Loan agreement on a table and dollars.

Why No Credit Check Loans are Your Solution to Unexpected Expenses

April 1, 2018
, , Bad Credit Loans 11

Nearly 1 out of every 5 Australians would struggle to come up with $500-$1000 to cover an emergency expense.

That means when a tyre pops, an injury occurs, or a roof needs repair, almost 20% of the country is left scratching their head, wondering what to do.

For many people, the solution to this problem is obtaining a loan. Loans can be an easy way to get past an emergency financial stumble between paychecks and are relatively easy to get at any financial institution… for people with good credit.

Life throws curveballs at you, and you’re not always able to afford them. Fortunately, no credit check loans can help you during these times. Here’s why.

But How Can You Get the Help You Need If Your Credit Is Average or Poor?

If you’re one of the millions of people around the world struggling with credit issues and need access to temporary financial support to get through a difficult time, no credit check loans could be the solution you’re looking for.

What Are No Credit Check Loans?

No credit check loans, as their name suggests, is money you can borrow from a loan provider without the need to have your credit checked. Loan amounts vary from provider to provider but on average can range from $50.00 to over $1000.00.

Approval is based mostly on verifiable income, the application process is non-invasive and you can have the money you need fast.

If any of the following apply to you, you may want to consider getting a loan that does not require a credit check:

  • You have a poor credit history
  • You have no established credit history
  • You need quick access to fund an emergency expense (car repairs, home repairs, health expenses, etc.)
  • You want to apply for a loan that specialises in helping applicants with below excellent credit

Why Choose a No Credit Check Loan over a Traditional Loan?

While loans without credit checks are generally associated with customers that have below average credit, know that even people with excellent credit may opt for this type of loan for a variety of reasons.

Traditional loans tend to require large amounts of paperwork and paperwork means progressing time. No credit check loans generally process faster since less information needs to be verified to get your loan funded.

Also, getting your credit checked may hurt your credit score.

There is a lot of varying information on this topic, but the key to understanding which kinds of checks harm and don’t harm your credit score depends on the type of credit check being conducted.

There are two types of credit check inquiries, hard and soft.

An example of a soft credit check is when you use an online service to look at your own credit score. This type of check should not affect your credit.

Hard credit inquiries (or hard pulls) are the type of credit checks that are generally required by lending institutions. With a hard check, lenders request a more in-depth look at your credit history to determine whether or not you are eligible for the loan they are offering

Hard inquiries can damage your credit score between 5 and 10 points which can be a big difference to borrowers.

For that reason, many people, regardless of the type of credit they have, may opt for no credit check loans.

Why Do Lenders Offer Loans Without Credit Checks?

Large amounts of prospective customers looking for loan products, through no fault of their own, have poor or no established credit. The reasons why people have poor or no credit vary and taking the time to understand those various reasons is why no credit check loan options are a safe bet for lenders.

For example, not having credit history can be a result of your age. Somebody who is going to college for the first time and needs extra cash to pay for moving expenses should have options to attain the money they need to get to where they need to go.

The same goes for people with poor credit. Many people have temporary lapses in employment which results in unpaid bills that can damage their credit. This temporary hardship is not an indicator of their willingness to pay back their loans in the future and therefore, they don’t represent a significant risk to lenders.

Considering those two things:

  1. The number of prospective customers with less than excellent credit
  2. The low pay-back risk many of them pose since their credit issues were out of their control

is why lenders have developed loan options that are mutually beneficial to both them and borrowers in the form of no credit check loans.

What You Need to Get a No Credit Check Loan

Requirements vary from lender to lender but generally, all you’ll need to qualify are:

  • Verifiable income
  • An active bank account
  • And be of legal age to take out a loan

To Sum It Up

If you’re in need of fast cash for life’s unexpected occurrences but are worried that your credit history will stop you from getting the help you need, no credit check loans can help.

Loans that do not require credit checks are a safe means of getting the money you need and rely almost solely on your verifiable income for qualification. Credit is not a factor and will not be checked during the application process.

Why You Should Apply for No Credit Check Loans

Click To Tweet

How We Can Help

At Cigno Loans, we offer no credit check loans that are tailor-made for your particular financial needs. We believe in responsible borrowing and lending and to that end, one of our loan advisors can guide you through taking out a loan that fits your lifestyle and gives the help you’re looking for.

We help people through tough financial situations every day. We fully understand the pressure they’re under, and after we’ve given them the help they need, they come to find that our team is more understanding than other lending institutions.

Remember, we’re here for you every step of the way. If you ever need help with any of your lending-related questions, let us know!

If you’re interested in a loan that won’t check your credit and offers competitive rates, you can apply today!

Read more about loan advice, money saving tips, and finance on our blog!

loan application in business folder showing financial investment concept

How to Lower Small Loan Interest Rates

March 26, 2018
, Budgeting 1

There’s nothing wrong with having to take out a loan. In fact, it can be a great way for entrepreneurs to acquire the money they need to get their business off the ground.

However, people tend to run into problems when they don’t properly budget for paying back the money they borrow. Sometimes, though, it’s not always entirely the borrower’s fault.

No matter how solid their repayment plan is, some people who take out a loan are crippled by sky-high interest rates.

This isn’t only true about large loans, either. Small loans can be as difficult to pay off as bigger loans if the interest rate is high enough.

Luckily, there is plenty that you can do in order to lower your interest rate. Let’s take a look.

Is paying off your small loans becoming too expensive? Use this guide to lower your interest rate.

Borrow for a Shorter Term

When you borrow money for a shorter period, the lender has to spend less time monitoring your payments and making sure you’re on track to repay all of your debt.

The lender will also get their money back (plus interest) earlier. Thus, they may be inclined to offer you a lower interest rate if you sign an agreement to pay back your small loan over six months as opposed to two years.

If you know that you may have difficulty paying off loans, a shorter loan term can help keep the total interest that you incur as low as possible.

Improve Your Credit Score

One of the factors that lenders use to decide the interest rate of a loan is how reliable the borrower seems.

If a potential borrower has a stellar credit score and a solid history of making payments on time, then there is no need to give them a high interest rate.

Conversely, people with low credit scores and spotty repayment history will find themselves with higher rates than their more responsible financial peers.

But, there’s good news! If your credit score is poor or on the lower end of the average range, you can work to improve it before seeking out a loan. This will ensure you pay a smaller total amount than you would otherwise.

It’s still possible to get a loan with bad credit, but it’s unlikely. Even if you do, you’re not going to like the interest rate that comes with it.

Choose a Variable Interest Rate

Most lenders offer borrowers the option to choose between either a fixed interest rate or a variable interest rate. As both names suggest, the titles have to do with whether or not the interest will change during the repayment period.

A fixed rate will remain the same for the entire duration that the borrower repays the loan. But, this type of interest rate tends to be on the higher side.

On the other hand, a fixed interest rate could potentially result in you paying less when all is said and done.

Inflation, supply and demand, and government regulation are all factors that influence standard interest rates.

By doing a bit of research, you’ll be able to determine whether interest rates are going to rise or fall in the near future with a fair bit of accuracy.

If interest rates appear to be on a downward trend, choosing a variable interest rate is the better of the two options because the rate is unlikely to rise throughout the duration of your loan repayment.

Browse Different Lenders

It’s very unlikely that you’ll ever have only one lender to choose from. Similar to dealing with any other professional service, you have the capability to shop around for a lender that’s right for you.

Even if two lenders are in close proximity to each other, the loan terms and interest rates can be drastically different.

Thus, you should always take the time to browse if you feel as though the interest rate a lender offers you will be an issue.

Sometimes, however, you may have to compromise. Lenders who offer lower interest rates may not offer the right small loans options for you. Be wary of this during your search.

Offer Collateral

As previously mentioned, one of the ways lenders determine interest rates is by assessing how much risk they’re taking by giving money to a specific borrower.

If a lender is not confident in your ability to repay the loan during the specified time period, you may want to offer collateral in order to sway their decision.

Collateral could include a wide range of assets that you have, such as your home, your car, or even investments that you have. Should you fail to repay your loan, the lender would have the legal right to take your collateral as a form of payment.

Due to this, you should never offer anything for collateral that you’re not prepared to lose.

If you do choose to put up something vital like a car or house, you need to be absolutely sure you can repay the loan.

Have a Friend or Family Member Cosign

If you’re having trouble managing your small loans due to the interest rates, consider having a friend or loved one cosign the loan agreement with you.

This process is similar to collateral in that it can cause a lender to have more trust in you if they were on the fence about whether or not you would be suitable for a loan.

However, you should understand that failure to repay the loan under the given terms can have detrimental effects on your cosigner. Credit score penalties, late fees, and even wage garnishment are all possible.

For the sake of the other individual and your relationship with them, never have someone cosign a loan (even small loans) if you are not prepared to pay them back in full plus interest.

How to Lower Small Loan Interest Rates

Click To Tweet

Even Small Loans Can Be Difficult to Manage

But, reducing your interest rate as much as possible with the above tips will make sure they are easier to handle. And, you’ll keep your family and friends out of trouble, too.

Small loans can sometimes be a necessary part of life, but you should only take them out if you can repay them. Want to learn more about managing your finances? Check out our blog.

Business people hand working with document chart for Mortgage loans concept

Common Requirements for Fast Cash Loans

March 21, 2018
, Short Term Loans 2

With more Australians than ever currently in debt, chances are that there have been a few times in your life when you just wish you could get your paycheck early.

Maybe you need to make an important purchase. Perhaps you’ve been faced with unexpected medical challenges, are currently unable to work, or just need a little help getting your finances back on their feet.

Do you need fast cash loans? Learn the common requirements before applying.

Whatever the reason, you’ve likely already thought about applying for cash loans.

But what will those giving you the loan require of you? Are you eligible for these types of loans? If so, what sort of information will you need to provide?

We understand that you have lots of questions.

In this post, we’ll tell you the most common requirements when it comes to cash loans.

Understanding Cash Loans

Before we get into the requirements associated with these loans, let’s first make sure you understand exactly what they are.

In a nutshell, these types of loans are meant to be a short-term financial solution. They are typically given in smaller amounts, and often carry a higher rate of interest than other types of loans.

The amount that you’ll be eligible for when it comes to these loans depends on how much you make, as well as the specifications of the institution giving you the loan.

Many people apply for cash loans when they need to cover their bills and don’t currently have enough cash in their bank accounts to do so. They may also be used to pay off your credit card debt, pay for a car, or so that you don’t have to ask your friends or family for money.

The good news?

These types of loans are incredibly accessible, and they don’t usually have lots of the requirements associated with other loans.

Now, let’s take a look at those requirements.

Common Requirements For These Loans

As we mentioned earlier in this post, cash loans are one of the easiest loans to both apply and get approved for.

In general, the requirements are fairly minimal.

First of all, you must be a minimum of 18 years of age. You also need to prove that you have a checking account, which you can prove by bringing in a copy of your bank statement to your appointment.

You’ll also need to show a proof of income. This can be a letter from your employer or a pay slip. You’ll also need to give some form of government-issued identification to your lender, as well as your social security number.

More good news?

The process of applying and getting approved for a cash loan usually happens fast. In some cases, you can even be approved in as little as about half an hour.

You should be sure, however, to ask about the lending fee associated with your loan. If it’s too high to make it worth it, then you may want to consider working with another lender.

Keep in mind that the complete list of requirements will likely vary based on the specific lender that you’re working with. In some cases, you may even be able to apply for your loan online.

In addition to asking questions about interests rates, loan terms, and possible amounts, always take the time to ensure that you do actually meet the requirements of the loan.

More Information On Cash Loans

With Australian households officially carrying the most debt in the world, we want to ensure that you can make a clear decision about whether or not cash loans truly are the right option for you.

Especially because of the high interest rate, make sure that there’s nothing else you can do before applying for this type of loan. Contact your landlord and any heating and water providers to see if you can create a better payment schedule.

If you apply online, you may need to wait for a few days before you receive your money. So, if you’re truly in a bind, it may be best to go to a bank directly or meet with a more local lender.

When you decide on the amount of money you borrow, make sure that you have a plan in mind for how you’re going to pay the loan back. Talk to your lender about how much you can afford to borrow, and discuss all possible repayment plans.

Make sure that you also ask about the possibility of any late fees or penalties associated with a lack of ability to pay the loan back in time.

Common Requirements for Fast Cash Loans

Click To Tweet

In Need Of Cash Loans Fast?

We hope that this post has helped you to better understand the requirements you’ll need in order to be approved for cash loans.

Keep in mind that, above all else, the lender that you work with will have the biggest influence on the requirements, terms, and amount of your loan.

So, when you’re considering applying for these loans, make sure that you do your research and ensure you’re working with the lender that’s right for you.

That’s where we come in.

We invite you to spend some time on our website to learn more about the way our loan structure works. You can even apply online for your loan, which will help you to save even more time and make the process especially convenient.

No matter the reason why you need money now, we want to help you to get it. Get in touch with us today to get started.

coins on a table

Understanding Different Types Of Small Loans

December 26, 2017
Short Term Loans 2

Small loans are used everywhere in the world in a number of applications. Find out more about what Cigno Quick & Fast Cash Loans can do for you. There’s some really helpful information on our website if you’re thinking about applying for a Loan.

When money drama strikes, sometimes the only way to adhere to your financial demands is by taking out a small loan, and paying it back in regular installments.

Due to their increasing popularity, the various types of loans have needed to adapt to today’s environment.

That’s why the terms and conditions, in most circumstances, are relatively simple!

Basically, all you need to do is pay back the money you borrow, at a percentage of interest agreed upon.

How are small loans different to others?

 Small loans differ from house and car loans because they aren’t required to be supported by any asset.

In most cases, identification and a brief financial history, such as a bank statement, will suffice in your application.

Another difference is their use. Whereas house and car loans are applied to exactly those things, small loans can be used for anything, including tackling financial dismay.

Generally speaking, small loans can be acquired to assist in meeting any personal needs. For example, if you have an upcoming wedding that needs financing.

A borrower could even kickstart his or her own business venture!

What are the advantages of small loans?

The obvious advantage in acquiring a small loan is the ease of process. Apply; show proof of identification; handover a bank statement. If successful, voila!

However, most lenders do not tolerate using small loans for suspicious purposes such as criminal activities and gambling.

Another great advantage of small loans is the available information out there. Take a look at this list of great financial websites. You’ll find everything you need to know, including insights from industry experts.

Reasons why small loans are effective?

Small loans are being offered locally, nationally and globally at affordable interest rates. Cater to your current financial crunch! The documentation process and procedure is very straightforward.

Understanding Different Types Of Small Loans

Click To Tweet

Generally, they can be applied in less than 24 hours. That means, you could receive funds, as you need them, in your account within hours.

There’s great stuff out there on the net for all types of borrowing. Learn more about choosing a loan here

Or you can visit our previous blog post for more information: What Are Payday Loans? Your Guide to Understanding Payday Loans

gears financial support

What do people mean when they say “centrelink loans”?

December 22, 2017
Budgeting 2

If you’re in a bit of a financial situation, there’s nothing to be embarrassed about. Everyone, at some point or another, experiences economic expectations beyond his or her budget or savings. These situations include emergency repairs to a vehicle, health expenses, or even loss of employment.

Head over to Cigno’s Bad Credit Loans page for more information and assistance in finding a loan solution for you.

But here on our blog, we’re talking about Centrelink loans.

Firstly, what is a Centrelink loan?

In a nutshell, Centrelink is a benefits program specifically fashioned for the people of Australia under the government department of Human Services.

The aim of the Centrelink is to offer assistance to pensioners, students, people with disabilities and those experiencing financial hardships, lower income or unemployment.

In some cases, a Centrelink loan, otherwise known as an Advance Payment, can benefit individuals and families in mild financial crises. People who apply for Centrelink loans are often seeking money to assist in paying for expenses.

Depending on the type of benefit you receive, and the maximum and minimum payment amounts, a lump sum could be deposited into your account as an advanced payment to aid temporary monetary issues.

How are Centrelink loans applicable to me?

Centrelink loans are often confused with bad credit or quick cash loans. In either situation, they aren’t able to change your entire financial situation, as you’re only borrowing money. But, a loan could save you from more dramatic financial implications.

For more information about types of cash and personal loans, check out this article: There’s some great information out there about various types of cash and other personal loans. Doing some research never hurts. Check this article Personal Loans – What You Need to Know

The Centrelink advance payment, or any other loan is immediate cash, which you can acquire by filing some documentation and adhering to a lender’s procedure.

If Centrelink doesn’t approve your advance payment, you may be eligible for the Cigno service. Help is always available, no matter your circumstance.

Requirements and rules for acquiring a Centrelink advance payment loan

Centrelink advance payments are approved every day. But there are some requirements and regulations for acquiring them. For example, you must be over 18 years of age and must provide a valid proof of identification and age.

You must be an Australian citizen to receive this benefit. The applicant must also provide pay slips or a proof of net income, and your credit history is also taken into consideration.

What do people mean when they say “centrelink loans”?

Click To Tweet

If your credit history is bad, but you’re still in need of some financial stimulation, you can apply for a Bad Credit Loan with Cigno. Call us today!

Read more about borrowing with us in this previous blog post: Bad Credit Loans: It’s Still Possible to Get a Loan, Even if You Have Bad Credit.

Business Man Pointing the Text: Bad Credit? We Can Help!

Bad Credit Loans: It’s Still Possible to Get a Loan, Even if You Have Bad Credit

November 29, 2017
, , Bad Credit Loans 17

Do you find yourself unable to get ahead?

No matter how you manage your money, how much you save or how many extra shifts you take, you just can’t seem to get a break?

Finances seem to work in cycles: if you are in a good place, you can use that to make investments and wise purchases.

If you find yourself in a bad place, it seems there are few options that don’t put you further behind.

Sometimes all you need is a loan to gain an advantage. While it probably isn’t enough to pay off your debts, it can be what you need to get started.

But how do you even qualify for a loan with bad credit?

Below we’ll look at the advantages and disadvantages of a bad credit loan, and what options you have.

What Is A Bad Credit Loan?

What is a bad credit loan, anyway?

A conventional loan is usually tied to your credit score. By having proven your ability to make smart financial choices, the lender will offer an amount of money at a set interest rate. Having a high credit score usually results in a lower interest rate.

These loans are generally high-dollar value and can be long-term.

Bad credit loans, on the other hand, are for people who can’t count on their credit score to provide them with a loan.

What Causes Bad Credit

Having a bad credit rating can make it very difficult to gain financial advantages. Things that can cause someone to have a poor credit rating are as follows:

  • Late payments
  • Failure to pay
  • Owing collections agencies
  • Filing bankruptcy
  • Foreclosure

What the above all have in common is the failure to satisfy a financial agreement. Whether it’s the failure to pay off a credit card or letting a phone bill go to collections, accepting money, products or services without paying them back will hurt your credit score.

How Bad Credit Loans Can Help

There are two major ways a bad credit loan can help improve a difficult financial situation.

The first helps manage the short-term stress of being in a difficult situation while the second can actually help you turn things around for the long-term.

Get Some Breathing Room

One of the most difficult things about having money problems is feeling trapped. It can be overwhelming to be unable to meet your needs when money seems to go quicker than it appears.

A bad credit loan can help give you a boost. By receiving a lump sum payment, you can often get a handle on the most immediate concerns.

Being free from those pressing issues can give you the breathing room you need. Take it and make a plan for how to keep moving forward.

Better Your Rating

Believe it or not, but that bad credit loan can actually be your key to improving your credit score.

By borrowing money and paying it back on time, you’re actually demonstrating your ability to be financially responsible. Taking out one loan and paying it back won’t immediately improve your situation, but it helps. Most importantly, it puts you on the right track to make real and meaningful improvements.

Where to Find Help

People with poor credit ratings are often too risky for the big financial institutions.

This can lead you to a number of smaller organizations that offer smaller, shorter-term loans that aren’t dependent on your credit rating.

There are things to be careful of, though.

As people in this situation can be quite desperate, there are businesses out there designed to take advantage of that desperation.

Taking a loan without properly understanding the terms can actually have a much worse impact on your situation, regardless of what temporary relief it may offer.

Especially with the rise of the internet, it’s never been easier for scam agencies to target those in need.

Some things to look out for are:

  • Upfront fees
  • Collateral
  • Unregistered business
  • No physical address
  • Spam emails

Any agency that deals with bad credit loans should have protocols in place. These will include requiring you to prove your identity, as well as demonstrating that you do have the means to pay back any amount you borrow.

You’ll also want to know that they report to credit agencies when you pay back your loans. Unless they do this, your credit score won’t reflect your proven financial responsibilities.

The agency should also be realistic about your situation and offer you some options if you have difficulty paying back what you owe. While you’re always responsible for your agreements, it would be counter-intuitive for an agency to lend to an at-risk customer and fail to accommodate for the risk.

Whether it’s a one-time forgiveness or a flat-free late-charge, they should have reasonable alternatives to help you manage your responsibilities.

Final Thoughts

Money management is one of the most important responsibilities we have. It has a massive influence on our ability to achieve our goals.

Falling behind doesn’t make you a bad person. There are a million reasons why people can and do fall behind every day.

Needing a bad credit loan can be what you need to get that fighting chance at improving your situation.

Be realistic about where you are and what you need. You can find a lending agency that is willing to help you work towards financial freedom.

Don’t settle for the first agency willing to lay money down. Find someone that respects your situation and will help you improve it.

We are regularly helping people in difficult financial straits get the opportunity they need to overcome these difficulties. We work every day to help them break free from poor credit and get the life they want to live.

If you have any questions or concerns, we’re always here to help. Why not fill out an application form and see how we can help you today.

ambulance #1

8 Reasons You Need an Emergency Savings Fund For Whenever a Rainy Day Strikes

November 28, 2017
Emergency Loans

As the saying goes, “Life happens.”

Even if everything is going well, there are unfortunate situations that may arise. When calamity strikes, you want to be prepared.

One of the best ways to do this is to have an emergency savings fund. It can be the difference between a disaster and just a bump in the road.

Not sure why you need an emergency savings fund? Even if you make enough money to cover your needs each month, it’s essential that you have one set up.

Rainy days can happen, and if you aren’t prepared it can really hurt you financially. Here’s why you need to be ready with an emergency savings fund.

Below, we give you eight reasons to have an emergency savings fund built up and ready in case life deals you an unexpected blow.

1. You Can’t Predict the Future

No matter how well life is going, one rule applies: You cannot predict the future.

You have no idea what’s just around the corner. It may be continued good days where everything is going your way–or it may be the opposite.

Because you don’t know what you’ll be facing tomorrow, next month, or next year, you need to have emergency funds on hand. Being able to cover your expenses in case of job loss, injury, or another stressful situation is important.

Even if you feel secure in the predictability of your life, things can come up that you never saw coming. Don’t use this as an excuse to live in fear–just be prepared.

2. It’s Not Hard to Do

Why not have funds set aside in case you need them one day?

One of the biggest reasons people don’t create emergency savings funds is because they think it will be too difficult or will interfere with their lifestyle. This is not the case.

Building an emergency savings fund simply requires setting aside a small amount of money each month. Putting 5-10% of your monthly income into a savings account on the side will build up over time.

The end goal is to have about 9 months of savings in your emergency fund. Then, in case you need it, it’s there.

3. There Are No Drawbacks

Having an emergency savings fund can only help you. There’s nothing it can do to hurt you.

The small amount of money you set aside each month will not take away from your lifestyle, yet it will grow to be a large account over time.

What’s the worst that can happen? You never end up needing the funds and you have several thousand dollars set aside as a cushion?

One day, when the time is right, you can even feel free to spend or invest a portion of the fund. That’s one of the best parts of having this kind of savings set aside–it can only help and benefit you.

You may never need it–but if you do, you will be very happy to have it. And if you don’t, the money is still yours for the spending.

4. It Will Increase Your Status

The only way to lift yourself out of your current financial situation is to work hard to improve it.

Saving money is certainly easier said than done. However, if you ever want to rise above your current status when it comes to finances, this is how you can do it.

Having a rainy-day fund separates you from those who do not manage their money wisely. It means that when life happens, you are prepared. Curveballs will not knock you down.

5. It Eliminates Stress

Few things are more stressful than facing financial hardship on top of the situation that caused it.

Let’s say you or a family member are facing unexpected medical bills due to an injury, disease, surgery, or accident. Whether or not you have insurance, there are likely going to be some bills to pay at the end of it.

Having to stress about these bills on top of the illness leading to the bills is really undesirable. Having an emergency savings fund that will cover your expenses–in whole or in part–will allow you to focus on the main issue.

In the same way, you don’t want to worry about how to pay for food or housing in the case that you lose your job. You want to be able to use that mental energy to finding a new job and resolving your situation.

6. Get Out of Debt Faster

It may seem counter-intuitive, but have emergency savings set aside can actually help you get out of debt faster.

When you have 9 or more months of savings built up, it’s up to you whether you want to keep contributing to that savings account. You could choose to just keep adding more and more money in so that you are protected longer or for bigger crises.

If you decide to do something else with that small percentage of your income each month, you could put it toward paying off your debts.

Alternatively, if you are ever faced with needing to cut down monthly costs, you could take from your savings and put a large chunk down toward your outstanding debts.

7. Prepare for the Worst, Hope for the Best

Many people go through life believing bad things will not happen to them.

While you should not live in a constant state of stress and anxiety, you should know that major financial downfalls and disasters can happen to anyone.

This is a realistic way to approach life. You should be ready for the worst. Then, in case it does happen, you can lessen the blow.

And if it doesn’t, you’ll be all set–and with quite a bit more money to your name!

8. You’ll Live More Freely

It is painful to be tied down by money. Being held back from pursuing your dreams due to financial issues simply isn’t worth it.

When you have savings set aside, you will take more risks and feel more confident. Being scared of what will happen when a crisis occurs can be resolved with this type of savings fund.

Of course, life isn’t all about money. But being prepared and using your finances wisely will set you up for a happier and more fulfilling life.

8 Reasons You Need an Emergency Savings Fund For Whenever a Rainy Day Strikes

Click To Tweet

What If I Don’t Have an Emergency Savings Fund?

If you don’t have an emergency savings fund but find yourself facing an emergency situation, this is the worst-case scenario.

Not to worry, though. We can help.

Cigno Loans specializes in short-term cash advances in small amounts, up to $500. If you find yourself in need of a small bit of money to get out of a squeeze, contact us today.

You will move on from this situation having learned an important lesson, and we are available to help you in the meantime.

A see through piggy bank with money coins

Budgeting 101: 10 Ways to Save Money on a Tight Budget

November 21, 2017
Budgeting

Has your wallet been tightening it’s belt lately?

Are you looking for ways to save money so you have more to spend for the holidays?

Saving money is possible and even easier than you would think. All it takes is a little planning and diligence.

With the holiday season coming up, you want to know the best ways to save money on a tight budget in order to celebrate the Christmas season properly.

This guide will give you 10 ways to save money on a tight budget so you have cash to spend on loved ones this holiday season.

1) Put Your Money Where Your Mouth Is

One of the easiest ways to cut cost is to pay attention to your food expenses.

Are you constantly eating out with friends or getting your morning Starbucks?

Try to kick the eating out habit and switch to preparing foods at home. If you buy all your food for the week on a Sunday, you’ll be less tempted to swing my a fast food restaurant on the way home.

Cooking your own fresh foods is better for your wallet and your health.

2) Keep the Change

Start an adult piggy bank in your living room.

Every time you get change or find change while you’re out and about put it in the piggy bank. You might think this won’t amount to much but it could add up to hundreds of dollars a year.

Many people neglect change and treat it as if it’s not real money. Prove them wrong.

3) Look for Free Events

When you’re on a tight budget you may feel like you can never go out and enjoy yourself.

This is simply not the case. If you live in a mid-sized or large city, there are constantly free events you can get involved in.

Whether it’s a free yoga in the park class or a free trivia night at a local bar, there are activities you can go to without breaking the bank.

Walking and biking around the park is a fun and free activity you can always take advantage of.

4) Switch to Netflix

There is no need to be spending a lot of money on cable and movie channels.

Netflix has all the movies and tv shows you could need for $10 a month. If you get rid of cable you could save lots of money on channels you don’t even watch.

You can get your news for free online rather than watching news channels to save money.

5) Create a Budget

In order to start saving money you need to create a budget for yourself.

Decide before the month even starts how much you’re going to spend.

A good rule of thumb is to spend 50% of your income on necessities, 30% on things you want, and save 20%.

When you know you only have a certain amount to spend each month on “wants” you’ll think more carefully about what’s really important to you.

6) Be Prompt with Payments

One of the easy ways to save money on a tight budget is to pay your bills on time.

Once you’ve cut unnecessary spending and are down to only your important bills, it’s important you pay them on time.

When you don’t pay your bills on time you’ll be charged late fees that can start to stack up and get you in trouble.

Avoid this by setting aside enough money each month to pay your bills and allocate a time to pay for them. If you’re routinely forgetful, you can set up an automatic payment method online for many companies.

7) Embrace the Sharing Economy

If you haven’t already, it’s time to embrace the “sharing” or “gig” economy.

With the sharing economy, there are plenty of ways you can save and earn money.

If you need a repair on your house, don’t hire an expensive repairman from a company, instead hire an independent person off Task Rabbit.

With sites like TaskRabbit, Uber, Rover, and more you can hire one person for one task and be done with them. You won’t be surprised by a colossal fee at the end of the job because they’ll tell you up front how expensive it will be.

You can also earn money in the Sharing economy by offering your skills or your property. Put your extra room up on Airbnb to make money without having to do anything except let someone sleep in your room that wasn’t being used anyway.

8) Get a Roommate

Sure, roommates can be annoying and you may still be scarred by your college roommates’ messy antics, but roommates can also save you a ton of money.

Getting a roommate is one of the best ways to save money on a budget.

If you’re currently paying $1,000 for rent and you get a roommate that’s $500 you could be saving every month. Which adds up to $6000 a year!

Just think of all the holiday gifts you could buy with that.

9) Workout at Home

If you’re trying to cut corners in your spending you may want to start with your gym membership.

There are plenty of workouts you can do from the comfort of your home with little to no equipment.

Fitness Blender is a website that offers hundreds of workouts that target different muscle groups that are proven effective.

10) Know When to Splurge

It’s important to think of ways to save money on a tight budget, but it’s also important to know when to splurge.

There are certain items that it’s ok to spend more money on initially.

Kitchen utensils, computers, and pillows are things you use every single day and it’s better to have quality items than items that are constantly breaking.

If you spend more money initially buying a high-quality item you won’t have to continuously pay to repair it.

Budgeting 101: 10 Ways to Save Money on a Tight Budget

Click To Tweet

These Have Been 10 Ways to Save Money on a Tight Budget

This guide has given you smart ways to save money on a tight budget and now it’s your turn to implement them into your life.

Saving money from month to month is very satisfying as you won’t have to endure the stress of not being able to pay for the necessities in life.

Like this article and want to get in touch with us? Have questions about our company? Please contact us here.

We are happy to help!

Businessman pressing a Payday Loan concept button. Instagram Styling Applied.

What Are Payday Loans? Your Guide to Understanding Payday Loans

November 16, 2017
Payday Loans 19

Looking for a way to get instant cash before your next paycheck?

It happens to the best of us. Sometimes the time between paychecks is just too great, and you need money to cover those bills or to pay for an emergency situation.

Payday loans or advances can be your solution to such times of financial troubles. These loans can be taken out before your official next payday so that you can have immediate cash.

Do you need money, but need it before your next paycheck? Here’s how payday loans can be your potential solution to financial troubles.

Read on to learn more about how a payday loan can help you out before your next pay cycle.

1. Payday Loans are Short Term

Payday loans are offered to borrowers for a limited amount of time, unlike other loans that last months and years.

After approval, borrowers will receive their requested loan amount as cash, a direct deposit, a check, or debit card preloaded with the loan amount.

Borrowers will then have to pay the loan off by the date of their next paycheck or when an approved source of income arrives via a pension or social security check. You will usually have to pay off your loan within two to four weeks of receiving the cash.

People approved for a payday loan will usually have to pay the amount back in a single payment rather than in increments like other loans.

There are some exceptions to the short-term nature of payday advances. Some lenders are allowed to renew or rollover loans, extending due dates of payoffs through a second paycheck. In these cases, borrowers will just have to pay the initial interest fees until the extended deadline.

2. You Can Get Payday Loans No Matter Your Occupation

Nearly everyone is eligible for a payday advance, which makes them such a great solution for those times when money is especially tight. You can apply to receive an advance no matter what your occupation is or how much you receive for each paycheck.

Retired individuals and those receiving pensions or social security are also eligible to apply for paycheck advances.

Service members are at an advantage when it comes to payday advances. Under the Military Lending Act, service men and women can’t be charged more than 36% interest on any kind of consumer loan.

3. You Can Obtain an Advance Online

There are many ways to get a payday advance. Your easiest option is online. Online lenders like Cigno will offer easy applications that don’t ask for much more than your bank account number.

Online loans can also be deposited in your bank account within a few hours, depending on the lender. At Cigno, you can receive funds in your account by this afternoon.

4. You Will Have to Pay Fees On Your Loan

Payday loans are still loans, meaning that you’ll have to pay fees on the amount you’ve borrowed. Generally, states set a maximum fee of $10-30 per $100 borrowed for payday advances. These fees will be built into the payoff amount.

Make sure you understand what fees you’ll have to pay for an advance once you apply. Costs will vary depending on the lender and your state of residence.

5. Payday Advances Are Typically Smaller

Because they are short-term with high fee structure, payday advances range from $100-$1,000, depending on the state. Loans of this nature are typically easier for borrowers to pay off, especially given the amount of standard paychecks.

When your next paycheck arrives, you’ll have to pay off the amount you’ve borrowed in addition to any fees.

6. Applications for Loans Are Straightforward

The good news about payday advances is that fact that applications are relatively easy. You do not have to provide a lot of information and most applicants are approved immediately.

If you are borrowing from an online lender, you’ll be able to submit your application online, receive the loan contract digitally, and have cash in your bank account in a very short amount of time.

Make sure you have bank account information handy in the form of a recent bank statement.

7. There Are Still Payoff Terms

Just like any loan, a payday advance will have payoff terms. This means that you will be given notice of repayment terms when you apply for the loan and once it is approved.

Repayment terms will vary from state to state and case to case. All borrowers will usually have to pay off payday loans by the date of their next paycheck. There are penalties if this does not happen.

It’s important to ask for a clear explanation of your loan’s payoff terms when you receive it to avoid penalties and extra fees.

8. Not All States Offer Payday Advances

Some states do prohibit or severely restrict payday loans for a variety of reasons. Lenders may not be able to offer interest rates and loan amounts in certain states due to state laws.

If you aren’t sure if your state offers payday advances, you can contact the attorney general of your state or give us a call at Cigno Loans.

What Are Payday Loans? Your Guide to Understanding Payday Loans

Click To Tweet

Understanding Payday Loans

Even if you receive paychecks from your employer bimonthly, life happens. If you find yourself in a situation where you need cash to cover bills or other unexpected costs, you can apply for a payday loan.

Payday advances are short-term loans meant to be paid off on the day of your next paycheck. You can obtain these easily online via Cigno Loans, for example, in as little as a few hours. You’ll still have to pay interest on your loan, and loan amounts typically are no greater than $1,000.

At the end of the day, the most important thing to understand with payday loans are the terms your lender offers. Be clear on interest rates and payoff dates, and be sure to ask questions if anything isn’t clear.

At Cigno, we are your source for fast cash no matter what situation you find yourself in. We provide short-term and same day loans, payday advances, and loans for borrowers with no or poor credit. Our application process is easy and painless, and we have a very high approval rate for all borrowers.

Reach out to us today to get the cash you need in your bank deposit as soon as this afternoon!

phone app train station

Saving While Travelling

November 9, 2017
, Budgeting 1

The best ways to save some dollars while travelling are: opt for budget airlines, avoid travelling long distance by train, share the rides, opt for a cheap rental car or hire a car outside city limits, use a smart card for public transport and use public transport to airport.

“Who claims that it’s too expensive to travel to or live in Australia? The truth is, if you practice healthy spending and saving habits in your daily life, there’s no reason you can’t do the same while visiting Australia.”

Saving on accommodation

Accommodation can be lot cheaper if you: stay in hostels, opt for BNB, use Couchsurf, opt for short term subletting, opt for a work exchange or house sit someone’s pet.

Save on food and drink

Make use of supermarket discounts, shop at larger supermarkets, buy cheap from local markets, use food coupons and discounts offered by food delivery companies, cook often than eating out, opt for pub meals, prefer wine to cocktails, bring your own wine or beer to restaurants wherever possible and dine in Asian restaurants.

Saving While Travelling

Click To Tweet

Save on activities

Hit the beach – its free; Use Groupon or Adrenaline to book discounted adventure activities, go for a coastal walk or trek, visit the national parks, use meetup and couchsurfing for events and excursions, opt for a free city walking tour.

As you can see, you can save your precious dollars in many ways. If you need quick loans, a Cigno loan might be the best solution.

To apply, complete our quick and easy online application and send us your bank statement. Receive up to $1,000 in your account with our same day loans or Crisis Cash Loans with manageable repayment options. For details, contact us.

Read the original source article here.

1 2 3 4