Understanding Budgeting Loans


If you are considered low-income and have a financial emergency, you may be able to borrow money from the government. While there used to be several types of loans offered by the government, such as the Crisis Loan and Community Care Grants, the only loan now available is the Budgeting Loan. There are certain requirements that must be met in order to be eligible for this type of loan, but if you meet these requirements, it can provide one of the best ways to obtain the financing you need. Below is some information about the Budgeting Loan, how to determine if you are eligible and how to apply.…

7 Effective Alternatives to Borrowing Money

If you are in need of funds that you do not have readily available, you may consider taking out a loan and borrowing money. While this may seem like a good idea, you must understand that you will be paying this loan back over several weeks, months and years. You will also be paying back much more than you originally borrowed. The best plan is to avoid borrowing money if at all possible. Below are seven effective alternatives that you can try instead of borrowing money and going further into debt.


Talk to Your Lenders

If you are behind on some of your bills, or even your home mortgage, contact your lender before you consider borrowing more money.…

The Essentials of Buying Your First Home

The most expensive item that most people ever purchase is their home.  In terms of cost, every other purchase, from your car to your wedding, pales in comparison.  For first time home buyers, it can be a very exciting time, but also a very stressful time.  There are many factors to consider before a potential home buyer can even consider looking at homes.  

 What is your Credit Score?

Knowing your credit score and making the best use of your credit score is an important step in the home buying process.  If your credit score is poor, you might not qualify for a mortgage at all.

Look To The Western Sky, For A Scam

I was watching TV the other night, and a commercial for Western Sky came on.  The commercial stated that you could have up to $5,000 deposited into your account by the next day.  The next thing that was said is what really got my attention.  The lady speaking on the commercial said ‘yes, the money is expensive, but it’s still cheaper than a payday loan.’  They are admitting that the interest rate is high! I had to know how high.

I put my DVR to work, and rewound the commercial to a point where there was extremely small writing at the bottom of my screen.  What I read next was shocking;

“Terms for a $5,000 loan are 116.73% interest rate with 84 monthly payments of $486.58”

I was astounded that they can actually charge 116.73%!…