FinanceLoan Tips

3 Reasons Why Personal Loan Is Better than Credit Card

If you are considering whether to apply for a loan or use your credit card to finance a big purchase, you need this article to help you decide.

Here are some facts that you need to know:

Credit card interest rates are higher than personal loans
The average interest rate is around 3.5% monthly. It may seem small but when you use your credit card for 12 months, you pay for 42% per annum. If you fail to pay your balance every month, the interest is compounded month after month. It results in a massive amount of debt.

A personal loan charges up to 20% annual percentage rate (APR) which is incorporated into the amount you borrow. Each month, you pay a fixed amount for your loan.

Credit card debt can affect your budget
Admit it, the computations of your credit company sometimes confuse you because of constant adjustments in your bill. The unfixed terms make you worry about your next bill.

On the other hand, you can easily fit in your payment to your budget because you know the exact amount. It allows you to plan your monthly budget effectively.

Credit card late payment charges are much higher than personal loans
When you miss your monthly credit card payment, the late payment charge can be as high as 6% of the amount due than personal loan. Together with the interest rate and the balance you need to pay, this can be disastrous to your budget. If you do not pay in full, your credit card debt will grow huge rapidly.

Meanwhile, on a personal loan from money lender singapore, there is a fixed amount of late payment fee that will charge for every month you miss paying on time.

Use credit cards for small and basic necessities. But, make sure that you manage your finances well to avoid enormous charges. For investment purposes or projects, you can also apply for a personal loan with Money Lender Singapore.

FinanceLoan Tips

Things You Need to Know Before You Agree to Cosign a Loan

Saying yes to your best friend or a family member to become a co-signer in a loan is a risk.
You need to know the consequences that you might face in case the borrower fails to pay.

Here are the things you need to consider before co-signing the loan:

#1- It is also your loan
When you cosign the loan, you are sharing the responsibility with the borrower. Know that you will be shouldering the charges, interests, and late fees that will pile up if the borrower failed to settle the payment on time.

#2- Your responsibility remains until the debt is paid
Because you sign the loan contract, ask if there is a cosigner release clause. Remember that your name remains as co-borrower until the debt is paid. If the borrower qualifies for refinancing scheme, it is possible to ask for the removal of your name as co-signer.

#3- It affects your credit score
As soon as you sign your name, the obligation becomes part of your credit record. Your responsibility is equal to the principal borrower. It means that the amount will be figured into the debt to income ratio, which can negatively affect your credit score.

Know that outstanding obligations comprised 30% of the credit score. If the loan is in full, the credit rating of the borrower will be boosted while yours remain the same. In short, you take the risk but no reward, except the gratitude of your friend or your relative.

#4- Find another way to help
Instead of saying yes, help her/him find other options like suggesting that they seek the assistance of Debt Settlement Company. This kind of company helps people get out of their debts quicker and save money. Just make sure that you find the most reputable firm.

With this knowledge, you will be more aware of the risks of cosigning a loan. Be smart and protect your personal credit score by saying no.

BusinessDigital MarketingManagement

5 Tips to Effective Modern Brand Marketing Strategies

Businesses adjust to the changing times, using modern brand marketing strategies to get to a broader audience. Social media branding could very well be probably the most widely used modern technique today. It is the most convenient way of getting a large audience and advertising your brand without having to spend a dime.

Not all companies succeed in social media branding. A skilled personal branding consultant will say it’s more than simply having people follow you. It is about getting their interest and turning that into two things: recommendations and profits. You ought to make a lasting effect on your present and potential clients.

Keep these suggestions in mind when subscribing to a social media site, whether it’s a blog, a social network, or other social media engines. Identify your goals. Improving sales and getting new clients might be your primary goal for creating pages on such websites, nevertheless, these shouldn’t be your only goals. What message would you like to give your readers or viewers?

You’ll be able to come up with more interesting, high-quality materials when you’ve got a specific message or goal in mind.

Choose a voice for the materials. It’s advisable to stick with one voice for the social media campaign. This would let your followers know the distinct character of your business. Do you need to be serious and corporate-sounding, or light and easily reachable? Load materials that present this voice. Doing so can certainly help establish your company’s character in the minds of your followers.

Build your image. Ensure the look and feel of all your social networking sites tie in together. Many people consider appearance as an essential factor for the following product pages. Keep yours simple and clean, yet unique and artistic. Place your logo on all of your materials to encourage brand recall.

Update regularly. One of the primary objectives of social media branding is to personally talk to your market. Be sure you maintain that connection once you begin communicating with them. Most social media sites let you schedule posts and also other updates. Prepare materials in advance so you never use up all your new posts. It’s recommended that you schedule a couple of hours every day and read what your followers say. You could gather commonly-asked inquiries and respond to them in one fell swoop, but do answer whatever you can in a timely fashion.

Set benchmarks. You need to frequently examine whether or not you’re meeting your goals. Evaluate which major performance indicators you will consider depending on your plans. This can include the number of comments you receive, new followers or likes, shares on other media sites, and conversion statistics. Modify your strategy and adjust your benchmarks as you go on.

Find the help of a personal branding consultant. There are quite a few consultants giving personal branding services to businesses online. They understand marketing and branding trends very well and can make it easier to develop a highly effective brand marketing campaign. You’ll save time and energy with their help and know-how.

BusinessDigital MarketingManagement

Basic Guide to Social Media Marketing for Beginners

Nowadays, Social Media plays an important role in the growth of your business because it helps to advertise your products and services to a wider audience. And the potency of your social media advertising determined by the value of content.

First, it’s always better to focus your efforts on only a few social networking channels at first. If you’re all over the place, you’ll have trouble monitoring your campaigns and you might lose track of what campaigns work and which ones don’t. It takes a lot of time to build a loyal following, so it’s always better to start with one or two channels first so that your efforts will be more productive.

Second, you have to make sure that you stay focused and that you follow up with your campaigns. If you’re not consistent, you’ll lose your audience’s interest and your campaigns won’t be as successful. Remember, social media advertising is all about building a relationship with your customers, so make sure that you keep them posted and follow through on every single campaign.

To make sure that your social media advertising campaigns are successful, you have to understand your target audience. If your customers do not use social networks or are not really receptive to social media marketing, maybe social advertising is not the best marketing method for your business.

You also have to make sure that you advertise to the right groups and that you don’t spam people with useless updates that are only focused on selling and advertising your business. Again, you have to focus on building a strong bond with your followers, so don’t be afraid to send non-business related posts every now and then to keep things interesting.

But before you decide to use social media advertising, make sure that you use channels that allow you to track your results. If you don’t know how big of a response a certain ad campaign is getting, how will you know which campaigns work and which ones don’t? So make sure that you track each and every one of your campaigns carefully and make adjustments when needed.

In the end, social media advertising is an efficient and cost-effective way to meet thousands of potential customers in seconds. Just remember to focus your efforts on only a couple of channels first, stay consistent with your campaigns and track your results so you’ll be able to improve your results.


Crowdsourcing Model For Modern E-business

E-business is constantly evolving. The crowdsourcing model with its internet rich community of volunteers and followers has proven to be a platform that will enhance e-business development. As defined by, “Crowdsourcing is the act of outsourcing tasks, traditionally performed by an employee or contractor, to a large group of people or community, through an open call”.

An example of this is itself. is an online free encyclopedia where anyone and everyone is invited to participate. In doing so, the “crowd” has become the author of the largest encyclopedia to date. At the time of this writing, there exist 3,384,039 articles in English alone. This is just since 2001 when Wikipedia was first launched by its founders. paved the way for many other peers to peer sites and opening the ebusiness world up to a multitude of possibilities.

Crowdsourcing has developed a new opportunity for ebusiness owners who want to showcase their expertise. WikiHow for example, a How-to encyclopedia created for and by the crowd allows you to learn about different techniques and articles.

The site ranges from, How to win big in Vegas to how to knit your baby’s first sweater. eBay created ebaywiki where it educates its members on “buying and selling photography” (find another example)

What is fascinating about this particular business model is the drive so many have to contribute. Wikipedia and many others, which use crowdsourcing as their model for growth have grown exponentially in the last few years and many believe the trend is here to stay.

Crowdsourcing, sustains itself on trust and purpose, making this a true paradigm shift for the economic belief that people are driven by monetary compensation.

The community “trusts” its members because they know those who contribute (for the most part) are driven by passion and not monetary gain. BitTorrent, for example, is a social site which helps people share music from one another.

Music unites people and having the ability to tap into music experts in order to discover new artists and music genres is a luxury even the deafest tone person can appreciate because through the wisdom of crowds comes the increased wisdom of each individual community member.

We now live in the age of Transparency. Buyers are more educated because their knowledge base has increased through the interaction of online communities writing reviews, answering questions for one another.

Consumers are now more apt to research forums to get the inside “scoop” on products and their developments. Companies have become savvier to this trend and have now begun interacting with their customers online.

Developers are beginning to interact with their “fans” online and involving them in the production process. And when the crowd feels heard acknowledged and looked after… the lines start forming. Buyers are literally waiting in line or should I say “on-line” for products to come out of production. The production they have been in the trenches with, with products they have helped develop. Along the way building loyalty for the companies’ brand and product line.

Crowdsourcing is the perfect integration of online and offline merging together in the development of e-business.