Welcome to the Loan Information Site
Welcome to our low income loan information site.
We can help your find out the information that you are looking for regarding financial matters. We provide links to governmental and financial organisations that will be able to provide further information and advice.
We have information on all kinds of loans, including:
- Bad Credit Loans
- Unemployed Loans
- Centrelink Loans
- Emergency Loans
- New migrants loans
- 457 Loans
- Pensioner Loans
- Single Parent Loans
It’s not always easy to get a cash loan or payday loan when you don’t have the biggest income or the most secure job. Maybe we can help you find a cash loan in Sydney, Melbourne, Brisbane, Perth or any Australian Location.
Budgeting begins with honesty
A person being honest about his or her current financial position seems like such an easy concept but it is by far the biggest hurdle to smart money management. How will a person ever take control of his or her financial future, and emotional wellbeing, without understanding exactly where they are starting from? The problem stems from a society at large that would prefer to live beyond its means and has built media, education, and corporate cultures to support the “spend” mentality. To get real and get honest with budgeting, a person must begin with two simple documents, a spending tracker and a statement of net worth. From those two forms of accounting, all budgeting can be built.
Spending money is the no-brainer, but tracking that spending is an activity most people would rather ignore. When preparing a spending tracker, or cash flow statement, the following sources of information are helpful:
• Bank statement(s)
• ATM receipts/cash on hand
• Check register(s)
• Credit card bills
• Online merchant (Paypal, Dwolla etc.) account transactions
• Pay stubs and/or business income
A spending tracker is as simple as its name. Begin with two columns on a piece of paper or spreadsheet, one for cash deposits (salary, rental income, pensions, etc.) and enter all of your monthly transactions in the appropriate column. One point to remember is if you pay certain bills every six months or annually, such as car insurance, make sure to divide those totals into a monthly amount and add them to your spending tracker. Add both columns up and then subtract cash inflows from cash outflows. If the resulting amount is negative, you are spending more money monthly than you are earning.
Many times households struggle with the idea of being “cash poor” where assets are positive but illiquid, or unable to be turned into cash quickly and easily. A common example of this is home equity. A family’s home is a large asset but one that has no liquid cash value. In order to access the home equity, without incurring debt, the home would have to be sold on the real estate market.
A statement of net worth measures the value of assets. To keep things simple, assets are items other people are willing to pay you for. Examples of common assets would be real estate, vehicle(s), jewellery, antiques, and collectibles. The key to this idea is what other people would pay to own your assets. It is important for the sake of budgeting that no asset is overvalued, this is an exercise in honesty. Grandma’s antique violin may be valuable to you, but to the open market it could be worthless.
To create a statement of net worth, create two more columns and subtract the values items you own that other people would pay you for (assets) with the amount of money you owe to companies or other people (liabilities). Common liabilities include credit card debt, mortgage(s), and auto loans. After subtracting the value of assets from the total amount of liabilities you will be left with a positive or negative amount. If the amount is negative, you have a negative net worth.
Households should be highly concerned if they are operating at a negative cash flow and have a negative net worth, seek help immediately. The opposite is true for households that operate at a positive cash flow with assets exceeding liabilities for a positive net worth. Every household’s goal should be a positive monthly cash flow, positive asset net worth, and adequate emergency fund, but it is far easier said than done which is why resources, highlighted within this site, have been created to assist with financial goal achievement.