Irresponsible spending

Irresponsible vs. responsible spending; the root of poverty in the western world. While it can be argued that poor african skeletons probably don’t spend their money irresponsibly, because they don’t have any, irresponsible spending habits and carelesness are often at the cause of poverty in the western world.homelessguy

Poverty, is of course, subjective, but with all the talk about raising the minimum wage, it almost doesn’t matter. In fact, there have been studies that have proven that poverty is subjective, people feel poor when they’re poor relative to others in the community… If you throw an american guy witha net worth of $500 to the democratic republic of Congo, he will still be seen as a rich guy- and chances are, that he’ll feel that way too.

Similarily, there have also been studies that have tried to prove that poverty is a state of mind – and we’re inclined to agree, at least to a point. Of course there are situations where this doesn’t apply, but typically, ambitious people won’t remain poor for all of their lives if they’ve been lucky enough to be born in the first world.

But what are some ways to gain that extra $50 a month that you can save and later invest in something that may get you out of poverty? Here are some tips to reduce irresponsible spending;

Ways to save money

Let’s start with an obvious one;

Stop Gambling, Playing at casinos, Playing the lottery and hoping

Poor people often fantasize about winning the lottery or winning big at the casino – this won’t happen, and even if it will, you’ll probably screw it up anyways, at least if you’re in the wrong mindset. People don’t even realize how much money they’re wasting by playing the lottery weekly. Casino gambling is not the answer either, the odds are stacked against you, otherwise there wouldn’t be any of them around anyways. Why would you make your situation worse?

Start thinking long term

Try to start living 2 months at a time, instead of paycheck to paycheck and go from there.

Stop urinating so much 

That way you’ll save on toilet paper and water

Stop spending money on stupid things

You don’t need a status symbol, it won’t help you get a girlfriend, they see right through that. Unsless she’s from the Philippines, in which case your western appearance will be enough by itself.

Read books

Did you know that poverty reduces brainpower? And all the stress and sleeplessnes makes you dumber? One way to combat this is to start reading books and eating properly. You’ll learn more about this if you read books.

Ethics and loans

What is right and what is wrong? That question has been debated millions of times over millions of years. (Okay, not millions, but probably ever since humans could talk). The loan industry is one of the most debated industries in many countries, because it’s entirely based on people in need. Of course, there’s a difference between a traditional payday loan to get to the next paychek alive, and a mortgage loan, because you just need those extra 200 squaremetres, but it’s still the same deal in principle – the loan company is profiting from people in need – which is easily exploitable.

Of course, there’s another side to it too – the person taking the loan can always just refuse to pay the loan back. It’s easier said than done, but especially with smaller loans, it happens often, where the person just loses his credit score. With big loans, people often pay at least some of it back, and the loan is usually backed by somebody in these kind of cases, but the recent 2008 crisis showed us that big loans can be left unpaid just as easily with much more damage too.

Are “bad credit” loans real? Can they be trusted?

When a person loses his credit score, it makes absolutely no sense for a loan-company to grant a loan for him without it being backed up by another person with good credit. Now why is that you still see plenty off these kind of offers, where “bad credit loans” are advertised? The answer is simple – those are ruthless scams, they’re only after the application fees or some other scam. But is that completely wrong? At first, yes, is sounds like it, but let’s put it into perspective. For most people who have lost their credit, it’s because they’ve simply screwed over other companies by not paying their bills on time/at all. One could argue that it’s simply “bad karma” in action. That, though, is very debatable. (source: lån)

But the truth is, there are people in this world that truly do not care wheter something is ethically right or wrong, all they care about is profit. This is why it’s essential to check websites like http://mikävippi.fi before applying for a loan of any kind – because no matter how trustworthy a company seems, it may still be a scam, or as a lesser evil, a completely overpriced loan.

So, be safe and read reviews after applying!

Payday loans in Finland and Scandinavia

Payday loans have become a worldwide phenomenom, and this article will cover a little about payday loans in the Nordic countries. For those who are unfamiliar, the Nordic countries include Finland, Sweden, Norway and Denmark.

 

Payday Loans in Finland

Payday loans are really popular in Finland, and according to google’s approximate statistics, the term “payday loan” is searched over 70 000 in Google.fi – in one month. That is a lot, considering the population of Finland (about 5 million). Compare that to Sweden (28 000/month with more population, it seems like a really big amount. Source: this website.

There’s no definite answer as to why these fast cash loans are so popular in Finland especially, but what we do know is that the communism-influenced socialists don’t like it. In fact, just recently a new bill passed, and payday loans in Finland will become history. The reasoning behind the bill was that fast cash loans were creating too much poverty – so they thought they should be all outlawed. Well, not exactly, the bill was cleverly disguised to only “limit” the terms and interest rates of these loans, but in reality it was designed to completely kill them off, because the bill effectively makes loaning extremely unprofitable, no company could make profit even with ridicilous volumes. There is no way around this.

From the day the bill becomes a law, there will be no small loans in Finland, which will be absurd. The smallest loan you will be able to get will be 2000€ (approx. 2500 USD). Let’s see how much poverty that will create, shall we.

Typical socialism. But what about Sweden and the other Nordic countries?

 

Qucik cash loans in Scandinavia

In the other Nordic countries, payday loans remain useful to both the loaner and the one taking the loan. While some restrictions obviously apply, no other country has gone to the degree of Finland. There are numerous reasonably priced loans available in Norway, Sweden and Denmark (as there were in Finland too), and the payday loan industry is great there, with no change in sight.

Altough Finland’s stand on payday loans is worrying, there will likely be no changes before these other countries can see the effects of Finland new law. Our bet? There will be no changes in poverty, because people will always find a way to be stupid – bigger loans will be much more available to younger people, but will become more costly. People will also just buy stuff the would take loans to buy with 12-month plans instead. And lastly, there will probably be an influx of scam-payday loan companies based in other countries, that never give out a loan, but simply take money from the application.

If there’s need for small amount of money, people will find a way to around the law. Either that or they will probably die. So let’s see what happens (and enjoy our free market here in America). We will keep you posted on the issue.

Things to know before applying for a loan

The most important thing to know before applying for a loan is to know your credit score. If you have a good credit score, you’ll be eligible for cheaper loans, and you may even be able to get an unsecured loan. To check your credit score, check this link.

More things you should know before applying for a loan

Now that you know your credit score, we can look at some important things.

There are several things that should be taken into consideration before applying for a loan. Keep in mind that if the loan is not paid, it can lead to greater financial difficulties, and it is therefore important that you define all of your needs carefully before you go to the bank to ask for money.

There are unsecured loans, as well as the so-called safe, secured loans. Banks need guarantees and collateral that you are able to repay the loan when it comes to security on loans (or collateralised loans). To ensure the ability to pay their own fortune, such as the house, car, boat, or share certificates. It does not mean that you will have to dispose of these loans, but also, they have secured the ability to pay, if necessary, you can change money if you do not otherwise be able to pay back the loan.

Not Secure while the loan is most often used in situations where there is not the property of, or wish to provide additional security against loans to financial institutions. In this case, you need only have a good credit rating to get a loan against it. These two models to choose from for you to choose the appropriate option. You need to assess your financial situation, your and see which one fits it better at the moment.

MFIs have a few different requirements that the borrower must meet prior to obtaining the loan. Banks and conventional financial institutions require some background information on the applicant for the loan, but there is a network of lenders that have less stringent requirements. These lenders offer quick loans to those who need it, and they do not check the credit history or credit rating. But if you need larger amounts of money, it is better to go to the bank and the usual need to make sure that meets all the necessary conditions.
Identifying needs and assessment of income, it is important to know so you can determine how much you can pay back the loan every month. You can ask the banks to the different loan options that fit your situation at the moment. Pay back the loan on time and according to plan to give you a good payment history and that the bank can grant more money to spend later.