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How to Generate Income from Buying and Selling Gold

Today, the confidence of most nations when it comes to currencies has really faced a downfall. It has plummeted and it has never been the same since then. This is why it is not shocking that there are individuals out there who suddenly entertain the idea of making money with gold. After all, there are just so many news about the surging price of this precious metal. You cannot blame those who chose to preserve and built their wealth through such possession.

When you are one who suddenly earns income with gold, you will understand for sure. For those who are starting – it would all begin with the how and where. If you think about becoming a gold dealer, that is not a bad idea at all as well. Seeking the guidance of a loan advisor about this should work too.

More about Businesses with Gold

If you plan to become a gold dealer, please understand that you might need to have a license for that. This is a way to earn the trust of course. Being affiliated with a tenfold of official numismatic organizations should be okay too. There are those who would are members of the American Numismatic Association (ANA) or the Professional Numismatists Guild (PNG). All of these assist in the position of making money with gold since these groups are trusted professional in the field. If you are to become affiliated with them, you will be credible before your clients. This is the best part of it.

Making Your Purchases Authorized

There are variations in making authorized purchases. For instance, for those who are considered to be an authorized purchaser with the United States Mint, they are usually allowed to secure silver and gold coins and they can do all these straight from the US Mint. Through your business, it is simple to turn them around and also sell the coins. However, the catch is – there would be a required net-worth in order to do this. In your case, it might have to be $50 million. A track record under your name is also necessary. There should be a consistent moving sizeable amount of coins that is going on every year.

The Capital

While there is no need for you to derive anything more than just a license for the general business, you may need to have a start-up capital to keep going. This is included in your requirements for the net-worth so that you can join the PNG. This is also a way to qualify and be an authorized purchaser of the US Mint. If you can allot money for the building and maintenance of a website, that should work too.

In a nutshell

It is okay to start small. There are affordable ways of generating money through your goal. It may not be fast-track but it should be effective if you focus on it. There are still many things to learn about buying and selling well. Check on them first and enjoy the venture!

Tips in Getting a Same Day Loan

There is good news about same day loans – there are lenders out there who can provide 24/7. This is just right considering that emergencies are unpredictable. Most people are usually unprepared for them. As this is the situation, you are going to lose if you do not have money at hand. As for individuals who do not have theirs, it would not hurt to apply for a same day loan. There are tips in order to be successful in this.

How can you become triumphant in this?

Here are some of the tips that you can follow if you want to win a same day loan. Please consider them:

Write a list of lenders

Before starting, it is ideal to have a list of good lenders. As a matter of fact, it would be way easier if you research and take down notes of service providers. Doing this will make you relaxed in the process. You will not have a hard time if only you will go online. Just enter the personal information in order to obtain the results you eye for.

Go for the long terms

Once you are ready, check on the terms and conditions of the company you are to work with. It would help to look at them even before you apply for the said financing. Even the payment terms have to be looked at. There are instances when interest rates and hidden fees are included too. This is also a chance for you to know how the payment must be. Look at the fine print for this.

Know how you can use the loan

In order for you not to have a hard time, discover how the loan works. Knowing this is a chance for you to set expectations. For so many times, approval is earned fast with short-term loans. However, the big difference is that they come in high interest. The access to this type of loan is the best solution for individuals with bad credit scores. This is a solution to abrupt need of cash.

Give correct information

Prior to your application, you must ensure that you double check and proof read all your documents that have your personal information. There are times when the processing might be delayed even in the slightest error in the application. You will not allow this to occur of course. Always remember that the loan is usually granted based on the information you submit.

Indeed, a same day loan is a chance for people with bad credit to improve their standing. This is going to happen for as long as they become vigilant in settling their payment. Just go along the method without any problems at all. The reason of the lender must be pretty understood. Looking at these tips will be the answer to the approval that you are seeking for. Do not hesitate to check on them so that you are guided accordingly. Research on various companies for your farther knowledge!

The Advantages of Working with Licensed Money Lenders

Non-institutional financing that provides loans are referred to as licensed money lenders. They are the answer sought by people in need of quick money. Basically, they have become popular for the attractive interest rates they offer their clients. This can be the answer if you are in search for help.

If you plan to become a borrower, it is your obligation to check the reputation of the company you are about to work with. This is too important not to be given attention. As a matter of fact, you can always do some research so that you may find money lenders who can be of your great advantage. This is going to take place most especially if you fund for real estate investment project.

Perks Provided by Licensed Money Lenders

Deciding to go for money lenders can be life-changing. If you are not yet aware of its possible advantages for you, these are some that you may want to jot down:

  • Quick Approvals: There is no denying that this is one of the major perks of transacting with licensed money lenders. Consequently, there are investors out there who can give approval for just one, to two days. This may happen upon the submission of necessary documents by the lenders.
  • Adjustable Payments: In terms of working with a private lender, there has always been freedom to the creation of a customized repayment plan. This is unlikely to transpire if you are teaming up with a really established financial institution which normally sets their own payment terms. Agreeable terms may be discussed this way.
  • Easy Requirements: In a loan application which comes from a traditional financial institution, you will be bombarded by a handful hard-set requirements. Among these are experience, and income history. You will also like a needle in a haystack to seek bank approvals. You do not have to go through this with a money lender.
  • Non-penalty: When you get a loan from an established bank, there is a possibility that you may have to face prepayment penalties during its maturation date. There are flip, and fix lenders that are not going to charge penalties. This is why if you will derive some extra cash, you have to decide paying off your loan first even prior to the due date. You can do this without worrying about penalties.
  • Bad Credit History: Most big lending institutions look at bad credit history so much. This has an impact on the approval of the applicant. If you find the right private lender, this is given less emphasis. The weak credit history you have will not matter anymore.

Indeed, to get some assistance from financial money lenders is not a bad idea at all. If you feel the need to contact one, you should take time in finding the right company for you. This is going to work if you are still clueless about the right agency to be with. Take time with your research to end up with the right lender!

Important things to know when getting a personal loan for foreigners in Singapore

Foreigner loans in singapore

When looking for a personal loan for foreigners in Singapore, there are a few things you should take note before approaching a moneylender. Generally, when comes to private moneylenders, they provide money for interests which leads to severe issues as well at sometime. However, on the other side, you can borrow money at reasonable interest or without interest by following the various government agencies. If you are really in need of money, then you can easily contact the representatives of agencies regarding the rules and conditions at anytime. When it comes to licensed moneylenders, you can make a good bond between them for its contract.

Key things to keep in mind

keep in mind

  • It is one of the essential things for the borrowers to keep it in their mind before going to visit the moneylenders. One must know that most of the agencies will be providing different schemes for the people. So, it is important for the people to keep it in mind while approaching the money lenders.
  • Make sure about the contractual terms along with financial status and income stuff. So, if you are really in need of borrowing the money, you must be strong when comes to financial wise. For your information, if you are missed to pay as per the terms and conditions, you will be in a pressurized situation. Moreover, because of you, your family may face the issues along with you.
  • Before approaching for the loan, you should be aware of all the conditions allotted by the agencies. Make sure that you aren’t forced to borrow money for favourable terms. If you are 100% satisfied with the terms and conditions of agencies, then you can proceed further.
  • One more thing that you should keep it in mind is, know completely about the contract details in the agreement before approaching for the loan. It is always important for the people to check from top to bottom. Once you are agreed to the contract after reading all the terms and conditions.

Verify moneylenders

verify

Getting more details about the moneylenders are always important for the borrowers to know. There are many moneylenders available in the market but one should verify that the moneylenders are licensed. Most of the licensed moneylenders are seeking for the original proof’s Xerox copies for the verification process. So, it will be important for the borrowers to look at this stuff before getting the money.

Follow the rules after granted loan

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  • After granting load to you, make sure that your allotted amount of a loan has been granted as per rule or not. Most of the agencies will deduct 10% of the principal amount from a granted loan.
  • To avoid last-minute payment, you can pay your loan in an installment which will help you to pay peacefully without any strain.
  • While paying your loan back to the agencies, you should receive all the receipts for each pay and as an evident of payments of your loan.

These are the main things that you should follow if your loan is granted as per the rules and conditions.

How To Choose A Credible Licensed Moneylender In Singapore

Credible Licensed Moneylender In Singapore

There are so many stories concerning loan shark harassing borrowers and moneylenders in Singapore. Some loan sharks even present themselves as licensed moneylenders to potential borrowers. Even then, it is important for individuals to seek for reliable licensed moneylenders.

Potential borrowers in Singapore need to ensure they do not fall prey into one of the loan shark traps. There are actually some simple ways for you to ensure you are getting a loan from a credible and accredited lender.

Here are some important pointers that will guide you so as to ensure you are borrowing safely.

Loan Application Process

Reliable and accredited moneylender will have a simple process when processing loan applications. According to the law, a moneylender needs to make clear the terms and jargon used for a loan. This needs to be clear to you, the borrower and easy to understand.

You also need to be extremely careful concerning certain mistrustful behavior as well. This may include:

  • The use of offensive language
  • Not being issued with a copy of your loan contract
  • Being asked to sign incomplete loan agreement or a blank page
  • Being asked to present SingPass ID and your password
  • Holding of any personal papers (including work permit, driver’s license, and NRIC card)
  • Being offered a loan without any checks being done, such as over SMS, approving online, over the phone, or email

You need to note that a Credit Bureau (MLCB) for Moneylenders exists. This bureau keeps information on borrowers’ loans and their repayments record with the licensed moneylenders. This is intended to assist moneylenders to assess a borrower’s creditworthiness. You can also request a copy of your credit record from them as well.

 

Confirm Their License

Singapore has by now 170 certified moneylenders and each is registered with the Law Ministry. Do not accept to take out cash loans from any moneylender who is not on this list.

 

Loan Limits

There are set limits as to how much ready cash loan a licensed moneylender can offer to a potential borrower. For unsecured loans- those without security- you can take:-

  • Equivalent of $3,000 when your yearly pay is below $20,000,
  • Equivalent of 2 month’s pay if your yearly wages is above $20,000 but below $30,000,
  • Equivalent of 4 months’ pay when your yearly wages is below or over $30,000 but less than $120,000;
  • Any loan amount, when your yearly pay is $120,000 and above.

When you realize that the moneylender you are dealing with is ready to offer you a loan above the authorized guideline. then just know something isn’t right. Do not take out a loan from such a lender.

 

Interest Rates

Licensed moneylenders are also expected to follow the interest rates limits. This is in addition to the set loan limits. Effective 1 October 2015, moneylenders are to charge a maximum of 4% a month in interest rates. When a borrower fails to pay their loan installments in time, the moneylender is permitted to charge a fee. This late interest fee is charged monthly for every month the repayment is made late. And it is capped at 4% a month.

The late interest amount only applies to the loan amount that a borrower has not yet repaid. For example, if you took a loan of $5,000 and you have already paid $3,000 in good time, the licensed moneylender will only charge the late interest fee on the outstanding $2,000.

Other fees that licensed moneylenders are can charge are given below:

  • A fee not more than $60 for every month a borrower makes late repayment;
  • A fee not more than 10% of the principal amount granted; and
  • Court ordered legal costs for the recovery of the loan and successful claim for the moneylender.

 

Statement of Accounts

Once you have received your loan, it is advisable to ensure that the licensed moneylender delivers the correct amount you’ve borrowed. Bear in mind that in having a loan agreement shows that both the moneylender and you are bound by the said contract. Therefore, they need to follow its terms and deliver what was promised too.

When it’s time for you to reimburse the loan, you have to ensure that the accredited moneylender gives you a receipt. The receipt should have the correct date, show the correct cash amount that you have paid, your name, a signature and the moneylender’s stamp. You also need to get a semi-annual statement of account.  Of importance is that you retain all these documents and statements as proof of all the payments you will have made.

When you encounter any mistrustful behavior or when a moneylender does not adhere to the stipulated guidelines set by the Ministry of Law. You need to get in touch with the Registry on 1800-2255-529 or you can email them at OneMinLaw@mlaw.gov.sg.  You can be guaranteed that the Singaporean registry will not reveal your identity. This they can only do without your consent. Nonetheless, they will require that you go to an interview session. It is a good idea to attend as you then collect the relevant information. This will also facilitate the carrying out of a thorough investigation.

It is not advisable for you to take out loans from unlicensed lenders. This will be risking you and your kins lives.  And in specific, consider their loan shark methods of debt collection.

Legitimate Places to Find Good Financial Advice

Every Tom, Dick, and Harry think they know something about something today. This is all good and fine if you’re debating the Yankees season or how to get rid of a rat problem, but not when it comes to your finances. Whether you are looking for advice on personal or business finances, you should always approach or use only legitimate sources. Your drunk friend at the bar or the psychic at the carnival do not qualify.

If you want advice, go to these places:

Bank Institutions

Banks and their consultants are trained, qualified, and know what they’re talking about. They will be able to give you good advice on financial management, business start-up, debt counselling, saving, investments, etc.

Registered Financial Service Providers

Registered financial providers are usually legitimate organisations or individuals who can help people with loans or other monetary solutions. Before you approach one of these organisations, do your homework and find out if they have a good reputation.

Accredited Blogs

By accredited, we mean that the writers have some legitimate knowledge and experience within the finance field. They should be open about their qualifications and you can check their credentials online. There are many finance blogs that are very helpful and legit; you just need to find them.

Friends or Family

If you have a loved one who works in the financial world, ask them for advice. They may not necessarily be able to help with your specific problem, but they will have good contacts. They will be able to put you in contact with the right people who can help you.

Any other place that is not on this list may be very detrimental to your financial health. You don’t want to play around when it comes to your finances, so, stick to the legit sources.

Expert Finance Advice for Business Owners

If you are looking to start your own business, we have a few simple tips to share. Starting a business today is much easier than it was ten or twenty years ago. The finance side of things still ticks pretty much the same, but the things surrounding the finances have become a lot easier. So, have a look at our very simple and easy to follow advice.

  1. Do a lean start-up – Today, you don’t need a huge capital saved up to start your business. You can simply start small and build as the business builds. You can start with a few people who perform functions that are central to your business operations. All your advertising and marketing can be done online for a fraction of the cost of traditional advertising. There are so many ways to get the word out and get people to know about you, that you will be on the map in no time. You don’t need a big office space or a full staff to get started.
  2. Outsource – If you are in need of a specialist for a short time, don’t hire someone on a permanent basis. Rather outsource that position to someone who can work with you on a consultation basis. These consultants often have years of experience with a company and started their own business when they felt the time was right. They also work with many different clients and types of businesses and will have unique insight into business finance and related fields.
  3. Hire a professional – To get things started, consider hiring a professional to handle your finances and get you on the right track. A professional financial advisor or manager will have a lot of knowledge and experience that you may not have. It will be worth the cost to get things started on the right foot.

These are quick and common sense points, but they are important. If we had to add one more thing, it would be to stay on top of your finances always. Be involved and know what is going on even if someone else is managing the finances. Follow these tips and you should be heading for a good start.

Tips to Get Your Finances Back to Normal

Have your finances spiralled out of control? Not sure where all your money is going but there’s nothing left? We can help. We have some good tips to help you get back in control of your financial situation. Money is a funny thing and most of us don’t always know how to handle it the right way. So, whether you earn $100 a month or $100 000 a month, you need to be smart with your money.

When things get out of control, do the following:

Stop and breathe – You will get nowhere if you get frantic and panic. You need to gather yourself and take action. Get a friend or your partner to help you with these tips.

Gather your records – You basically have to investigate your own spending habits. So, gather your bank records, purchase slips, and any other records that may be relevant. Study them and find out where your money is going and where you need to make changes.

Identify problem-behavior and change it – Find the areas where you are spending too much or where things got out of control. If you are buying too many unnecessary things, you need to get a plan together to cut back. If you have a gambling problem, you need to get help. Identify the problems and make a plan.

Make a plan to adjust your behavior – There are many ways to cut back or curb expenses. You start with cutting out anything you only buy because you want it or because you can. If it is not something you need to survive and live, you need to cut it out. You may need some help to break bad habits, so ask your loved ones to help you stay on track.

Get professional advice – If things are dire and you don’t see a way out, you need to consult with professional financial advisors. They will be able to give you the right advice and put in place plans and actions to get you back on track.

It can happen very quickly or it can happen over time, but a financial pitfall happens to many people everyday. You need to be smart with your money and get advice and help when you see that things are going south.