17Jun2019

Emergency Savings! How Much Is Enough - Cigno Loans

Emergency Savings Fund! How Much Is Enough?

June 17, 2019

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“Those who prepared for all the emergencies of life beforehand may equip themselves at the expense of joy.” — E. M. Forster

No matter how good things are, it can always go bad. It could be a family emergency, a medical exigency, or a car breakdown. You could weather these storms with an emergency savings fund.

Emergency savings fund

An emergency savings fund is money you’ve set aside to help cover the cost of any unexpected expenses. Accumulating an emergency savings fund can offset some of these expenses so you don’t have to be distressed.

Still, there are a lot of people in Australia who have no savings to fall back on.

People may have saved for at least a month’s expenses. But is this enough?

How much should you have?

Depending on certain situations, you’d obviously want to save up between 3 and 6 months’ worth of expenses, at the very least. By estimation, this is how long it takes for people to find a new job. It’s just wise to have some cash set aside during this time to pay for food, utility bills, and rent, among others.

At this point, you may have ballparked how much you spend within a 3-6 month period. This is how much you should have in your emergency savings fund and then some.

Budgeting and savings apps such as Goodbudget can help to track your spending effectively.

Goodbudget is based on the envelope budgeting method. It’s an expense tracker and money manager that’s great for home budget planning.

Goodbudget app

Starting an emergency savings fund

You can now start an emergency savings fund. Follow these tips in setting up this goal:

look for a high-interest savings account
set up automatic transfers
create a cash buffer (optional)

Look for a high-interest savings account

A high-interest savings account is one of the best places to put your emergency savings fund.

A high interest savings account is an account that offers a competitive interest rate. Although it is similar to a bank account, it’s designed to help you save money rather than spend it. The compound interest is calculated daily and paid monthly.

Note: ‘High’ is around 3.00% p.a. in interest.

Emergency Savings Fund! How Much Is Enough?

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Set up automatic transfers

Once you’ve set up your high-interest savings account, you can either deposit a lump sum (months’ worth of living expenses) or slowly build up to this amount through automatic transfers. You can also deposit a smaller lump sum, $1,000 or so, to your emergency savings fund to give it a headstart.

Create a cash buffer

This is optional, but can be used for smaller emergencies like replacing a laptop. Small amounts of cash ($5 a week) could be a lifesaver in a situation where you can’t access the money in your bank account.

Emergency loans from Cigno

Do you require a fast and small money credit during an emergency as you’re fund wouldn’t suffice?

In this case, Cigno Loans act as a helper, with an easy application process — as well as management of emergency loans or bad credit loans, if you have a less than stellar credit history.

Once endorsed, cash is moved into your bank account with repayments easily arranged.

Note: You’ll thank yourself in the future for starting an emergency savings fund. Just be mindful where to use it — for emergencies.

10Jun2019

Tips For Lodging Your Tax Return

June 10, 2019

Henry Mabana

emergency loan online, emergency loans, emergency loans australia Emergency Loans

A tax return covers any income and expenses from July 1 to June 30 the following year (financial year). At the end of it, you have to lodge your tax returns on or before the October 31 deadline.

Upon completion, the Australian Taxation Office (ATO) will assess your income, expenses, and deductions to determine if you’ll have to pay additional taxes or get a refund.

Documents needed to file a tax return

Make sure you have the documents you may need that’s applicable for your tax return. Aside from income and bank statements, you’ll need to gather these additional information:

Pay As You Go (PAYG) payment summary
tax file number (TFN)
bank account details
details of any additional income (investments or rental income)
details of any Centrelink payments received
details of any other tax offset information
details of any occupation specific deductions you wish to claim
interest accumulated from bank account
medicare and private health care statements

You’ll need the following if you plan to claim more than $300 in work-related expenses:

copies of receipts or invoices
home office logbook
travel logbook
credit card statements

Lodging your tax return

After gathering information, it’s lodging time! Now, you can always lodge a paper tax return by mail.

Income tax can be complicated and you wouldn’t want to pay a fine or miss out on a refund. If you want to minimise and take some of the stress out of tax time, consider these ways to lodge your tax return.

Lodge online yourself

To get your refund faster, you can choose to do your tax return online 24/7.

MyTax is the easy, quick, and secure way to lodge your tax return online. MyTax is accessed through myGov. You can print and review your tax return before you lodge and see a detailed breakdown of your estimated additional taxes or refund.

You’ll have a quicker and easier experience as most information from your employer, bank, and government agencies will be pre-filled by early August. You can also upload your myDeductions (included in the ATO app) data to pre-fill your tax return.

For employees and sole traders, you can use myDeductions to keep records of your work, general expenses, income, and deductions to make lodging your tax return faster and easier.

myDeductions tool - ATO app

Download the ATO app then select the myDeductions icon.

It usually takes up to 2 weeks for the ATO to process and pay your refund.

Note: The deadline to lodge your tax return is October 31.

Tips For Lodging Your Tax Return

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Lodge using a registered tax agent

Most people who lodge a tax return choose to do so through a registered accountant or tax agent because of obvious reasons.

Every profession varies when it comes to claiming deductions. A registered tax agent understands specific deductions and they are allowed to charge a fee to prepare and lodge your tax return. Their fee is also tax deductible on next year’s tax return.

Most registered tax agents have a special lodgment program and can lodge returns for their clients after the usual October 31 deadline.

Find a registered tax agent or check whether an agent is registered by visiting the Tax Practitioners Board (TPB) website.

Emergency loans in Australia

Being an easy and fast method of receiving small amounts of cash make emergency loans extremely popular in Australia. Unexpected bills arise all the time, and sometimes you can easily find yourself out of cash. Cigno Loans is here to help with their emergency loans!

With Cigno, you can get up to $1000 paid directly into your account with manageable repayment options. You can use the cash for any expenses, such as tax agent fees during tax time.

To apply, simply complete the quick and easy online application and send your bank statement.

All applications are considered and Cigno does its best to find a suitable solution to your needs.

3Jun2019

The Best Car Service Apps

June 3, 2019

Henry Mabana

cash loans, emergency loans, loans no credit Emergency Loans

Getting around in a big city or finding a mechanic can be a challenge. It shouldn’t be when you have one of those phone apps in your pocket — that happens to know your location.

With the aid of your smartphone, here are some car service apps of the future.

Shebah — All women rideshare service

Conceived and built in Australia, Shebah is a new ridesharing app designed to drive women and girls forward by giving them their fair share of the sharing economy and letting them travel with confidence anywhere they want to go.

Shebah has started in Adelaide, Ballarat, Bendigo, Brisbane, Canberra, Geelong, Hobart, Perth, Sydney,Melbourne, and on the Gold Coast and Sunshine Coast. * Soon available in Darwin.

Riders can look forward to friendly female drivers behind the wheel, and the opportunity to book a car with a capsule or toddler seat using the app. Enjoy the safety and certainty of being part of an all-female network of drivers and passengers.

Shebah app

Download the Shebah app for iOS or Android:

always have a female driver
book a ride in a single tap
book a trip up to two weeks in advance
have a driver who has completed the most rigorous background checks
are in a car with a current roadworthy
request a capsule or toddler seat
no need to carry cash to pay for their ride
accurate fare estimates and no unexpected surge pricing applied
support the economic empowerment of another woman

Carsales

Carsales makes buying and selling even easier with more cars than anywhere else.

Note: This app features Nielsen’s proprietary measurement software which will allow you to contribute to market research, like Nielsen’s TV Ratings.

Carsales app

Download the Carsales app for iOS or Android. With tools to help you buy and sell, an easy-to-use interface, and greater functionality, you can:

search over 200,000 new and used cars
access the Member Centre where you can sync all your saved cars, searches, and email alerts
list you car straight from your mobile with Snap n’ Sell
edit your ad or see how many people are interested in your car with Live Ad Stats
value your car or research via News & Reviews provided by motoring.com.au
share listings direct from your mobile device to your social network

The Best Car Service Apps

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AutoGuru

AutoGuru offers customers convenience! They understand that it’s stressful for customers to find a reliable, local mechanic. AutoGuru makes it convenient and as easy as possible to access a well-suited, high quality, local mechanic.

AutoGuru gives quotes and lets you book from an entire marketplace nationwide, 24/7. This is something that hasn’t been done before in the automotive service and repair industry. Search, get quotes, compare, and book.

AutoGuru app

Download the AutoGuru app for iOS or Android, put in your car details, location, and type of service or repair. You’ll receive instant quotes from mechanics in your area for services and straightforward repairs.

For more complex repairs, you’ll receive up to three quotes within 24 hours, after mechanics went over the required work.

By using the AutoGuru app, you have complete access to reviews by real customers. This aims to give you full transparency and increases your confidence when booking.

You can book and pay (with Afterpay) once you find one you like. AutoGuru handles the whole process.

Emergency loans from Cigno

Do you need access to funds for a car repair or an emergency expense?

Cigno Loans is an emergency cash specialist. With an easy application process, as well as management of loans (no credit) or emergency loans, Cigno can help you receive up to $1000 in your account today with manageable repayment options.

Cigno encourages its customers to only borrow cash loans when they need to, and to always borrow what they can afford to repay.

To apply, simply prepare your bank statement and complete the quick and easy online application.

27May2019

Self-Managed Super Fund: Managing Your Superannuation

May 27, 2019

Henry Mabana

Easy Loans

Thinking about managing your own super? It can be a rewarding process to manage your super fund, and not just in a financial sense. The most important aspect is you are in control. You make all the decisions, which means the fund will directly reflect your individual needs.

Self-managed super funds (SMSF)

A self-managed super fund (SMSF) is a superannuation trust structure which provides benefits to its members upon retirement. SMSF is regulated by the Australian Taxation Office (ATO).

The difference between SMSFs and other super funds is that SMSF members are also the trustees of the fund. SMSFs can have up to four members and one of the main advantages is the level of control the trustees have in tailoring the fund to meet their individual needs. The trustees are responsible for the decisions made on the fund and compliance with relevant laws.

Note: It’s most cost-effective if you have a large balance as set up costs and annual running expenses can be high.

How does SMSF work?

SMSFs operate under similar rules and restrictions as ordinary super funds.

SMSFs have their own tax file number (TFN), Australian Business Number (ABN) and transactional bank account that allows them to:

Make investments — all SMSF investments are made in the name of the fund and are controlled by the trustees.
Receive contributions and rollovers
Pay out lump sums and pensions

SMSF advice can help you weigh up the pros and cons of running an SMSF and help you decide whether it’s right for you. It may also be able to help with the administration and investment decisions for your SMSF. You must understand how it works as you cannot pass on the responsibility of being a trustee or director.

Note: If other members make decisions or you get advice from a professional, you are the one who’s liable for all the decisions made by the fund when you decide to set up an SMSF.

Self-Managed Super Fund: Managing Your Superannuation

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Managing your SMSF

In managing your SMSF, you must:

Have time to manage an SMSF — Evaluate if you can focus on managing your fund. Many regret setting up an SMSF in the first place as it costs more and involves more effort than many anticipate.
Know the costs of managing an SMSF — There are costs associated with running and reporting on your SMSF and how you invest the money in the fund. Some of these costs may include: audit fees, reporting fees, valuation of SMSF asset fees, insurance and legal fees, and broker and financial advice fees.
Have the expertise to manage an SMSF — You are personally responsible for investment decisions, so choosing what to invest in is the hardest aspect of running an SMSF. Making these decisions requires expertise in how to manage investment risk.

For example, cash investments and term deposits may not keep up with inflation — it’s one of the risks associated with investing heavily in cash and fixed income asset classes.

Note: If you’re not sure, ASIC can help you decide whether an SMSF is right for you. They can guide you on how to work out your financial goals, decide how much risk is best for you, get to know the investment, consider tax implications, etc.

Easy loans in Australia

For now, you’re still working and far from retirement and you’re super. There may come a time when you need quick access to funds during an emergency.

Easy loans from Cigno can help you with your urgent needs by borrowing a small amount. Cigno offers a 24/7 online platform, so you can apply anywhere, anytime. You can have the cash within hours — even on weekends!

The easy loans that Cigno helps you to apply for are designed to be easily understood. All costs are displayed in advance, with no hidden fees.

You should only ever borrow as little as you need and look to pay it back as quickly as you can.

20May2019

How To Manage Your Centrelink Income?

May 20, 2019

Henry Mabana

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Income management

Income Management is a tool to help people in budgeting their welfare payments. It ensures they get the basic essentials like food, shelter, electricity, and education.

Improved control of finances helps people to stabilise their lives so they can better care for themselves and their family. It can also support them to return to or join the workforce.

Accessing your income managed money

You can access your income managed money in many ways:

BasicsCard — Use your BasicsCard at approved businesses to pay for essential household needs and expenses.

BasicsCard

Direct payment — Ask to set up regular or one off payments to stores, landlords, real estate agents, or other service providers.
Self service — There are self service options you can use to access your income managed money.
Call — Call the Income Management line to get help in accessing your income managed money.

Note: You can’t use your income managed money for: alcoholic products, tobacco products, pornography, gambling products and services, homebrew kits or concentrates.

Managing your Centrelink income

The way you use your money will change during your life. While you look for work, there might be changes with your income. Make a plan to have enough money to pay your bills while income is low. Don’t forget about your regular bills as well as other expenses you have.

To help you manage your money, you have to learn to budget, deal with debt, manage loans and credit, and build savings.

If you think you can’t pay your bills on time, talk to the hardship teams at companies, like your utility providers, your bank, or lender you have loan with. They may want to help you with debt repayments depending on your situation.

Settling a loan or cutting back on debt will enable you to manage your money effectively. Having knowledge about credit and borrowing avoids disappointment at the end.

There are things to consider before taking out a loan. Ask yourself:

Do you really need it right now?
Is it safe and affordable?
Can you make the repayments on time?

Check if you can get a no interest or low interest loans from a financial institution.

If you’re Working or on Centrelink, Cigno Loans will consider your loan application. Cigno believes in treating each person with trust and respect and only ask what they need to in order to assess suitability.

How To Manage Your Centrelink Income?

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Cigno offers Centrelink loans for persons who have a low income and on Centrelink payments. You can also apply for bad credit loans or no credit loans if you need cash while on Centrelink.

If you do apply for a loan or credit, always check the terms and conditions. Enquire about your concerns before signing a contract.

10May2019

Cheap Holidays and Where To Find Them

May 10, 2019

Henry Mabana

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Need a break from work, school, or household chores? You might feel like you’re stuck in a rut in your daily grind. If you’re yearning for something exciting and different, why not go on a holiday?

Exploring another place will give you a fresh appreciation and perspective on life. Traveling is also a special way to deepen relationships and meet new friends.

Now, where would you wanna go? You can search online for a range of cheap holiday packages near you or somewhere faraway that you may fancy.

Check out the following travel apps and discover where to go with great deals that won’t hurt your pocket. This extremely economical holiday destinations will definitely give you a much needed break!

TripAdvisor

With the all-new TripAdvisor, you’ll discover helpful travel recommendations and advice from the people you follow and easily save and share ideas to plan and book your perfect getaway. There are millions of traveler reviews and photos, bookable tours and attractions, and recommended restaurants — it’s everything you need to know and go better, every time.

TripAdvisor app

The TripAdvisor mobile app for iOS or Android is free and easy to use:

Discover what’s near your current location.
Find great deals and compare airfares.
Search and book amazing tours and attractions.
Find the best hotel for you, including Travelers’ Choice award winners.
See the lowest hotel prices from over 200 booking sites.
Explore restaurants and reserve tables online.
Access over 700 million traveler reviews and opinions.
Discover great travel ideas from the videos, trip guides, articles, and reviews in your personal travel feed.
Follow friends and travel influencers to get helpful advice and recommendations.
Visit the TripAdvisor forums and get answers to your specific questions from other travelers.
Save and organise your travel ideas in one place to plan and book easily.
Add your own reviews and photos.

Note: TripAdvisor app is optimized to conserve battery power and only use GPS where necessary. Although continued use of GPS running in the background can dramatically decrease battery life.

TripAdvisor app uses your location to notify you on personalized hotel, attraction and vacation rental recommendations, restaurant, as well as remember the places you visited via Travel Timeline feature. These locations are collected even if the app is in the background.

Airbnb

With Airbnb, you can now start your unforgettable travel experiences. Find travel adventures and new places to go near or far, and access vacation home rentals, places to visit all around the world, and new experiences.

Airbnb app

Book everything for your trip, or start earning money as a host. Download the Airbnb app for iOS or Android.

Travel experiences — Go on local experiences led by native experts, whether it’s for multiple days or just an afternoon. Explore Seoul’s underground music scene, hunt for truffles in a Tuscan forest, or give back to the community with a social impact experience.

Vacation homes — Choose from over 4 million vacation home rentals across 191+ countries. Search by price, neighborhood, amenities, and more.

Popular destinations — Experience the beautiful sights and find local guides for the perfect vacation:
- Barcelona – Discover the cities beauty with guided walking tours.
- Paris – Find your fill in some of the best culinary tours and museums.
- Rio – Explore the birthplace of Samba or Hand Glide over the sights.

For travelers:

Search for last minute travel accommodations or long term rentals.
Save your favorite rental homes, experiences, and places—and invite friends and family to plan the trip with you.
Book vacation home rentals and travel experiences for your next solo journey, family vacation, or business trip.
Add experiences and events to your itinerary.
Message your host and get directions to your home.

For hosts:

Share your extra space or lead experiences that showcase what makes your city great.
Update your listing and calendar availability.
Share what’s special about your neighborhood with a host guidebook.
Message guests and manage their reservations.

Cheap Holidays and Where To Find Them

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Trivago — compare hotels & save

Get savings when you hotel search with Trivago! Discover the great deals, compare hotel prices, and save money on your next holiday or trip.

Find hotels for your holiday or business trip, discover a last minute city break, or a winter sun weekend deal. With more than a million hotels to choose from and hundreds of worldwide booking sites to compare, plan your next trip stress-free!

Trivago app

Download the Trivago app for iOS or Android.

Discover travel discounts, deals, and savings from hotels worldwide so you can travel cheaply.
Compare and find hotels, motels, or B&B’s from hundreds of bookings sites worldwide including: Expedia, Hotels.com, Holidaycheck, ebookers, AlphaRooms, LateRooms, Travelrepublic, Amoma.com, Booking.com, Priceline, HotelTonight, and more.
Keep your hotel search within budget, search by both location and price, and easily compare.
Hotel search with the Trivago Rating Index® – see the combined online ratings of all available hotel review scores so you feel confident before you book.
Set a trip itinerary for that last minute getaway.
Save money on vacation and travel sites so you can book your ideal hotel at your convenience.
Trivago’s massive workforce will always find the great deals on hotel prices to make your next vacation stress-free.
The Guardian lists Trivago among the “10 best money-saving apps.”
Lifehacker lists Trivago among the “best price-comparison apps you need to download.”
Tech Times calls Trivago one of the “must have apps for frequent travelers.”

Skyscanner — book cheap flights, hotels, car hire

Whether you’re booking holiday, a city break, or a romantic trip, Skyscanner is the best travel planner for booking cheap flights, hotels, and car hire.

Travel smarter with Skyscanner’s slick all-in-one travel app. Instantly search, compare and book cheap flight tickets, hotels, and car hire deals anytime, anywhere for your next trip.

Independent, unbiased and completely free — Skyscanner simply find you the best holiday deals out there in seconds. Book your next trip with the award-winning, simple to use travel planner brought to you by the world’s travel search engine. Available in over 30 languages.

Search over 1,200 travel sites at once to instantly get the best deal. Skyscanner includes deals from:

Expedia
Wotif
Virgin Australia
Jetstar
Tigerair
Emirates
Air New Zealand
AirAsia
Scoot
Booking.com
Hotels.com
Accor
Avis
Budget
Enterprise Car Rental and more!

Skyscanner app

Compare and book them all in the one app. Download the Skyscanner app for iOS or Android.

No booking fees or hidden charges
Get notified of any price changes with Skyscanner Price Alerts push notifications. Never miss a price drop and make sure you get the cheapest flight.
Easily find and compare the cheapest days and months to fly with a colour-coded calendar and chart view.
For holiday inspiration, select ‘Everywhere’ in the destination box and cheap flight prices to the best destinations around the world will brighten up your day.
Filter results by airline, flight length, stopovers, cabin class, departure and arrival times. Book your perfect trip.
With the new Trips feature, you can keep track of your journeys and all your bookings in the one place. You no longer have to search your old emails to know your flight number or departure time. Find it in two taps of your Skyscanner app. Be kept updated on gate changes and flight updates.
Book your whole holiday with Skyscanner. Compare cheap hotel deals from hundreds of thousands of hotels, resorts, bed and breakfasts, apartments, and hostels. Find rooms near your current location. Even search last minute hotels for tonight. Just looking for inspiration? Search for hotels in all your top destinations and dig out some great hotel deals.
Search the world’s car hire deals in seconds. Choose from 30,000 car hire airport or city locations, then filter by vehicle type, auto, or manual and features to find just the car rental you want at just the right price. What’s more, the Fair Fuel Policy flag makes sure you don’t get ripped off on fuel when you rent a car on holidays.
Skyscanner team is contactable 24/7. Accessible via the Skyscanner Help Centre.
Access recent flight searches from your app home screen and quickly pick up where you left off.
Log in to sync your flight searches and price alerts across all your devices- phone, tablet and desktop.
Earn frequent flyer points when you search for and book cheap flights.

Holiday loans from Cigno

Holiday or travel loans are unsecured loans that allow you to finance your trip using the funds. Typically, you can spend the money on any worthwhile purchase or expense — this includes holidays and any other trips.

Some loan providers offer fast cash loans that are tailored for traveling, even if you have bad credit. You may be able to spread payments of a tour or travel package out over the few months before you leave or you could be given interest-free terms on a travel loan.

Cigno are specialists in facilitating and managing cash advances. With these easy loans online, you can borrow up to $1,000 with a maximum term of 62 days. Extra fees and charges are applicable if you choose to use Cigno’s services.

Cigno offers a 24/7 online platform, so apply anywhere, anytime! Even on weekends!

Grab the chance to have a break this travel season and come back relaxed and recharged with new travel anecdotes to tell!

24Apr2019

Cheap Fun With The Kids On School Holidays

April 24, 2019

Henry Mabana

cash loans, loans for unemployment Loans for Unemployment

“Mum, I’m bored!” Are you wondering what to do with kids these school holidays? While camping out and going to the beach to swim are common, you can do other cheap & fun activities too! Here are some suggestions that will surely excite the kids and make lasting memories.

Fun competitions at home

Hold a cooking competition. Invite their friends over and make them prepare a simple meal, like pizza! Making dough from scratch is a messy and inexpensive way to have fun. You get to taste and you’ll be the judge who makes the most awesome pizza. This will be a hit because you all get to eat the results later. The best part is you don’t even have to cook dinner!

Set up a mystery and play a detective game. Hide toys around the house or bury them in the garden. These can serve as clues for a more challenging game. Give the kids magnifying glasses, maps, and notebooks for jotting down clues. The first to solve the problem gets a price, plus this helps develop their analytical and discernment skills!

Have a design and fashion show competition, ala Project Runway. This should have a theme and be time restricted. Let the kids roam through your wardrobe and see what design they can come up with. They can also use macaroni or beads to make bracelets, necklaces, and more. You’ll be amazed at what they can do with your hats, coats, scarves, and other recyclable materials in the house. Make them wear their creation and have them parade down the runway to judge who wins! This is great with girls, but boys can have a good time too.

Visit a local park

Go the extra mile, figuratively and literally, and visit a local park you’ve never been before. Search online for recommendations and choose one where there are climbing frame, water play, sand play, swings, and flying foxes. These can be a lot of fun for parents too!

Join them in picking up leaves around the park and do leaf rubbings. Put a leaf under a paper and rub a pencil or crayon across to make leaf imprint. Make a bunch of imprints then put it in frames or an album when you get home. You can also use these to make cards for any occasion or when you make a collage.

Later on, grab a pair of binoculars and go birdwatching. Make a list and look up information on the internet about the birds you saw. Who says holidays can’t be educational?

You and your kids can also go for a bike ride or rollerblading around the park. The family can also make their own kites and play with them. Or just let the kids run around and play while you relax under a tree.

Money-saving tip: Bring your own picnic. Ask the kids to help pack to get them excited for the trip.

Cheap Fun With The Kids On School Holidays

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A road trip involving ice cream

Turn ice cream into an adventure by going to a gourmet ice cream outlet not too close from home. Nothing excites kids more than delicious ice cream, the impressive kind you won’t get out of a supermarket tub or your local petrol station.

If it takes quite a while to get there, it will be a perfect time for talking or enjoying the car music. It will be worth the wait once you arrived at the destination because by then, the trip becomes about a lot more than the ice cream.

If you are still one of those parents trying to keep their cars reasonably clean, the kids can eat their ice creams while walking around and exploring the busy hub. Then you’ll have a group of happy and satisfied kids to drive back home. They may even fall asleep for a quick nap.

If the paycheck is still to come or you’re a stay-at-home mum, you can get loans for unemployment on the same day. It’s quick and easy and the online application is available 24/7. You can use the cash loans for the expenses for the school holiday activities.

Don’t forget to take pictures during this fun activities for scrapbooking to keep the memories alive!

15Mar2019

The Possibility To Acquire Payday Loans With A Bad Credit

March 15, 2019

Henry Mabana

Bad Credit Loans, Payday Loans 2

There are times when you need payday loans to get through a financial situation. Taking out a payday loan when you have a bad credit score is possible. We know that trying to acquire a loan with a bad credit can be a challenge, especially when it shows on your credit file. Some lenders can have your loan application under soft search (informal enquiry) which is a better evaluation option because it won’t go on your credit file. Otherwise, this will make your score worst.

Getting approval is not guaranteed. However, there are a few tips you can use for a better chance at bad credit payday loans.

Improve your credit score

Improving your credit score is hard work. A bad credit score can stop you from getting a loan, among others. One of the benefits of having a good credit score is to help you out during emergencies. Here are some tips to better your score and keep it looking good.

Monitoring — Credit bureaus like Experian can help you monitor by providing your credit report for free. Your credit report can show all your direct debits and the positive or negative factors that contribute to your score. It gives you all the information you need, hence, allows you to make it better. *Note: your credit score differs depending on the credit bureau.

Consolidation loan — Sometimes, consolidation is good if you have multiple debts. This way, you just have one loan to worry about. The faster the principal could be paid off, the quicker you have to deal with the balance — his helps to boost your credit score. Aside from improving your score, there’s a tax break too. There are companies willing to give you a consolidation loan. They can really help you out with your debts, but keep in mind to only take one out if really necessary.

Don’t change residence — Changing your residence too much would affect your score negatively because it’d be harder for the lender to track you down. You should stay in the same place for a few months if you plan to make a loan application.

Requirements for Payday Loans

Your latest 3-month bank account statement is a usual requirement. This account is where your salary is directly credited to. If your salary is paid into more than 1 account, you will need to prepare and supply the bank statements separately.

Printouts from online banking may be accepted as long as you can give other supporting details to prove that you are the account holder. The data will help the lender in assessing your payday loan application.

Lenders may also ask for original documents or copies of:

Payslips
Utility bills
Centrelink statements
Other statement of accounts
Other loan contracts
Lease statement showing if your paying your rent on time

Data in your bank account statements, your credit file, and whether you are a first time borrower may indicate the type of documents you will need to submit.

If you already have possible lenders in mind to choose from, make sure to call them up and make enquiries to assess the right one for you.

Find the right lender for your bad credit payday loan

Nowadays, there are many specialist lenders to choose from. You may not know where to look first, but it’s very important to do your research and find the right one that suits your financial situation. Here are the following things to consider:

Do some research — Make sure your specialist lender have a good reputation and dependable because they can access your bank account details and other personal information. Go to the lender’s website to learn about the terms and policies. Do not hesitate to make enquiries on important details.

Consider rates and fees — Expect to have higher interest rates and fees included in the loan with faster access to funds and special features from non-traditional lenders. They can charge up to 24% (monthly fee) of the principal loan amount for a loan less than $2,000, as monitored by The Australian Securities and Investments Commission (ASIC).

Loan extensions — Some specialist lenders can extend your loan term up to 90 days, which may include extra fees. Make sure to enquire about details in the event of a default. Ask about hidden and other extra fees you may need to pay in your loan terms. Try to avoid any extensions if you want to pay off your loan quickly.

Turnaround time — It is wise to look for a lender that can make fast decision and credit the funds directly to your account within a day. Cigno Loans offers products that won’t make you wait for days or weeks. Apply here.

The money from payday loans can be directly credited into your account on the same day. If you’ve made your decision and you want to acquire a bad credit payday loan, make sure to check first before signing the agreement. Learn about the loan terms and what happens when you default.

The Possibility To Acquire Payday Loans With A Bad Credit

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Although lenders can tailor-made it’s services for you, it is better to only get a loan if you are confident that you will make the repayments on time. Use a loan calculator to ensure that you don’t get a loan you cannot afford. Set the loan amount and term to have an idea of how much you are going to repay. Most lenders have their own calculator on their websites.

28Feb2019

Ways To Lower The Interest Rate On Your Payday Loan In Australia

February 28, 2019

Henry Mabana

Payday Loans 2

There are days when you are unavoidably short of money. Spending for an emergency, paying bills, and buying groceries can take a toll on your finances. These can all pile up until you don’t have enough money for the rest of your expenses. At these times, you look to your family and friends for extra cash. They may not be able to give the amount you need, though. This makes payday loans a convenient way to get financial aid.

There are many lenders that can loan you money for your emergency needs. These financial institutions generally accept everyone as long as they have the capacity to pay back the loan. This opens opportunities even if you happen to have a bad credit history. With payday loans in Australia, you can obtain funds for your needs and obligations.

The risks of borrowing

Being dependent on payday loans might cause you to fall into debt, however. For example, you borrow $500 from a lender and then they ask for a $100 fee in exchange for the loan amount. It’s alright if you are able to pay back on or before the due date of the loan. But what if you fail to do so? Your debt will roll over. You’ll be required to pay the fee for every period you aren’t able to pay back on time. This amount can accumulate until it turns out that you paid more interest than the original amount.

To avoid this problem, check the times when you’ve applied for a payday loan. Are your expenditures really urgent or can they wait until you have enough money to pay for them? Analysing your financial needs this way lets you determine if you should cut back on your expenses.

Lower the interest rate on your loan

Whether you are opting for payday loans or any other type of loan, interest rate is one aspect that is not in your hands entirely. There are ways to have it lowered to a level which would suit your repayment. Get your interest rates reduced by doing the following:

Compare different options — The most basic and must-follow rule when applying for a loan is to research properly and compare different lenders to find a deal that is most suitable to meet your needs. It is not just about the interest rates, but all the conditions and terms of the loan that you should take into account before choosing one lender.

Variable interest rate — This is more suitable if you are opting for payday (short-term) loans and if the lender is offering you option of variable rates. Usually fixed rates are on the higher side in comparison to variable rates when you apply for a loan. For loans with shorter term chances are less that the figures will change much. But make sure to do your homework fully considering the near-future market predictions and analysis. If variable rates are high when you apply for the loan, then stick with the fixed.

Offer an asset as collateral — Loans can be secure and unsecured, depending on the type of loan, lender, and some other conditions (credit history). Usually the secured loans have lower interest rates because lenders get the cover in the form of collateral. If you think that you can provide collateral to the lender to reduce your interest rate, then you can discuss this with the lender. But make sure that you have a strong repayment plan.

Better your credit score — Credit score is a big parameter that lenders consider when checking the loan applications. A good credit score definitely helps the seeker to get favourable deals with low interest rates. However, if you have a poor credit history, then you must start improving it today so that when you are in need of loans in the future you can secure fitting deals. Even if you are applying for a loan in urgency and find your credit history not good, you can get a loan at high interest rates. Keep improving your credit score and after sometime negotiate with the lender on reducing the rates based on your improved credit score.

Ways To Lower The Interest Rate On Your Payday Loan In Australia

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Finding a reputable lender

Some payday loan institutions use questionable means to get more money from their clients. One way they do this is through a continuous increase on the interest if the debt wasn’t paid on time. Be sure to check other companies and explore your options. Get to know the Australian laws on payday loans and cash advances. This way, you can report any inconsistencies with the way loans are given.

Check out companies that provide loans, such as Cigno Loans. Find out more about the payday loans they offer, so you can see if the terms are fair and reasonable enough.

12Feb2019

Are Payday Loans A Good Idea?

February 12, 2019

Henry Mabana

Payday Loans 3

There will come a time when you must take out a loan for your home, bills, or your family. If you need payday loans to get you through a financial emergency, it is essential that you do examine and choose the suitable one for you.

Payday loans have been popular and indispensable for quite sometime now. You can look at it in a positive light as these loans helped people who faced shortage of financial resources. But a few loan specialists can be evasive in their methods and this can leave you with a huge debt. You can use some tips that are applicable in eluding the traps of acquiring a loan.

The lender will have you go through an evaluation to ensure that your credit score will suffice and that you are creditworthy. In case of rejection, it will be recorded on your credit file and this black mark will be visible to future lenders.

Some lenders allow a soft search (informal enquiry) which is a better option without it going on your credit record.

Taking out a Payday loan

There are conditions to meet before obtaining a payday loan. Lenders can establish a lot of terms when issuing the loan. It is always good practice to negotiate the best terms possible with the lenders to avoid intricacies on reimbursements.

People with bad credit can qualify for payday loans as the lenders tend to overlook the history of creditworthiness with this type of loan. There are several important aspects which most borrowers need to know before they get involved in the payday loans application. It is good to try to figure out how to make the repayments early on and if it’s feasible.

It is crucial to ask the lenders for a full disclosure regarding the terms and conditions of the loan. Subsequently, consider the payday loans repayment amount and period and see if it works for you.

Payday loans cost

Cost is one of the main concerns borrowers have with payday loans. What are the interest rates? How much will be charged? What if I can’t handle the repayments? Many lenders are transparent with their fee structures, outlining what you will and might be charged for when you make a deal with them. One of these lenders is Cigno Loans. The data below can give a clear idea of cost you might agree on.

Through loan application, Cigno can help you customise where exact costs can be given.

Once approved, Cigno can send you a service agreement with multiple options (you have a choice for the easiest option) on how you can make the repayments. There is no obligation to take the loan if you think it’s doesn’t fit.

Nothing is hidden, no surprises, no catches, no worries!

The costs are broken down into 2 components:

The lender, Gold-Silver Standard Finance Pty Ltd’s (GSSF), cost.
Cigno’s charges as a service provider.

Gold-Silver Standard Finance Fees

Fee is calculated as a fixed, one-off non-interest charge equal to 5% of the loan amount.

Cigno Fees:

Financial Supply Fee:

1 payment loan – 35% of loan amount
2 payment loan – 45% of loan amount
3 payment loan – 60% of loan amount
4 payment loan – 75% of loan amount

Account Keeping Fee — $5.95 per week

Same Day Deposit Fee – $16.00 (Optional)

Priority Transfer Fee – $16.00 (Optional)

Additional Fees — In the event of your loan deviating from its original contract, additional fees and charges may apply. For more information, please refer to Disclosures and Authorisations.

Are Payday Loans A Good Idea?

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Extra charges and interest rates

For each type of a lender, you will get different terms and rates of interest. Some loan conditions in your agreement can cost you extra charges aside from your principal and interest. Administration fees and early repayment charges can be included in your contract so it is expedient to read all of the small print shown to you. Early repayment is always ideal so find a lender who won’t charge you for it.

Loan companies always advertise and market the interest rates in a representative way. Representative means that most borrowers are paying this rate, there is no low-rate guarantee to qualify for. Be aware of falling into this when looking for a loan.

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