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Who Needs Financial Advice?

Who needs financial advice? Well, this is a real question that has been asked many times. Many events may determine whether you need a financial advisor or not. For instance, if you are preparing to get married soon, have kids, purchase a house or make many other prudent investments, it’s a grand idea to get a financial advisor. During these moments, you need sound financial guidance because you will have to dig deeper into your pockets.

Moreover, a financial advisor can help you solve many other issues that include how much you can part with for significant purchases, if your spouse should stop working, how to plan to send your kids to better schools, what you can afford just to mention a few.

You don’tfinancial graph have to be a millionaire or a billionaire to start looking for an expert financial advisor. In fact, the advice that you will get is more valuable at a stage when you have fewer savings. However, it has to be something decent so that a financial advisor can create a healthy plan for you. As an individual, it’s also vital to figure out if you can afford a financial consultant or you can manage your savings intelligently without the help of a financial expert until when you can afford to pay a good advisor. Below are some of the people who need the help of a professional financial advisor.

New employees

Most forward thinking new employees seek for financial advisors to help them get the most out of their finances. In case you land a new job with a higher salary and the chances of your expenses increasing are low soon, then it’s the right time to seek the services of a reliable financial advisor. It is the only way to make quick progress when growing your savings. In fact, some companies now have financial advice in their list of employee benefits to ensure that they get the most out of their finances.

Couples planning to get married

Do you plan to get married soon? If so, are you also planning to invest with your partner? Well, a financial advisor is a suitable person to guide you through the whole process. Most couples argue of end up getting divorced shortly after getting married because of money. A sound financial advisor will help you and your better half merge finances, deal with debt, keep spending in check, invest wisely, plan for emergencies just to mention a few.

Those unsure of retirement

Are you apsave moneyproaching retirement age? It’s an excellent idea to ensure that you manage your finances properly once you retire. Having an advisor is a smart move that you should consider. A financial advisor will assist you to set realistic goals and a plan of retirement that is precisely tailored to meet your requirements. Besides, an advisor will boost your confidence when working on your retirement saving scheme. Simply put, an advisor will help you get valuable information that will assist you if you are among those that underestimate what they will require for retirement.

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Car Finance Options

Owning a car is not a simple thing. It actually comes in second as the most expensive form of ownership after a house. This is because you will incur other costs apart from buying, ranging from insurance to maintenance. It, therefore, requires that you prepare adequately since it will require finances and calculations for you to own one. For you to have a car under your name, you have to consider your financial capabilities. Research on all the available sources of funds that can help you to get money to facilitate car payments.

Top options for car finance


Keeping your money in banks, especially when interest rates are low will not gain you much. Take the money you have already saved and use it to pay for the car. Avoid saving and borrowing, to prevent small charges like paying for interests later. If you do not have enough cash or savings on you, use the available you have to pay the bigger portion of the deposit.



The dealership will not give you car loan directly, but through them, you can secure money to buy a car. This is made possible, from the good relationship dealers have with financial institutions such as the banks, credit unions, and other financial independent companies. You can also check with different car dealers, to ascertain the amount of interest you will pay in the end. Settle for the best deal, and cut off dealers that hike interest rates to make a killing off you.

Personal loan

personal loanYou can take a personal loan from banks, building societies or other financial institutions to buy a car. Ensure you have good credit ratings to able to qualify for a loan. Banks have different interest rates, take your time to research and choose one that you are flexible with. Do not place your other properties such as a house to be used as collateral. In the case of a failure to service the loan, you may lose your house.

Family and friends

A lot of people find it hard getting funds from banks or other independent financial institutions. This could be as a result of poor credit ratings, or not enough credit history to qualify them for these loans. However family and friends can come to your aid by lending you partly or wholly the amount needed. Requesting a friend or family member to take a loan on your behalf can also work for you.


Key Factors To Be Considered Before Applying For A Loan

Loans can be a very beneficial financial option that can help in a lot of ways such as assisting you to get that house or car you need or starting that business you have been planning for. That said, taking out a loan is not a simple task or a decision that is made lightly. There are many things to consider, and failure to look at them could land you in major financial trouble. Therefore, it is important to check a few factors beforehand.

Main factors to consider

Loan typeloan

Loans are designed to meet various needs and target different niches. This means that a homeowners loan will not be the same as a car loan or business loan. Knowing your exact needs is the first step to narrowing down your choices. Next, doing a thorough research will aid you in knowing what is available in the market and what is expected of you. This will make the process easier for you. Also important to consider is whether the loan is secured or unsecured as each of this will have its set of implications.

Interest rates

Checking the interest rates of a loan is highly important. This is the primary determinant of how much you will pay back. High interest rates translate to a higher total amount and vice versa. Checking the market rates will help you know what to expect, so you are not side blinded at the bank. As the financial industry is highly competitive, it might serve you well if you were to shop around for a bank with lower rates although the difference should not be too large.


timeThe loan duration or term is another factor that will determine the outcome when it comes to the amount to pay back. Longer times might translate to smaller monthly installments but will eventually lead to a larger total amount at the end of the period. Shorter loan term, on the other hand, means that your monthly payments may be on the higher side but you will be done paying off the loan faster and end up paying less.

Extra charges

Be wary of hidden charges that might come with your loan. Some loans offer low interest rates only to be chock full of other charges such as underwriting costs, credit report fees, administrative cost, processing fees among many others. While it might seem like a good deal to get a loan with low rates these charges end up raising the total amount.