Category: Advice

Cash Genie: payday and quick loans

Cash Genie is a company that offers small loans to borrowers who need a bit of extra money to get through unexpected expenses. The idea behind them is that, when life throws you a curve ball, you have somewhere to try to find the money to get through it. What they don’t do is offer long-term loan facilities; that’s the place of other organisations and, in any case, they are not the best option for this – their rates are designed for the short-term market, which means that they would be too expensive if you tried rolling the loan over for several months or years, as you’d expect a normal loan from a bank to do.

Cash Genie generally offers amounts of between £75 and £750 for a period of just one month. The cost for this is 30 percent – meaning that if you borrow £100, you would repay £130 a month later. Naturally, if you kept borrowing, this would snowball – the APR or annualised rate of interest on this basis would be 2339 percent. But the point is precisely not to keep borrowing: it’s to borrow once, when there are no other opportunities to find the money elsewhere, to get you out of trouble – and hopefully stay out of it. One comparison for looking at the interest rate is staying at a hotel. You might pay £50 or £100 for a night away somewhere, and not think too much of it (assuming the hotel was of reasonable quality). And it’s intended to be just that: a night, or a short time away. But if you think of it in annualised terms, the same stay would set you back up to £36,500 – obviously more than most people are willing to spend! In the same way, cash loans are supposed to be for a short period of time.

If you need to borrow money at short notice and can’t find it anywhere else, Cash Genie may be able to help. You’ll need to be over 18, own a debit card and earn at least £500 per month. The typical customer is in work but experiencing cash-flow problems; it makes sense for both parties that the borrower will be able to repay the money at the end of the month, since if not the company loses the money and the customer runs into further problems. Of course, you shouldn’t take on any kind of loan without careful thought first. One way of looking at it is, will the cost of not taking out the loan (in penalties, fines or lost services/earnings) be greater than the cost of the interest?

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

http://www.cashgenie.co.uk/

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No need for a cash genie with the following tips

Being a sensible spender is a great way to make sure you don’t run into financial difficulties and start wishing you had a Cash Genie to help you out of a tricky situation.  There is nothing quite as frustrating as spending lots of money on something and then realising that it is not quite right, or you didn’t need in the first place.  Knowing your consumer rights can help make sure you don’t lose money by keeping hold of items you no longer need.  Arming yourself with the knowledge about how returns policies work is an easy way to save money.

If you end up with a purchase that you don’t want or need, make sure you take it back as swiftly as possible.  If you return it within four weeks you can usually get a full refund as you aren’t seen as having ‘accepted’ the goods.  After that time, you can probably only really expect exchange, repair or part refund.  If six months have passed, in order to return goods you will need to show that the goods were faulty when you bought them.

Unfortunately, if an item is the wrong size, you do not actually have the legal right to return it.  Many shops will allow you to exchange an item if this is the case, but they have no obligation to do so, unless they have an official returns policy that allows returns in these situations, as that would make it a contractual condition of sale that must be obeyed.  In addition, only the person ho has paid has a right to return unwanted goods.  This right can actually be transferred if the person who makes the purchase writes on the receipt that the item is a gift.

Buying items online can be confusing in terms of knowing one’s rights. You usually have more rights when you buy things online due to distance selling regulations.  This gives a legal right to send most purchases back within a week, for a full refund, even if there is no fault.  Online sales sites can therefore become a useful cash genie when you make an unwanted purchase.

Many of us have been in the situation when we return from a shopping spree with many heavy bags and severely lighter pockets, and it can be comforting for the over-zealous shopper to know that one does not need a Cash Genie to get them out of this situation.  If you do need to return purchases, knowing your legal position should mean that you get any refunds you do need without any hassle.

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

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Cash Genie on the economic recovery: common sense has to be used

Recent developments in the worldwide and homeland economy have been turbulent to say the least. The recent years saw the crumbling of massive financial institutions in the United States of America, and this has had a huge knock-on effect in all Western economies. The upshot has been that governments, including the UK government, decided that the best course of action was to bail out the banks and building societies that were swept under the tide of reckless lending and stock market speculation. But what are the implications for individuals and their savings, and what is the best course of action to prepare for the uncertain future? Although obviously the irresponsible lending and borrowing has to be a thing of the past, Cash Genie recommends that we all take a leaf out of Douglas Adams’ fictional book, The Hitchiker’s Guide to the Galaxy, which gives us a very important instruction: Don’t Panic!

The economy is at the early stages of its revival, and experts are unsure as to its stability and timescale. Especially now, in the UK, the argument rages on over the new government’s spending cuts, which are proposed to reduce the country’s massive deficit. While many argue that these cuts are a necessary evil to put the country back on its feet, others answer that the speed and depth of the cuts carry the risk of endangering the recovery and sending the country back into recession. On a more deeply political level, government supporters – including many Liberal Democrats, of course, whose party is a part of the current coalition government with the Conservatives – say that cuts are being made out of necessity, while others are suggesting that they are ideologically driven by the Tories.

But these political debates are not a part of everybody’s everyday lives. Rather, people are keen to know what the safest course of action is regarding their own money and their expenditure. Whatever the political truth of the matter, there have been early signals that the economy is recovering. Banks are tentatively willing to lend again, and offer a more attractive level of savings interest rates. But sometimes not spending can represent a false economy, if further down the line a reluctance to spend causes greater overall cost.

The best course of action, as in most cases, is to act sensibly. In other words, use common sense. Continue to spend as and when you need to, since, as the famous saying goes, you need to spend money to make money. But also, try to keep something aside for a rainy day, regardless of unattractive interest rates. The best advice, as the Hitchhiker’s Guide, and Cash Genie tells us, is Don’t Panic!

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

http://www.cashgenieblog.co.uk/

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