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  Category: Articles » Finance » Debt Consolidation » Article

Erase Your Debts Free!

By Henry James

Consolidation loans merge all your debts and bills into a single payment.
This means, that if you have several monthly payments or a number of
different loans, you can make things easier by consolidating them and
taking one single loan to pay off the total debt.

Loan market in the UK is swamped with enormous number of loan
options. Different loans have been designed keeping in mind the diverse
needs and expectations of the UK residents.

The payday loan is credited directly into the bank account of the
borrower. They may not have been able to maintain the desired gap
between application and approval because of the uncertain nature of the
expense for which the loan is needed. In spite of this, the borrower is
given an instant loan, while the service charges are upped.

Payday loans are available when you need them. If your car requires an
immediate repair, or you receive a surprise bill, scrambling to borrow
money is humiliating and frustrating.

Not Enough Money?

I believe that most people haven't got enough money for everything
they wish to have - the more you have the bigger your plans, and you
have a feeling that you have less and less money.

Whether you have lots of money or just so-so, you need to economize
and take proper care of your money ie your income, expenditures, savings
and investments.

Below I give you 7 Golden Rules to a Financial Prosperity:

1) Always have several streams of income: never rely on one income from
one source only.

2) As soon as you start to earn, start to put aside a certain amount to
create an automatic money source: I remember I have always had my
own portfolio since I was a child, and can tell you that I needed it several
times. Even if you have property, you may find yourself in a situation
when you need fast cash. In such a situation, you will not sell your
property, but you can sell part or even the whole of your portfolio.

You don't need to start your portfolio with thousands of dollars, you can
develop it. You only need to set a rule that you won't touch it when you
don't need it, and keep it for vital urgencies. To buy a better car or a
bigger house is not an urgency.

3) Always take care of your money personally: it's not necessary to do
everything personally as soon as you can afford it but never allow any
other person to have a right to handle your money without your
knowing, or your express approval. If you think that you don't have time
to supervise this or that it's not important, you will have to find it later for
much more unpleasant things when you lose your money.

Many of you will 'hate' me for what I'm going to say now and I will receive
lots of disapproving messages but I have to say it: don't even allow your
spouse to do this - love and money is not the right association, and I
know what I am talking about. Keep these apart. Don't supervise your
investments and expenditures only - Always strictly collect your money.
Never allow people to owe you - again: with no regard to how much
money you have, always demand every dollar you earn to be paid to you.

The reason is that personal loans are all purpose loans and impart a
freedom that is unlikely in any other loan type. A secured personal loan
would be a loan taken for any peculiar reason and is secured on your
assets or home. Although bad credit history may prove to be a temporary
obstacle in the process, it definitely doesn't prevent you from getting the
money you need.

Secured loan helps borrowers in making the best use of the equity stored
in his or her property that helps him in borrowing a larger amount of loan
and that too for a longer loan term.

Though these processes are time consuming, they are not superfluous.
This explains the reason why fast loans carry a higher rate of interest. By
diverting from the normal loan processes, the loan providers are creating a
degree of risk involved.

Talk to your financial lenders about how you can go about qualifying for
these types of loans and you will be well on your way to paying down
debt and living a debt free, hassle free lifestyle.

4) Strictly distinguish between expenditures and investments: it's very
easy to put everything as cost or overhead: don't do this. Apply an easy
rule: expenditure or cost is money thrown out of the window - you can't
expect any return money on it, while investment is desirable (of course,
not every investment is desirable): this should bring you more money,
more property able to make you more money - the only questions you
should carefully consider are whether you can/should afford such an
investment at the moment, how much you're going to get back, how
fast and whether it is acceptable.

5) Keep your expenditures at the minimum with no regard to how much
money you have: expenditures are killing for everyone. It's useless to tell
you stories about big fortunes lost by unwise costs. I'm sure you know
many yourself from your neighbourhood.

6) Avoid loans, don't borrow if you don't know for sure you can repay.
Never purchase anything on future incomes or promises.

Just a little example: if I have a notice that a payment is on its way to my
account and I need the money today for some reason (however, I can't
see any reason like that :-) - never mind), I can borrow. But, if I think I
will sell 1,000 books next week, I mustn't borrow.

7) You must always earn more than you spend. In case you don't earn
more than you spend, then you must spend less. In other words, you
must always be in green.

If you think that you must swap your car every six months even if you
should borrow, then it may easily happen that you won't drive anything in
a very short time.

I don't want to waste hours of your precious time by long essays on
savings and wise advice. Just adopt one principle and whenever you want
to do something with your money (- whether it's thousands or millions or
just a couple of bucks), just think about it: take care of the pennies and
the pounds will take care of themselves. Many student loans have a
deferred repayment option, allowing the student to put off repaying the
loans until after they've finished school. Cash advance loan and no fax
payday loans are some of the classes of instant loans that are prevalent
nowadays. A payday loan is lent out till the borrower receives his next

Learn more ways to reduce debts today. Shop for the best interest rates
online and ask questions. Ask specific questions for a secured personal

The entry of online lenders has revolutionized the whole loan market in
the UK. Now, a borrower can access infinite number of lenders at one
time without even moving from one place to another. The Federal Direct
Consolidation loan is a consolidation of one or more federal loans combined
into a direct loan. A single monthly payment is made to the U.S.
Department of Education.
About the Author
Reduce debts today for a better life!

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