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Is A Personal Loan Right For You?
Unsecured personal loans can be a great source of quick cash when you need to pay for something unexpected. But is it the right type of funding for you? Understanding the pros and cons of personal loans is the best way to answer that question. Let’s start by looking at the pros!
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Secured vs Unsecured Loans: What’s the Difference?
You may have seen the words ‘secured’ and ‘unsecured’ when shopping for a loan, but what do they mean? Learn the main differences between secured and unsecured loans below!
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How Do Loan Calculators Work
Today, getting a loan has never been easier. With easy online loans in NZ, you can apply for a loan with just a few clicks of a button. Plus, you get the status of your loan application within just a few hours.
Family
What Should You Do If You Need Emergency Funding?
Having an emergency fund is a pragmatic way to cover unexpected expenses that may leave you in a financially straining situation. For one, turning to an emergency fund can save you from financial stress, which could stem from losing one’s job, or becoming sick and unable to work temporarily.
Lifestyle
Why are Millennials Interested in P2P Lending?
Today’s generation of young people need to think very differently about their financial futures than in the past, and we’re finding a trend where a lot of millennials are flocking to non-traditional investment options like peer-to-peer lending. We explore the basics of P2P lending and its benefits below!
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Are Digital Loans the Way of the Future?
Applying for a loan has never been easier. Numerous lending companies offer online personal loans that provide fast funding and other modern conveniences that a typical brick-and-mortar bank can’t. But the question remains—are digital loans truly better than face-to-face applications with a lender at a bank? Let’s discuss the benefits of online personal loans and what sets them apart from traditional lenders. To learn more, read on.
Lifestyle
Buying Your First Car? Learn How to Get a Car Loan Here
Buying a car is a pricey decision, that requires research, planning, and most importantly, financing. If you’re planning to buy your first car, we recommend learning what your financing options are first. Will you pay upfront? Do you apply for a car loan with your dealership? Or will you borrow money online? We know decision-making can be stressful, but it doesn’t have to be with the help of a trusted car loan. Read on to learn how you can get a car loan so you finally hit the road with confidence.
Lifestyle
How Does Credit Work in NZ?
Credit scores are an essential playing factor when you want to apply for a loan in NZ. Your credit history can impact your loan application when you plan to buy a house, renovate your home, pay for medical bills, or even purchase a flight ticket to a specific destination. Credit scores have a significant impact on your life, but what if you want to apply for a loan with bad credit?
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How Does Peer-to-Peer Lending Work?
Peer to peer lending has been offered by New Zealand banks since around 2014, but did exist before that. As a matter of fact, P2P lending has been operating in the US and the UK for more than a decade. But what exactly is it? Here, we’re discussing the basics behind peer-to-peer lending; how it works, the risks involved, and the rules of engagement so that you can make informed financial decisions in the future.
Lifestyle
How to Budget Between Pay Days?
Without a concrete budgeting plan, your paycheck can disappear as quickly as it arrived. Whether you get income biweekly or on a monthly basis, you need to know where your cash is going. The best plan of action is to track your spending and budget according to your financial situation and goals. How? Consider these simple budgeting tips that allow you to manage your cash between paydays and help you reach your savings goals.
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Personal Loans 101: Here's What You Need to Know
Personal loans can be a lifesaver when you need funds fast. We have previously explored the pros and cons of personal loans, and how to tell if they are right for you. If you have decided to go with a personal loan, you will want to know more about the personal loan agreement and the application process. Keep reading to learn more including how to apply for a personal loan online!
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What Do Lenders Do with Your Details?
Lenders assess your financial details in order to determine if you can be relied upon to repay back a loan. During their assessment, lenders closely inspect your bank account, which means they look at your transactions, your savings, your income, and any debt repayments you may have currently or have had in the past. They are essentially evaluating your financial history to see if you meet their criteria for trustworthiness and predictability.
Lifestyle
Car Loans: What Makes Them Different?
Purchasing a new car is a huge investment. It’s a substantial purchase that usually requires expending a tonne of cash that some people don’t have on hand. This is why most individuals look for financing options from loan companies, willing to cover the cost. There are two common financing options: car loans and personal loans. We’ll explain the difference below, so you can weigh which option is best for you.
Lifestyle
Short-Term Loans: Here’s Why They’re Great
Applying for a loan is now easier and more accessible than ever, but with every financial decision comes the responsibility of thoroughly researching what’s best for your needs, including choosing between a short-term loan or a long-term loan. Here, we look deeper into short-term fast loans and the potential benefits they have.
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Questions to Ask Before Getting a Personal Loan
Are you interested in getting a personal loan? These types of loans can be a great help when you need cash fast for things like unexpected car troubles, medical costs, or an upcoming trip. However, before going ahead with a personal loan there are some questions you should ask both yourself and the lender to ensure you make the best financial decision.
Lifestyle
Different Kinds of Loans Explained
Loan uses can vary, ranging from loans that help you pay off your school fees, to loans that help you purchase a vehicle. They also vary in repayment times and urgency; easy cash loans help you immediately pay off an urgent service like a car fix and can be repaid by the next payday, while a mortgage loan allows you to purchase a house and repay it within 30 years.
Lifestyle
Refinancing a Car Loan: What Does it Mean?
Getting a car loan can be a exciting! However, when you start to encounter problems with your finances, have a sudden drop in income, need to pay off a car repair loan, or have found better interest rates, you may want to consider refinancing your car loan. Here, we look into the basics of refinancing—how it works, the benefits, and why it pays to know all your options.
Lifestyle
What Can A Personal Loan Be Used For?
A personal loan is any amount of money that you borrow from banks, credit unions, or online lenders, and they can be useful for multiple reasons. If you’re short on finances, you can use them to pay off emergency medical expenses, wedding expenses, travel, and so much more.
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Digital Lending: What’s The Difference?
The ever-growing global digital transformation of daily services is covering everything in finance with constant innovation from mobile payments to cryptocurrency. It's no surprise to see digital lending become the new buzzword in fin-tech. It is a growing service, and with Covid lockdowns and stay-at-home orders in effect across the world, applications for secured or unsecured loans online are soaring.
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Credit Cards Vs Personal Loans: How They Compare
Personal loans and credit cards differentiate in that a personal loan gives you a lump sum that you can pay back over time, whereas a credit card places a limit on how much you can spend. Each method has its advantages in different circumstances.
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Busting Three Big Private Lender Myths
There are a number of myths out there around private money lenders, who exist to offer an alternative to the powerful banks and credit unions who hold such a tight grip on the financial livelihoods and future of everyday people. These myths often stem from the bad publicity of loan sharks or short-term profit makers who disguise themselves as private lenders.
Lifestyle
How Fast Cash Loans Can Improve Your Finances
In New Zealand, fast online loans have made financing more convenient for Kiwis than ever before. If you’re wondering how to improve your finances, fast cash loans offer significant benefits, especially when there is a sudden expense or unforeseen financial demand. These could be scenarios such as financing an out-of-the-blue funeral, covering the costs of legal fees in a sudden lawsuit or paying off bills during an untimely job transition.
Lifestyle
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Teenagers and Money: How To Make It Work
Educating your kids about money is an important part of preparing them for adulthood, and this means making them aware of the dangers of not having a sustainable budget, and teaching them how to perform basic financial tasks like tracking their spending, or applying for money loans in New Zealand. For many, personal finance is a taboo subject that is inappropriate to discuss, even between a parent and their children. This is perhaps one of the main reasons why many people end up financially insecure and struggling with debt; because they had to learn about smart financial practices the hard way.
Lifestyle
Want a Vacation? Here’s Why You Should Get a Loan for Travel
Have you been hard at work for too long and need a proper break? Or perhaps you have been eyeing up the holiday season for the trip of a lifetime? Either way, having enough funds to live your vacation to the fullest is a must. If you don’t have enough money right when you need it, then it may be time to consider a vacation loan.
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Do Multiple Loan Applications Affect Your Credit Score?
Shopping around for the best rates for your personal loan application is a good idea, but people can often make the mistake of sending out too many applications to do this. Unknowingly, these applicants have often lowered their credit scores, leading to more difficulty applying for a loan in the future. We go through why this is, and what you can do instead of making multiple loan applications.
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Simple Budgeting Tips to Avoid Red Ink All Year Long
A budget will give you a clear picture of where your money is going each month. While budgeting will help you achieve the goals you’re working toward, it can be progressively harder to keep pace as your circumstances change. Here at MoneyShop, we know it doesn’t have to be. We’ve made a list of our top five simple budgeting tips to help you stay on top of your budget from one season to the next.
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