Making a financial decision is never easy, especially if you know how it can greatly affect your future. Planning ahead and knowing the right time to spend, save, and borrow money can be difficult. Thus, here’s a brief guide to at least help you decide which financial technique is the right one for you this moment.
1. If you badly need it
Before you buy an item, ask yourself first if you really need it. Temptations are everywhere and it’s only normal that you will be confused between your needs and wants.
2. If it is for your health
It is already 2020 but health is still wealth. Do not ever feel guilty in spending money on your medicines, vitamins, check-ups or your health plan. Remember that your mental and physical health is everything and you will never be able to earn without it, in the first place.
3. If it makes you happy or it makes your life more convenient
Spoil yourself with the things that make your life easier. If one cup of coffee can turn your mornings better, drink it. If getting your laundry done in the shop saves you a lot of time, do it. Frequently depriving yourself of things that help you carry on with your life is not healthy and will not ensure your success either. As long as it does not distract your financial goals, do not be too harsh to your own self.
4. If it is what you’ve been saving for.
If you are saving money to buy a new car or to go on an overseas vacation, it may take you months to achieve it. And the longer you worked for it, the harder it is to let go. However, remember that money is best spent on its true goal and it’s your responsibility to reward yourself for a job well done.
1. When you have extra income
Of course, saving money is always good. However, let’s not deny the fact that it is hard especially if your income can barely make up for your allowance, bills, and other financial responsibilities. If saving money will refrain you from accomplishing even just one of these obligations, maybe it’s not yet the perfect time for you to save money, yet. However, do not panic and take this situation as a wake-up call to look for more opportunities and other sources of income.
2. When you want to achieve a long-term financial goal
Financial goals such as buying a car, a house or getting a retirement kit can be long-term, as mentioned above. Saving money for a period of time can be frustrating but as long as you have a clear goal in mind and some strong motivation, you can definitely achieve it.
3. When you have some difficult financial periods you need to overcome
Some periods of our life will require us to spend more than the usual. Birthdays, holidays, vacations, Christmas and worse, unemployment can be financially stressful and saving money for them is one of the wisest answers to it.
However, if you find yourself still short of funds, you can always turn to a dependable lender like Vidalia Lending Corp. With several years of expert service in the field, Vidalia Lending is continuously helping thousands of Filipinos with their financial needs by providing several forms of loans. If you are looking for a fast and easy loan application, just go to our loan page.
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1. For Emergencies and Inevitable Expenditures
Having extra money for emergencies or expenditures is a must but real talk, not all people are capable of providing and earning much. Circumstances such as a typhoon or a car repair can require a huge amount of money and sometimes, the best thing to do is to apply for a personal loan. Online loans are now on-trend because lenders provide easier loan applications and faster loan approval
2. For Immediate Needs
There are inevitable times when your payday is still a week away and yet you are already out of allowance. When this happens, a salary loan is one of the best options for you. Payday loans, lite loans, and salary loans are perfect when you run out of money but certain that you will have funds after a week or two.
3. For Investments
There are several kinds of loans in the Philippines. As an example, Vidalia Lending Corp. offers Lite, Personal, Salary, Small Business, and Business loans. If you want to invest in a business but you are quite short of capital, getting a small business loan would be a great choice. With Vidalia Lending’s Small Business Loan, you can borrow from P20,000 up to P100,000 and choose from 2-12 months payment terms.