Saving Money On Loan Interest

I have never been much of a spender, but when I started investing in real estate, I knew that I had found my calling. I was capable of turning a simple loan into a large return, and it was really fantastic to see my efforts pay off. Unfortunately, sometimes money was tight, and I found myself taking out loans to invest in new deals. However, I was able to learn a few tricks of the trade to save money on loan interest, such as limiting the payback timeline and perfecting my credit. This blog is all about saving you money on interest.

Tips For Finding Money For Unexpected Expenses


If you have found yourself in a spot where you are facing a sudden unexpected expense and you do not have the cash on you to handle it, you might be concerned with how you are going to resolve the situation. To help you with this, you will want to check out the following tips.

Apply For A Payday Loan

A payday loan is a short-term loan that may be available where you live. If your state allows these loans, then you might find a payday loan center nearby or you can access one of many of them online. You will need proof of income, a bank statement, your state ID, and possibly some references. If you are approved for a payday loan, you will be given money that is expected to be repaid by your following payday. Some payday loan companies will work out repayment plans that will allow you to repay the loan over a few paychecks. It is important to remember that this is a loan that you want to pay back as soon as you can -- these loans usually have a very high interest rate, so you do not want to pay that longer than necessary.

Take Things To A Pawn Shop

If you have some things such as old jewelry, televisions, computers, game systems, or even some firearms that you no longer have any interest in keeping, you can take them to a pawn shop. You will generally have two options: first, you can pawn the items in exchange for some cash and you will have a set amount of time to repay the pawn loan in order to get your stuff back. If you don't pay it back on time, you lose your stuff. There is also the option of outright selling your items to the pawn shop; this is a good option if you have no interest in getting those items back and you want to collect as much money as possible.

Get A Title Loan

In order to qualify for this, you will need to live in a state that allows title loans, have a vehicle with a clear title, and have proof of income to show that you can repay the loan. If you meet the qualifications, they will review the value of your vehicle and your income and decide how much to lend you. You can usually receive the cash from the title loan on the same day as your application. They will hold the title to your vehicle until the loan is repaid in full.

With those options in mind, you should have an easier time finding the quick cash that you need for your unexpected expenses.


20 July 2018