Can You Afford Your Lifestyle?

Our spending habits mirror our lifestyle, or at least the choices that lead us to our vision of what is ideal. Say you earned an extra $1,000 every month. What would you do with it? Do you put it toward your dream penthouse apartment? Do you spend a few days in the Bahamas? Do you splurge on a high-end handbag? Do you save it for the uncertain moment in the future you might want to go back to school? That’s four different lifestyles put into focus by a single question. Each answer to the question is a glimpse into how someone would want to live their life. The bigger question everybody seems to put off answering is: can you afford your lifestyle? What Reality Looks Like Let us be realistic here for a moment and look at things without rose-tinted glasses. Many twenty-somethings today are under the haze of idealism, thinking it will only take a few years before they purchase their dream studio or go on that backpacking trip across Eastern Europe. It might not be too far for the privileged few, but these dreams translate into decades of hard work for most of the working population. Committing to a traveler or fashion-forward lifestyle entails expensive choices. While you may think it is the days ahead that weigh more, it is more important to think how you plan to tie all loose ends after an expensive trip or how you will keep up with your expensive home the next months. How You Can Figure It Out It is too easy to turn a blind eye to traps and practices if it can get you your dream shoes or tuition to your dream graduate school. Overspending can be detrimental to your money management efforts. Before you know it, you are waist-deep in debt and you are five months late in your monthly rent. The key here is drawing a long-term financial plan that allows you to buy small things of joy without draining your savings. Secure an emergency fund to allow you breathing space while you commit to your lifestyle choices. Utah Money Center can lend you a hand to start-up your fund or even when you’re badly strapped for cash. Get in touch with us and we will help you through your lows.

Loan Myths Debunked

Consider getting a loan? On your quest to know more about these loans, you might have heard a thing or two about them. There is also a tendency for the facts to be mixed with the lies. Dispel the myths by learning more about credits and car loans. Education is key in protecting yourself against the misinformation. If you’re not careful, you might end up with a botched loan and out of thousands of dollars. Here are 3 loan myths you should know: Myth 1 – Receiving Bad Credit Lessens Your Chance for an Auto Loan While having a good credit helps, people with bad or no credit at all still have the chance to apply for loans. Those unable to receive loans from traditional sources such as banks, car dealers or credit unions can apply through specialized lenders that allow applications with bad credit. Unlike traditional loans, more qualifications such as proof of ability to purchase insurances or minimum monthly incomes. Borrowers with bad or no credit will also have less flexibility when it comes to loan terms. Here at Utah Money Center, bad credit will not be a problem. Getting a vehicle title loan is easy, as we have even streamlined the process. Myth 2 – Bankruptcy Hinders Your Chance of a Loan If you previously declared bankruptcy, this doesn’t stop you from applying for loans. Getting a car loan, for instance, is actually a good way to re-establish credit reputation. By regularly paying off your dues, you build a positive credit report. Myth 3 – One Loan Allowed at a Time Most lenders allow multiple loans at a singular paying period. If you feel two loans will be better, feel free to apply for another one. Lenders usually check if you have a good credit score before approving multiple loans, but there are a number that do not. Applying for multiple loans demands responsibility, especially with payments. Missing a due date can hurt your credit score if you’re not careful. If you’re interested in applying for a loan, be sure to research first. Don’t be persuaded by false stories about auto loans. Protect yourself by learning more. Here at the Utah Money Center, we offer quality loans you can trust. If you’re looking around for the best loans, give us a call. Our products are affordable with flexible payment terms. Apply now and get the loan that fits your needs!