Category Archives: Finance

Responsible Borrowing Practices: Tips for Borrowers

Whether taking out a personal loan, mortgage, or credit card, borrowers should adhere to prudent borrowing practices to ensure they can manage their debt effectively. Good at money lender Jurong East, our institution provides reliable financial solutions tailored to your requirements.

1. Assess Your Financial Situation: Before applying for a loan, take stock of your financial situation. Calculate your income, expenses, and existing debts to determine how much you can afford to borrow without overextending yourself. Consider factors such as your monthly budget, savings goals, and emergency fund to ensure you can comfortably repay the loan.

2. Understand the Terms and Conditions: Thoroughly review the terms and conditions of the loan, including interest rates, fees, repayment terms, and any penalties for late payments or early repayment. Make sure you understand the total cost of borrowing and how the loan will impact your finances in the long term.

3.  Pay attention to both the interest rate and the APR (Annual Percentage Rate), which includes additional fees and charges, to get a complete picture of the cost of borrowing.

4.  Determine the minimum amount required to meet your needs and borrow only that amount. Borrowing more than you need can lead to higher monthly payments and unnecessary interest charges, increasing the overall cost of the loan.

5. Consider Your Repayment Strategy: Develop a repayment strategy before taking out a loan. Determine how much you can afford to pay each month and create a budget to ensure you can meet your repayment obligations. Factor in other financial goals, such as saving for retirement or emergencies, to prioritize your financial needs.

  • Make Timely Payments: Always make your loan payments on time to avoid late fees, penalties, and damage to your credit score.

7. Avoid Using Loans for Non-Essential Purchases: Reserve borrowing for essential expenses and avoid using loans to finance discretionary purchases or lifestyle upgrades. While it may be tempting to use borrowed funds for vacations, electronics, or other non-essential items, doing so can lead to unnecessary debt and financial stress.

8. Monitor Your Credit Score: Regularly monitor your credit score and credit report to track your borrowing activity and identify any errors or discrepancies. A good credit score is essential for qualifying for favorable loan terms and interest rates, so take steps to maintain or improve your creditworthiness over time.

By following these responsible borrowing practices, you can make informed financial decisions, manage your debt effectively, and work towards achieving your long-term financial goals. Remember that borrowing should be done thoughtfully and within your means to avoid financial hardship and debt problems down the line.

Understanding money lending as a function of the economy

Commercial banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner. This is how money lending is a function of the economy. They provide specialized financial services, which reduce the cost of obtaining information about both savings and borrowing opportunities. These financial services help to make the overall economy more efficient.

How Banks Work

Banks operate by borrowing funds-usually by accepting deposits or by borrowing in the money markets. Banks borrow from individuals, businesses, financial institutions, and governments with surplus funds (savings). They then use those deposits and borrowed funds (liabilities of the bank) to make loans or to purchase securities (assets of the bank). Banks make these loans to businesses, other financial institutions, individuals, and governments (that need the funds for investments or other purposes). Interest rates provide the price signals for borrowers, lenders, and banks. For money lending-related information, you can also contact well good at money lending in toa Payoh central.

Through the process of taking deposits, making loans, and responding to interest rate signals, the banking system helps channel funds from savers to borrowers in an efficient manner. Savers range from an individual with a $1,000 certificate of deposit to a corporation with millions of dollars in temporary savings. Banks also service a wide array of borrowers, from an individual who takes a loan of $100 on a credit card to a major corporation financing a billion-dollar corporate merger.

1. Banks help people to save their money and keep their money in safe custody. To

ensure the safety of their money, people deposit their money with banks. Banks accept

deposits and pay interest on deposits. People have the provision to withdraw their

money as and when they require it.

2. Banks also grant loans to people for a variety of purposes. In times of need

individuals, business houses, and industries can borrow money from the banks.

3. Credit provided by banks is crucial for the country’s growth and economic

development. Credit is needed for all kinds of economic activities, to set up a business,

buy cars, houses, etc.

4. Banks also help people in obtaining cheap and affordable loans. This can help people

to grow crops, do business, set up small-scale industries, trade-in , and also

help indirectly in the country’s development. They should do so so that relatively poor

people do not have to depend on informal sources of credit (money-lenders).


Money is created when banks lend. The rules of double-entry accounting dictate that when banks create a new loan asset, they must also create an equal and opposite liability, in the form of a new demand deposit. In this sense, therefore, when banks lend they create money.

What is a personal loan?

A personal loan is a type of loan which can be used for versatile reasons. The other types of loan such as home loan or car loan, can only be used for particular purposes. Personal doesn’t have a fixed area as such.

Personal loans can be a useful option if used wisely. In scenarios where you are running behind your payments and have no other options to manage it, a personal loan can help you in bringing your life back on track. However, it can be dangerous if you do not put a lot of thought into it.

Personal loans are provided by banks as well as private money lenders such as personal loan in toa payoh. But before you make up your mind, here are some pros and cons of personal loans.


1.     Versatility

Unlike other types of loan, personal loan can be used for any purposes unless there are restrictions in place. In most cases, personal loans are meant for personal requirements.

2.   High Borrowing Limits

Personal loans have high borrowing limits. They are similar to credit cards. With high limits, the interest rates get lower. But there is a catch (look at the cons section).

3.   No Collateral

Personal loans do not require collateral. This means that you do not have to put your car or your home on the line as a guarantee of repayment. However, if you fail to repay the borrowed sum, the consequences may be severe.


1.     High Interest Rates

Personal loans have high interest rates. If you borrow a large sum under a personal loan, the interest rates are lower but they are low in a sense. They are still high. With a large sum, you pay large interest. Even if the rate might seem low on the graph.

2.   High Penalties

If you fail to meet the repayments, the penalties are high on personal loans. Go for personal loans only if you are sure you can meet the repayments.

3.   Increase Debt

Personal loans can increase your debt if not used wisely. Personal loans might seem delicious at first but it can turn disastrous if not planned carefully. Personal loans have made people fall into debt and in turn ruin lives.


The prose of personal loans include that they are versatile and flexible. They have high borrowing limits and require no collateral. The cons are that they have high interest rates, high penalties and they increase debt if not managed smartly.

Pros and Cons of Bad Credit Loans

Are Bad Credit Loans a good idea?

It always makes sense to be careful when choosing a loan, especially if it is a Bad Credit Loan, as offers may vary and you can get very unfavorable rates and conditions.

A bad credit loan may be your only option if you find yourself in a difficult life situation and cannot get a traditional bank loan. However, this loan is not always a good solution even when you have no other choice. It’s highly recommended to get as much information on the subject as possible. For example, read carefully “Best Loans for Bad Credit August 2021”. Study the pros and cons of Bad Credit Loans. It will help you understand if this option is right for you or is it worth looking for another alternative.

Benefits of Bad Credit Loans:

• Fast approval. Since Bad Credit Loans also have an online application, the approval process does not take long. In some cases, you will even be able to get a loan on the same day as you applied.

• Minimum eligibility criteria. Bad Credit Loan does not have a lot of requirements. The main factor that you must meet in order for your application to be approved is income.

• Terms of payment. Often, you will have to repay the loan from 1 to 5 years, which is often enough to cover any debt.

• Large selection of lenders. Now more and more lenders are offering their services to people with bad credit. Thus, you can choose the option that suits you best.

• Credit improvement. If you make regular payments on time, your credit score will be improved. You can get more information on credit reports and scores here.

Disadvantages of Bad Credit Loans:

• Interest rates. Since this type of loan is risky, loan interest rates for bad credit are often higher than those of traditional loans. Thus, it can be quite difficult for you to repay the loan if you receive very high interest rates.

• Collateral. Some lenders ask borrowers to provide collateral in order for their loan application to be approved. However, you should understand that if you are unable to repay the debt on time, lenders will take your collateral in order to cover the loan debt.

• Commissions and fees. Depending on your choice, lenders may also charge a loan origination fee, early repayment penalty, late payment penalty, and more.

• Availability. Not every lender provides his services in all states. Thus, make sure that the type of loan you choose is available where you live.

• Chance to get into debt trap. Some lenders have disadvantageous offers with high interest rates that are almost impossible to pay back.

Are bad credit loans a good idea?

Although this loan may be your way out of a difficult life situation, it is recommended that you think several times before applying. This loan would be a good idea if you find an offer with relatively low interest rates and are confident that you can pay off the debt on time.

However, if the selected lender does not verify your income, does not ask for a credit check and guarantees that you will be approved no matter what – you are most likely dealing with a scammer or someone who will offer you extremely high interest rates. If you come across such an offer – refuse it and find another lender who will meet your needs.

How to Invest in Gold?

How to Invest in Gold: Guide for the Beginner Investor

From our ancient ancestors to today’s modern era, gold has been the world’s leading precious metal and the currency of choice. Investors purchase it because it serves as a safety net against inflation, global financial crisis, and political unrest. Not only that, a lot of top investment experts and advisors recommend portfolio allocations in various commodities like gold to lower portfolio risks. 

We will take a closer look at many opportunities when it comes to investing in this precious metal (bullion or coins), futures, mutual funds, jewelry, and mining firms. Only futures, some specialty funds, and bullion provide direct investment opportunities in this metal, with some exceptions. Other investments get the part of their value from other sources. 

What are mutual funds? Visit this site for more info.


It is considered one of the best know forms of direct gold ownership. A lot of individuals think of these things, like the large bars held at government institutions like Fort Knox. In reality, bullion is any form of pure gold that has been certified for its purity and weight. It includes bars or coins of any size. Serial numbers are usually attached to these things for security purposes. 

While heavy bars are an excellent sight to see, their size makes them illiquid (usually up to 400 troy ounces). That is why it is pretty costly to purchase and sell. After all, if individuals own one large bar worth at least $100,000 as their entire holding in gold and decide to sell 10%, they cannot precisely see off the end of their bar and sell it. On the other hand, bullion held in small-sized coins and bars give more liquidity and are pretty standard among investors and owners.


For many years, large quantities of coins have been issued by governments around the world. Check out information over at to find out more about these things. Investors usually buy these things from dealers (mostly private ones) at premiums of around 1% to 5% above their actual value, but it jumped to at least 10% in 2020. Some advantages of coins are listed below.

The price is conveniently available in financial publications

These things are usually minted in small sizes (an ounce per coin or less). It makes them more convenient to invest in compared to bitter bars.

People can find reputable dealers with minimal search and are located in big cities.

Always remember to be careful of rare and older coins known as collectors or numismatic value beyond and above the underlying value of gold. 

To invest in this precious metal, people need to focus on circulating ones and leave rare collectibles to collectors. 

Some of these circulated gold coins include the United States Eagle, Canadian Maple Leaf, or the South African Krugerrand. 

Gold investment | gold funds: Does it still make sense to invest in gold?

The primary issue with bullion is insurance and storage costs, as well as its hefty markup from dealers; both can hinder profit potential. Not only that, purchasing bullion are direct investments in their value, and every dollar change in prices will proportionally change the value of holdings. Other investments like mutual funds may be made in small dollar amounts compared to bullion. It also may not have as much price exposure as bars.

The bottom line

Investors who want to have direct exposure to gold prices may prefer to invest by directly purchasing gold bullions. There is a comfort level in owning physical assets instead of having your investments on a piece of paper. The disadvantage of this is that investors will pay a higher price on this metal’s value of their initial purchase.

Not only that, but investors will also spend money on its maintenance and storage. For individuals who want to invest and a bit aggressive, options and futures will usually do the trick. But always be cautious that these investments are derivatives of the price and can see sharp up and down moves, especially when it is done on margin.

On the other hand, other options are a more efficient way to invest in this precious metal, except for the fact that various contracts need to be rolled over regularly as these things expire. The idea of jewelry as an investment is storied and naive. 

There are too many spreads between the price of jewelry and its value to be considered a real investment. Instead, average investors need to evaluate mutual funds or exchange-traded funds focused on this precious metal. They usually provide the safest and easiest way to invest in this metal.

Tax Obligation Calculator, Return & Reimbursement Estimator 2020

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Relying on the intricacy of your income tax return, you might obtain your tax obligation reimbursement in simply several weeks. Apply Social Safety tax obligation prices. To figure your tax obligation reductions, begin with your per hour price, which brings about your gross salaries and also inevitably your reduction quantities. Allow The Per Hour Wage Calculator do all the amounts for you – after the tax obligation computations, see the yearly pay, and the regular monthly, day-to-day, or once a week take-home. Carefully, while opting for this lease arrangement, one ought to do their expedition on what car they strongly wish, after that work out all the information on the Novated Lease Calculator as well as browse out the information of the brand-new vs. For even more details concerning or to do estimations that entail repaying several bank card, please go to the Credit scores Cards Payback Calculator. A bank card settlement is typically determined as a percent of your equilibrium. Among crucial decisions, you require to make before transferring to a brand-new city or community is exactly how much it will certainly set you back to live there.

If you remain in the industrial task of any kind of kind, howsoever big or little, you must maintain an account of every purchase. Small companies have transferred to complete cloud-based applications. Supervisors have oversight from anywhere they are functioning. When remote workers are working, TimeWorksExpress assists you to understand. Excellent staff members desire to record their dedication to functioning the lengthy hrs needed to release a startup. Reliable file monitoring is crucial for success. It is considered to make the distinction between bi-weekly, which takes place every two weeks, and also semi-monthly, which happens two times in one month, normally on the fifteenth hourly paycheck calculator as well as the last day of every month. Testimonial, accept, or make modifications to timesheets on the fly. Loadout the listed below survey to have our supplier companions call you concerning your demands. You have conserved greater than three years and also $15K. Your rate of interest, as well as an initiative, can enhance their experience. For instance, if a staff member departs on April 13, 2020, the six-month duration for approximating hrs is October 14, 2019, to April 13, 2020, which is composed of 183 schedule days.

Imperfect Competitors

What is ‘Imperfect Competition’

Imperfect competitors exists whenever a market, hypothetical or genuine, breaches the abstract tenets of neoclassical pure or perfect competitors. Because all real markets exist beyond the airplane of the ideal competitors model, each can be categorized as imperfect. The contemporary theory of imperfect versus best competition stems from the Cambridge tradition of post-classical economic idea.

BREAKING DOWN ‘Imperfect Competition’

The treatment of best competition designs in economics, along with modern-day conceptions of monopoly, were established by the French mathematician Augustin Cournot in his 1838 “Investigates Ito the Mathematical Concepts of the Theory of Wealth.” His ideas were adopted and popularized by the Swiss economic expert Leon Walras, thought about by many to be the founder of modern mathematical economics.

The New Language of Perfect and Imperfect Competition

One Englishman in particular, William Stanley Jevons, took the concepts of ideal competition and argued that competition was most helpful not only when devoid of price discrimination, but likewise a little number of purchasers or a great deal of sellers in an offered industry.

Problems With Concepts of Imperfect Competitors

The Cambridge school’s wholesale devotion to creating a fixed and mathematically calculable economic science had its disadvantages. Ironically, a completely competitive market would need the lack of competitors. All sellers in a perfect market must offer exactly comparable items at identical costs to the exact very same consumers, all of whom possess the exact same ideal understanding. There is no space for advertising, item differentiation, development or brand recognition in ideal competition.

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What is an audit?

A lot of people might have heard from “audits” but do not exactly know what an audit is. It’s logical to have this problem when you have never worked with audits before. But now, what is an audit? An audit is a control investigation to determine the status of certain aspects of a business. This is done a report. Actually, there are a few different kinds of audits. In this article I will tell you more about the financial audits.

A financial audit

A financial audit examines the financial report of an organization. It determines if your companies financial status is all right. It tells you more about the financial performance and position of the company over the past period. It will give you a clear report with an accurate representation on where your company stands. 

What is examined in a financial audit?

There are multiple aspects reported within the financial reports. When you will look into it, you will find a balance sheet, income statement, changes in equity, cashflow and explanations. A financial audit makes sure those are done right and will determine if the figures and statements are right.

Who does those audits?

A lot of companies do their audits mandatory, but you can hire an audit firm to do the work for you. In the Netherlands, a yearly audit is required when the company has (at least two) of the following criteria:

  1. Net turnover in excess of 12 million euros plus
  2. Value of assest of at least 6 million euros
  3. 50+ employees