Smart Ways to Pay for a Big Purchase

It doesn’t matter how frugally you try to live, there are some large purchases that need to be made. This could be a house, vehicle, or something similar. Although this is inevitable, it doesn’t have to be too much of a hit to your finances. As long as you are smart about it, such purchases may end up being rather manageable. If you are curious to know about what options will work best for you, check out these tips here: 

Start by Saving 

Before you do anything else, you need to focus on saving money for this specific purchase. The earlier that you start, the better and the more that you can contribute, the less that you will have to borrow. When it comes to big purchases, tightening your belt for a couple of months can really help things along. So, while you may have to cut out some of your non-essentials, it will end up saving you quite a bit of money. 

Make More Money 

Yes, your current job may be time-consuming enough but a little bit of extra income can go a long way with a more expensive purchase. So, if possible try to pick up a second job, at least for a short period of time. If this doesn’t work out for you, consider freelancing or doing odd jobs. 

There are plenty of websites on the internet that allow you to earn quick money without ever leaving your house. Just a few of these each day can really begin to add up. If you want to make even more money, consider doing odd jobs for neighbors, colleagues, and even friends. 

Figure Out What Loans Work for You 

Of course, even with all of your saving, you are still going to need to borrow some money. Now, there are a few pointers on how to do this the smart way. To start with, select a good and legitimate lender like Mogo. This will ensure that you can get a good deal and an appropriate interest rate to boot. 

Now, if your credit score isn’t as healthy as it should be, then you are going to need to get a little creative. Here, look for a bad credit car loan to tide you over. You may have to pay a slightly higher interest rate but, at least the payment plan will be more suited to your current financial situation. 

Compare Your Options 

Just because you have the money in hand doesn’t mean that you should rush off and make your purchase. First, you need to do your research – are you going for the cheapest deal available? Is it wise for you to opt for the discount option or will your investment be better with a higher quality product? 

It is also a good idea to do research on when the best time to shop for a particular item is. After all, specific items go on sale or are discounted during certain months. By going shopping during these periods, you can save more money. 

These are the smartest guidelines to follow concerning making a major purchase. Stick with these and it will certainly not sting as much. 

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With KaratGold Coin (KBC) Gold Enters the Age of Cryptocurrency

Gold is a symbol of antiquity. It has been hoarded by kings since time immemorial, and has been found in ancient archeological digs from forgotten societies and treasures. Today, people invest in gold for much the same reason people did in previous eras: it’s useful, it’s valuable, and this is never going to change.

But gold isn’t very easy to use online. Sure, you can buy gold and sell gold on the internet, but you can’t use gold to pay for an Amazon purchase. This gulf between gold, the ancient asset, and the marketplace of today, the internet, seemed to be impossible to bridge. However, blockchain and cryptocurrency have changed this forever.

With blockchain, physical assets can be represented by tokens. While that might not seem like much, blockchain also makes it impossible to forge or replicate any one of these tokens. When a blockchain token is used to represent ownership of a physical good, he who owns the token owns the underlying asset. This system has been used by a company called Karatbars International to create digital gold on the blockchain, linked to  real gold held in its reserves. Let’s dig a little deeper to understand how they pulled this off.

The digital asset in question is called KaratGold Coin (KBC). This cryptocurrency was brought to market through an ICO (Initial Coin Offering) in February of 2018. Karatbars International raised $100 million through its ICO. They were able to convince so many investors to take part in the ICO by linking the value of KBC to real gold reserves owned by the company. Karatbars International has numerous gold products it has been selling since 2011. The KaratGold Coin is an Ethereum-based asset exchangeable for real gold. In essence, it is tokenized gold. The visionary behind the idea is Dr. Harald Seiz, a German entrepreneur, founder and owner of several companies, author of books and founder of Karatbars International, based in Stuttgart, Germany.

Starting on July 4, 2019 (Gold Independence Day), KBC holders will be able to swap their digital tokens for the gold that is linked to them. The gold will be passed on in the form of CashGold, physical banknotes issued by Karatbars International, each with a small bar of gold built right into the physical bill.

“With thethe Gold Independence Dasy, a full-featured gold circulation is put in place worldwide and the phrase “I will pay in KBC” means “I will pay with gold”,” Dr. Seiz announced. KBC holders can also keep their digital cryptocurrencies. Holding KBC has many benefits. For one, users can spend their KBC within the IMpulse K1 Phone , the first blockchain powered smartphone in this industry. KBC users can also spend their coins through the K-Merchant app, an e-commerce software solution that connects KBC holders with thousands of online retailers around the world.

Through the complex interplay of these diverse Karatbars digital ecosystem components, gold has been successfully ferried into the digital age. No longer is gold simply a valuable paperweight to put on a shelf of lock in a safe. Today, it’s an agile product tied to a digital asset that can be spent any way Dollars or Euros can. It’s a true innovation that modernizes the gold investment market, and creates (by extension) many new use cases for gold. If you’ve been interested in gold before, consider it again through this new vantage point.

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How Bad Credit Personal Loans Work

Bad Credit Personal Loans Explained

Bad credit personal loans are lending arrangements designed for people who have experienced some type of financial issues in the past. The loans are usually structured to allow debtors to receiving the funding they request and remit installment payments for a specified period of time. While the bad credit personal loan functions a lot like the personal loans you can get from the bank, there are a few things you should know in advance. Here are five essentials to consider before you submit an application.

Most Lenders Require a Minimum Credit Score

While lenders of bad credit loans typically have less stringent requirements, there are still conditions that applicants must meet. For example, the lender is likely to require a credit score that at least meets the minimum standards set. For example, the lender may make it clear that all successful applicants will have a score of at least 550. Check on this qualification before you submit any applications for bad credit personal loans and you’ll save yourself a lot of time and trouble.

Expect a Greater Than Average Interest Rate

By choosing to do business with you, the lender offering that personal loan with bad credit is assuming a greater level of risk. One of the ways that the risk is offset is by charging an interest rate that’s higher than the current average. While it’s helpful to know what the current prime rate happens to be, your chances of being offered that rate are somewhere between slim and none. At best, use it as a means of seeing how close different lenders come to that rate. Remember that there is competition between lenders who offer higher-risk loans. If you are unsure about the rate provided in a loan offer, feel free to see what type of rate you can get with a personal loan for bad credit from a different lender. Even a minor difference could save a reasonable amount of money over the life of the loan.

There May or May Not Be Recurring Charges

The higher interest rate is not the only way that the lender minimizes the risk of offering personal loans with bad credit. There may be fees and charges that are not found with a typical bank loan. For example, you may or may not have fees relate to payment processing or account handling that are assessed on a recurring basis. The only way to determine if any additional charges apply is to ask for a schedule of fees and charges. If you’re not sure what a certain fee relates to, ask for an example. That will give you a better idea about what it will be like to work with that lender.

Not All Lenders Report Your Payment Activity

One of the reasons you are seeking a bad credit loan is because your credit score is low. Hopefully, managing this loan responsibly will result in improving your score by several points. This will only happen if the lender reports to at least one of the three major credit bureaus. What you may not know is that some lenders of personal loans for people with less than perfect credit do not report to any of those bureaus. That’s not a lender you want to do business with, especially if one of your goals is to improve your score. Never assume anything; ask the lender which bureaus are reported to and how frequently.

You Can Often Apply Online or in Person and Have a Response the Same Day

Did you know that it’s possible to receive a response to your application on the same day that you remit it? In both an online environment as well as applying in person, many lenders who offer loans for poor credit will provide an answer in a matter of hours. The funds may be in your bank account as soon as the following business day. That comes in handy if you need the money from a personal loan to take care of something sooner rather than later. Remember that personal loans for less than perfect credit serve a useful purpose. They may be the right solution for you. Do your research, know how to compare offers, and make sure you lock in the best possible terms and conditions. With proper management on your part, you may be able to get better terms the next time.

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