Top 10 Ways To Borrow Money

| September 19, 2013 | 0 Comments

Borrow Money

All our life is about choices. Sometimes we make right and from time to time we make wrong choices. Let’s talk about all the options you have available in times of financial difficulties. So what is the best place for borrowing money today? Here are the variable choices.

Zero per cent on new purchases credit cards. The main idea of such credit cards is that let you make a big purchase and repay the cost during eighteen months period of time for free. You are going to need minimal payments and clean your debt before zero per cent deal ends. In case you fail to do this, you will not be able to avoid quite huge penalties.

Turn to zero percent balance transfer credit cards. Transfer your debt from your credit cards to another one that has zero percent deal for at least one year. There will be some small fee for this transfer and please do not forget to close your credit cards to skip the temptation to use them every once in a while.

Payday loan. This is a good option for short-term borrowing money. Cash loans is the best help when unexpected money need arise. They are easy to get, but since time is limited to around 1-2 weeks it s better to return borrowed amount on a set date. If you will not make the payment, you will face high fee percentage.

Secured loan. This can be a good option if you feel confident about returning your debt on time. Such loans are usually secured against your home or a car. For some remortgaging might be a better option to choose from.

Personal loan. If you are interested in this option then you need to know that it is good to go for actually 6 % and 7 % APR, but think two times if a moneylender gives you any advance at a higher rate than they promoted.

Credit union. This is actually a pretty good option, since credit unions will most likely offer you some really good terms and services. According to what you do for living and where you live you will be able to apply for credit union membership.

Social lender. Consider turning to such social lenders as RateSetter, Zopa or Yes-Secure. They will be able to provide you with very flexible terms. Despite being quite new service, these companies already have good feedbacks which make them reliable for customers.

Credit cards with low interest. In order to be able to apply for this type of card, you will need to have good credit records. Repayments will be flexible, but still make sure to pay everything off as soon as possible. Interest rate will be 6 and 7 per cent.

Remortgage. This option will allow you either to borrow more to set a small business or maybe do an extension for your payments. But it can be pretty expensive if you will decide to go with this decision. Just do a little calculation to see how it looks like if we are talking about longer period.

Your friends and family. This is the best option as for me. There will be no strict regulations. But what is the most important, you will not need to pay the interest rate that is exists in every option described above. But in any case, do whatever it takes to stay debt free! Learn to manage your finances and everything is going to work for you.

Category: Payday Loan

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