“No Spend Weekend” Challenge Will Bring Down Your Loan Size

Living debt free life is a serious challenge and not everyone survives it. Many people try all the harder to achieve financial goals, but they give up in the middle of their journey. This will not sound strange to you if you have gone through it. You make several plans such as “transferring 10% of your gross salary to emergency cushion,” “building up retirement funds,” “cutting down on discretionary expenses,” and the like, but you collapse.

In fact, you end up taking out loans for funding your expenses. It is not bad to apply for a loan if you have an emergency and run out of money. Ultimately, small loans such as text loans and payday loans aim at helping you tide over. However, they can pose a serious threat if you are not careful with borrowing and continue to borrow to fund your recurring expenses. If you do not want to fall into debt, you will have to survive a “No Spend Weekend” challenge. Now is the time to know what this challenge includes.

This challenge has simply two roles: you need to cut down on your discretionary expenses and you continue to pay your bills. The former rule requires you not to use cash, credit cards and debit cards for a weekend on shopping, dine outs, taxis etc. This will help you save money that you can add to the reserve of your debt payments. The latter requires you not to stop paying recurring expenses such as rent, credit card bills, phone bills and utility expenses. This plan will help you be on top of your debt payments.

However, chances are you fall short of cash despite sticking to this challenge, but you will not likely need a very big amount of money because you will have sufficient emergency cushion. In case it falls short of a few pounds, you can apply for small funding sources from direct lenders.

Each lender follows different policy, therefore make sure that you have done enough research beforehand. You will likely pay higher interest rates in case of impaired credit standing, but advanced research can mitigate the risk of falling in a predatory debt spiral. Some lenders provide text loans with soft credit check and some provide with no credit check. The latter allows you to borrow money without any credit check, but interest rates can be higher.

Text loans are helpful to fund any small expense to avoid embarrassment and awkward situation. Though the amount is small, the repayment can be larger. Make sure that you have the repayment plan and that becomes possible when you run “No Spend Weekend” challenge time to time. So, when are you going to run it?

Description: “No Spend Weekend” challenge will limit you to small loans such as text loans. You will rely on them only in case of emergency, not for your recurring expenses.

A ‘Clarion’ Call For Students With Bad Credit

Financial crisis can occur to anyone on the earth. An amazing factor can be added to the crisis is that people can change their opinion in the matter of financial turbulent. They may look upon this phenomenon to understand the importance of money in a better way. But some people are still in delusion, that it is not everybody’s task to handle money with care and it is only one person’s duty to manage all the finances. It is important to talk about Britons, who have come across a lot of struggle in managing the finances at the time of trouble.

As far as education is concerned, these days every school or institute has raised its standard in terms of education fees. Therefore, UK is the highest in terms of education market. To combat that situation, students are mostly handling their budget by opting for a loan and if one of them falls under the category of bad credit then he or she can apply for student loans with bad credit in UK. 

Fresh on student loans!

A student can apply to loans from those lenders, who are providing funds from two sources: one is private and other is public. Both the sources have their own way to lend the money. Like public lenders lend the money on low-interest rates. The reason behind this is that the public lenders are commonly funded by the federal government and they are very pleased to aid the college go-errs. On the other hand, private lenders interest rates depend on the amount of borrowing.  Hence, they both are good source to lend the money but check all the terms and conditions before applying through these lenders.

What is the best option for a student?

A person, who wants to apply for the student loans, must go for short term funding. This loan is easy to access and you can repay the amount without any hassle. It is considered as the best feature because for a student, it is already a lot more to handle with studies and if that student has to apply for a loan then he or she must opt for small loans. Payday is just an example to make you understand that a student can avail loan to reduce the stress of education fee.

How payday loans are beneficiary to students?

This loan is provided for a shorter period and the second reason is that it can be payback easily. Let us understand with an example, if a student is doing a part time job or gives tuitions to maintain his or her expenses, then he or she can apply for this loan. Getting the approval for it is also very easy and just by filling an online form, he or she can get the amount within 15-20minutes.

There are several other loans like tuition fee loan, maintenance loan, and postgraduate loan as well. It is a just briefing of what you can avail from the lenders.

Loans are applicable for bad credit students as well

Yes, the students who have bad credit score are finding difficulty in getting the loan approval. The modern day lenders are welcoming to the ones, who are dealing with this situation and are in urgent need for some pounds. If a student gets the rejection for a loan due to poor credit, then lenders may use different alternatives to grant the approval. Like, if that student is working then his income status and professional credibility can count on the behalf of the credit score. With the frequent payback schedule, your credit report can also gracefully improve and even can attain the position of excellent credit score.

The bottom line

This is a big call to the students who are facing financial crisis and finding difficulty in getting the approval for a loan. If a student who comes under the umbrella of bad credit then lenders are also ready to help you in its needy situation. Student loans with bad credit in UK have gained popularity because it has served as the best solution to most of the financial situations.