Getting a loan is a complicated process, and with a bad credit score, the process becomes even more stressful. However, there are some ways to get a loan despite a bad credit score. There are some tips one can follow to improve one’s chances of approval or reach out to some online lenders who offer loans to people with bad credit scores. That said, here are three ways individuals with bad credit scores can obtain money. 1. Add a co-signer In some cases, having a co-signer with a better credit score can be beneficial to obtaining a loan. This means that they take equal responsibility for paying the loan back, which makes it easy to get a loan even with a bad score, as together, one’s credit score improves. It is always advised to make a repayment plan with the co-signer beforehand and ensure clear communication with this agreement. 2. Check with community credit unions Before heading to other financial institutes to check for loans on bad credit scores, one must first approach known community credit and bank unions. If the bank knows a person and their spending habits, they may offer better loan terms than other lenders despite the low credit score.

Annuities are a popular investment option that helps one get a steady stream of income during retirement. It is essentially a contract with an insurer in which one pays premiums and, in return, gets a guaranteed stream of payments in retirement. There are several annuity options, and choosing the right one can help one meet their long-term financial goals with ease. Also, one should avoid the following common mistakes associated with annuities: 1. Overlooking future tax implications Annuities are not taxed during the accumulation period. However, these benefits are only available until one withdraws money from their annuity plans. So later, the retirement income earned in the form of annuities will be taxed. This can be an additional monetary burden at the time. To avoid this issue, one must not let all their retirement income be taxable. They must set aside certain percentages of their income and direct them to non-tax deferred retirement investment options. 2. Investing too much While an annuity is a good investment option for retirement, it also tends to be rigid and difficult to get out of after a certain point. One can even end up paying penalties for several years after purchase if they miss a payment or two in the interim.

Choosing a life insurance policy can be a slightly different experience for seniors because there are more risks involved. Age and health play a significant role in determining premiums; sometimes, these can be high. Choosing the best life insurance policy for seniors doesn’t have to be a harrowing task or one that puts a strain on the finances. Check out some best practices to make the right choice. 1. Assess needs and budget Buying life insurance shouldn’t be a hasty decision, and one should assess all factors before picking one. Budget and needs should be the first consideration. Evaluate all outstanding debts, future payments, and one’s current financial situation before choosing life insurance. One can factor in funeral costs, medical bills, and help for surviving spouses or dependents before determining the coverage amount and policy type. 2. Understand the types of life insurance There are a few types of life insurance that seniors can choose from, and some of them are as follows: Term Life Insurance This type of life insurance provides coverage to the buyer for a specific period. If the insured passes away during the term, beneficiaries receive the death benefit. While term life insurance is typically more affordable, for seniors, it could be the reverse.

In recent years, buy now, pay later (BNPL) apps have become increasingly popular. These apps are convenient for users because they allow them to divide their purchases into equal, small payments. At times, with no interest and late fees. Users can find small and long-term financing options for various purchases. Some apps also feature loyalty programs that can be coupled with rewards, in-app purchases, and discounts to help save on purchases. Here are 5 apps one can check out: Affirm Available on both Apple and Android, Affirm is one of the most reliable BNPL apps for phones. Users can access various financing options covering a wide range of purchases. The app offers simple payment options for both small as well as big purchases. When buying via Affirm, users also get an idea about their monthly payable amount against the purchase. With its allowance for high-ticket items, Affirm is equivalent to loans that can be repaid within a set period. The platform integrates with numerous e-commerce platforms and usually has a no-late fee clause. PayPal PayPal is a popular payment gateway available globally. It has recently entered the short-term repayments market. The Pay in 4 by PayPal is a service available to the citizens of the country that distributes their purchases into 4 equal repayment amounts.

With the growth of mobile technology, phones have become an indispensable part of people’s lives today. This, however, has also resulted in climbing rates, making phones an increasingly expensive purchase. To make phone ownership easier for customers, several companies offer ‘Buy Now Pay Later’ (BNPL) personal loans. These plans divide the payments into smaller chunks and generally have no associated interest or fees. Here are some of the top BNPL providers to finance phone purchases. Affirm Affirm has many different BNPL plans that allow customers to choose between a few payment schedules. One of the most popular is the pay-in-four, where the purchase is divided into four equal installments paid in regular, two-week intervals. Depending on the purchase and retailer, buyers can also opt for 3-, 6-, and 12-month plans. While the pay-in-four plan charges no interest, the monthly plans may have an interest rate of anywhere between 0% to 36%. Afterpay Afterpay also has similar plans. When shopping from their partnered retailers, customers can purchase their phones with a BNPL plan on a pay-in-four or a monthly basis. The pay-in-four plan has no associated fees or interest charges. However, the monthly plans can only be used at select retailers for purchases over $400 and may invite an interest of 0% to 35.99% APR.

Nearly all payroll mistakes are caused by incorrect data and poor communication. While these mistakes may seem trivial and correctable, they can have serious legal consequences for employers. In some instances, businesses may also have to shell out money for fines and penalties, affecting their profits. Below are the top four payroll mistakes to avoid. One can easily avoid these errors by being more careful and taking specific preventive measures. Misclassifying employees and contractors Full-time employees must never be mixed up with contracted, freelance individuals. Errors like these can cause payments to be docked incorrectly. Because of that, employers may have to look through old payment records to adjust employee salaries. More often than not, discrepancies in salary result in dissent among employees and, subsequently, staff shrinkage. According to the Fair Labor Standards Act (FLSA), full-time employees who work over 40 hours a week must receive overtime pay. Any errors in employee classification can result in FLSA-related fines for businesses. Maintaining accurate records of an employee’s status is the easiest way to avoid trouble. Employers must also check and verify their records periodically. Making calculation mistakes Calculation mistakes have a cascading effect on both employees and employers. A simple calculation error can cause an employee’s income to decrease steadily if not corrected in the first instance.

Accounting software helps one track how money moves in and out of the small business. Using the tool will help keep detailed financial records so that one can better deal with tax season. However, developers can make multiple mistakes when designing accounting software, which could carry various business risks and even loss of profit. Learning about these five failures in accounting software may help one better deal with such complications. Using outdated software Some businesses may use outdated accounting software because it may save them costs to upgrade to the latest versions. However, this could lead to delays in reporting, a higher volume of financial errors, and inaccurate data analysis. Older software may also lack critical features, including automated data entry, financial planning, and reconciliation. This will require more manual work, which will take up more energy and time. One should always use the latest version of accounting software for best results. If a developer fails to offer timely updates, one ought to consider switching to a more reliable option. No integration abilities While accounting software may come with the latest features, it might only be efficient if it can integrate other software utilized by the business. One might need to manually enter the data into the system, which may result in inconsistencies and errors.

At a time when property prices are skyrocketing, real estate investment is a lucrative decision because the value of a well-invested property is most likely to appreciate. There is a rising trend of people purchasing properties not just to stay there but as a long-term plan to gain a steady income. However, buying property is a major decision, so one needs to beware of certain common mistakes when investing in real estate: Not having a definite investment goal Like any other investment, one also needs to have a definite goal when investing in real estate. The objective should be concrete, such as receiving a specific amount of fixed income by leasing out the property, letting it out as a vacation home, staying in the house, and letting out a part of it as a paying guest accommodation, etc. One should be clear about the purpose of the property once it is bought. Choosing property at the wrong location Where one’s property should be located largely depends on the purpose of buying it. For example, if one plans to rent it out, buying a house in a prime or emerging area in the city makes sense, which can provide one with sufficient rental income.