Free Money Loan
Still we see web sites and people online telling you that you can get a free money loan if you just sign up here and sign up there you may be eligible for a free money loan. The truth is these are very hard to come by if not impossible. Lenders need to make money too and either they charge a fee or they charge you interest, but very seldom do they offer free money loans.
Especially now that we are in the middle of a deep recession you are not likely to be seeing any free money soon. I am talking about a government grant of some sort or a zero interest rate personal or business loan. There may be some loans that are sponsored by the government to help get the economy going again, however they are usually very difficult to qualify for now that they have tightened up the banking system and the lending system.
Even more so now that we have seen the Wall Street fat cats screwing the United States taxpayers by taking billions and billions of dollars in bonuses with our taxpayer money. They make money every time there is a stock trade or a share offering. In fact they make millions on commissions this way alone. Because of this I would not suggest spending a lot of time on the Internet looking for any kind of free loan. It just will not happen.
As a matter of fact if you have bad credit, you are not likely to be approved for a conventional loan. The only way to get a nonconventional loan when you have bad credit is to use a paycheck lender or cash advance company. And you do not want to do this and unless you are really desperate. They tend to charge a lot in terms of fees and high interest rates. If you fail to meet a payment, these types of loans really get expensive.
I have seen many web sites talking about federal money grants and free no interest grants online. These kinds of grants will loosen up as time goes by but I don’t think you’ll be seeing any of these kinds of loans in the very near future (like about two years time).
So I hate to be such a bummer but I don’t want anybody to be wasting their time. If you are having trouble with your debts I suggest considering a debt consolidation loan or a debt settlement negotiation. Consumers will generally have much more success with these types of loans and get out of their debt situations faster as well with a lower interest rate loan compared to credit card rates etc.
Is it really true? You’ve probably received the emails. The lead headline tells you that the Federal government is giving away millions of government grants and that you qualify. The ads usually go on to say that you can finance your business, remodel your house or pay off bills. All you have to do is contact the company and they will check to see if you qualify.
The old saying still stands does it not? There is no such thing as a free lunch in this world and there will not be any free money coming your way either. You are better off to find some way where you can earn more money and stop spending the amount of money you have been spending on a monthly basis.
How Can I Balance My Budget and Not Look for Free Money Loans?
The government is the only entity that can print money when they go into debt. The rest of us have to either make more money or cut back on our expenses to balance our budgets. There is no free money for us. We cannot borrow it sometimes even and if we do, we just have to pay it back, otherwise our credit really gets bad and then no one will lend any money to us.
Start by adding up your total income for the month. This should be the amount that you can count on every month. If you work over time or receive bonuses, count this as an extra to help you in an emergency, but do not count it as part of your regular income. Next add up all of your expenses. Everything should be included, food, clothing, shelter costs, utilities, auto expenses, debt payments etc. Whatever you spend money on should be included in your expense list.
If your expenses are more than your total income, then it is really time to take stock of where you are spending money and consider if there is anything that can be reduced. Anything that could be considered discretionary should be cut back or eliminated. Work at getting your expenses down to a number below that of your total income. Once you have arrived at this budget, you must stick with it or your debt will just get larger. Focus on repaying your debt as quickly as possible. You have already included the monthly payments on your debt in your budget. Use your overtime or bonuses to pay the debt down even faster. Once you have eliminated the debt, that monthly payment will be available to focus on other debt or on some purchases you may have delayed .
One final note, include in your budget an amount that you can set aside for emergencies. They will always happen, we just do not know when or how much the emergency will cost. All of this may be difficult for awhile, but once you get rid of your debt, your financial situation will be much better.
I know that this post may not be very popular for people who were tried to find some kind of financing for free but this is the hard cold truth and Financing USA we are trying to clean up our act and make sure our writers speak candidly. Have a great day!