thinking that they are affiliated with those illegal lenders also known as Loan Sharks. Licensed money lenders in Singapore are authorised by the government and they adhere to strict laws or be subject to significant fines or terminate their licenses. (Read up on: Are there still Reliable Money Lenders in Singapore?)

Licensed moneylenders have restrictions imposed on them when charging interest on personal loans. This means that you can be sure that you are not being deceived to pay ridiculously high-interest rates, and your loan will be more manageable for repayment. A personal loan is also called an unsecured loan. These loans are often used by borrowers for small purchases or unforeseen expenses that help borrowers with their financing. The moneylenders do not allow you to advertise or even send
you any text messages of any kind to advertise or try to take a personal loan unlike loan sharks. These loan sharks do not have a physical office that is why they are doing all these by sending text messages. If these illegal moneylenders violate the personal act of DNC and you can and must report them. These actions are in place to protect the general public from being lured into a personal loan when roaming chatter carrots if necessary.

Unexpected happens all the time, and you can urgently need cash, whether it’s a business loans with cash or when you need to urgently buy a purchase. The instant personal loan is a quick way to help you overcome. It is advisable to get an instant personal loan from money lenders who have hold authorised license.

Advantages of an instant personal loan?

This is easy. No complicated and lengthy procedures are required. All you need is a few simple steps and almost no problems. This is also almost immediately, as the name implies. This is in most cases safe, as long as the licensee issuing your loan gets a
license. If earlier you had bad credit, do not worry. Until you meet the requirements of a usurer to receive a personal loan, you can still borrow the amount of money subject to approval.

If you are using a personal loan for the first time, you should know the advantages of using it in other ways of meeting your financial needs. The licensed moneylender has a license to open a business, provides a minimum interest rate, and the entire application process is impossible. The documentation process is quick, and only original documents are required. The
payment is well planned with an expert considering the possibility of repaying the customer. Thus, when there are so many advantages associated with a professional personal loan.

 

 

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Money Misapprehension Singaporeans Have

There is absolutely nothing wrong about putting value on money. In fact, it is only practical that you start thinking more about your finances since this can help you achieve a more comfortable life and a secure future. By setting up your financial goals, you can begin working towards achieving it, which can give you a better shot at experiencing financial freedom earlier in life. But just because you have a particular financial objective, this does not mean not spending on anything. Of course, there are basic necessities in life that come with a price tag, and you will have to allot some money for these. At the same time, it all depends on your choices of where to source out your basic needs or some luxuries you want to reward yourself with.

The following misconceptions that Singaporeans have about money can be tough to deal with, and they can even impact your decisions in your day to day life. By debunking these myths, you can throw away those preconceived and rather faulty ideas about money, so you can attain your financial goals.

1. In Singapore, every shopping mall is so expensive

There is this concept that several people have about shopping malls in Singapore and how expensive these are. Thus, they fear the possibility of getting into serious debts because of shopping. But is this really true?

Quite honestly, it is true that shopping too frequently is never a smart and practical hobby. If you are a big spender and enjoy buying items even if you are aware of how unnecessary these are to your life, then there is no doubt that you may end up being in debt too often. Yet, if you need to buy essential items, there is no problem with doing so since there are various places in Singapore to get the best deals suitable to your budget.

There are endless opportunities for shopping aficionados that are widely available in Singapore. Various stores feature an array of good quality products at different price ranges. In fact, there are places that offer contemporary and traditional items, as well as local and foreign products. In Singapore, it is impossible not to find what you need – and it is all about searching for the place that can give you the most reasonable deals. Some people assume that shopping in this part of the world means going beyond their budget because of their choice of mall or store. If you go to Orchard Road for shopping, then it is likely for you to max out on your credit card bill. This is the place to go where you can find luxury and branded items that are in the 6-figure range at times, which is beyond the purchasing capability of the average working adult in the country.

So, the next time you need to go buy something at the store, and you feel uncertain whether you should head out or not because of your misconception about Singapore malls, then you know where to go. Flea markets and discount shops are perfect for every budget-conscious individual who just wants to save on their expenses while giving in to their desire to shop for quality products.

2. A significant amount for your emergency fund is a must

We all need to have an emergency fund – this is not even a big surprise to anyone. But some people are afraid of failing at it maybe because they aspired too high and wanted to start with a huge amount for the fund. Now that is where the problem starts since they may have high expectations when it comes to the amount of money they need to save and put into their emergency savings. Just because you have this fear, this should not stop you from wanting to set up your emergency fund. You can never tell how the future may turn out, and there are always some surprises that life throws out at us. These personal dilemmas that can significantly impact your finances include theft, illness, and unemployment. Just imagine how difficult it would be if suddenly you find yourself jobless, yet there are massive bills to pay. How can you possibly get through this problem in life?

This is why it is important to build a reasonable emergency fund that is good for a few months. Experts suggest that a reasonable amount would be 6 months worth of your income. If you have this amount saved, then you will be able to ease your worries in case unexpected situations arise in life. If you are unable to save in time, then what can you do? Alternatively, you can approach licensed money lenders in Singapore who are fully authorised by the MLAW. They offer the best payday loan that you can ever find in Singapore.

 

3. Your retirement is already well taken care of by your CPF savings

Sadly, there are some individuals who feel that they can rely on what the welfare system offers for their retirement. The CPF savings aim to help you get by in life, as long as it is within the minimum standard. But the thing is, are you really satisfied with this, or do you want to live more comfortably during your retirement years?

Unfortunately, the CPF savings will not suffice when it comes to sustaining your ideal lifestyle once you are in your retirement stage. This is merely a safety net – a basic one – that can be your cushion for supplying your essential needs such as food and shelter. But if your goal is to travel more, enjoy dining at fancy restaurants, or living in a nicer place during your old age, then you should not even consider your CPF savings as your retirement fund. This will never be sufficient for your high hopes for the future.

What you should do is to come up with a more realistic emergency fund, along with your retirement account. You have been working all your life, and the last thing you want is to maintain a status as an employee even when you are old and gray. As early as now, make better choices with your finances and consider debunking all of these misconceptions about money. Aim to be more well-informed about these things, so you can create a more favorable and more comfortable future for yourself and your loved ones.

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Smart and Swift Ways To Save Money Now

Everyone knows it necessary to spend less than we earn. And it is also important for us to save money. However, the truth is that a lot of people will spend more than the amount they can make. As a result, these people will be in debt especially your credit card bills. If you ever need some quick loans such as personal loan or payday loan, you can always approach licensed money lender in Singapore as your temporary means to solve your problems.  Even if you are now in debt, you should try to spend less if you are unable to save some money every month.

Of course, you may wonder how you can save more money. And here are some tips for you!

Cut Down On All The Unnecessary

You may consider cutting down your household expenses. One of the things you can consider is to reduce your electricity bill. You should make sure that you only use appliances which are energy efficient. Besides, you should not switch on the air conditioner when it is not needed. In fact, turning on a fan will be good enough in most cases. You will find that you can save a lot if you do not always switch the air conditioner on.

When you need to save money and don’t have much, to begin with, there are some unique shortcuts you can take to have the cash to set aside. People think that saving money is so daunting a prospect, but if you think outside the box and pay close attention to your goals, you can end up being able to save up for something big or just have more money every month. Invest in a good buzzer if you’re a guy, or you have children, and do it yourself. Get rid of cable TV. Watch movies, read or play games. There are cheap movie rentals out there and even subscriptions to get movies delivered to your door. Once you go without it for a few weeks, you shouldn’t miss it much. Consider buying less meat and getting your proteins from other sources.

Health Is Important

Along the same health lines, don’t pay for a gym membership that you aren’t even using. If you don’t have the motivation to do it at home and don’t have the motivation to get to the gym, why pay for it? Then, when you dedicate yourself to working out, you can save money by doing it at home. Decide what flicks are the best to catch on the big screen, and limit the number of movies you go to. As mentioned before, $1 movie rentals do exist.

Quit smoking! Now there’s a goal with multiple benefits. Not only are you saving money on the packs you are not buying, but you are also healthier and will save money in insurance costs. And since we are on that soapbox, cut down on your drinking of alcohol. It can get very pricey over time. If you always have something on hand, experiment with different brands to see if you can switch to a cheaper one. Have nights in. If you don’t make it habit to go out to restaurants, the theatre, or to clubs, then you can save quite a bit of money. If you stay as good as you can by eating better, getting more exercise and dropping bad habits, you will save money in health costs. Reduce your shopping trips. When you spend a day shopping, you are subject to impulse purchases and even usually buy food while you are out. You can save money by shopping with a list of the specific items you need to purchase instead of meandering the sales. If you have the type of family that can get by on one vehicle, then do so for awhile. That can save you a couple hundred per month!

Bring your lunch to work whenever you can. Say no to your magazine subscriptions; read what you can online instead.
Travel less. If you don’t travel very much anyway, plan your outings, so you get everything done in one or two trips a week instead.
Set down the latte! Have a treat now and then but most times, make your coffee. If you like the dessert kinds of coffee, buy some supplies and experiment yourself. None of this is to say that you can’t budget for a night out at the movies or a weekend vacation.

Learning to let go of things you know you can live without and cut back on the things you don’t want to live without, can save you more money than you might realize.Good luck, and get anyone you know on board with you that you can. Tell them your goal and get them on your side for support.

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4 Useful and Money-Saving Travel Tips for Adventures

There are so many people who love to travel. But then due to the busy schedules that most of us have, planning a proper trip has become a rare event. Planning a trip means exploring the place, deciding on the budget, number of days required for the same, the places that are to be covered, the activities that need to be done etc. So in a nutshell a lot of homework plus a lot of calculations too. People also have difficulty prioritizing about what to spend on and where to save money. Here are 4 useful and money-saving travel trips for memorable adventures.

1) Be Mindful Of The Expenses And Prioritize Them Carefully

When we travel to a particular place, it is mostly because something about the place attracts us. For example some places are known for sky diving, while others are known for scuba diving. These are activities that would etch a mark in one’s life, if it can be experienced. So instead of spending a good amount of money on the accommodation, one should spend on such activities. By doing a little bit of research online and with some travel agents, one can get a proper idea about the rates of guest houses or hotels and then accordingly book one (definitely the location needs to be kept in mind). Nowadays, there are rented homes available in many tourist places that are offered by people out there. Staying at one of these homes would give a localite feeling and one can actually visit places that a traveler would never have as a part of their best packages too!

2) Blending With The Local Culture

One should try and become a part of the local culture of the place. This would help to make way for a lot of interesting conversations, which in turn would help to gather a bunch of interesting knowledge about the place, the main form of their livelihood, the history of the place, the local cuisine etc. Trying the local cuisine, the street foods is key too! Some of them might be really tasty, you never know; while there might be some that are not so good. Nevertheless, it all becomes a part of the memorable experience and adventure. However, one should also beware of having a not-an-upset-stomach, as otherwise it would affect adversely.

3) Use Local Transport

Most people prefer to have there own private vehicle even when they are on a trip. Or others prefer to travel from one place to another in a taxi. Definitely these are comfortable modes of conveyance, however they are pretty expensive too. Instead using the local transport is a much better idea. There are places that might have there own special mode of public transport, that isn’t available in any other part of the world. Some places have excellent local train service, while others are well connected through a bus or a toy train. Making the most of these transport facilities is key as it not only saves money, but also helps the people to have a proper look around the place. There would be many small tourist attractions that are generally not mentioned while one travels using a guide. But using the local transport would actually help in exploring the place better.

4) Talk To The Travelers

Talk to the travelers around. Lets say firstly you are taking a flight to a place, talk to the people at the airport or at the airplane and find out if there is someone who has the same plan as you. This might end up into a new friendship or may be just information about the place or people that you are travelling to. Talking to the localites is key. Then while on the go, let’s say you are in a bus, start off a conversation with a passenger. Or may be you are in a long queue to enter a museum, talk to the people around. Not only would you come across so many different kind of personalities, but also a lot more information about the place and other important attractions that you never knew existed.

Everyone Deserves A Break

Everyone wishes to go travelling, who doesn’t? At times many are financial bounded and do not have too much cash in hand. If you ever need a temporary help, you can always approach licensed money lender to get opt for personal loans. Get out of the country to recharge and work harder when you get back! Everyone needs to reward themselves.

Also, if these hints and tips can be diligently followed, I am pretty confident one would have a perfect pocket friendly memorable and an adventurous trip! Have a safe one!

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The Benefits of Choosing Licensed Singapore Money Lenders

licensed-money-lender-singapore

No matter how badly or how quickly you need your funds, it’s important to make sure that you’re dealing with a reputable lender. The best way to make sure of this is to consider only licensed money lenders and accept no substitutes. This is certainly the case if you’re borrowing money from a traditional brick and mortar establishment, but it’s doubly so if you’ve decided to let your fingers do the walking and apply online instead.

Absolutely anyone can build a website, claim to be a money lender, and offer you financial help. Some of these people will be scam artists to be sure, but others may be independent business owners that aren’t particularly serious about what they’re doing. A license is your proof that the company you’re dealing with is everything it claims to be and actually deserves to be trusted with your very sensitive financial information.

Proof of Stability

Anyone you’re trusting with your financial future, as well as your personal information, needs to be proven stable above all things. In order to obtain a proper license, a money lender needs to fill out all of the government-required documents. They also will have needed to demonstrate good character. The money lender in question will also need to prove that they don’t have any sort of a criminal record. Proof of a license is your guarantee that a given lender meets all of the requirements that they should as dictated by the law.

Protection of Your Rights

When borrowing money in Singapore, it’s important to make sure that your rights are 100% protected. This is the case both for Singapore natives, as well as foreigners who need to borrow money from Singapore lenders for reasons of their own. A Singapore-specific license ensures that your rights are completely protected throughout every step of the process. It also ensures that any and all information you receive is accurate and can be trusted to apply to your situation.

Peace of Mind

Last but certainly not least, knowing you’re borrowing from an establishment that is proven to be on the up and up will add to your peace of mind. After all, being in a situation that requires you to borrow money from a third party already comes with its share of stresses. It’s a great comfort to know that not only are you within reach of the assistance you need, but that you’re getting assistance you can really trust to boot.

Before you sign on the dotted line with a given lender, be sure to look into whether or not they’re properly licensed. Proving the existence of a proper Singapore lending license is actually quite easy. All licensed lenders will appear on a list known as the Money Lender Registry. If the lender you’re considering doesn’t, then keep looking. Don’t simply trust someone who says their license is pending. Accept nothing less than an official appearance on this very important list.