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Cash Loans – A Form of Memory Test

When you find yourself constantly availing of cash loans, maybe you need to pause for a while and reconsider your spending habit. When you have been checking out some websites of lenders that offer payday loans online, maybe you need to re-evaluate yourself.

Maybe, just maybe, you are spending way too much. Maybe, you are taking your spending a notch higher even if your salary remains on a steady pace.

When you are getting cash loans one after another, maybe your need to re-check your memory bank. In a way, cash loans can be a test of memory. Let’s find out how:

1. It tests your memory on the basics of budgeting.

Everyone operates on a budget. Come payday, you are even surprised to find out that your salary is already consumed even though you’ve not spent a dime yet. You’ve allotted portions for bills and loans payment, and food and transportation allowance only, yet you feel that there’s nothing left for you to enjoy.

How come? How did this happen? Well, maybe, you are not heeding the basics of financial management. Maybe, you are going overboard your bills allowance – making thousands of international telephone calls, for instance – but you’ve allotted the usual minimum payment. A deficit will truly register.

Maybe, you are overspending, and under-budgeting. Yes, if you have been confronted with this kind of situation payday after payday, if you have been constantly availing of cash loans (such as payday loans in Canada), maybe you need to study financial management again. Truly, relying on memory recall alone has not worked excellently for you.

2. It tests your memory on simple math.

Computing the interest rates of cash loans is simple. You don’t have to a Certified Public Accountant to be good at this. You think that availing of cash loans is okay because the interest is just reasonable – given the ease and convenience associated with getting one. What you don’t know, is that when you really look at it, the interest rates imposed by quick loans lenders is huge.

Typical cash loans charge between 15% – 20% in interest rates. At the outset, it seems manageable. What is 15%? But if you really look at it, you get to pay up to $17.50 for every $100 borrowed, for instance. If you loan $300, then you are paying $52.50 just for interest alone. And when you total the principal and the finance charge (interest rates plus other charges), you are paying at least $352.50.That is enormous!

See, knowing how huge or how small your payables are does not take a degree in mathematics. It doesn’t even require a calculator for you to compute how much you should pay back in exchange for quick cash. So the next time that you think of getting a loan, have your calculator ready and compute first. Then see for yourself the interest rate is worth the hassle.

This is not to say, however, that getting cash loans is bad and that you should never avail of them. Instead, this implies that you should be more careful when deciding to get cash loans – or any kind of loan. The allure of quick and easy money may cloud your judgement. By thinking about how easy it is for you to get a loan, you forget about the fundamentals. You forget about interest rates and payment time.

Indeed, cash loans, in a way, test your memory. They subject you to the basic memory tests: simple match and simple financial management.

Loans Till Payday – Payday Loans and Cash Advance in Ontario, Canada
20 Eglinton Ave. East
Toronto, Ontario, Canada
M4P 1A9

United States Cash Loan

If you are a citizen of United States then you are eligible for applying to united cash loan. Individuals with nationality other than U.S. are invalid for applying for united cash loan. Like other cash advance loans united cash advance loan also gives you fast cash. Within a day of applying for the loan you can get money deposited into your bank accounts that you can use for paying off your dues. And once you get your monthly salary then you can repay the loan amount back to the loan office. Along with being an U.S. citizen you should be above the age of 18 and should be working on a regular basis. One more condition for applying to this loan is that you should have monthly income of above 1000 dollars.

United States cash loan is a short-term loan and hence the repayment has to be done within two to four weeks. In case your salary is less than $1000 then you will not be given the right to ask this loan, in that case you can consider some other options available online. The application form can be filled online too. You will have to give your detail information in this form like name, age, contact details and address. You will also need to give your bank account number and your employment details. In case you have some references then you can mention them too on the application form. Once you fill all the information submit the online application form. The loan officer will check your application and after finding you as a genuine person he or she will grant you the loan. The loan money asked by you will be deposited to your account.

One more benefit of united cash loan is that the interest rates are much low compared to other private finance companies. If you are able to pay the money back on or before the due date then very good otherwise you will have to pay extra money and the repay due will increase as the day passes. Hence in case you are thinking to take the loan money and then pay as per your wishes then better to consider long-term loan options or else you will get into a heavy debt. Apply for united cash loan only if you are very sure that you can repay the money with your next salary. You will need to submit the money in your account from where the loan officer will remove the money on the due date. In case you are unable to pay by due date then you can ask for some more time but in that case be ready to pay the increased amount.

United States cash loan is the best loan facility available to the U.S. citizen, as it gives the urgent money need by you and that too at lower interest rates and without asking for any documents from you or checking on you by calling your employers. Hence everything about your loan remains very confidential.

Cash Loans UK – Cash in UK

Salaried persons often suffer from the shortage of liquid cash at their disposal when a situation springs out asking for immediate financial attention. Cash loans are preferably designed for these instances only. Cash loan can be understood as the synonym of cash advance loan, post dated cheque loans, deferred deposit loans or payday loans. They are usually small term loans and the amount disbursed under cash loans is also relatively small. They are generally taken to meet the daily requirements in case one is suffering from momentous shortage of cash. The loan is usually available in unsecured form.

Cash loans: Amount and interest rate

Being short duration loan these offer an amount ranging from £ 1,000 to £25,000.The magnitude of the amount also depends on your repaying capability which in turn is reflected in your monthly salary, debt to income ratio, equity in the assets (in case you intend to go for secured loans) and credit history. The loan amount is priced at a larger interest rate compared to other. This is because the loan is given for a very brief duration and more often than not the loan is unsecured in nature. To a borrower the larger interest rate, at first glance, may seem to be distracting factor, but one should keep into account that being a short termed loan the total amount one has to repay is not much .

The numerical growth in lending institutions has led to a predatory lending which is pleasant for loan seekers as they are open to negotiations. But to be able to clinch the best available deal one should gather as much information as possible. One should visit number of lenders and talk to persons who have secured these loans. If one can’t afford this due to any constraints then he/she can use Internet. Now a day almost every bank or financial institution has a site of their own all you need to do is to submit your requirements in an online form and they will come back to you with quotes, this will enrich your knowledge at the comfort of staying indoors.

Obtaining Cash loans:

To get the loan you need to fulfill some eligibility criteria, the variations solely depends on the lenders discretion. Some common requirements are as follows:

o You should be a resident of UK and above 18 years of age.

o You should be a salaried employee and should furnish the documents primarily your pay slips, bank statements etc.

o You should have a bank account, to help in transactions between you and the lenders.
Apart from this, lenders may ask for a post-dated cheque with an amount equaling the processing fee, loan amount and interest. This is done in order to protect the lenders as defaulting in repayments can be negated by encashings the cheque.

Cash Loans: uses

One of the most advantageous things concerned with cash loans is that they are disposed within 24 hrs of application as not much verification is necessitated. These loans find their usages in meeting some unbudgeted expenditures like paying for medical bills, getting your car mended etc.