Category Archives: Loans

Advice For Educators’ Finances

Everyone wants a good standard of living. For that each of us have to be responsible adults and take care of our family and ourselves. With the economic climate changing we need to realize the value of money and try to save for a rainy day. We need to understand that a credit card is commodity that needs to be used only in emergencies. A bad credit score can change our lifestyle. You are even under a lot of scrutiny when you apply for a loan. There would be a lot more formalities and also paper work to ensure you get the desired interest rate that you require.

Not only that even when you’re applying for a job you will be able to get the job a lot faster since your credit rating will show that you are trustworthy and dependable. Applying for a home mortgage or an auto mobile loan will also be easy since they know you will pay you EMI regularly and you will continue working for a very long time. It you are an independent entrepreneur you can even expand your business with a good credit score rating since money lenders are very particular about who they deal with as well as check that individuals credibility.

Your credit line may be extended and you can get the proper financing that you need for your business. The credit report will basically determine your lifestyle. It’s always advisable that you remember that while taking any commodity on credit you will also have to re-pay that amount at some point of time in your life. If you are not able to do so, your credit rating drops and you will have to pay a higher interest rate that will only lead you to debt. There are several ways of checking your credit report, you can find numerous vendors who can give you the credit report in a nut-shell so that you know exactly what to expect while applying for a loan.

If you are in school, college or even in a university, you could be a student or even a teacher, the government has made arrangements for the society to form School Credit Unions. These unions help you to get loans on group discounts. It’s not a profit making organization. They are for the people, by the people. There are quite a few benefits of being under this union. Since you do get facilities like free online banking, classroom supply loans, educator computer loans. The school itself can apply for a loan to re-furbish the library. Or even get new equipment for the school to ensure that the students are getting the best of technology that is available in the market at a subsidized rate.

School Credit Unions understand how hard you work for your money. They realize that it needs to be invested right so that you get maximum benefits that you are entitled too. These unions can even have meetings with any board of advisory that can take a call on the action that is required, they can be your voice and pass on the message or any idea that you have in mind that can benefit the school. To sum it up investing you money with the School Credit Union is worth a thought since you as an educator or student can benefit from this decision.