How A Personal Loan Helps Save You Money?

Whether you’re forking out to cover the costs of emergency medical care or want to put a down payment on a house, a fixed-term personal loan can be a life-changing financial source.

Not only are personal loans the fastest-growing loans out there, but they can also help you to improve your credit score and save money all at the same time.

However, taking out a personal loan can be a daunting experience, especially if you aren’t familiar with the full extent of what they can do, and the repayment process.

Here’s how a personal loan can help to save you some money.Read the rest

How to Properly Budget Your Monthly Finances

What exactly is a monthly budget? 

Creating a monthly budget is a great way to plan for how you will spend your money each month. Monthly budgets are a good idea, as there are many expenses we have, such as bills, utilities, and loan payments that occur on a monthly basis. 

Ideally, your budget should involve spending less than you make each month, which will inevitably leave you with money you can set aside to save up. Budgeting for more than you earn in a month would mean the opposite, often spending saving or borrowing money to make ends meet, which will just draw you into an inevitable cycle. Read the rest

An Introduction to Behavioral Finance

Traditionally, economics and finance have focused on models that assume rationality. The behavioral insights have emerged from the application of insights from experimental psychology in finance and economics.

Behavioral finance is relatively a new field which seeks to provide explanation for people’s economic decisions. It is a combination of behavioral and cognitive psychological theory with conventional economics and finance. Inability to maximize the expected utility (EU) of rational investors leads to growth of behavioral finance within the efficient market framework. Behavioral finance is an attempt to resolve inconsistency of Traditional Expected Utility Maximization of rational investors within efficient markets through explanation based on human behavior.… Read the rest

3 Loan Options for People with Bad Credit

According to FICO.com, 11.5% of American have a credit score that is below 550. 60% of these people will take out another loan and default on that loan. It’s easy to see why fewer lenders are willing to loan to individuals with a credit score of 550 and below.  It’s risky.  

That being said, people with bad credit still have a variety of loan options that can help get through life’s hurdles. This article will detail the 3 most common loan options for a lower credit score, and the golden rules of utilizing them.

Option 1: Online Installment Loans

Installment loans vary in length, terms, and amounts.… Read the rest

Best Premium Credit Card in India 2019

A Credit Card is one of the readily available and popular financial instruments, which offers the freedom of making purchases and paying bills, without having to pay upfront. Moreover, these cards offer a wide array of benefits, in the form of reward points, flyer miles, additional discounts, and brand-specific offers.

However, if you want some additional lifestyle benefits from your card, your best bet is to invest in the Best Premium Credit Card in India. Not only do such cards offer benefits that are above and beyond those offered by regular cards, such as Lounge Access at Airports, but also entitle you to exciting redemption alternatives which can help enhance the quality of your lifestyle!… Read the rest

Confirmation Bias – Understanding Behavioral Biases in Finance

Confirmation bias is the inclination to seek or make sense of news or facts in a way that validates one’s preconceptions. So, during the decision making process for psychologist they will refer to information that supports their decision more favorably. They will rarely give the obvious negative much consideration and since our beliefs and postulations are definitely prejudiced so the tendency to give more attention and weight to data that support our beliefs than we do to contrary data will subtly but gradually have a harmful effect.

An illustration of Confirmation Bias

A very real manifestation of this tendency can be observed in the virtual world.… Read the rest