Free Beginners Guide to Borrowing from a Credit Company in Singapore
A credit company in Singapore has been helping Singaporeans get by throughout the years. Whether you are employed or an entrepreneur is seeking to widen your company’s reach, a loan is a handy tool. It helps you thrive or bridge a financial gap. However, getting a loan from a credit company in Singapore is not something you can take lightly.
Not because you can find many credit companies around the city-state does not mean that you can just choose one and borrow cash from any of them without proper research.
The Singaporean government has been concerned by the growing number of Singaporeans taking too many loans than they can handle.
The lack of foresight when borrowing cash can be your financial downfall. However, borrowing money is a helpful tool for an intelligent borrower. And being a responsible borrower does not start with repaying your loan on time to your credit company. It actually begins with choosing which credit company in Singapore to trust.
10 Questions to Ask a Credit Company in Singapore
1. Are you a licensed lender?
In short, a credit company thriving in the lending industry for a long time means there is already a reputable background that you can count to. To verify if a money lender is legally operating, you must check the list of licensed money lenders provided by MinLaw.
2. How much can I borrow?
If you exceed your loan cap, you will no longer be eligible to get an unsecured loan from any credit company in Singapore. While it is tempting to borrow more, a responsible money lender will likely decline a borrower who cannot repay the loan on time.
With the help of the Moneylenders Credit Bureau (MLCB), a credit company will know how much you can still borrow. It prevents you from getting too many loans that you can handle. After all, a credit company just wants to lend and get repaid on time to keep their business running.
3. What is the interest rate?
The late interest is charged only on the unpaid loan amount and not on the principal loan amount or the amount that is not yet due to be repaid.
4. What are the terms and conditions?
MinLaw requires every credit company to be clear and transparent with its terms and conditions. For example, get a loan only if the credit company could discuss and explain the crucial details in your loan contract.
Furthermore, make sure you fully understand every term in your contract, especially the interest rate, fees and repayment schedule. Bear in mind that the contract is legal and binding. It is the borrowers’ finances to hold their side of the contract.
5. Do you have flexible loan packages?
A reputable credit company will be willing to help you choose the most flexible option to help you repay your loan with ease.
6. How fast is the loan process?
The earlier you can complete your required documents, the faster you will process your loan application. For example, if you apply to Cash Mart, you can get your cash in as short as an hour to a day.
7. Is the loan advertisement real?
Did you receive or see any advertisements like SMS, emails, flyers or any forms of prohibited advertisements? It can be any of these two. First, they are from a licensed moneylender not following the strict rules and regulations. Or second, it is an unlicensed moneylender trying to fish for unsuspecting victims.
Do not respond to any illegal advertisement. Instead, report it to the Police or the Registry of Moneylenders.
8. What is the eligibility requirement?
Some credit companies only have loans for Singaporeans and Permanent Residents. Others give a loan to foreigners who have proper working documentation. Others offer loans to low-income earners, while others do not. Shop around to know which credit company can serve your needs.
9. Do you have friendly support?
In addition, many borrowers also appreciate it if the loan officer considers their personal preferences and needs. In addition, Cash Mart’s loan advisers and friendly and attentive. If you want to get advice on your loan-related matters, you can feel free to send a message on WhatsApp, call, or visit them.
Furthermore, a reputable credit company even helps customers who want to learn more about financial literacy.
10. What are the other fees that a credit company in Singapore can charge?
Take note that MinLaw permits money lenders to deduct a loan approval fee of up to 10% from the principal amount. However, they can’t ask borrowers to pay an upfront fee prior to the loan process approval or disbursement.
What to Do After Your Loan Is Granted?
As a responsible borrower, you must first check if the right loan amount has been disbursed. Then, get your own copy of the loan contract and meet the repayment schedule. Every time you make a repayment, be sure to keep the receipt safe. It will be proper documentation that you paid the right amount on time.
Being a smart borrower gives you the chance to build a positive relationship with the credit company. Also, you can build a healthy credit score that you can use to have better loan offers.
Signs That You Are Dealing With a Loan Shark
No licensed credit company in Singapore should use abusive language or behave threateningly. In addition, they must not ask for your SingPass user ID and/or password over the phone, email, SMS or through the online application. Add to that. They should not retain any of your personal ID documents.
Additionally, ensure that you do not sign an incomplete contract. A loan contract must have complete terms and conditions. Also, it must indicate your loan amount, repayment scheme and dates, and other fees. They must properly discuss the loan contract. It helps you understand what you are signing into.
No fair practising credit company will approve a loan without any due diligence. Therefore, even before you can completely file your application, approving your loan is an absolute red flag.
Should you encounter an Ah Long or a licensed money lender with unfair practices, you must report it to the Registry at 1800-2255-529. Rest assured that they will not disclose your personal details.
Is Debt Consolidation Loans Right for Your Business? 8 Important Things You Should Know
Most businesses have an extremely daunting time managing the huge debt amount they have. However, the business owner faces constant stress and worry about the rising burden of the business debts. You have the freedom to opt for debt consolidation loans.
In fact, according to Forbes, 90% of business ventures fail due to cash-poor positions. Sometimes, there are not enough returns for clearing loans.
A debt consolidation program can drive the business towards an empowered and debt-free future. Debt consolidation loans are responsible for combining diverse balances. This way, you owe to the various creditors, in only one monthly payment and a single rate of interest. In addition, the debt consolidation procedure can help ease the burden of debt. Plus, it allows you to pay the debts in a more attainable manner.
Given below is a list of the facts about a debt consolidation loan. You should know and understand before you choose it for your business.
Debt consolidation loans cannot erase the business debt.
Debt consolidation is responsible for combining all the various business debts and balances into a single payment. Therefore, it is not only simple but also convenient. In addition, the loans are extremely effective in making the repayments of business debt attainable and manageable. Furthermore, the loans do not mean erasing the outstanding debts. Instead, it involves bundling the individual debt amounts into impressive new loans with single payments.
Two kinds of debt consolidation loans exist.
You have to have sound knowledge of the two different kinds of debt consolidation loans. The two types include secured and unsecured loans. You have to know that a secured loan is typically associated with your valuable assets. For example, your home, car, property, etc., become collateral. It applies, especially if your business defaults on the repayment of a loan.
On the other hand, unsecured loans have no relationship with your assets. An unsecured loan depends on the credit score and the credit history. It helps determine if you are considered a borrower of high risk. You need to take help from professional debt consolidation organisations or lending firms. They assist you in getting reliable and prompt solutions. Therefore, your business is capable of reaping the benefits.
Credit counselling and debt consolidation are not the same
Credit counselling and debt consolidation are not the same, but the businesses often entwine them. Also, a credit counselling agency employs certified and qualified people. First, they will be assisting you in creating a budget for your business. Then, they will further craft a fresh plan. This way, your business is capable of getting rid of the excess debt amounts.
A credit counselling agency normally tends to look at the broader picture. For example, it includes the overall structure of the finance of your business. Plus, it goes along with the debt amount that you have.
Debt consolidation can help to clear your loans.
Debt consolidation is responsible for merging all the business loans into only one loan or a single payment with a low-interest rate. It means that it will be easier for you to free your business from the tight clutch of the never-ending business loans. In addition, you now can pay the current business loans that you owe to the creditors. You use the monthly payments along with a low rate of interest.
Debt consolidation loans imply new lenders.
The third-party systems of payment are employed for debt consolidation loans. As soon as the debts have been consolidated, you only have to pay the intermediary. It is opposed to paying directly to the creditor. Once they have already completed all the negotiations with creditors, you are responsible for paying from your side. Most debt consolidation agencies have a perfect rapport with the lenders. Also, they will be successful in coaxing out better terms and offering low rates of interest. Thus, it effectively helps you to clear the remaining debts that are present.
How can you consolidate your business debts?
It is also important that you have knowledge about how you can consolidate the business debts.
Below is the how-to list for preparing yourself to handle the business debts.
Figuring out the total amount
The first step you should take as a business owner is figuring out the total amount you owe to the individual creditors. You need to take a look at your outstanding debt and ensure that you are making a list of all the debt and the balances. Also, you will be interested in comparing the loans’ terms to observe the total time left for clearing the current loans. Moreover, you can go with Nationaldebtrelief.com to gain more information about a debt consolidation loan.
Calculating the blended rate of interest
Debt consolidation loans are responsible for taking all the loans at various interest rates and merging them into a single loan. It is crucial that you know the average rate of interest that you will be paying across the debts. Calculating the blended interest rate across all the debts and comparing that with the rate of interest on the business debt consolidation loan is significant. When you find out the blended rate, you will have the basis of comparison when comparing the interest rates for the new consolidation loan.
Having a clear purpose
Licensed moneylenders always require the perfect sense of how you are using the funds you are interested in borrowing. Therefore, it is crucial that you decide how to use the loan before borrowing money. When you have a perfect plan, it will help you communicate with your creditors properly. Ensure that you can explain how you are going to use the funds and the total money that you require.
Conclusion
Educating yourself about a business debt consolidation loan will help you understand if it is perfect for your business. In addition, you should opt for other debt-relief options. Ensure that you gather proper knowledge about the various factors associated with this loan.
4 Effective Ways to Escape Spiraling Debts to Prevent Being Broke
Too many financial obligations can lead you to be broke. Prevent this from happening by applying these ways to escape spiraling debts.
It is widely accepted that loans are part of an average Singaporean’s life. However, while getting a housing loan to get a home is needed, getting into too much debt might put you into bankruptcy. Therefore, this will forever change your life.
Recent Facts:
The Monetary Authority of Singapore (MAS) has urged Singaporeans to be more prudent to service debt obligations. The government acknowledges the high number of households with loans. In 2015, the REPAYMENT ASSISTANCE SCHEME (RAS) was introduced to help earners of less than $120,000 per annum pay outstanding debts.
In September 2015, 94,950 debtors missed payments on unsecured credit for two or more months. It is a noticeable increase from 80,390 in 2014. Therefore, it is no secret that more and more Singaporeans use loans. They apply to either get by through financial gaps or purchase things they have wanted or n. However, there is an increase in debtors missing their repayments. Remember that late repayments will pull down your credit score. Therefore, future lenders will evaluate your creditworthiness. Mainly, they consider your credit score.
Households Debt to GDP (Gross Domestic Product) in Singapore averaged 40.70 percent of GDP from 1991 until 2015. However, it reached an all-time high of 60.80 percent of GDP in the third quarter of 2015. The increasing household debt to GDP might not show its effect as of now. However, it might hinder the economic growth potential of Singapore in the long run. That is why the Monetary Authority of Singapore (MAS) continues to have strict lending restrictions.
5 Signs you Have to Escape Spiraling Debts
Your loan application keeps getting rejected.
Both banks and money lenders have been rejecting your loan application. The lenders are usually evaluating the risk of each potential client. If they think you are a risky customer, they will deny your loan application. Another reason they might be rejecting you is that maybe they were your past lenders. Unfortunately, you did not diligently pay your loans. Also, your credit score may be at an all-time low. It often indicates a serious financial problem.
Your Debt to Wage Ratio is higher than 80%
To compute your debt to wage ratio, you have to add up all your repayment obligations in a month. Then, compare it with your monthly salary. For example, if you earn $4000, your accumulated repayment each month is $3,500. But, then, you only have $500 to spend on your monthly necessities and everyday needs.
If your debt to ratio reaches 100% and higher, this is a sign of seeking help from credit counseling services. Examples are Credit Counseling Singapore- a non-government-link organization.
You earn a median wage, but you are unable to repay loans on time
If you consistently have late repayments or haven’t paid your loans for more than three months, you are already in spiraling severe debt. The median wage in Singapore is $3,700. You should start backtracking if you earn above it yet can’t pay your monthly dues. Afterward, recreate a budget plan.
You cannot even pay the minimum repayment amount.
You are in a debt crisis if your duties exceed your salary. If you can only repay just the minimum repayment, it is time to restructure your debt.
You have to choose between paying loans and necessities
If you find yourself deciding whether to buy food or pay your loans, you are in a debt crisis. It is fine to give up your leisure. These are watching movies and buying a new pair of shoes. However, missing basic necessities such as food, water, electricity, and phone bills is a serious dilemma.
Now that you discovered your debts are out of control.
5 Situations that can make it worse
Yes, it can still get worse. But, unfortunately, it does happen.
Getting injured abroad
If you do not have extra savings at hand, you will have a problem when you get injured abroad. The Consulate or Embassy of the Republic of Singapore in the foreign country will only help you contact your significant others back home. But they will be unable to help you financially. Therefore, it is better to have travel insurance with wide coverage if you travel abroad.
Serious house repairs
Suddenly bursting pipes, flooded toilets, and a severe power failure need major house repair. If you have limited money or savings, how will you deal with a refrigerator full of food? These items will easily rot in such a tropical heat.
Suddenly being laid off.
You may have heard some rumors. However, you were not prepared when your company suddenly laid you off due to budget cuts. If you have spiraling debt and suddenly lose your only source of income, you are in trouble. Know the signs if you are about to lose your job.
Credit card fraud
You have heard stories of identity thief victims, and you might never know if you are the next prey. Be careful when putting your sensitive information online. Once a hacker uses your credit card and maxes it out, you will be in deeper debt. The good thing is, with the Monetary Authority of Singapore (MAS) guidelines, your maximum liability is only $100. It would apply to you unless there were negligence on your part. Always keep your card details secured if lost. If you think someone else has been using your cards without your permission, report it to the bank immediately.
Dental problem
It is found not to be able to watch TV due to a power outage. You can live with that for some time. However, if you got a toothache, consider it an emergency since the pain might be too much to handle. Hope you will not need a root canal or any major dental costs.
What to do to escape spiraling debts?
Pay off the bad debt first.
There can be two kinds of debts. Good Debts are loans that can help you with your asset or wealth, such as a housing loan. The bad debts are the ones you have already exhausted their use. Or you have to use it to buy something which depreciates after some time, such as car loans and payday loans.
Pay the bad debts first as they possibly have the highest interest rates. Then, after paying off the bad debts, you can focus more on the good debts. Remember that it will reflect late repayments on your credit scores.
Among the bad debt, prioritize the ones with the highest interest
Pay the highest interest rate first because as long as it gets unpaid, the more interest it will accumulate. Thus, the ballooning cost will blow up in your face. Sadly, a difficult time to escape spiraling debts.
Create a debt repayment plan
List down all your loans and start a debt repayment plan. Put in their interest rates and the repayment schedule.
Arrange the list in such a fashion. The top should be the ones you need to pay off first.
Join a support group
You will learn responsible borrowing, your rights as a borrower, and your responsibilities. If you have loans from loan sharks by chance, these groups will likely help you find ways of solving this problem. The support groups will not entirely give you money to pay all your debts. However, they will surely give emotional support as having spiraling debt can be psychologically draining.
If you already feel that you will have problems with repayments, never hide from your lenders. Instead, communicate with them. Afterward, you will be surprised that lenders are willing to adjust repayments terms for their clients.
If you need affordable personal loans from a trusted moneylender, visit Cash Mart. Proving their service beyond customer expectations, the staff behind Cash Mart consider themselves their clients’ financial partners.
Moreover, they advise on how the clients get back on financial stability. Call Cash Mart now and learn why their clients are transformed into loyal consumers.
People get low interest personal loans for various reasons. Some call it for emergency needs, while others want to boost their credit score. It is handy even for business owners who want to kick start a micro business.
Low interest personal loans are helpful for those who are not confident in getting a loan from banks or borrowing money from their friends and relatives.
What is Personal Loan?
Personal loans are unsecured loans usually used for immediate cash needs. It is quite handy if you can’t pledge property such as a home or vehicle. And since there is no collateral, the process will be shorter. Nobody is sure about his/her finances. There will be times when a cash need suddenly pops up when you think your finances are perfectly balanced.
Good thing there are personal loans within easy reach. You can use personal loans in a myriad of ways. For example, you can use it as a bridging loan to pay for your car’s downpayment. Also, you can use it to buy gadgets, consolidate existing loans and even add it to your emergency cash for your trip abroad. There will be many options, but not all will have competitively low interest rates.
Benefits of Personal Loan
There are various types of personal loans. Some are multi-purpose, while others have specific use. Before applying for a personal loan, make sure that you have a clear purpose. This way, you will be able to use it smartly.
Some Singaporeans use a personal loan to pay for their car’s minor repairs. There are times when a minor car repair can make you lose your No Claim Bonus insurance policy. It means that you can enjoy a benefit if you do not claim your insurance for a certain time. Usually, insurance providers waive some fees or give a 20-50% discount on the premium. Furthermore, it means more savings in the long run. Others use personal loans to consolidate other existing loans.
If you have a couple of loans to pay and have a hard time tracking each due date, a consolidation loan comes in handy. You can use a personal loan to pay off other loans. Then, you just have one loan to pay and track. Another use for low-interest personal loans is for your home’s minor renovation. Do you need to fix a sudden plumbing problem but have no extra budget? Get a personal loan to ease your mind. Even if you’ve got a credit card, there is no denying that there will still be places where you will need to have cash in your pockets.
Credit card cash advances have a steep interest rate charged on you each day until you settle the loan. Also, it is apart from the Cash Advance fee. Also, if you get a cash advance, it will be charged to your credit limit. Therefore, you will need to use your credit card with caution.
How to Avoid Low Interest Personal Loans Scams
Since personal loans are undeniably useful for Singaporeans, loan sharks have used them to milk unsuspecting people with every cent they have. Anyone can fall for the scammer’s sweet words, but you must be vigilant. If the moneylender tells you to make an advance fee before receiving your loan, walk away. It is prohibited for a moneylender to ask for any payment before the approved loan amount is released. A licensed moneylender will either deduct the processing fee from the loan amount or include it in the repayments.
They never ask for upfront fees. Check it the moneylender has a physical location. There are online licensed moneylenders. Processing the loans can start online. It can save your time as you can apply through their websites. However, they must also have an actual office where you can drop by. Having no real office is a clear sign that you are dealing with a loan shark. Do not forget to check the list of licensed moneylenders in Singapore.
The Ministry of Law strictly keeps checking on the compliance of the Moneylenders Act. Also, it keeps the industry fair and competitive aside from protecting both the borrower and the lender from abusive individuals. Another thing to consider is the years a moneylender has been in business. Indeed, a reputable moneylender thriving for decades has a long list of loyal clientele.
Cash Mart: Personal Loans Near Me
Take control of your finances with the low interest personal loans nearest you. Whether you want to pay off outstanding bills, go on a holiday trip, renovate your home, or consolidate your debts, Cash Mart indeed has the best personal loan. Just apply online anywhere you are in the city-state, anytime on the day. Whether you are a high wage earner or have a low regular salary, Cash Mart has personal loans flexible enough for each borrower.
It is further designed to fit money needs for various purposes or reasons. As a reputable licensed moneylender, Cash Mart will walk you through the whole process and give you options to help you find the loan that will fit your preferences. As a licensed moneylender, Cash Mart also believes in transparency. Feel free to inquire first about its loan products. Use the online calculator and navigate through terms to know which one is best for you. Get a loan from Cash Mart today to experience what the best low interest personal loans ought to be.
Welcome the Chinese New Year this 2018 with this Chinese Zodiac Financial Guide. Keep your hope and energy renewed for the entire year.
Your Chinese Zodiac financial guide energies are now dominated by the Earth elements in Yang form from February 16, 2018, to February 4, 2019. Find out what the Year of the Earth Dog has in store for your finances with Chinese Zodiac predictions. Furthermore, learn how to smoothen some bumps throughout the year.
Generally, your wealth luck is on average. Your finances can be smooth sailing. But, there will be no major ups or downs. However, be cautious with your investments. Major investments are too risky and could cause more than you can bargain for.
Career:
It is not recommended to change jobs this year. Instead, stay put and give your best one task at a time. Though your workplace proves to have a challenging environment, it pays to keep in low profile and not engage in company politics. However, if you really feel like quitting your current job, make sure you have already found a new one before tendering your resignation.
Pro Tips:
Avoid gambling or any other betting games.
Your lucky colours are greyish blue, ocean blue and light blue, which you can accent with accessories in light grey colour.
Do not make any drastic career change without a thorough financial plan.
Pig Chinese Horoscope 2018
Finance:
You have favourable luck in finances this year. However, be mindful of your spending. Avoid exposing your valuables and money so you will not attract fraudsters, thieves and burglars. Though you have good financial luck, it is still too risky to invest your money in one place. As the old adage says, do not put all your eggs in one basket.
Career:
Female Pigs have promising careers awaiting them this New Year, especially for those in regional roles for the company’s overseas offices. People working in advertising, artistic design, and literary creation will also have an extra boost of luck this year of the Dog. However, be on the lookout for changing schedules to avoid delayed tasks. Generally, Pigs with male bosses will have better lucks at work.
Pro Tips:
Your lucky colours are light red, pink, and burgundy.
Do not hesitate to assist your coworkers, as they will also help you with some obstacles.
Rat Chinese Horoscope 2018
Finance:
With the blessings of the auspicious star ‘Tang Fu’, your income will come slowly and steadily but will not halt. Therefore, wisely choose your investments and keep rational. Some tips from your friends may seem tempting, but keep being objective. While your income is stable, you might not be as lucky with your investments.
You understand how your money works and does well with growing your finances. However, the more you earn, the more carefree you get.
Career:
You can show the higher authority that you have what it takes to climb on your career ladder. Of course, you impress people at your workplace, but you must not stress out with your perfectionism.
Pro Tips:
Include ornaments with your lucky colours, red, green and purple, at home. You can also wear clothes and accessories in these colours to increase your luck.
Learn to let go and breathe at times.
Ox Chinese Horoscope 2018
Finance:
In your Chinese Zodiac financial guide this year, it is the time for female-dominated industries to prosper. If you belong to such a company, your finances will likewise improve. However, you’ll manage to balance your finance and keep your impulses in check since you tend to indulge in wealth.
Career:
In 2018, you will challenge a co-worker or board member due to your chronic intolerance and inability to accept the fault of others. Also, you will be forced to travel across the city-state. Or probably out of the country to settle important yet annoying affairs. In addition, there is a possibility that you will question your company’s ethics and co-workers’ principles.
Pro Tips:
Pay attention to your relationships with your colleagues. Give them the benefit of the doubt, and you will get assistance from them.
Wear sky blue, green or black colours complemented with accessories in pearl white colours.
Keep a cup of water in your office.
If you have a business, be cautious and conservative. Work with a female for better luck.
Tiger Chinese Horoscope 2018
Finance:
The New Year will bring more luck since your financial downtime in 2015. Good thing the Tiger is an ally of the Dog. It means your luck has turned for the better regarding business and investments. However, while you have a huge leap of financial fortune, be careful when venturing into new investments, as they can turn into big losses.
Test the waters first before putting your money into a big investment decision. The same goes for expanding your current business.
Career:
Ditching your current work may not be a good idea this year. You may receive a new job offer, but your current one will still be better. Just make sure that you keep your temper in check. Though it might be rumours circulating against you in the office, it is better to deal with it calmly or else it will end up with a huge misunderstanding.
Pro Tips:
Avoid being anxious, or you are bound to make a financial mistake.
Keep your lucky colours light brown, yellow-brown, orange, and yellow close by.
Your lucky accessories must be in accessories with purple and red.
Rabbit Chinese Horoscope 2018
Finance:
Rabbits in sales, property or insurance fields will receive the best of luck this Year of the Dog. Now is the time to commence the plans you have been holding back for a long time. Invest in something new. Try investing in gold, stocks, or mutual funds and other opportunities but always take time to study it first.
Career:
This year, you will reap the fruits of your hard work. Your superiors will recognise your effort and will possibly promote you. Aside from this, your leaders and colleagues will help you with your goals. Also, it is a good year to change your job, but make sure to sign the contract first before leaving your current job.
Pro Tips:
Keep in low profile to avoid burglary and theft despite your financial luck.
Avoid flings, especially in your workplace.
Do not skip meals despite a busy career because you are prone to illnesses.
You can build a good rapport with your superiors by minding work ethics.
Your lucky colours are light brown, earth tone and beige.
Make new acquaintances. New friendships can lead to profitable business deals.
Dragon Chinese Horoscope 2018
Finance:
Financial luck will not be at your side. It is best to secure your finances and play safe rather than lose your money. Be prudent and always follow your spending plan. Cut down expenditures and adopt the prudent capital preservation strategy for your investments.
Career:
Stay motivated at work despite the pressure and harsh environment. Despite the hardship you are encountering, you must not change your job. Instead, find strength and focus on it. Your hard work and integrity will eventually pay off. Also, even with the windfall, you will be able to find your lucky star from a friend, colleague or family member.
Pro Tips:
Keep a chunk of cash in the bank for an emergency.
Spend wisely and encourage your family to do the same to help you.
Save more because you are likely to encounter unexpected expenses.
Keep your opinions to yourself if you think it might cause a major misunderstanding at work.
Keep a cup of water in your room to increase your luck.
Snake Chinese Horoscope 2018
Finance:
Be mindful of the tips you are receiving from the business experts. What works for them does not necessarily work for you. There will be a handful of investment opportunities, so take your time to consider the best one for you. Do not be impulsive because you might lose your money. But, on the other hand, you will be able to recuperate financially and start again.
Career:
Your career will be smooth sailing this year. Expect a promotion or raise in your salary as your achievements have been finally noticed. But, on the other hand, suppose you are working part-time, hold on a little longer as you might get the chance to be offered the full-time position. This year is the best time to do it for those with full-time jobs planning to change careers.
Pro Tips:
Do not forget to donate to charity.
Your lucky colours are gold, off-white and dark.
A crystal or white object on the North Western side of your room or office will increase your luck.
Horse Chinese Horoscope 2018
Finance:
You have average luck on your side. However, your impulsive decisions will lead to financial losses. If you have emergency funds, it is best not to touch them as much as possible, as you will be prone to accidents. Avoid booze and women, as these can be your financial downfall. If you must spend, use your money for value-preserving valuables.
Career:
If you are employed, you must strive for more achievements. Do not be too comfortable with what you have right now. Keep moving, learn new skills or study a short course to get the chance for a raise. However, always keep a low profile because you can easily attract gossip.
Setbacks and problems may cause a heavy blow to your career due to office politics, leading to betrayals.
Pro Tips:
Your lucky colours are off-white, bright grey and gold.
Keep a crystal object on the northwestern side of your room or office.
Practice open communication to avoid getting misunderstood.
Goat Chinese Horoscope 2018
Finance:
Your year is showered with wealth luck. You will get significant investment returns as your primary source of income will also increase. Despite this, keep your lifestyle simple. Be conservative and control your spending, especially on gadgets, to avoid theft and burglary. Avoid borrowing from people you know. The attachment in the relationship may lead to financial downfall.
Career:
Your career will be bright this year. Get promoted or a raise since you have put a lot of effort in the past. However, be cautious about who you trust in your workplace. Gossips will be plenty, but you can take control if you stay calm.
If you are considering leaving your hometown, now is the best opportunity. If you own a business, expand to farther locations to give your company more growth.
Pro Tips:
Your lucky colours are bright blue-grey, navy blue and dark brown.
The best accessories are in lily-white.
Place a cup of water in your office.
Monkey Chinese Horoscope 2018
Finance:
Despite the gloomy year, a positive attitude can bring you some luck. Save and spend within your means. And while your luck is limited, frequent business trips may mean that you can earn more while away. External markets can also bring better finances but avoid investing beyond what you can afford to lose.
Career:
If you have a full-time job, looking for a part-time one will ease your financial burdens. However, be careful with your words as you might unknowingly hurt a coworker who will stab your back.
Pro Tips:
Avoid gambling. Look for less risky and expensive entertainment.
Your lucky colours are apple green, dark green and dark blue.
To increase your luck, keep a plant in your office.
Rooster Chinese Horoscope 2018
Finance:
You got financial luck in 2018 is average. There will be unforeseen expenses, and you need to save every extra cash. While you have a stable flow of income, a simple sudden financial need puts your finances in bad shape. It is best if you stay away from gambling and lottery.
Career:
Expect disputes in your workplace. Nevertheless, keep calm and control your temper to resolve the problem without sacrificing any relationship. Focus on the task at hand rather than getting affected by the people around you. If you plan to venture into a new business, this year will not be favourable.
Pro Tips:
Increase your luck with your lucky colours: emerald, yellow-green and green.
Keep a fortune plant in your office.
Compliment your style with accessories in dark coffee and brown colours.
Try to balance your career and social life to avoid getting stressed.
Every year people get excited to check their Chinese Zodiac financial guide signs hoping for good luck. We also look for ways to counter bad lucks with lucky colours and items such as fortune plants and crystals. Furthermore, the Chinese Zodiac financial guide serves you to handle your finances, but your overall luck will remain with your attitude when challenges come.
Personal Loan 101: 7 Must-Pass Qualifications to Get Approved
Ever wonder why some loan applications get declined? It’s due to a lack of eligibility. Learn the qualifications to get approved.
Some Singaporeans are so confident that their loan applications will be approved. But they end up getting rejected for some unfathomable reason. Was it just a bad joke? Did the loan manager wake up on the wrong side of the bed?
Moneylenders and their loan officers are not individuals who approve or decline loan applications out of sudden mood swings. After all, lending is still a business. So parameters have to be put up to decrease lending risk to delinquent clients.
Personal loans are the usual lifelines for most people in the city-state. It is heart-breaking to get rejected when you need it the most. How can you increase your chance of getting approved?
The age range is the first thing you will usually see on any eligibility list. Moneylenders lend to income-generating borrowers. Therefore, most moneylenders would give a loan to at least 21 years old up to 65.
Borrowers younger than 21 usually do not have enough credit history. In addition, they just started to earn their first salaries. Also, they are on their first credit cards.
Furthermore, some lenders admit that younger clients sometimes lack a sense of financial responsibility.
Citizenship
Most banks will only approve a personal loan to a Singapore citizen or a Permanent Resident. However, licensed moneylenders offer personal loans to foreigners. What matters is they provide the needed requirements. However, personal loans for foreigners in Singapore have some additional qualifications.
Income
Let’s face the truth. No lender will lend money to someone who has no source of income. How will a person prove that he/she can repay the loan? Take note that there is interest involved. Lenders will question your capability if there is no way to earn enough money. Plus, there are daily necessities to prioritise. If unemployed, expect most financial institutions to decline your loan application.
Most banks and moneylenders require a minimum income. It must be around $20,000 to $30,000 annually. Of course, this range may increase for earning borrowers. However, it depends if you are a foreigner, self-employed, or commission-based.
Credit Score
The Credit score takes a long time to rebuild. It is the history of handling trust from your previous lenders. Some people may wonder why they declined despite the high salary and high rank in their company.
Before you go hysterical, you must understand the qualification to get approved. First, banks and moneylenders tap the Credit Bureau to check your credit score. From there, they see your previous and current loans. Also, it shows your behaviour during the repayment period. So reflect on this question: “How did you handle your past loans and credit card bills?”
Put yourself in the shoes of the moneylenders. A stranger asked to borrow some money. But then, you get to see that he ended the previous loan in default. Will you trust that person’s ability to pay?
Debt
Aside from the credit score, the moneylenders are also particular about the borrowers’ current financial status. Do you have a couple of loans? Tracking them at the same time might be difficult. If you have existing loans, it is still best, to tell the truth. Why? Because they are most likely to find it out. It is one of the common mistakes some borrowers still make nowadays.
Moneylenders may lend to someone with loans such as a car or home loan. However, you have to prove how to handle all your repayments.
Employment duration
For most financial institutions, you must have at least three (3) or four (4) months of employment in your current company. Of course, some financial institutions may not specify the minimum period of employment they require. But it indeed affects their loan decision. So consider these qualifications to get approved.
Co-borrower Details
Usually, a co-borrower must be a Singapore citizen or a Permanent Resident. Most banks require the co-borrower to be a relative of the borrower. What if you do not have anybody willing to risk their necks for you?
Fortunately, some licensed moneylenders do not require a co-borrower.
Online Personal Loans Requirements
Online personal loans are loans you process online. But still, have to go to the moneylender’s office to sign the loan contract.
This type of loan has a quick turnaround. It takes at least an hour up to 24 hours. Why? The loan managers instantly review the loan application.
Most licensed moneylenders who offer online personal loans also require minimum qualifications:
The loan applicant must be aged 21 years and above
Singapore Citizen or Permanent Resident
Identification Card (NRIC) and SingPass Login
The latest proof of billing
Latest 3-month original payslip or CPF contribution
Letter of employment
Take Note:
With this list of qualifications to get approved, you can self-assess which part is your weakness as a loan applicant. Before you apply for a loan, make sure to check the eligibility and requirements of the financial institutions. Also, it helps to know if you have a chance to get approved.
If you think you have a bad credit score, find a moneylender who caters to those with low credit scores. Or nourishes it first before applying.
Provide complete required documents to assure faster process. Also, make sure that all copies are clear. Plus, all details are consistent.
Being a borrower, it is your responsibility to prove that you are creditworthy. The best way to do this is to be diligent in all your loans.
As lives become convenient in the city-state, living costs also go up with inflation. You are fortunate if you can always keep up. However, not everyone is as lucky as you.
What do Singaporeans do when making ends meet is impossible? They get online payday loans.
There is nothing new about this trend. In fact, getting a loan has been common. However, many would pretend that they had never tried it even once.
What is a Payday Loan?
Payday loan in Singapore has been the answer for those who need to bridge the financial gap. But unfortunately, when things go according to the budget, something will come up to drain your financial resources. If you have no emergency funds, then you are doomed.
Good thing you can get online payday loans in Singapore. These loans are unsecured. It means there is no need to pledge any collateral. Therefore, you can borrow instant cash without fear of losing any of your jewellery, gadget or signature bags.
A payday loan is a cash advance. If your salary is just around the corner, you have already run short of cash. So, you can get to borrow a small number of loans. Then, you settle the loan on your payday or the agreed date. Simply, payday loans art like having your salary in advance.
Banks do not offer cash advances. The simple reason is that they take too much time to validate the borrowers’ capacity to pay. Payday Loans are for immediate needs. If the bank asks for too many requirements and approves the loan after a couple of days, this totally beats the purpose.
Why do Singaporeans Apply for an Online Payday Loan?
Fast Cash Loans
Online Payday Loans are accessible right at your fingertips. Nowadays, everything is available online. That’s why the future of lending has nowhere else to go.
With online payday loans, you can get your cash in less than an hour. You have to apply online simply. This way, you can save time by completing your application online. Also, you can even make an application any time of the day. Most money lenders will need your Sing Pass. However, they will not ask you to divulge it. Instead, you need to get down to their office. Then, you log in to SingPass yourself.
Secured borrowing with MAS Licensed Moneylenders
Licensed moneylenders are prohibited by the Monetary Authority of Singapore to get the borrower’s SingPass. Aside from this, licensed moneylenders strictly follow the MAS lending guidelines.
You will not be charged with an outrageous interest rate. Also, it should not be higher than 4%. Plus, there will be no hidden charges.
Saves time
Another reason Singaporeans get online payday loans is for the convenience of less paperwork. In addition, unlike with the banks, the requirements are simpler. Plus, the eligibility is easy to meet.
Builds up your credit score
Most banks have high standards with credit scores. By getting a payday loan, you can rebuild your credit history. If you are planning to get a car loan or a housing loan in the future, it is better to build up your credit score first before applying for it.
Unlike getting a loan from loan sharks, getting an online payday loan from a licensed moneylender ensures security. Your personal information is safe. Moreover, your good paying habit is appropriately reported to the Credit Bureau.
There is no need to borrow from relatives and friends
Some individuals feel disgusted for borrowing money from friends and relatives. In addition, unpaid loans wrecked countless relationships.
Also, some Singaporeans value their pride. Therefore, they do not want to show other people that they are going through a financial dilemma. It is especially true if the money problem is vices and luxuries.
How to Find a Responsible Online Moneylender?
Registered with the Registry of Moneylender in Singapore
MAS has a list of registered moneylenders in Singapore. They are highly regulated to protect the rights of the borrowers. Unregistered money lenders or loan sharks usually charge high-interest rates and use illegal ways to collect repayments.
Must not ask your SingPass Login
If it is needed, you must be the one to input it into the computer. Nobody has the right to access your SingPass.
Offer you a loan calculator.
Loan sharks like to keep their borrowers in the dark. They will hide fees aside from the astounding interest rates. However, responsible moneylenders provide loan calculators. It helps their borrowers make better decisions.
Some borrowers sometimes focus on what they can borrow. But, they fail to assess if they can handle the payments.
Do not lend an amount the borrower cannot pay at ease
Loan sharks just lend any amount to borrowers. They aim to bury you in debts. This way, the loan shark will have a reason to milk you of every single cent you have.
Gives quotes of rates and terms of repayment
Responsible moneylenders give you the quote of interest rates and applicable fees. Also, they elaborate on everything before they ask you to sign a contract. They will make sure that you are well informed.
Has a physical office
Some online lenders have websites pretending to offer loans. However, they want to take your personal information and use it for fraudulent activities. Therefore, before starting your online loan application, it is better to research. Check if the lending company truly exists.
Has a professional looking website which is updated regularly
Responsible online moneylenders are professional. They make sure that their websites are user-friendly and always secured. That is why it is always updated. Also, keep an eye for grammatical errors and spelling mistakes.
Teaches about the rights and responsibilities of the borrowers
Borrowers need to know their rights to prevent falling prey to loans sharks. On the other side, they also have responsibilities that come with benefits. If the borrower pays the loan on time, he or she can build up a better credit score.
Guides the borrower towards financial stability
Responsible moneylenders are interested in making lasting relationships with their borrowers. That is why they want to give financial guidelines to their borrowers. In addition, some of them make blogs to help borrowers gain knowledge. It focuses on saving, budgeting and investing.
Cash Mart has an accessible website and a team of accommodating loan experts to help you get a payday loan at ease. Feel free to call them at +65 6397 4111 or drop by the Balestier Road office.
The Real Cost of Cars That Your Dealers Will Never Tell
When buying your dream car, you need a dealer’s assistance. However, some of them don’t disclose the real cost of cars. Learn more about it.
When you are younger, you imagine the best car you want to drive. So when you get your first regular job, you go shopping for your dream car. But, you do it thinking that you only have to pay its selling price. So, to save you from shock, we will reveal more costs in a car than what meets the eye.
Also, you’ll learn what the dealers won’t tell you until you have been entirely swooned by an expensive ride. So let’s get down to the real cost of cars.
Certificate of Entitlement (COE)
COE is a must for every vehicle. It represents and proves your right to own your car and the limited road space for 5 to 10 years. There is no other way around it, despite the cost. So register it in the appropriate vehicle category if you wish to have a car.
As the initial 10-year COE expires, the vehicle owners can renew the COE for another 5 to 10 years. After that, you can either pay the Prevailing Quota Premium or deregister instead.
In addition, COEs are released through three-day competitive bidding. It happens twice every month. Again, you can monitor online through the Open Bidding System.
The Land Transport Authority (LTA) will issue a press release before the bidding exercises. You can check the available quota. Also, look at the time and dates they will happen. Afterwards, submit your bidding through ONE.MONITORING by keying in your reserve price.
How does the bidding work? The COE Open Bid System rises until successful bidders equalled the number of available COEs. After that, the Current COE Price (CCP) will depend on the highest unsuccessful bid plus $1. Moreover, all successful bidders will pay the same CCP. It applies to cars with up to 1,600cc and producing 130bhp of power or less. The COE was at $53,000 as of July 2016.
Auto Insurance
You can choose between basic car insurance, which many thinks can be cheaper. Or apply for comprehensive car insurance that covers several incidences. These are death or injury to other parties, fire, damage to other party’s car, theft and medical costs due to an accident.
Aside from your financial security, many moneylenders prefer giving car loans to those with insurance if accidents or other unforeseen events occur. But then again, you might think this is too expensive. Instead, you could gain 10% to 50% discounts if you accumulated a period without claiming your car insurance. That’s why it is called No-Claim Discount.
If you avail of comprehensive car insurance, you might have to pay $250 a month:
$250 x 120 = $30,000
Total Car Loan Value
You have to consider certain factors when getting a car loan to buy a vehicle. Banks may be your obvious first choice. Yet, consider other options, such as the licensed money lenders. They offer more flexible terms with lower interest rates and less paperwork. So take time to shop around and find the one which fits your needs and wants.
In addition, some loans cover road tax and documentation fees. Some money lenders even approve loans to those with bad credit scores. If banks deny you due to a low credit rating, you can have better luck with licensed moneylenders such as Cash Mart.
We will use Toyota Corolla Altis price as our base data. It is the most popular for Singaporeans based on Annual Vehicle Statistics 2015. The current price for Corolla Altis is $116,888. The down payment is 50%, and you can obtain a five-year car loan at 3% interest. Then, your monthly loan repayment is $1,120.18. At the end of five years, you should have paid $125,655. Diligently paying your loans can increase your credit score.
Road Tax
You can calculate your Road Tax in OneMotoring. Utilise either Vehicle Registration Number or Engine Capacity and Vehicle’s Age. For the Toyota Corolla Altis, the Road tax over a 10-year period is $7,420.
Moreover, Road Tax depends on the engine capacity of the vehicle. So the use of diesel, petrol or electricity to run affects it.
COE Rebate
COE is pricey, and many motorists have been waiting for its price to go down. On the other hand, you can get rebates if you choose to sell your car before it reaches 10 years under your ownership. However, it depends on the years you have used it. Since we are calculating the cost of the car for 10 years, presuming that you will scrap your car after 10 years. Then, the COE has already expired. So, unfortunately, you will not get any rebate.
Additional Registration Fee (ARF) is the tax you pay for a car based on its Open Market Value (OMV). The basis of assessment is from the Singapore Customs. OMV includes the freight costs, insurance, and other charges involved during the car’s delivery to Singapore.
PARF will be based on the de-registration of COE. In addition, it computes the car’s age by the date of its registration. It can be either in its country of origin or in Singapore, whichever is earlier. Imported vehicles registered before September 1, 2007, will not be eligible for the PARF rebate.
If you choose to scrap your car before it hits 10 years, you get back half of your ARF.
10 Useful Reasons Why Singaporeans Take Out Personal Loans
It’s quite fascinating how Singaporeans take out personal loans. We listed the top 10 reasons why they apply for it.
Are you scared of taking out personal loans?
Singaporeans have been raised believing that loans could be bad for their finances. However, you should not forget how useful it can be if used wisely.
Choosing the best personal loan and using it smartly can strengthen your finances. Also, it can perhaps even affect your personal relationships. Have you ever asked yourself:
“What Can I Use a Personal Loan For?”
10 Useful Reasons Why You Must Take Out Personal Loans
Avoid making insurance claims.
Got insurance? Have you read the fine prints before signing up? Some insurance policies give bonuses to those who do not make insurance claims for a while.
In addition, some insurance policies limit the number of claims for a certain period. As a result, some Singaporeans opt to take out personal loans. Their reason is to avoid making a claim if it is just a minor claim.
You will not know if you’ll need to claim something more severe in the future. Also, getting a loan can assure that you can still get the bonus by not making a claim.
Keep your savings while making a huge purchase.
Let’s say you saved up $15,000 for a grand family vacation in Bali. Are you willing to spend this amount all on your getaway?
What if an emergency suddenly arose during the holiday? However, you have already used up most of the money in your savings?
Isn’t it better to just get a loan and pay the amount in instalments? It assures you that you still have your savings? Savings gives you peace of mind during unexpected circumstances. However, spending most of it could put your finances in shaky situations.
Do you often use your credit card to purchase your wedding rings? Why not take out personal loans instead? Why? Because credit cards will absolutely charge you enormous interest rates. Sadly, it can blow off the roof.
One of the features most credit cards have is the cash advance. You can withdraw a certain amount charged on your card’s credit limit.
Instant cash it is! However, it comes with a tricky price. It will charge the money you withdraw with a processing fee and an interest rate. Also, the charged interest is daily. It continues to charge until you finally settle the amount.
You can help your family and friends.
Money matters with relatives and close friends can indeed be tricky. There are times when an emergency may come up, such as a medical condition. If you are a close-knit family, asking for your financial help is typical. Or it is the other way around.
However, there are a lot of stories that come with it. Sometimes, relatives or friends do not pay the amount they borrowed. If this happens to you, you will be with low savings. Also, you have broken relationships.
That is why you should not risk your savings. You will never know when you will have to use it for your emergency. Instead, take out personal loans. In addition, you can easily pay off in instalments. Then, give the funds to your relative or friend. This way, you have saved your savings.
Also, tell your family or friend that you took out the loan for them. It will give them much weight to pay back. Thus, it saves you from the burden of the borrowed money.
You can take out personal loans if you’ve got multiple credit card debts. It aids in covering these. Also, it is beneficial. You do not have to keep track of a couple of due dates.
In addition, a personal loan can pay off your credit cards without having to get another credit card for a balance transfer.
Home renovation
Banks usually offer home renovation loans. But what if you just want to make a minor renovation? Then, you can opt for a personal loan.
Also, what if you have already used up your renovation loan? Then, use a personal loan to finish up the work. It is the best solution to complete your home refurbishing. Plus, it is better than leaving part of your home half-finished.
Some workers still receive late payments. Unfortunately, it happens despite the strict regulation of the Ministry of Manpower.
You would have died of starvation by the time you get your salary. But if you take our personal loans, it bridges the financial gap. Plus, it is manageable. Choose a repayment term that fits until your next paycheck.
Time-sensitive purchases
Let’s say you have been eyeing an item for a long time. Also, you have been trying to save for it. But, it suddenly went on sale. However, your savings is still not enough. So, you can get a personal loan to buy it finally.
Avoid borrowing from family and friends.
Many Singaporeans still value their pride. They are even willing to get a short-term loan rather than asking for help from their families and friends.
Personal loans are useful to pay off bills. Also, it aids in lending to the family and friends. Plus, it helps you to survive until the next payday. Therefore, it is multi-purpose and flexible.
However, you need to be smart when choosing the right personal loan for you. Cash Mart offers quick cash loans with a seven-day guarantee. With decades of experience, Cash Mart understands that our needs have become dynamic. So personal loans should also be more accessible.
Need to know more? Visit CashMart.sg now or call at +65 6397 4111.
What you Need to Know About Buying Car with Auto Loan
Are you eyeing getting your dream vehicle in a few months? Buying a car with an auto loan makes it possible. Learn more about how it works.
Having a car nowadays is becoming a necessity. It comes in handy when running errands for business, taking the kids to school, and going out of town for events. These are easier done with a private vehicle. However, purchasing a car might be exhausting financially and mentally. If you have no idea where to start, it will drain everything you have.
There is a lot of car deal floating on the web. You might see a car that will catch your heart with just a few clicks. Unfortunately, cars don’t come cheap. Before looking for a vehicle, you must consider getting an auto loan first.
When it comes to purchasing a vehicle, many overlook other details that have to be paid. For example, you do not only buy the car itself. But, you have to pay for road tax, documentation fees, and insurance, among others.
No worries. You don’t have to pay for everything in just one sitting. You can pay with instalments. Also, to help you lighten the financial load, get an auto loan.
Licensed money lenders in Singapore usually approve loans faster than banks as they require less paperwork. Also, you can even start your loan application process through the online portal of the lender’s site.
When buying a car with auto loan, make sure that you see the fine print. Some loans hide additional charges that you might not be aware of. Also, see if the loan covers the cost of ownership. Examples are repair costs, maintenance fees, and property taxes. Finally, check if there is a prepayment penalty. If you pay off the loan earlier than you should, you might pay a fine.
Also, loans may include a documentation fee. It is for the processing of ownership titles and other documents.
Know Your Limit When Buying A Car With Auto Loan
After finding the auto loan that best fits you, talk to your trusted Singapore moneylender. Ask about your limit when buying a car with auto loan. Until how much can you spend on a car? Given a budget, this is now the time to roam around the web and car shows or galleries to find your future vehicle.
In addition, stick to your budget. Remember that buying a car is a major financial responsibility. So, if you have a family to feed, you better not go over the budget.
Identify Your Want
Keep in mind what kind of car you really want and need. It is easy to spot a beautiful car. But, choosing the one that you need takes time.
Should you choose a sports car, a wagon, a van, or a family sedan? Why are you buying a car with auto loan in the first place? Is it for your business or your family?
Your choice should be based on the car’s important details rather than its looks and brand. First, look at its mileage and fuel consumption. Choose a vehicle that does not guzzle up all the gas at once. Some cars are gas efficient.
If you plan to buy from a previous owner, check the owner’s eligibility. Also, ensure that the car was not stolen or involved in any criminal case. In addition, assess the previous owner on the car’s conditions. Finally, find out the reason for selling and its usual problems.
As you go over your choices, try to see its maintenance cost. Having a car means you need to shed money for the maintenance as long as you have it. You may want to choose a simple car that you can fix or tinker with yourself to save.
Furthermore, do not forget to ask about its warranty. Also, check the fine prints on the paper. Learn the conditions that might forfeit your warranty. Most importantly, pinpoint how long it would last.
Insurance When Buying Car With Auto Loan
After finally considering the details mentioned above, there is still a lot to think about. First, will you consider having insurance?
Insurance may not affect your auto loan approval. But many lenders prefer that you have one. For example, some money lenders are concerned when you get into an accident. So who would pay the loan?
In addition, insurance will protect you and your car.
Your car’s purchase price rates are different from your auto loan’s rate. Decide whether you will choose a longer period loan or a shorter one.
An extended loan duration might lower the loan’s rate. But, you will pay much more than the original price in the long run.
When buying a car with an auto loan, decide if you will also avail of the extended service contract. It is paying for the additional repair and maintenance offered by your dealer. Some buyers consider this a waste of money. However, if this is your first car and you have the budget, it is better to have it.
