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How to Avoid Bankruptcy With Smart Financial Management

How to Avoid Bankruptcy With Smart Financial Management

Declaring bankruptcy helps wipe out unsecured debts, but it greatly damages your personal or business credit score. The record also stays on your credit profile for many years, limiting your chances of loan approval. You can avoid bankruptcy and its long-term effect by practising smart financial management habits.

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How a Small Business Loan Can Benefit You

How a Small Business Loan Can Benefit You

A small business loan can help you stay afloat during a cash flow crisis. It also builds and improves your credit score with responsible repayments. Typically available from fintechs and online lenders, it has less restrictive requirements than banks. Read on to know more about the benefits of a small business loan and how to qualify for one.

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How to Get a Loan for a Startup Business

How to Get a Loan for a Startup Business

If you're planning to launch a startup business or running one that you're trying to grow big in a year or less, a startup business loan can provide the finances you need. Read this article to learn more about its benefits and how to increase your chances of approval.

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8 Tricks to Manage Your Car Loan Effectively

8 Tricks to Manage Your Car Loan Effectively

A car loan is a big financial responsibility that can wreak havoc on your finances if not managed effectively. Before taking out one, estimate how much you can afford. Also, include the expenses that come with owning the vehicle in your budget to ensure that you always have money for the monthly repayments and you can make them on time.

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Getting a Commercial Loan at Low Interest

Getting a Commercial Loan at Low Interest

When shopping around for a commercial loan, it's important to compare loan terms and all fees before finally taking out one. Some may have a low interest rate but plenty of hidden fees that add up to the total cost of your loan. There are tricks that can help lower down the total cost of your loan. Read on to find out.

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8 Steps to Easy Budgeting

8 Steps to Easy Budgeting

Budgeting is essential to efficiently manage your finances and achieve your financial goals. There are a lot of models that you can follow, as well as apps that automate the process for you. To make budgeting work for you, make your goals realistic and attainable and adjust your budget and your lifestyle as necessary.

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Which is the Best Bank for a Car Loan? (Part 2)

Which is the Best Bank for a Car Loan? (Part 2)

There are 53 banks in Australia, most of which provide vehicle financing for personal, corporate and business use. While many of these banks offer car loan programs with low interest rates and friendly loan terms if you have good credit and stable source of income, the best deal still depends on your lifestyle needs and capacity for repayment.

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Which is the Best Bank for a Car Loan? (Part 1)

Which is the Best Bank for a Car Loan? (Part 1)

Australia's biggest banks offer some of the best vehicle financing deals for borrowers with good credit. These financing institutions provide various car loan plans for personal and business use. The best bank for a car loan, however, depends on your needs, financial situation and budget.

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Business Funding: Should You Get a Loan or Borrow from Family and Friends?

Business Funding: Should You Get a Loan or Borrow from Family and Friends?

When it comes to business funding, it is generally wiser to take out a loan from a lender than borrow from family and friends. While the latter option may help you avoid interest and repayment deadline, you risk strained relationships and acquire debt of gratitude. This could lead to involving your loved ones in your business decisions and sharing your future profits with them.

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What are the Benefits of Business Loans?

What are the Benefits of Business Loans?

Business loans help companies fund new projects and opportunities for growth. They offer many benefits that personal financing and investors cannot provide. Before taking out one, take careful consideration of your business needs, strategies and goals. Make sure that you can repay the loan on time to build your business credit profile.

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How to Calculate the Finance Charges on a Car Loan

How to Calculate the Finance Charges on a Car Loan

Are you taking out a car loan? Aside from the principal amount and the interest, there are many other expenses that you have to factor in. Identifying these fees will help you estimate the total cost of your loan and how much you can afford to spend. There is no single formula for calculating the finance charges of a car loan, but the computation usually includes the principal, interest rate, loan term and frequency of repayment.

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Why Tracking Your Expenses Is Important

Why Tracking Your Expenses Is Important

Regularly tracking your expenses is an important part of successful financial management. It helps you become more aware and conscious of your spending, which is helpful when you're trying to save money or planning to take out a loan.

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The Cheapest Ways to Get an Auto Loan

The Cheapest Ways to Get an Auto Loan

Finding the best car loan deal is not easy. However, several ways can help you negotiate for the lowest interest rate and best terms. These include having a good credit score, seeking pre-approvals from various lenders, getting 0% financing, and using an auto loan calculator to determine how much you can afford.

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What Is the Best Car Loan Term?

What Is the Best Car Loan Term?

The best car loan term depends on your needs and financial situation. While a long repayment period lowers your monthly payments and makes financing seems affordable, it puts you at a greater risk of negative equity. A short-term car loan, on the other hand, can help you settle your debt fast but requires larger monthly payments that may be difficult to sustain.

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What Credit Score Is Required to Buy a New Car?

What Credit Score Is Required to Buy a New Car?

A good credit score is one of the most important requirements when you buy a car through auto financing. Aside from increasing your chances of approval, it helps you get lower interest rates and favourable loan terms. Before taking out a car loan, work on improving your credit score first. If you've already taken out a car loan with high-interest, refinance it when your credit score improves.

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How Much Money Do You Need to Retire?

How Much Money Do You Need to Retire?

Saving for retirement should begin in your early 20s when you still have plenty of time to grow your wealth. If you got a late start, however, it's never too late to start. Either you can save aggressively to compensate for the lost time, or you can continue to earn money in your senior years.

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What Is Cash Flow Lending and How Does it Help Businesses?

What Is Cash Flow Lending and How Does it Help Businesses?

Businesses that are temporarily underfunded and in need of money to meet working capital needs can get financing and use their future cash flows as collateral. While it is easier to get approved for than standard business loans, borrowers can increase their chance of approval if they have good credit scores, bank statements and sales revenues that all reflect a strong financial capacity to repay the loan.

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How to Create a Business Plan: A Template for Startups

How to Create a Business Plan: A Template for Startups

If you’re a startup founder or a small business owner who’s looking to seek financing from lenders or attract investors, it is essential to create your very own business plan. Not only will it help you map out your business direction, but it will also help you get the necessary funding.

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How to Get a Car Loan if You Already Have a Personal Loan

How to Get a Car Loan if You Already Have a Personal Loan

Yes, you can secure a car loan even when you have a personal loan to pay off. Lenders are likely to approve your application if you have a good credit score and a good income that gives you the financial capacity to repay the loan. Your chances of unconditional approval will also improve if you pledge your vehicle as collateral, provide a substantial down payment, and get pre-approved for vehicle financing.

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What is the Best Way to Shop for a Car Loan?

What is the Best Way to Shop for a Car Loan?

It’s smart to get a car loan pre-approval before accepting any offers because it helps you get an estimate of how much amount you can borrow and afford to repay. Knowing your borrowing power helps you efficiently compare interest rates and loan terms from multiple lenders and puts in a favourable position on the negotiating table.

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How to Get a Student Car Loan

How to Get a Student Car Loan

College students can get approved for a student car loan in Australia as long as they are of legal age and are a natural-born or a permanent resident of the country. However, because they have an insufficient credit profile and may not have a stable source of income, they typically need to have a cosigner and a large down payment to secure the loan.

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