7 Reasons Why You Shouldn’t Lend Money to Family & Friends

    Posted in : Finance on by : David

    Lending money out to family members and friends can sometimes look like a genuine attempt to try and help out especially when any one of them is in a sticky situation and you are the one person who is in a position to help. But sometimes, it may not seem to be the best idea especially when it comes to the time of the repayments.

    Look at these seven reasons why you must never lend money to your friends or family members and make your overall judgment based on these findings.

    1. Open-ended loans

    One thing you must always keep in mind is that loans to friends and family members tend to be open-ended. In most cases, you realize that both the parties don’t actually agree on a set timeline for the repayments to be done. Then there are also never any interests included on the loans.

    Pro tip: if you decide to lend money to your friend or family member, ensure that you set a timeline for which the debt must be repaid and a schedule for the repayments as well. You should even include a deadline in the schedule as well.

    2. Loans are not a priority

    In most of these types of loans, the borrowers may sometimes not realize or even comprehend the urgency with which the lender needs the loan amount back and without a deadline being set on the loans, they end up becoming the borrower’s least priority.

    The borrower also knows that there won’t really be any consequences for overstaying with the loan which makes it the more reason to not prioritize it.

    Pro tip: ensure your friend or family member knows that repaying the loan is a priority and ensure you set a deadline as well.

    3. It’s always difficult to ask for your money back

    Sometimes, it can be very difficult to ask for the money you loaned out to your friend or family back. You care about the borrower and don’t want to feel like you are being pushy.

    Pro tip: if you had already lent the money to your friend or family member, then you need to try and talk to the borrower and try to resolve the situation. Gentle reminders can also help.

    4. A family gathering can become awkward

    This especially happens when you lend or borrow money to or from a family member. Such cases can make family gathering be very awkward especially after there have been previous altercations regarding the loans.

    Pro tip: you can meet up with the other party and come to a private agreement concerning the loan. None of you need to feel uncomfortable or awkward whenever you step in the same room.

    5. The borrower becomes submissive to the lender

    This is always the case whenever the borrower gets some money from the lender and delays with the payment or is unable to pay. In such situations, the borrower may not be able to oppose the lender in any situation.

    Pro tip: if you realize that your borrower is feeling some kind of discomfort having your money, then try and ease the situation.

    6. You are enabling instead-of helping your friends or family members

    You will only be offering the borrowers an easy way out of their financial problems instead of actually helping them work through their issues.

    Pro tip: you should try and put your family and friends in positions where they can improve their financial situations themselves and understand how to manage money. This way, you will truly be helping them.

    7. The borrower may even ask for more

    If you have ever lent money to a family member or friend, chances are high that they may come back to ask for more money from you. Other friends and family members may also want in on the action and ask for www.lendgreen.com loans too.

    Pro tip: try and avoid being the go-to lender to your family members and friends.


    6 Smart Ways to Borrow to Invest

    Posted in : Finance on by : David

    Just pointing it out there, you are sure to get a lot of mixed opinions from different people when it comes to taking a loan to finance your business. Some people will give cautionary anecdotes on the issue while others only general naysayers. Consider talking to experts like Lendgreen about the availability and access of online loans.

    Here are six reasons that can make you reconsider your stand when it comes to applying for a small business installment loan.

    1. You realize a business opportunity that outweighs your debt




    When thinking about it, you realize that every other day, an opportunity passes by you that is, perhaps, too good to let pass up. Let’s say you have come across an expanded retail space, or you find that you can order inventory in bulk and at a significant discount, these are too good deals to pass up. Now you need to weigh the cost of getting a loan to salvage the opportunity that has come by your doorstep to the revenue you stand to generate by it. If you realize that it is worth the risk, then why not go for that loan and see your business grow.

    1. Your building credit for the future

    For small businesses, it is always a headache when trying to qualify for bigger loans, especially when both the business and the owner do not have a strong credit history to back their loan applications. If, in any case, you are planning to apply for such large-scale financing in a few years to come, you can start by applying for smaller short-term loans. Doing this can help to boost your business credit and enable you to secure that large-scale financing you’ve always wanted.

    1. You want to expand your physical location

    Here is a situation where your business has outgrown its location. Take, for example, that you put up a restaurant, and business is so good that you see more customers come in and out daily. Before you know it, the premise is too congested that you can end up losing customers as well. If you feel that the amount of financing to grow your business, then this should be the best time to look for an online loan.

    1. You need equipment for your business

    You realize that your business needs specific machinery, IT equipment, or any other vital necessities to boost your business’ growth. You know that you do not have the cash at the moment, or the money you have does not allow you to make all these purchases. What do you do? Simple, you need to get an installment loan to help you secure all these items. When your business is running smoothly, without any hiccups, it will most certainly boost income. You need to, however, make sure that you toe the line when it comes to deciding what you need for your business to grow, and nice-to-haves.

    1. The business needs fresh talent

    You have a small business with few employees as well. Then you realize that your business is steadily growing and more work seems to be piling up. Eventually, you come to the realization that something is bound to fall through, what with all the work and little labor force. You know it is high time you invest in your business talent. At this point, the only way to keep your business booming is to go for that business online loan and make this work.

    1. Your business needs to have more inventory

    You need always to make sure that you replenish your business inventory with high-quality options and products. Sometimes, you need to purchase large amounts of stock, and you do not have the financial aid at the moment. This can be the best time for you to seek a business loan to come to your rescue.


    The Principles of Forex Market Trading

    Posted in : Finance, Forex on by : Joesph

    Foreign exchange services refer to the services that are offered in exchange for money from one currency to another. Each country operates its currency. Therefore, money brought it from another country may not sufficiently address the needs of the consumers since they are not accepted as a form of money exchange in the market. Different currencies have got the exchange rates. The rates are fixed by the currency exchange Brampton market and determined through the circulation of the various currencies worldwide.

    Forex Exchange Markets

    Money changing takes place in a Forex market. People bring in their currencies and exchange it for their preferred currencies. Trading in Forex markets is determined by the rates in which the currencies are bought and sold. Other factors such as political stability in the country where the currency is dominant may influence either the rise or fall of various currencies in the market. There is no physical place where the currency exchangers meet alongside the brokers to carry out the transactions. Rather, the trading exists in a kind of segmented market either in banks or other financial centers. The main participants in the foreign markets include corporate bodies’ representatives, commercial banks, exchange brokers, and central banks.

    Commercial Banks

    The key players in the money exchange business are the commercial banks. The banks buy and sell currencies on behalf of their clients. Some commercial banks operate on their own. A bank does a cover operation when it enters the market to correct the excess on behalf of various customers it holds. However, money exchange that involves volumes of money between banks may not involve the intermediaries. The foreign exchange services offered by brokers are only engaged when the volume of money traded is minimal.

    Exchange Brokers

    Apart from the commercial banks, commercial brokers play a significant role in the currency exchange for individuals and organizations. Financial exchange brokers are licensed by the government to carry out exchange brokering services involving various currencies. Mostly, the financial exchange brokers offer the currency exchange rates at a lower rate compared to the market rates. Currency brokers focus only on money exchange and do not offer any other kinds of services.

    People may need to move large sums of money in foreign investments as well as sale of goods in foreign market. Financial brokers ease the movement of money and exchanging it for an accepted currency used in the market. The exchange rates keep on fluctuating according to inflation and stability of the nations where the currency is traded. If war occurs in a country, the currency in use is weakened resulting in lowering purchase rates in the Forex market. The US dollar is the most traded currency in the Forex market. The Interchange Financial website may provide additional insights if you need more information.


    When Times Are Tough Considering Taking An Online Cash Loan

    Posted in : Capital Markets, Finance on by : Joesph

    If you are strap for money, taking out a cash loans are one of the best online loans available. You may qualify for a loan with lower interest rates than some short-term loans. This type of loan also offers convenient monthly payments that fit your budget. Some cash loans do not require collateral. Many people need a loan to help them purchase a vehicle, make home improvements or get cash for unexpected expenses. Cash loans online are a great way to get a loan faster than going to your local financial institution.

    Unsecured Loans

    You can find unsecured loans online if you have good credit. These loan amounts range from approximately $2,000 up to $10,000 depending on the repayment terms. The interest rate is a fixed rate that does not change during the term of the loan. A discounted interest rate may be available during special promotions. If you set up payment arrangements that are automatically deducted from your bank account, then you are more likely to get a better interest rate.

    What You Need

    There are two factors that will help you get approved for a loan. You need a verifiable income stream and a source of collateral such as a clear title on a vehicle or equity in your home.  Online cash loans will often place your loan application with a number of lenders. This saves you valuable time and you can compare their terms more easily. Cash loans often have better interest rates since the loan is paid over the course of a few months or years.

    12-Month Payment Loans

    This type of loan is often used to finance a dream vacation, weddings or similar events. You will find online lenders offering this type of loan even if you have less than perfect credit. If you need money fast, then a short-term cash loan may be the right option for you. If you have bad credit, you can expect to pay more for interest rates.

    Bad Credit Short-Term Online Loans

    This type of cash loan is typically paid off within a few weeks or months. Common short-term loans include payday and title loans found online. Payday loans are expected to be paid back within your next pay period. Do not take out a payday loan unless you are sure you can pay it back.

    Title loans often have reasonable interest rates since you are placing your car at risk of non-payment. Most title loan lenders require you to have a title without a lien holder. Lenders will loan you money according to the value of your vehicle. Check with a number of online lenders before you apply for a loan. Cash loans can help you out of an emergency financial situation.


    What Are Managed Forex Accounts?

    Posted in : Finance, Forex, Fund Management on by : Joesph

    Forex market is a place where you can earn handsome amounts of money. Managed forex accounts is a type of Forex account that is managed and handled by a company or a representative. You should choose a reputable and reliable company to handle your Forex account, if you want to make money from the Forex market. Managed Forex accounts are for those people who do not have time to sit in front of the computer and see the market value of the currencies. Managed Forex account is also recommended for new traders who do not have sufficient market knowledge but they want to trade in the Forex market. Management companies charges just a couple of hundred dollars to manage your Forex account. You can find more information on managed Forex accounts on the Internet. So, you should hire a reputable management company to handle your Forex account, if you want to make money from the Forex market.

    Do you want to know how managed forex accounts works? If yes, you need to know what forex trading is. Forex trading involves buying and selling of different currencies of the world. Trading involves buying a currency at a certain price and then selling it at the right time to earn profits. When you get involved in forex trading, you will spend most of your time analyzing the market so that you know when you can sell the currencies you purchased. Your decision will be crucial that will help you achieve small or large profits. Only an expert in forex trading can understand the market trends properly and also predict the market.

    Since many investors do not have enough time to manage their forex trading accounts or do not know how forex trading works, they simply prefer to hire a forex money manager to do the job for them. A money manager is an expert in the field of forex trading who will know very well when to buy or sell currencies. He will handle your forex account and help you earn good revenue.