Monthly Archives: August 2011

Quick Payday Loans

What is a Quick Payday Loan?

Quick payday loans let in need borrowers have access to fast cash, in exchange for paying a high to very high interest rate. Most all of the time, the borrower has to be employed and provide proof in the form of a stub from a paycheck or a bank statement showing regular payment transfers from an employer. The lender will provide a small cash loan, to be repaid from the borrower’s next paycheck. This makes the typical term of the loan one or two weeks. On an annualized basis the interest rate (APR) can run over 100% and more. In extreme cases the APR can be over 500%.

Why are Payday Loans So Popular?

Payday loans are popular with certain parts of society. They provide people in immediate need of funds with no other means of getting cash an answer. They are also popular because people do not consider the real interest rate they are being charged, but only the rate for the one or two weeks. Some lenders do not require any more information than a current pay stub as proof of employment, making these loans easily accessible. No credit check needed. Funds can be instantly transferred into a bank account. In retail outlets for payday loans the borrower can leave with cash.

Who is the Target Market?

Payday loans are targeted towards low income people with no other means of raising cash quickly. Because of this ? and the high interest rates, they draw criticism from consumer organizations. Some entities have called the institutions which offer payday loans “predatory lenders.”

Pluses and Minuses of Payday Loans

The big attraction of payday loans are that they are easy to get if you are currently employed, and the cash is usually available immediately. They involve a minimum of paperwork and no credit check.

The negatives of payday loans are the interest rates charged, and the potential for late fees and other penalties to accumulate rapidly. People in such dire need as to take a payday loan in the first place tend to over estimate their ability to repay the loan on time. Interest and penalties/late fees can easily grow to more than the initial loan amount if payments are not made as agreed.

Should I Take a Payday Loan?

Payday loans should be taken only after examining all the alternative ways of raising short term cash. These might include selling something you own, borrowing from friends or relatives, putting off paying other bills temporarily and the like.

What You Need to Know About the Chinese Stock Market Before Investing

China is now the second largest economy in the world and rising rapidly with a star. Predictions are that it will be the world’s biggest economy within 10 – 20 years, surpassing even the United States. How can you benefit from this amazing growth?

Invest in China

Good advice, perhaps, but not as simple as it sounds.

There are many differences, when compared to the major American and European stock markets, that you need understand if you want to participate in China’s record setting economic expansion.

Chinese Stock Exchanges

The two largest Chinese stock exchanges are the Shanghai Stock Exchange and the Hong Kong Stock Exchange. Most large public Chinese companies are represented on one of these exchanges. In each case, the financial regulations require two classes of stock shares; Class A and Class B. Class A shares are priced in the local currency – the Renminbi and can only be purchased by Chinese nationals. Class B shares are designed for purchase by foreigners and are priced in US dollars.

China is not only a different country, it is a different culture. With different financial regulations and a private sector that until recently was all government owned. This impacts the way financial information is reported, the way loans are made, and the way deals among companies are done.

All of these factors in turn influence the stock price. Financial disclosure rules are not as strict as those investors have become accustomed to in more established stock markets.

It is always a good idea to have professional guidance with your investments, and even more important when investing in emerging markets like China. The best advice will likely come from an organization that has investment savvy and is familiar with the nuances of the Chinese stock market. This is an area where it pays to do your homework.

One thing to keep in mind is that while the economy of China has grown incredibly fast in the last decade, averaging 10% per year by some estimates, the Chinese stock market – like all stock markets – still goes up and down. It is very possible for the Chinese stocks you pick to go down considerably while the Chinese economy roars ahead. Another reason for professional guidance.

China is an export based economy. Its growth depends upon selling its manufactured goods to the rest of the world – mostly Europe and the United States. Last year, the European Union was China’s biggest trading partner, with the United states right behind. China has grown so rapidly by taking market share away from many other manufacturers in other countries. However, for its continued growth, it is very dependent on the state of the economies in its two largest customers. Chinese consumer demand, while growing rapidly, cannot support all of China’s growth, at least, not yet. With its rapid growth, China also faces the prospect of inflation, which will require the Chinese banks to increase interest rates on loans and can act to slow growth.

Taking into account all of the above factors, the Chinese stock market can still be an excellent investment.

How to Get Low Cost Auto Insurance

For most drivers, getting the cheapest auto insurance is important since some policies come at really steep prices. There are plenty of low-income drivers who do not have the financial stability to get the insurance coverage policy that they need. Getting the best policy for you and your car may not be as hard as you think. There are several ways on how you can get hold of insurance quotes. Getting multiple quotes will allow you to choose the best insurance coverage for your car. You will also be making sure that the costs do not exceed the amount you are willing to spend for your car insurance.

If you do some research and check online, you will find there are plenty of websites that allow you to get car insurance quotes in a specific area. These services are easy to use. Just provide your zip code and type in some important information regarding your vehicle. To complete the process, submit the car insurance application form and then you will be getting the results in a few minutes. With this type of service, you can compare the insurance coverage policies from various insurance companies in your area. This will help you make a smart decision when getting low cost auto insurance. Using the internet to search saves you a lot of time and effort.

Another option that you have when searching for low cost car insurance is to set a meeting with insurance agents who specialize in auto insurance. There may be several agents in your area who you can easily contact. When meeting with an insurance agent, be sure to specify what type of auto insurance you want and also discuss the coverage that you need. With this information, the car insurance agent will be able to give you multiple options on the type of auto insurance available that best suits your needs. Do not hesitate to ask some questions regarding the coverage so that everything is clear to you before you make the decision on which policy to get.

Searching for the best insurance policy that has a low cost will allow you to save money. It is important to take your time in making the decision so that you can compare the offers from several companies and see the best one that is suited to your needs. Aside from saving money, you will also have the protection that you need in the event that you get into a road accident.