E-Transfer Loans

24 Hour E-Transfer Loans Canada

Now and then we encounter emergencies compelling us to arrange money quickly. Even after making a budget for all expenses, we find new requirements popping up on a regular basis. Some people may consider taking small loans but the prospect of a long and complex procedure makes them drop this option. To solve this common problem and bring financial help instantly, we provide a solution 24 hour e transfer loans Canada. We have an online procedure, which enables you to borrow funds without leaving your home.

Through us, you can obtain cash without pledging collateral. Our 24/7 hours e-transfer payday loans bring totally unsecured loans to make our services beneficial for tenants. Bad credit holders are also assured to get assistance at How To Get A Loan. Lenders associated with us will give you approval, even if you have errors like defaults, arrears, late payments, bankruptcy, foreclosure, etc in your credit history. All citizens of Canada, above 18 years of age can make an application 24 hour e transfer loans Canada. You should also have a regular monthly income and a valid bank account to qualify for our services.

How Payday Loans Help You?

24 hour e-transfer loans Canada will help you get loans that you can find with better terms and rates within hours of applying. We are based in Canada and we are not a direct lender but a referral website where you can get a loan with better terms and rates.

Payday loans will help you get fast cash by eliminating the need of faxing documents or pledging any collateral.

Instant e transfer loans 247 have also kept the application procedure simple and secure. To apply all you will need to do is complete a short form with the required details and submit it.

Who is Eligible to Apply Here?

Meeting the eligibility criteria interac e-transfer is easy. Before applying you will need to confirm that you hold an active bank account that accepts direct deposit. This is important so that lenders can wire the money right after approval. To confirm your repayment ability you need to be currently employed, earning fixed income at the end of every month. Any Canadian citizen who has attained the age of 18 years and can meet these simple preconditions can rest assured of approval.

Even if you are tagged with a bad credit rating you can still qualify for a payday loan through 12monthloans.ca, provided you meet the eligibility criteria.

How 24 Hour E-Transfer Loans Give You Quick Cash

Our payday loans will help you get same day cash loans that you can find with better terms and rates within hours of applying. Our loans are based in Canada and we are not a direct lender but a referral website where you can get a loan with better terms and rates. We will help you get fast cash by eliminating the need of faxing documents or pledging any collateral. Online payday loan email money transfer have also kept the application procedure simple and secure. To apply all you will need to do is complete a short form with the required details and submit it.

Our e-transfer payday loans services are designed with the purpose to serve everyone in need. If you are facing a scarcity of funds and your next pay check is far away, you should apply for payday loans. These loans will help you until your next salary day. With e-transfer payday loans, you will get instant money to deal with your financial problems. Within few hours of applying, these loans will be at your disposal.

When you have temporary and crucial requirements, short term can be useful. They are offered a repayment period of one month. For people who do not want to go through complex paper procedures, faxless loans are the ideal solution. You can access them without faxing any documents. Cash advances instant loans can get you rid of your mid-month monetary crisis. For any expenditure that needs to be sorted out right away, you can rely on loans.

What are the services available 24 Hour E-Transfer Loans?

At 24 hour e transfer loans, you can make use of instant payday loans services- payday loans, cash loans, short term loans, faxless loans and cash advances.

Am I eligible?

You are eligible if you are an adult citizen of Canada and a regular employee with a valid bank account in your name.

Will I have to pledge collateral?

No. Through 24 hour e-transfer loans, you will obtain loans without pledging any collateral.

Can bad credit history be a problem 24 Hour E-Transfer Loans?

No. With 24 hour e transfer payday loans, bad credit records like defaults, arrears, insolvency, foreclosure, late payments, etc are also accepted.

What is the maximum amount and repayment period?

24 hour e-transfer loans an amount ranging from C$100-C$1500 can be attained with a repayment duration of 14 to 31 days.

How can I apply 24 Hour E-Transfer Loans?

To apply, you just need to fill in your details in an online application form at our site. 24 hour e- transfer loans will get back to you very soon.

How can I get more information?

You can contact us anytime to get additional information regarding our payday loans services.

Read More

Are They Helpful For Your Financial Decisions?

In 2018 it was estimated that 11 million people used price comparison websites to help make their financial decisions. Reports state that they are most used for vehicle products, such as insurance, or home and contents insurance.

These tools could help us cut the costs of our annual and monthly bills and can be extremely useful when looking to make sure we get the payday loans best deal. As our purse strings might get tighter after an expensive Christmas and we Brits are supposedly bargain hunters, we could all be flocking to the best price comparison websites to check our deals, consider switching, and looking to save money wherever possible.

Here at 12monthloans.ca, we are looking at how price comparison websites should be used for maximum benefits and whether there are any negatives.

How Price Comparison Payday Loans Work

Price comparison websites are like a search engine that provides the best deal for a certain product, for example, car insurance. There are price comparison websites for so many financial products, from everything from payday loans to energy tariffs and financial products for savings. They are so popular because they supposedly house all the best deals and what a customer is looking for, in one place.

Customers input data and the comparison tool will scour the available deals that are suitable. The amount of information you have to put in varies, as for car insurance, customers will need to detail their driving history, perhaps some medical background as well as car details and personal information. The tool will then produce quotes based on your specific. There are a few comparison websites, like https://www.icash.ca/, that do not require you to enter your personal details in order to compare financial products.

It is always important for consumers to be aware that comparison websites are business models designed to make a profit, despite how much value they might provide to the consumer. 2018 reports suggest that the comparison market has become more competitive, which could be affecting their profits and consumers might want to be aware of any changes to the website they favor. One way they make money is by having advertisers appear on their website to drive through revenue. However, some consumer comparison websites also accept sponsored listings. This is where a certain provider pays the website to appear top of certain quote requests, despite not being the best deal for the customer.

A 2010 report also suggests that consumers are not aware of how much commission payday loans services earn from their customs. A YouGov survey indicated that consumers were expecting to pay between 5 – 10%, but the real figure was much closer to 24% in commission. Since this report, regulators have had a tighter crackdown in the industry to help protect consumers and encourage transparency.

Are There Disadvantages To Even The Best Price Comparison Websites?

We know that around 11 million of us use price comparison websites but experts investigating this market state that there is still little clarification or transparency around how these websites make their money. In turn, there are a couple of concerns and things that consumers should be aware of when using these sites.

Not All Competitors Are Listed:

When consumers are shopping on a price comparison website, they may think they are getting the best possible deal. Yet, not all the providers within one market are necessarily listed on the one site they are using.

How They Help Us Make Our Decision

Consumers use price comparison websites to find the best deals. However, reports suggest that price has become the deciding factor for financial products when it might not actually turn out to be the best option for their specific circumstance. A report in the Telegraph indicates that consumers do not check the specifics of the product they are comparing; from anything from trying to cut costs on your holidays to insurances. As we use these sites for ease and convenience, we do not then check the excess or details of the policies that could end up costing more as it is not tailored to an individual’s circumstances.

How Could You Make Price Comparison Websites Work For You?

The CMA (Competition and Markets Authority) recommends that customers use more than just one price comparison website as there could be miniscule cost differences in the policies available, which could save you hundreds in the fine print. We have already established that there are some providers that do not subscribe to these consumer websites, and it is worth checking these directly, too.

They help us make decisions because they seem to present all the information we need to feel informed. This could be just as dangerous as being uninformed. This is not accurate as there are better cost-savings to be had when consumers read the policy. For example, a free courtesy car when you experience a breakdown included in your insurance package. Other, cheaper insurance policies might not include this, and a customer might pay so much more, but this is a risk cost.

Here at 12monthloans.ca, we encourage our customers to compare financial (and other products) before they commit to them. We believe in making responsible financial decisions that are going to benefit you’re in the future. Payday loans are featured on several price comparison websites, like this is one of the requirements set out by the CMA (competitions market authority) for payday loan companies. We are a compliant lender, happy to appear on these sites. You can check them out on our partner’s page.

We are a payday loans direct lender able to provide customers with emergency loans when they need it most, like in the instance when you need a courtesy car and do not have the money readily available because your insurance policy does not cover it. We do work to strict lending criteria but you can find out more about how it works on our website.

Read More

What Pilot Strikes Mean For Your Holiday

Canadian Airways pilots and staff are currently leading the charge for airlines with planned pilot strikes. The strikes are scheduled during the Canada summer holidays, in which are scheduled to escort 6,090,000 passengers to over 75 destinations over the course of the six weeks. Unless otherwise stated, a pilot strike will only take place in Canada and should not cause disruption to those flying from other countries on the days of the walkouts.

Traveling unprepared could lead you to spend unnecessarily or need access to emergency finances, like a payday loan, when something goes wrong. Whether you have a flight booked with British Airways or are looking forward to a holiday package with another provider, it is important you understand the potential implications before you fly and, wherever possible before you book your next adventure.

Airlines With Planned Strikes This Summer

It is not just BA passengers that could expect delays as passengers are re-routed, Heathrow and Gatwick travelers should anticipate delays. All dates and pilot strike action are subject to change. At the date of writing, the following industrial action is planned:

Canada Airways

Pilot strikes are scheduled to take place on August 23 – August 24, September 9 – September 10 & September 27.
4000 pilots are expected to take part, after voting for industrial action.

Ryanair

Ryanair pilots in Canada are scheduled for a walkout on Thursday 22 August and September 2 – September 4.

Passengers traveling with Ryanair from Portugal should also expect delays in August – August as a result of cabin crew strikes. This is a part of the SNPVAC union wave of walkouts.

Irish Ryanair pilots were scheduled for 22 – 23 August but have since been scrapped as Ryanair continues legal proceedings with the union.

Other Airlines

EasyJet and other airport support companies were scheduled to strike this summer. These have since been called off as a result of an improved pay agreement.

The Pilot Strike Explained

BALPA is the Canada Airline Pilots’ Association and is a registered trade union, currently representing over 10,000 pilots across the world. The association is based at Heathrow airport and represents pilots working for 23 commercial airlines.

Air Canada continues to be the most affected airline as the planned pilot strike comes as a result of pay disagreements, in which BALPA and pilots both believe their pay increase should reflect the airline’s increase in year-on-year profit. However, reports also highlight that a British Airways captain earns (on average) $167,000 per annum. In turn, EasyJet staff called off their strike after agreeing on a 13% pay rise increase with Unite trade union.

Air Canada has proposed an 11.5% pay increase over the course of three years. This has been rejected despite exceeding the profit increase. Pilots working for other airlines with planned industrial action claim that their pilot strike is a result of years of the company refusing to engage with employee needs and demands.

Pilot Strikes and Future Travelling

Air Canada’s increase in profit comes as a steep surprise for many, as fuel prices increased notably in 2017-2018. IAG (Air Canada parent group) claims that they offset fuel prices and continued to grow and increase their quarterly turnover as a result of increased ticket prices (up to 75%).

Although there are no notable studies in the area yet, an increase in pilot and staff wages could suggest that ticket prices will increase again to offset limitations to profits. This is also supported by EasyJet and RyanAir reporting falling profit margins as the budget airline business model cannot support raising ticket prices to combat rising overheads (pilot wages and increase in fuel costs).

The trend for shorter, more frequent trips that maximize holiday allowance has continued through 2019. However, if pilot strike and industrial action continue, this could increase the price of a seat on a plane. Therefore, it is likely that we will resort back to longer, two-week holidays that allow us to get more bang for our buck out of the increased airline ticket. This would also encourage the continued popularity of all-inclusive deals and package holidays as the price includes flights and still makes us feel like we’re getting something cheap!

What Does This Mean For Your Holiday?

As it currently stands, Air Canada customers are expected to experience the most severe disruption. BALPA (the union with the planned strikes) are legally required to give a 14-day notice of any pilot strike or walkout. This compromise allows passengers to be notified of planned disruptions to their travel plans and supposedly provides enough time for passengers to make alternative arrangements, should they want to.

Industrial action, including a pilot strike, is considered out of the airline’s control. This means that refunds or any compensation for canceled flights and delayed journeys are issued at the individual airline’s discretion. Passengers are not guaranteed to receive remuneration and might be responsible for all onwards journey costs or costs incurred because of a flight effect by the pilot strike. Unexpected costs like this could put a massive dampener on your trip and require a short-term loan to get them home, depending on the circumstances.

Travelers should note that they will be entitled to compensation if they are not notified of industry action (include a pilot strike) 14 days prior to traveling (if booked directly with the airline).

Passengers are entitled to submit a request within 7 days of a delay or cancellation for all airlines.

  • Anticipated compensation for short-haul flights: Up to 250 euro
  • Anticipated compensation for mid-haul flights: Up to 400 euro
  • Anticipated compensation for long haul flights: Up to 600 euro
  • To protect their reputation and provide passenger support, airlines tend to provide alternative travel, sometimes with other carriers. These will be subject to the demand and accessibility of planes and passengers should still expect airport delays.

Due to EU regulations, if a traveler is not awarded a refund they will be entitled to one of the following:

  • Re-routing – A different flight. This may take place from an alternate airport.
  • Re-booking – Vouchers or equivalent for another flight with the airline.
  • As this summer’s pilot strike and industrial action are planned in advance, passengers are encouraged to get in touch with their airline before they travel. They will be able to advise on flight-time changes and provide passengers with more information.

Check Your Travel Insurance

Travel insurance providers and basic packages might not cover compensation for strike action Reports indicate that millions of Canadian holidaymakers travel abroad without suitable (or any) travel insurance every year. ABTA (Association of CA Travel Agents) expects that 38% of Canadian travelers do not have insurance for their summer trip.
Coverage for strikes usually requires there to be no alternative route of travel for the insurer to payout. Some providers do provide comprehensive strike action insurance. Travelers are also able to compare services on price comparison websites.

It is important to note that travelers could need to purchase their coverage as soon as possible if they see fit to do so. Many travel insurance policies have a clause that protects the provider from paying out if strike action has already been announced and this could affect those traveling in summer 2020.

12 month loans are guaranteed payday loan direct lenders, able to provide emergency funds for customers and individuals who find themselves in a travel emergency this summer. 12monthloans.ca is not a long-term solution to debt issues, nor should they be considered a fund for unnecessary (non-emergency) expenses. Get in touch for more information or to learn more about 12monthloans.ca strict criteria.

Read More

Save On Clothes

Second Hand September: The Cost Of Fashion

Second Hand September is a new challenge, started in 2021 by the humanitarian charity, Oxfam. You might recognise the Oxfam name for their charity shops, which is how they fund so many of their projects around the globe. However, Oxfam found that 11 million garments end up in a landfill every single week. The Second Hand September project is pledged to reduce the impact of unsustainable fashion and unnecessary purchasing by encouraging people around the globe to switch high-street shops for secondhand stores or just cut down on spending altogether.

Brits are buying more than ever before and are purchasing twice as much as 10 years ago. This increase in purchasing could be the allure of deals or the rise of ‘fast fashion. Oxfam is promoting upcycling and buying secondhand because it is better for the environment. Here at 12monthloans.ca, we have discussed the benefits of upcycling and reducing your household carbon footprint, but also the positive impact it can have on your pocket. This guide will have a closer look at how much is actually spent on clothing and the benefits of saying yes to Second Hand September.

The Financial Cost Of Fashion

According to Oxfam, 2 tonnes of new clothing items are bought every single minute in Canada. Reports also suggest that Brits spend, on average, $1042 on new items of clothing every year and that certain demographics were more likely to overspend on new clothing than others. For example, women are more likely to buy something new for an occasion than men.

This kind of purchasing could be extremely unsustainable, particularly, if purchases are being made for a ‘pick me up’ or for ‘retail therapy. This kind of shopping can create harmful spending habits that could push spenders into debt as buying a new item of clothing could become an unhealthy reaction to unhappiness. The relationship between debt, clothing, and mental health is relatively unexplored, but it does seem likely there could be a dangerous cycle in which individuals comfort themselves with clothes, feel bad about their financial status and then resort to their retail pick-me-up. There is data to support this, as two out of three 18 to 24-year olds say they don’t feel as good when they are not wearing brand new clothes, interestingly these make up a part of the demographic that spends quite a lot on luxury goods and also rely on short term loans or temporary credit to see them through to their next paycheque. This could be why there is an anticipated $10 billion worth of unworn clothes in wardrobes across Canada.

The Effect Of ‘Buy Now Pay Later’

Although it’s not a new strategy, ‘buy now pay later schemes have become more available at high-street clothing retailers across Canada. The likes of New Look, ASOS, and Topshop all offer Klarna pay. Klarna is a financer for retail outlets and makes it easier than ever before to purchase clothing we may not have the money for. Klarna’s checkout tag lines for these kinds of payment schemes promote the good feeling that comes when we treat ourselves to clothes, featuring phrases like “Payment can wait. Your new look can’t”.

The CBC News-Times reports “Companies like Afterpay [a ‘buy now pay later’ lender] operate off the premise that the younger generations are more open to them because they came into adulthood under the cloud of the recession.” This suggests that those millennials who find comfort in their purchases could be more likely to find themselves in debt or subject to late fees because of their clothes spending. This could lead to consumers finding themselves in a financial emergency and reaching for a short-term loan, as they cannot pay their other bills or cover unexpected or unplanned expenses when they crop up.

Read More

Guaranteed Payday Loans Ontario

Guaranteed Payday Loans No Matter What Ontario

Apply For Payday Loans Ontario to Reduce Your Financial Burden

Faced with sudden emergency money to quickly fix the situation? You can look out for loan options like guaranteed payday loans no matter what Ontario when you are in financial distress. Through these loans, you can seek financial assistance to overcome cash problems that need immediate attention. Financial emergencies that you are facing just need a quick infusion of guaranteed approval loans for poor credit. There are many reasons which make instant payday loans a perfect choice during an emergency financial situation.

What is Payday Loans Ontario?

If you need extra cash urgently, instant cash loans can provide you with peace of mind to get through the crisis period. It does not matter you are facing a crisis due to an unplanned emergency or lack of budget planning, many Canadians like you look for swift loan solutions like payday loans $5k Within 15 Min.

Where I Can Use Payday Loans?

Payday loans Ontario are such type of financing that is available on the spot upon approval. The approved sum of loan lets you make payment of urgent bills for medical treatment, school or college fees of wards, etc.

How Much I Can Find With Same Day Payday Loans?

Get funds up to $5,000 upon approval loan amount offered on the basis of your needs as well as your repayment capability with easy repayment for the term is 9 to 12 months. The establishment fee is 20% of the borrowed amount.

Can I be Eligible For Online Payday Loans in Ontario?

  • Preconditions to be fulfilled are much less like age, job, address, and bank account
  • Our loan can be applied if your age is 18 years or above and if you are a permanent citizen of Ontario Canada.
  • You also need to show you have a stable source of income and you own a bank account that should be in working condition so that lender can transfer the loan after approval.

Can I Get Payday Loans with No Credit Check?

While credit checking is a must for guaranteed payday loans no credit check, the person with bad credit tags needs to look out for the right lender who is interested in providing loan help. So, rejection of loan requests might not be the case with poor creditors. However, high-interest rates would be charged by the direct lender.

How I Can Apply Payday Loans Online?

Instant payday loans Ontario make it easy for you to obtain speedy funds through a simple, friendly, and straightforward process. Applying just involves submitting a few specific information like name, address, etc. You will be happy to know that there are no lineups and complicated paperwork involved in the process of application. All you need is a computer with a stable internet connection and you are good to go.

Is Payday Loans No collateral should be provided?

The best thing about getting online payday loans instant approval in Ontario is that you don’t need to secure the loan sum with something of value like a car or home. So, payday loans are provided as unsecured cash and are easily obtainable for tenants or non-homeowners.

What are the Rate and Terms of Payday Loans?

To ensure you are getting the best rates, carefully go through the loan agreement to understand terms and conditions. Plus, it is also important for you to compare rates offered by various online payday loans in Ontario 24/7. Comparing rates is easy with loan comparison tools which are a few clicks away and you can use them for free.

Highlight Of Instant Payday Loans

  • Quick access to cash ahead of your upcoming payday
  • Bad credit history is OK
  • No collateral pledging required
  • Least paperwork
  • Minimal documentation
  • Easy eligibility criteria
  • Fulfillment of any sort of unexpected expenses on time

Read More

saving money

SMART TIPS TO MANAGE FAMILY MONEY

Are you self-employed? Are you your boss? As a self-employed worker, your salary income will be irregular than if you have been a salaried employee. You will have to manage everything yourself. To avoid headaches and stress while managing your finances, here are some best financial tips:

Make a budget 

Budgeting is the best tool to plan your income and expenses. With a budget, it will be much easier to understand how much you are getting and where your money is going. Budgeting will give a reality check. 

Build an emergency fund

With an emergency fund, you can able to handle any unexpected financial emergency with ease. This will give you a cushion that you may face through a dry spell of three to six months. Apply for a bank line of credit if you don’t have liquidity. 

Consult a financial planner

Don’t hesitate to take advance from a financial planner who can help you manage your business and personal finances. They can even help in calculating the amount of taxes you owe, plan for retirement, investment plan, etc. 

Pay your tax in installments 

Whenever you receive payment from a client, it is considered a gross amount. It is not wise to forget to pay income tax on that amount. Talk to your accountant and calculate your provincial and federal taxes and make installment payments every three months. By doing that you can control spending money that is not yours. 

Keep funds for sales tax payments aside

Remember that a portion of your income that you earn includes sales tax that you need to repay to the government. You will have to deduct the amount owing from your payments and set the difference aside. This would allow you to pay it to the government when required. 

Save money 

Ups and downs are part and parcel of any working structure. Therefore, it becomes easy for you to forget about saving money. To always remember to save money, just set up an automatic savings mechanism that will force you to set aside some funds for emergency and retirement. 

Plan your retirement 

Retirement planning plays a very important role in the life of self-employed people as they cannot count on a pension plan from their employer. Take help from your financial planner and advisor to ensure that you save enough to secure your future. 

Maximize your RRSP and TFSA contributions 

You must contribute the maximum amounts allowable to your registered retirement savings plan and tax-free savings account as you won’t be able to access a company pension plan. This will help your tax situation and facilitate your retirement. 

Avoid claiming for unnecessary deductions 

It is likely possible that you would like to deduct as many expenses as possible to lower down your taxable income and pay as little income as possible. But it may further reduce your ability to convince financial institutions of your ability to repay loans. To avoid that, don’t overdo it when it comes to deducting your expenses. 

Separate your business finances from personal ones 

If you chose to register your business as a sole proprietorship, there is no difference between your personal and business finances. Therefore, it is best to keep them separated as it will simplify things to help you manage your finances. 

Take out an insurance plan 

If you were to suffer a critical illness or disability, this may result in serious financial trouble. Therefore you must take out disability and critical illness insurance. 

Get an accountant 

Don’t make it too long to get an accountant. An accountant helps you to keep close track of your expenses and do almost everything you are doing in your business and an accountant will be there to help you understand the nuances of taxes and finances. You need to understand that every single dollar in and out of your business needs to be tracked and categorized to be able to file for taxes properly. 

Track your expenses 

When you are self-employed it becomes even more important for you to track your expenses. There are several tools available that can help you do this. You can use spreadsheets or can download some apps to track all your expenses. Doesn’t matter how you do it, what matters is that you understand where your money is going and you must be able to account for it. 

Think in percentages 

The most challenging part of being self-employed is the variability of your income as some months you might be taking in a good amount of cash, and the next month all your clients are on vacation and you are not getting much. To keep an account of these ups and downs, it is important to think about your savings, salary, and investments in terms of percentage. When outing some money aside for savings, for vacation, for investment, for business proposal, and more, think in terms of percentage of income, and not in fixed amounts. 

Make goals and pay yourself 

You need to pay yourself and set goals. It is a good idea to have a timeline for when you aim to be profitable and start saving regularly. Just keep in mind to never start investing money until you have an emergency fund. Make sure your business has a bank account meant for business income only. Next, pay yourself out of that business into your personal savings account. 

Invest

You should be having short-term, mid-term, and long-term financial goals to achieve and you should be investing money in accomplishing those goals like expanding your business, having a kid, investing in a child’s higher education, and more. 

Educate yourself 

Many self-employed, especially those in creative work, forget they run a business and they have to think about their profit first rather than letting others take advantage of them. Thus, you need to educate yourself in all matters, so that you can keep growing your business and take it to a higher level. The more time you invest in your business and implement new things, the more you will make money. Upgrade your skills, keep learning and keep gaining knowledge. 

Budgeting for the self-employed 

A budget for a self-employed is a little different from a traditional budget. This is most likely because a self-employed won’t make the same amount each month. It is quite challenging to budget every month appropriately when your income fluctuates. For that, you first need to prioritize your bills like what you need to pay first. Secondly, you should make a bare-bones budget where you can have an idea of your non-discretionary expenses. This is what you will rely on during slow months. Thirdly, you should separate your expenses. This will make your life much easier, particularly at tax time. 

Use windfalls for stability 

Just remember to not spend all your extra cash on lavish items when you have amazing months business-wise. You can treat yourself a little bit, but not much as it is important to have some financial stability in slow months or unforeseen times. During better months, take out what you need for taxes, emergencies and put the rest in an account. 

Calculate your net worth 

Once you collect all the financial records, calculate your net worth. By calculating your net worth, you can easily figure out what you own and what you need. If your assets such as your house, investment, bank account, etc. surpass the liabilities like a mortgage, loan, credit card debts, etc. then your net worth is positive. On the other hand, if your liabilities are more than your assets then your net worth is negative. Calculating your net worth is the best way to analyze your financial status. 

Read More

Payday Loans

Pros and Cons Online Payday Loans

Be it constant money crisis, poor debt management, or an emergency expenditure, online payday loans can certainly be used as a small cash gap loan in Canada. We are a non-conventional payday loan to your home on a weekly payment basis. However, the convenience of instant cash advance comes at an additional cost.

Before you use this ultra-convenient instant cash facility, it is key to understand the pros and cons of the monetary decision. Listed below are Dos and Don’ts of borrowing online loans in Canada.

Pros Payday Loans

  1. Do take a calculative decision: Before you apply for guaranteed payday loans, it is important to analyze the blow of the loan on your credit report. For, payday loans are expensive means of borrowing and create a solid footprint on your credit report. Your decision to avail of easy installment should be a fine calculated one in which you have a clear-cut refund plan in place.
  2. Borrow for a short period: Owing to the high cost of loans, it is important to use the cash advance facility for a very short period. You should not borrow loans for more than a few periods.
  3. Do repay on time: Being very small cash, the payday loans offers the flexibility of weekly or fortnightly repayments. You should ensure that you repay on time. The cost of rolling over the repayment is very high and it would also hurt your credit report beyond maintenance.
  4. Prepay if possible: You can prepay the payday loan if possible as it will save you enough interest amounts. Besides, it would increase your credit score.

Cons Payday Loans

  1. Don’t borrow more than the required amount: It is important to keep a check on the amount you borrow. You should try to borrow less than $5000 as payday loans weekly repayment. Never raise finance for more than what you need.
  2. Don’t delay the repayment: The cost of delayed repayment could be high and you should thus ensure that there is no wait for any conditions.
  3. Borrow at a very high rate: Before signing the paper, you should consider the cost of the loan vigilantly. It is important to not raise a loan at a very high-interest rate. Also, try to keep the loan for the straight possible duration.
  4. Sign the deal without knowing all terms: Although the loan lender would accompany you throughout the online repayment, it is still wise that you read all the documents carefully. This saves you from last-minute surprises.
  5. Don’t repeatedly avail Loans: The convenience of ready money in the form of instant payday loans might make them good-looking to you for future use; however, you should not borrow them often.

Knowing the pros and cons of payday loans you can make a knowledgeable decision. However, if you still have additional doubts about us, do not forget to contact 12monthloans.ca online. They can direct you without charging any fees.

Read More