Tag Archive budgeting

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Post Covid Wedding Season Loans

Dreaming to have a perfect wedding but having some hard time with the expenses? LoanTodayUSA.com is here to the rescue! A wedding loan is a sort of personal loan targeted towards engaged couples who can’t afford to pay for their weddings with cash. With the average wedding cost continuously rising, fewer individuals can afford to pay for their big day out of pocket. Due to increased demand, wedding loans – a form of personal loans – are becoming more readily available and may provide lower interest rates than credit cards and other financing choices.

 

 

We’ve come up with some reasons on why you should get a wedding loan for your big day:

  • They’re a quick and easy way to obtain cash. As you begin to plan your wedding, you’ll notice that your venue and vendors want deposits to reserve their space and services. These expenses may rapidly mount up, especially when you include in your wedding gown and accessories. A marriage loan might provide you with the funds you need to cover your deposits if you don’t have a large sum of money in your savings account.
  • They’re simple to obtain. Once you have your financial paperwork in order, you can often apply for a wedding loan online in a matter of minutes. If you’re accepted, your bank or loan provider will examine your application and deposit the loan amount immediately into your account.
  • You will receive your funds promptly. In a few days, most lenders will examine your application, approve it, and deposit your loan funds. Some lenders even guarantee loan funding in as little as 24 hours.
  • Better than credit cards in terms of interest rates. If you have a good credit rating and a long credit history, you may be able to acquire a wedding loan with a cheaper interest rate than your credit cards.
  • Prepayment penalties are not charged on some loans. Some loans allow you to pay off your loan early without incurring penalty fees, potentially saving you money on interest. You may not have to pay any interest if you plan to pay off your loan with cash presents from wedding guests, or if your parents or other family members have pledged to help fund your Big Day. Check the terms of your loan to see if prepayments are permitted.
  • Your credit score will increase. Couples who want to develop or improve their credit might do so by repaying their marriage debt on time. Make sure you don’t skip any installments or pay late. A better credit score will make it simpler to get loans in the future and will help you to keep your interest rates low.

Plan your wedding down to the last detail to keep your costs under control. Determine where you can save money as much as possible and choose the more realistic option. Try to keep expenditures low and take charge of your wedding budget by reducing the guest list, switching to a different location, or purchasing ready-to-wear entourage costumes. This way, if you need a wedding loan, you’ll know how much you’ll need.

LoanTodayUSA.com can help you and your partner plan for your special day. With our affordable and fair rates, getting a wedding loan can be very stress-free and simple. We look out for you and your partner by making sure your needs are satisfied as well as your capacity to repay the loan by providing you with a number of viable choices.

ByTodayLoan

Corona Virus Budgeting Tips on Families

You may have heard that the cost to raise a child to the age of 18 has surged to a staggering $233,610. This is actually a average base case cost of raising a child in the United States, per United States Department of Agriculture (USDA).

One way to start budgeting is to list what you earn, spend money on and owe. It can help to look at past salary statements, benefit statements, bills, bank statements and credit card statements. If you spend or earn money any other way, be sure to look at this too.

LoanTodayUSA has some 7 budgeting tips for families raising kids:

#1 – DON’T “KEEP UP WITH THE JONESES.”

Jim, who blogs at Route to Retire and has a seven-year-old daughter, says one of the biggest money pitfalls he sees in his area is too many people trying to keep up with the spendy habits of their neighbors.

“Parents want their kids to be happy, but a good majority of them thinks that money is the way to make that happen,” he says. “Spending big money on toys and gadgets, big birthday extravaganzas, and exorbitant Christmas presents is the norm around here.” He and his wife try to keep things simple and avoid spending to keep up with others, he says.

#2 – SAVE ON ENTERTAINMENT AND BABYSITTERS.

It’s easy to overspend on fancy outings with the kids, says Rosemarie Groner, the blogger behind The Busy Budgeter. Groner, who lives with her husband and kids — ages 2 and 5 – in North Carolina, says they keep it simple and look for free stuff to do. They buy a year-round family membership to their local aquarium for $80, for example, frequently have play dates with friends, and take turns hosting dinners with other families rather than paying for everyone to eat out. And when it comes to babysitters, they “swap” babysitting nights with other families instead of hiring someone.

#3 – BUY LESS HOUSE THAN YOU CAN AFFORD.

When it comes to housing, Groner says they thought long-term and bought a house that was well under their budget but offered room to grow. “For us, that meant moving to a cheaper neighborhood with better schools,” she says.

#4 – DON’T BUY EVERY GADGET IN THE WORLD.

Blogger Chelsea Brennan of Mama Fish Saves says one of the biggest ways she and her husband have saved on their 22-month-old son and baby on the way is by not buying every last gizmo and gadget.

“We keep the costs of parenthood down by never buying anything as soon as we perceive our son might need it,” says Brennan. “For instance, with teethers, when he was popping a tooth we would try to give him cold washcloths or a carrot from the fridge for a few days. If he still seemed like he needed something after that, we would look on local giveaway groups or give in to Amazon.”

Brennan says that, over the past two years, they’ve realized most “needs” dissipate after a few days and their son is generally happy with Tupperware, spoons, sticks, and books for toys.

#5 – LIMIT SNACKS.

Fearon and her husband have adopted the French model of feeding by only allowing her kids one snack time per day. While the change was hard to implement, she feels it’s worth it. “The issue we had been having was that our children wouldn’t eat all their dinner, but then would be hungry come bedtime. But once we switched to only one snack time a day, they actually started eating all of their dinner.” As an added bonus, this change also led to less food waste at dinner time (saving money) and lower snack spending overall.

#6 – LIMIT TOYS, TOO.

“Hands down, toys are the biggest thing that I see parents overspend on,” Fearon says. Fearon says she gives her kids money for savings instead of toys on their birthdays, and they only get one toy for Christmas. “This saves us a ton of money and saves our sanity when it comes to managing all of the toy chaos.”

#7 – RESIST THE PRICEY ELECTRONICS & IPHONE APPS.

As kids get older, everything they want tends to cost more. Nowadays it seems like every kid has a smartphone or an iPad or a brand new video game system – or perhaps all of these things and more. AM says limiting these big splurge purchases is one way they’ve kept their spending under control as their kids have gotten older.

“We have conversations about how when you wait, these things drop in price and more games become available,” she says. Their eldest child is old enough to understand that and has learned patience and delayed gratification. “These are skills that will serve him well as an adult.”