Being Financially Smart (3)


Smart Shopping for Contemporary Furniture in SG

 

Setting up your office requires a lot of work. When you buy office furniture online, you cannot just pick out any item without planning. If you’re a small business owner and is shopping for contemporary furniture in Singapore, here are few tips you can follow to make sure you’re getting the most out of your purchase.

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  1. List down items you need. You have a budget to work on so don’t rush when shopping. You can find a similar item, of the same quality, for a cheaper price, or you can probably find totally different furniture that’s way better than the first one you saw.

Before you buy office furniture online, decide first which items you really need. You don’t want to get more than or less of what you need. You might as well consider the number of your employees along with the items they might need. If you’re planning on expanding anytime soon and recruiting more people, that should be taken into consideration as well.

  1. Window shop. Now that you’re done creating your list, it’s time to choose where to get your furniture. If you have a favourite store where you buy home furniture online, do check out their offerings as well. You might even receive discounts for getting more items, should you decide to include in your shopping few more furniture for your home.

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Never stick to the first good deal you see because you never know when you’d find another that easily beats the first one. If anything, you can always go back. Make sure to compare prices. Small differences add up fast especially if you’re buying in bulk.

  1. Consider function. It’s important that your employees feel comfortable using the furniture so treat this shopping experience similar to when you buy home furniture online. This will also help boost your employees’ productivity as you create an environment that keeps them in the mood for work. If your employee will be on that desk for eight hours a day or so, you’d want to make sure there’s enough legroom and workspace where they can place all their belongings, and still have few more vacant spots so their station doesn’t look cramped.

 

  1. Look into the design. It depends if you are going for a particular theme for your office interior. You can probably check out contemporary furniture in Sinapore produced if you want your workplace to look sleek and sophisticated. You can as well look for industrial style office supplies if you’re going for the unconventional setting. It can be overwhelming to decide which furniture to finally go for so it also helps if you can as well gather suggestions from a colleague or anyone from your team.

Make sure to look into the terms and conditions the online furniture shop is implementing. You’d want to go over the return and exchange policy so you can be sure they’d accommodate your request should anything go wrong with your purchases. As with any other investment you make, whether it’s for office or home furniture. Be sure to plan and think carefully. Never rush. These tips listed above should be able to help you buy office furniture online.

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How To Get Your Personal Loan Approved Quickly  

 

Having debts is no good for improving our personal finances but sometimes it cannot be helped. When times are tough, we have to look for ways to meet both ends and that sometimes mean considering personal loan. Only few here in Singapore can say that they are debt-free. There is always something to pay like credit card balance or mortgage.

Couple Buying Car

Actually, there are some people who spend more than their monthly income. If you fall under this category, you where will you get money for hospital or car repair costs? It is important that you have emergency funds. When these things arise, you have nothing else to consider than personal loans. Personal loans will serve as your quick answer. You can borrow a specific amount of money and pay it back in a monthly basis plus the interest.

You can apply for a personal loan but you have to be prepared because sometimes, you will be turned down. Not all times you can have an approved personal loan. Financial institutions need to prove your standing as a borrower before they can approve the loan application. It is easy to prove your credibility but there are things that you can do to expedite the process.

Here are some things that you can do to get your personal loan approved quickly:

  • Improve your credit: When you apply for something, it will come down to your history. The history will tell the institution of your abilities. In this case, the institutions will gauge whether you are a trusted lender or not through your credit history. Do you pay your balances on time? If you do, the banks will think highly of your good standing. There are many ways that you can improve your credit history. As mentioned earlier, you have to pay your bills on time and in full. It does not end there for you have to spend less than your limit amount. Exhausting it won’t help your history.
  • Exercise discipline: Speaking of improving credit, you need to be a disciplined borrower so you can be considered. Granting you have three credit cards and you pay in full all the time. You also have to pay your car loan as well as mortgage. The bank will consider you instantly if they know that you can handle multiple credits and regularly paying them.

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  • Be realistic: Only apply for a loan that you can pay. You have to be realistic about this. Your loan payment should not be more than forty percent of your monthly income. If your loan payment is more than forty percent, there will be no space for additional expenses and then you have to find another loan which is not good for your personal finances. You need to be familiar with your Debt-to-income ratio or DTI. DTI is your debt divided by your (gross) monthly income. You need to keep DTI low so your bank will approve.
  • Show proof of income: It is normal that when someone lends you money, they expect that you can pay it back. In the case of banks, they need proof of income. They need to know that you have a regular income. Employed people have better chances of getting loan approval. Make sure to keep your certificate of employment and your payslips. Self-employed individuals can still apply for loans but they need to procure other documents like income tax return, licenses and permits and financial statements.
  • Do your research: It is imperative that you do your research first before considering one bank or institution. The trick here is to look for banks with low interest rate and flexible mode of payment.

The tips mentioned above can help improve your chances of getting approved. With your loan money, hopefully things will be better. It should cover what you intend it to be. You have to remember though that you should not depend on loans. Do not make applying for loans a habit because it can destroy you instead of help you at the end of the day.

If you can help it, do not consider loans. The annual interest rate could have been used for something more important. Use the loan to your advantage. As long as you are disciplined, nothing could go wrong.

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The Top Advantages of Credit Card  

 

Credit cards can be of great help but it can be a liability if the person mismanages it. Credit cards are widely used by many Singaporeans here for different transactions. It is rampant because all establishments accept it. The big question now is, are you ready for a credit card? If the answer is still no, you have to stall it. If you are ready for the responsibilities that it entails, you have to seriously learn how to manage it.

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Credit card can give you lots of benefits to the point that you can save money. Remember that your credit history can help you with loan applications. Here are the other advantages of credit card:

Flexible payment terms

Only few banks give you the liberty to pick particular dates so you won’t have a hard time paying your balance. Look for banks that give you this liberty. Do not consider a bank that will dictate when to pay and how often you will pay. There are some banks that will give you the freedom to pay once, twice or weekly depending on your terms. The trick here is to schedule payments during your payday. This is an excellent action so you won’t have any excuses not to pay the balance in full. This can help you save money at the end of the day because you can avoid interests for paying late.

Reward points

To entice more users, banks have their unique reward points. For example, there is a bank that gives you reward point for every $20 spent. As you go along, you will accumulate points and you can redeem it through their partners. There is even a chance that you can use your reward points to pay for your airline ticket. However, be careful to overspend just to earn points.

Freebies

You love to celebrate milestones – like graduation of your kid or your promotion to your anniversary. There is nothing wrong with that. You decide to eat and drink outside. The good news is that there are partner establishments that offer discounts and promos for credit card users. Aside from restaurant freebies, there are certain shops that can give you discount. You have to take advantage of these freebies.

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No annual fees

Annual fees vary depending on the bank. If you haven’t considered this and pursued anyway, you will have to pay annual fee. The thing here is if you know where to look and what to consider, you can waive your annual fees – for life. By waiving the annual fees, you can save hundreds of dollars every year. There are banks that install application booths and waive the annual fees, if you come across these booths, it is time that you take advantage of this.

Cash backs

Not all credit card users know about cash backs. Cash back refers to refunds or rebates you get after making a purchase. The percentage depends on the category – gas, groceries and utilities among others. The rebates can range from two to ten percent. This is one of the most appealing features of credit card. If you use credit cards, you will get rebates compared to nothing when using cash. To maximize cash backs, use credit card for set monthly expenses like water, electricity and cable, internet, etc.

Now that you know the advantages of credit card, the next thing that you need to do is to look for the card with the lowest interest rate. There are many bank institutions here offering competitive rates but to be sure, you need expert advice. Another thing to remember here is to make sure that you don’t pay interest for late payments. If late payment is unavoidable, it is useful if you applied for a card with the lowest interest rate.

It won’t hurt you to research first before indulging. The advantages mentioned above are useful for first-time credit card users. By learning the ins and outs of credit cards, you are one step ahead of managing it. Do not wait for things to get worse before making an effort to manage your credit card. Having a plastic is a great responsibility and it takes a whole lot of self-control but if managed properly, it can be your greatest asset.

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