Essentially, the way women manage money is different to the way in which men manage their finances, often since they balance a family life and career and have less time to consider financial factors. Nevertheless, all women to engage in sound financial planning to protect themselves in times of crisis or stress.

When it comes to finance for widows and divorced women, prevention is better than cure. Acting before you become widowed or divorced allows you to plan effectively for your financial future, whatever the future may bring. In fact, by the age of 64, 1 in 4 women or on their own due to separation, divorce, or the deaths of their husbands; and of the widows now living in poverty, 80% were not living in poverty before their husbands died. On a positive note, 8 in every 4 women will take control of managing their own money at some point in their lives.  These figures show how important it is for women to take control of their finances.

The most important step in taking financial freedom is setting a budget and becoming more aware of the incoming and outgoing of your money. All women should assess their income and expenses, make a budget and stick to it. The budget should include savings money, however small that amount may be. If you stick to this budget and stick to your savings, the amount of money at your disposal will continue to grow.  A budget gives you power over your money as you establish ahead of time where your money will be spent rather than spending unconsciously. If you are worried about being disciplined, set up a savings account where you deposit a set amount as decided by your budget as soon as your income is received.

Remember that a budget is subject to change along with your lifestyle, so you can adapt it accordingly. However, always budget for some form of savings to relieve your anxiety in case your primary income is somehow lost.

A high income does not necessary equate to wealth if the income is being spent as it comes in. This means lots of spending money, but doesn’t allow for the accumulation of funds and the growth of personal wealth. Salaries and incomes should be used not only to consume, but to accumulate assets that will further their income and increase their wealth.

Investments worth considering

Once you have established a budget, you can begin to invest your money in preventative and wealth-increasing schemes with the money you save each month:

• Emergency Funds: This investment should be liquid so that you can get your money in a hurry if needs be.
• Life Cover: To look after children or others left behind in case something should happen to you.
• Education: Saving for your children’s education should be a priority and you want to be sure you can provide for them if you become widowed or divorced.
• Pension Planning: When you are no longer able to earn an income of your own, you need to have money to support yourself as you don’t want to rely fully on your children (if you have any). Remember too, that women generally live longer than men, so you need to be sure you have sufficient funds to see you through your old age.

Finance for widows and divorced women is available if women plan accordingly. Women today need no longer rely on their men for their financial futures. A man does not equate to a financial plan, and women need to take their destinies into their own hands. Achieving financial freedom eases the burden of being widowed or undergoing a divorce.

Finance for Widows and Divorced Women is an original post from: Loan Solutions

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Perhaps you have bought a property at a good price with the intention of doing it up and making it into the home of your dreams? Yes, your first bond will finance your brick bargain, but where do you get the money to turn it into somewhere you would actually like to live? This is where taking out a second bond can be your only choice and is a convenient finance option since you already have taken out your first bond.

A bond is a kind of debt security and often refers to a home loan. Because houses are expensive assets, people don’t often have the cash in hand to pay for the property outright and will need to take out a loan (or bond) from a lending institution such as a bank. The bond is specific amount owed and you are not able to exceed the amount owing.

This means that any further alterations you want to make to the house will come out of your own pocket or from a second bond. If you require additional funds over those provided with your first bond, you can take out a second bond and register it over your property if you have already taken out a first bond. Different lending institutions and banks may have different requirements for you to take out a second bond, but here are some general second bond tips and finance options.

• Make sure the value of your property has sufficient equity for you to be able to sign up for a second bond. If you owe too much on your loan, it is unlikely that you will be granted a second bond. The bank or lending institution will have to conduct a valuation of you home to assess whether or not you should be granted a second bond in terms of how much you owe on the value of your home.
• You must have a good history with your current bond, meaning that you must have paid all debts regularly and on time. If you are in arrears or have defaulted on payments this will reflect poorly on your credit record and you may be denied further lending.
• A second bond may sound well and breezy and like just the fix you need – just remember you still have to pay for it. Before you apply for a second bond, make sure that you can afford it. The bank will be able to calculate whether or not you qualify for a second bond (similar to the way they did when you took out your first bond, as stipulated by the National Credit Act.
• A second bond doesn’t necessarily have to be used alterations and additions to your home; in fact, you are able to use the money from a second bond as you please, covering personal expenses or even a holiday overseas.
• If you are taking out a second bond as debt consolidation (as a means of repaying other debts), this means that you will be taking out a long term debt to pay off short term debts (such as accounts, credit cards etc.) and this can have its limitations.

In terms of financing, the bank will combine the original bond with your second bond, meaning that you will only have one amount to pay each month. Registering a second bond is usually a quick and easy process as no transfer is taking place and all your details are already recorded and registered. When you take out a second bond, there are a number of costs involves including:

• An initiation fee
• The monthly home loan administration fee
• The fee to register your bond
• Valuation fees

Because interest rates on a home loan are usually lower than other types of finance, taking out a second bond can be a cost-effective way of getting your hands on some extra finance.

Second Bond Tips and Finance Options is an original post from: Loan Solutions

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5. Options for Blacklisted People Needing Car Finance

Am I eligible for vehicle financing?

To qualify for online car loans you need to:

• Have a valid South African driver’s licence
• Be a South African citizen
• You must be permanently employed
• You must have a clear credit record
• You must earn over R6500 per month

What documents will I need?

Although some lending institutions may require different documentation, the most common documents you will need for individual application are:

• A valid copy of your identification document.
• A valid copy of your driver’s licence
• Three of your most recent bank statements
• Your most recent payslip
• A document showing proof of your residential address. This document cannot be older than three months.

For business applications, the company will need:

• Stamped 6 months of bank statements
• The last 6 months of financial statements
• Proof of the business address (not older than 3 months)
• CK documents.

Where can I get online vehicle finance?

There are a number of lending institutions that offer convenient and quick online vehicle finance.

• Carfin (http://www.carfin.co.za/) was the first independent company to specialise in financing the private-to-private car sales market. At Carfin, you can apply for vehicle finance online to get speedy access to the funds you need. The service is safe and easy and there are FAIS accredited managers on hand to advice you on your finance options and other products. To contact Carfin you can visit their website, or call them directly on 0861 227 346, fax on 086 675 7473, or email on info@carfin.co.za
• Vehicle Traders Financial Services (http://vehicletraders.co.za/vehicle-finance-for-used-cars-loans.html) will assist you in your online application for car finance. All you need to do is complete an online form and a car finance provider will be in touch with you shortly to guide you along the vehicle finance process.
• You don’t need to go private to get online vehicle finance to help you buy a car; many banks now also offer an online vehicle finance application option. Banks such as FNB, Standard Bank, Absa and Nedbank all provide a service that allows you to apply for car finance without actually going into the bank and visitng a broker. Visit their websites to find out more.

What services do online vehicle finance providers offer?

Although all online finance providers have a different company structure, some of the services you can expect from lending institutions include:

• National call centres with highly trained staff to help people around the country with any queries they may have.
• Fast and convenient application processes that are quick to complete and are preapproved in no time.
• A staff of business managers who can give advice over the telephone, meaning that you don’t have to move from your home to get the support you need.
• Many websites offer an online credit check to help you speed up the approval process if you have a clean credit history.
• Value added services such as the provision of vehicle insurance, warranties, and other such products.
• Negotiation services with private sales to get the buyer the best possible rates.

With all these services and more, you can see why more and more people are choosing the convenient option of online vehicle finance providers for car funding solutions.

Get Online Vehicle Finance to Help You Buy a Car is an original post from: Loan Solutions

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What is a home loan?

A home loan is money lent with interest for the purpose of buying a house or similar property. The lending institution will require regular payments with interest from the borrower to cover the cost of the property over time.

What is a bank bond?

A bond is a formal contract in which a borrower is required to repay money borrowed from an authorized lender with interest over fixed, regular periods. The interest on the bond is compounded either monthly or annually. The term “bond” is often used in connection with money borrowed to pay for a house or property and a bank bond refers to a bond between the borrower and a bank that has lent him or her the money to buy the property. In other words, a bond is a kind of loan that gives the borrower funds for a long-term investment such as a house or property. Bonds usually have a defined term of payment, often lasting for many years. Essentially, a bond is a type of home loan; and a bank bond is a home loan offered by a bank as the financing institution.

Should I take out a Home Loan or Bank Bond?

You have seen the house of your dreams, the price is right, and you want to buy it. The next step is to approach a lending institution to get financing for your purchase. The question is: who wins in home loans vs. bank bonds? In other words, should you approach a private lending company or the bank to loan you the money? In fact, it all depends on your unique situation and who can offer you the best deal for your purposes. To help you decide, here is a pros and cons list for bank bonds and home loans.

Bank bond pros

• If you already use the particular bank, you can be eligible for discounts and you can use relationships you already have to your advantage.
• You are guaranteed that the bank will be accountable and trustworthy.
• In some cases you may get more favourable interest rates.
• You can make automatic payments or stop orders from existing accounts you have at the bank.
• A local bank will understand the local property market better than a national company servicing the whole country.
• There is more stability in terms of the fees charged.

Bank bond cons

• The loan programs on offer will likely be more conservative, rather than innovative.
• You have to go through a lengthy and bureaucratic process to get a loan.
• If the bank does not specialise in bonds, the service may not be as competent as you would like.
• If you have a bad credit rating, it is unlikely that a bank will finance your home. You have a better chance with independent home loan companies.

Independent home loan company pros

• These institutions are often less bureaucratic and can process and approve your home loan quicker.
• The company may specialise in home loans, meaning that all employees will have experience dealing with these transactions.
• The loan terms can be more flexible and you may receive more tailor-made services.

Independent home loan company cons

• These institutions may not be reliable as well-established banks.
• They may make false promises without repercussions.
• They may not have access to certain loan programs.

At the end of the day, it is in your interest to do some research and shop around so that you can get the best possible loan for your needs with the lowest interest rate. It is important to consider the type of loan you need, how much money you need, as well as your eligibility to get a particular loan program.

Home Loans vs Bank Bonds is an original post from: Loan Solutions

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Now you may be wondering exactly what this means?  Well firstly pensioners earning less than R5600 will receive a 100 percent rebate on property and those earning R5600 to R10300 will receive a 50 percent rates rebate. What is more is that if you are a pensioner on a national security grant will receive a 100 percent rates rebate. The reason for this increase says Geoffrey Makhubo, a member of the mayoral committee, is because the city has realized that pensioners are faced with financial difficulties and as a result they felt that they needed to provide them with some much needed relief. The cap for property rebates in Johannesburg is that of R1.5 million.

However, should you not live in the city of Johannesburg and you are wondering why there is no relief for pensioners in your city, then have no fear. The current pensioner rebate in the eThekwinin municipality currently stands at R210 a month. Pensioners in the eThekwini municipality who own properties valued R3 million were previously not granted rebates for their properties. It was therefore decided to increase the cap to include R3million homes, This however has caused a major uproar as a report shows that pensioners who lived in homes valued at less than R2 million were in “greater need of assistance”.

However, the eThekwini municipality has decided to stick to the cap proposed being that of R3 million as they feel that should they stick to the R2 million cap, many of the pensioners in the municipality would have been negativley affected.

If you are a pensioner and you are wondering how you apply for such a rebate, then there are a few simple steps that you need to follow.

Firstly, in order to qualify:

1. You need to fall within the cap as set by your municipality
2. You must be property owners and live in the property for which the rates rebate is applied

In order to apply, you need the following:

1. Certified copy of your South African identification document
2. Certified copy of your pension card
3. Proof of income such as a bank statement
4. Certified application form by Commissioner of Oaths.

If you are a pensioner and you feel that you need a property rebate in order to help you with your monthly expenses and you qualify, then why not apply through your municipality for a property rebate. You have worked for years and have served the country as a tax-paying citizen for many, many years. It is therefore you turn to get something back, even if it is a few hundred rands a month. We have all heard those horrible tales of pensioners having to live in squalor due to the fact that their pension funds have run out and they have had to sell their properties. This property rebate may not seem like a lot of money but it does provide pensioners with some much-needed relief.

There is no shame in getting some help from the government seeing as you have helped build the economy, which they manage for many decades before you retire. That extra few hundred rand a month could be the difference between surviving and losing everything so why not visit your local city website and see where you can apply.

Finance Relief for Pensioners is an original post from: Loan Solutions

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• Unsecured Credit in South Africa and East Africa
• Affordable Housing
• Assurance
• Educational Products
• Cellular Products

If you are in the market for a personal loan and are not sure where to get one from, then why not obtain finance with Real People loans. The personal finance division of Real People offers a wide range of products that range from emergency finance, planned purchases and many other areas. The products offered by Real People offer the following benefits to customers:

1. Flexible repayment periods
2. No security is required
3. Each amount is granted is based on the individuals needs and what they can realistically afford
4. All products are priced and structured as governed by the National Credit Act
5. The approval process is quick
6. The payouts are immediate

Real People also offer merchant finance to vendors that allows them an effortless means of providing credit to their customers. They provide their vendors with outstanding service as they will look after the following processes for you in order to streamline your business:

1. Providing application forms to credit vetting
2. Credit scoring
3. Providing immediate funding to you directly

This type of loan allows the following benefits to merchant customers:

• Funds paid directly to merchant upon approval
• Clients receive goods upon approval
• Two-hour approval process for applications submitted
• Single page application submitted via e-mail or fax
• NO risk to you – all vetting and approval completed by our team of credit specialists
• NO account management – we do it all for you
• Collection of arrears are under taken by Real People
• Reports are tailor-made to provide you with information, helping you keep track of your credit sales
• ORCA (Online Retail Credit Application) is our latest innovation and ensures fast, efficient processing and approval of all applications online.

To top all of the above off, Real People also offer cellular products to their customers through the leading cellular network providers of Cell C, MTN, and Vodacom. You may be wondering why you should not just get a contract from one of the service providers directly. Well if you can and you meet their requirements then you can, but should you not qualify for cellular contracts from one of the service providers, then Real People will get one for you. The type of package on offer from Real People is a Top up package which provides you with the benefits of a contract, but with the freedom to top up your airtime if needs be.

If you have a family and are looking to secure their future should anything happen to you, then Real People have a five in one assurance plan for you. This five in one plan will provide you family with the following in the advent of your death:

• R10 000 Funeral Cover
• R20 000 Transport Cover: funeral cover for a death related to a motor accident
• R5 000 Catering Benefit
• Up to R1500 (R500 per month for 3 months) Family Support Benefit
• Up to R7 500 (R2500 per month for 3 months) Unemployment Cover

Finance with Real People Loans is an original post from: Loan Solutions

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1. Motor and household insurance

Edgars offer their financial services customers the chance to cover all of the contents of their households as well as their vehicles. Their policy is underwritten by Hollard Insurance who are one of the leading motor and household insurance providers in the country. What is great about this service is that you can tailor your policy to suit your needs.

2. Cellular phone insurance

Unfortunately all of us have had to experience either our cellphones being stolen or breaking unexpectedly. If you however have obtained cellular phone insurance from Edgars, you will be able to replace your phone with the same model or something of similar value. All of this can be done for as little as R36 per month. The cost does however increase depending on the value of the phone but at most, you will be paying R75 a month to ensure that you will be covered should anything happen to your communication lifeline.

3. Family Provider plan

This plan allows your family to receive pay-outs from Edgars should you pass away. Your family members will receive a pay-out every month for a year after your death to ensure that they can obtain the daily essentials to keep them going. There are three options for you to choose from ranging from pay-outs between R500 and R1500 per month for a monthly premium between R16.50 and R31.00. This will provide you with peace of mind knowing that after you pass your family will be covered.

4. Personal accident plan

Should you or any member of your family become permanently disabled due to an accident of any kind, Edgars has developed a plan that will help keep you and your family going through the tough times. For just R22.00 a month you will receive cover should you have an accident or die. In the event that you die, Edgars will pay up to R150,000.00. The second option available under this plan is for cover for you, your partner and up to five children under the age of 21 years. Should you have children under the age of 25 who are unmarried and full time students, then they will also be covered by this plan for only R27.00.

5. Life cover

Edgars Life cover is life insurance and very, very affordable. You can get life cover of up to R2million in the event of your death. In addition to paying out should you for any reason pass away, this plan will also cover you against the following amongst other things:

• Serious illness
• Functional disability
• Occupational disability

6. Smart insurance

This will cover you against any damaged caused to your car. For just R39.00 a month, you will receive up to R2000.00 cover per incident. Although this may not seem like a lot, this in conjunction with your vehicle cover should account for most of the damaged caused which means that you will end up paying less than you would should you go through another financial service provider.

7. Commuter insurance

In South Africa, a the large majority of the population uses public transport and as taxis and buses are not always the safest vehicles on earth, you can ride them in confidence knowing that should they be in an accident, you will be covered. In the event of your death or permanent disability as a result of a public transport accident, you will receive up to R30000.00 pay-out.

Along with the above, Edgars financial services additionally offer the following plans/cover:

• Appliance maintenance plan
• Motor Xtender plan
• Legal plan
• Dental accident insurance plan
• Home Fix
• Funeral plans such as Family funeral plans, personal funeral plans, and a parent funeral plan
• Account protection plan
• And many more

For all of the information that you require for these plans, why not visit www.edgars.co.za and not only will you be able to see what is on offer, but you will be able to apply online too.

Edgars Financial Services is an original post from: Loan Solutions

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Your credit report contains information that has been gathered by the bureaus on an ongoing basis from many sources that you have applied to for credit or services. Your credit report is a record of your past and current credit obligations and shows your credit behaviour and payment conduct with your account holders and service providers

It is therefore imperative that you know your financial history as you may want to apply for credit on something like a car or a home loan, only to find out that you have been blacklisted and have no idea why or by whom. So now that I have gotten your attention, here are some easy steps for you to obtain your credit report.

1. Annual credit report

Every year, South African’s are entitled to one free credit report due to the National Credit Act that was passed. It is therefore imperative that annually you keep up to date with your credit history and this can be done by contacting one of the two credit bureaus being those of Experian and Trans Union ITC. This really is a simple process as you can either call them or even apply on line for your free annual credit report.

1. Emergency credit report

Emergency credit reports can be obtained, even if you have received your annual free credit report. There are a number of companies that charge a small fee to obtain this report for you. This is extremely helpful in cases where you have applied for credit only to find out that you have been blacklisted and have no idea why or when. Some of the companies that provide this service include:

• Trans Union ITC
• Lucid Living
• Experian

All of these companies charge fees ranging from R30 to R300 depending on what products you wish to purchase from them. For merely a credit report, this will be the least expensive out of the lot. However not many people when they receive their credit reports actually understand what it means. This is why the other services and products are offered by these companies in order to help you fully comprehend the report that you have been given, monitor your credit history for you, and notify you should anything change.

For those of you who cannot afford all of those services but still want to understand you credit history report then here is a brief explanation of what each section in the report means:

Section A: Your personal address and employment information

This is pretty self explanatory, however you may be wondering how they have this information. This information is compiled as a result of all of the applications that you have made for credit.

Section B: Your credit summary

A credit summary is the summary of the content of your credit report. This will therefore list any judgement, enforcement actions, sequestrations, and rehabilitation.  This therefore will be able to supply you with an overview of your credit rating over the last 24 months and this is what banks, stores, and other organisations that run credit checks will see when they run a credit check on you.

Section C: Your account history/payment profile

This section includes a summary of all of the accounts that you have open including all the relevant information regarding when you opened the accounts, the outstanding balance, the agreement that was signed when opening the accounts, etc.

What is worrying in South Africa is that so many people are unaware of their credit history and it is imperative to know where you stand as your credit history is the determining factor when you are requesting that a lender grant you credit. If they have a better understanding of your financial background then you know that you have a problem so get your hands on your free credit history report annually and your record to see if you are blacklisted.

Check Credit Records to see if you are Blacklisted is an original post from: Loan Solutions

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Although getting a loan from the bank is generally considered the safer option as banks are governed by credit laws, should you be denied, there are other avenues open to you. There is no need for you to keep purchasing things on your credit card and get yourself further and further in to debt when you can investigate the following options available to you.

Debt consolidation loans:

Instead of paying the minimum amount on your credit card and other debts every month whilst increasing the overall debt amount every month, why not consider applying for a debt consolidation loan. This type of loan will help you get back on your feet and you can take out this kind of loan in two ways. Firstly you can extend you bond in order to cover the outstanding debt. This is preferential as you are more likely to have a reduced interest rate than you would if you were to take a personal loan.  If you take out an extension on your bond, you will receive some of the following benefits to consolidating your short term debt such as improved cash flow, reduced interest rates, reduced monthly instalments, and as this all falls under one account, your debt management may become much easier to manage.

Secondly, a personal loan can be taken to cover your debt amounts. You may think that that higher interest rate is not worth it, but in the long haul it may improve your overall credit rating and therefore will be more beneficial in the long run. There are a number of organisations that you can apply for these loans from should you not be able to receive a loan from the bank and some of them can even be found online.

Microlenders:

Should you not wish to consolidate you debt and you are still looking for loans for people with low credit scores you can visit a microlender.

Microlenders are organisations that take people’s money as an investment and then loan that money out to some else in order for the lendee to make money off of the interest that the lender has to pay. This is a great system especially in a country like South Africa where not everyone can afford to invest great amounts in stock trading and property development. Microlenders therefore facilitate the loans between individuals and ensure that each party benefit from the loan.  These microlenders usually offer loans from as little as a few hundred rand to many thousands of rands, depending on what is required and how many individuals they have that have invested in their organisation.  What is even best about these organisations is that they do not charge exorbitant interest rates. Do not get me wrong, they generally are more than what the bank will offer but they are a lot less that the interest rates offered by loan sharks with no ethics.

The best thing about both of these options is that you can build up your credit history again so that in future, you can take a secured loan from the bank. Personally I would recommend taking out a debt consolidation loan on your bond if you can as you can manage your debt from one place effectively at a low interest rate. However should you not own property then you should definitely consider a personal loan or contacting a microlender to help you with your immediate needs.

Loans for People with Low Credit Scores is an original post from: Loan Solutions

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What is more is that this organisation does not discriminate against you based on your credit history but say that they rather look at your future potential.

For those of you who are looking for a loan, SA Multi Loan’s website is the best place for you to go. At www.saml.co.za not only can you take a look at what they have to offer, but you can use their calculator to determine how much your terms, your repayments and fees.

In addition to this, you can use their budget test to see how much you qualify for. The best thing about their website is that they have streamlined their business in such a way that you can apply for a loan online. This means that it really has become so simple to get the finance that you need.

Need finance for a new car, motorcycle or to pay for that well deserved holiday you’ve been talking about? Not sure how much to borrow or what the repayment plan may look like? Use the online “Affodability Calculator” to work out how much you qualify to borrow according to your salary, monthly expenses etc.

For those of you who do not wish to apply online for a loan but would rather consult with a qualified advisor, then you can visit one of the companies branches based around the country in cities such as Johannesburg, Cape Town, George, Bloemfontein, and Pietersberg.

This company believes on providing loans to those who need them, no matter what a persons credit history may reflect. This is a fantastic way for those of you who are looking to build up your credit history again but have been unable to get credit because of a bad credit history. For loans up to R 20 000 why not contact SA Multi Loans.

SA Multi Loans is an original post from: Loan Solutions

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