4 Smart Ways to Use a Personal Loan

money-256319_1280Do you want to pay off that debt you have for so long? Looking for other options that will help your financial status?

Debt is something that most of us would prefer not to carry or deal with. However, there are times where it is unavoidable and there are some situations wherein debt is okay. When that happens, you have to make sure you choose the best way to borrow money.

Strategic debt is something that you have thought long and hard, and being in this type of debt will benefit or help your financial situation in the long run. There are several ways to go into debt but it’s important that you choose the type of debt you’re going into. More often than not, a lot of people would choose a credit card since it’s the easiest to get but it can also be easily misused and your financial situation could worsen with the growing debt and high interest rates from a credit card.

Applying for a personal loan from a private lender is as easy as applying for a credit card although you’ll be able to help improve your current situation instead of creating a bad one.

Here are 4 smart ways to use a personal loan:

  1. You can save money with improved interest rates. If you’re having trouble making payments off a high interest loan or credit card, you should consider getting a personal loan. When you qualify for a personal loan that has a lower interest rate than the current credit card, you’ll save more money than you think. When applying for a personal loan, check out the interest rate that they can offer you and if it’s lower than your current rate, get the loan and pay off the debt where you have a higher interest rate. You can save several hundreds of dollars a year, something that you can use to pay that personal loan.
  2. Get out of debt. It is easy to fall in the minimum payment trap of credit cards and you could end up paying something for months or even years later. Personal loans are similar to installment loans which means that they have a fixed repayment period of up to 5 years. No more worries on how much you will pay monthly as you can budget and allot a specific amount for paying off the loan monthly.
  3. Improve credit history. A loan can strategically improve your credit history and build a better credit score in the future. If there comes a time where you will need to apply for more loans or credit, it will be easier for you to do so.
  4. Cover unexpected expenses. If there is a huge medical bill that is not covered by insurance, people tend to drown in debt charging it off of the credit card. It is a wise decision to consider getting a personal loan for such events as payments can be made for a fixed period of time.

Debt doesn’t have to be scary. If you are interested to take out a personal loan and use it strategically, at http://xn--norskeln-g0a.com/smalan/, you can save money and improve your financial situation.

Robots & Automation Will Radically Disrupt These 3 Industries

lawn-mower-414249_1280Robots are one of the biggest areas of opportunity and controversy in the world today. As we move towards an economy based on automation, there are many people worried about the future of their jobs – the Huffington Post recently made the bold claim that 47% of jobs will be automated by 2034. Can you imagine a robot flipping a burger in 10 seconds at a fast food joint, or a robot providing mortgage advice? Some industries are very unlikely to be replaced with automation, but here are three that may well be disrupted with artificial intelligence.


Robots have been used in logistics and distribution for years, but they are recent to the pharmacy industry. In 2001, it was recommended that UK hospitals should gradually switch to automated dispensing systems and since then, they have been shown to reduce errors and speed up the dispensing process. However, automated dispensing systems aren’t often found in mainstream pharmacies due to space limitations. That said, as smaller and more efficient machines are developed, we’re certainly likely to see them operating within high-street pharmacies. There’s no doubt that pharmacists will always needed, but robots bring about an opportunity to add another layer of safety to the process of dispensing medicine.

With advances in online education and Massive Online Open Courses (MOOCs), students are no longer required to physically be in a lecture theatre or classroom. Some major universities, such as Stanford, Yale, and Edinburgh, offer many free courses online that anyone can sign up for and study. Concerns have been expressed that this will end the university campus life, but it has helped to make education open to people across the globe.

In addition to online courses, some schools are making use of robots to engage children in subjects such as engineering, mathematics, and technology. This has been met with a lot of success – teachers report that the robots help make these subjects fun and interesting, and gives children a chance to experiment with some of the newest developments in artificial intelligence.


When you think of a stock trading, you probably think of the bustling and loud scenes of the New York Stock Exchange – but there’s some growing evidence that points to robots having a part too. When it comes to choosing what to invest in, robots have been proven to be the superior choice. Robots can be programmed to choose stocks without bias, and this is a huge advantage in volatile market trading. In addition, no robot currently shows emotion. Emotions often get in the way during investing, so this is another big advantage for automation in this industry.

And the jobs that are unlikely to be affected…

Health professionals such as psychologists and nurses are very unlikely to be replaced by robots. Perhaps it’s obvious, but could you ever see a robot taking on the countless duties that a nurse juggles? Nursing also requires a high level of empathy and relating to others – and robots cannot do this. Although driverless cars are picking up traction, people who drive for a living are unlikely to replaced by robots. Van drivers in particular provide a much-needed personal touch to their jobs and often stop to help other drivers in need.

There’s many more jobs that aren’t at risk, so if you’re curious about the likelihood of your job becoming automated, the BBC recently released an interactive quiz that can tell you! Although robots are playing a role in many industries, we’re still a long way off an entire robotic workforce.

Are You a ‘Functioning Alcoholic’? What to Do About it if You Are

3772950297_ba6f1a5d25_zYou may have heard the terms ‘functioning’ or ‘high functioning’ alcoholic before, and wondered what these mean. These terms are used to talk about people who abuse alcohol, but who have so far managed to have what you might see as a normal or even successful life while continuing to do it. They have jobs, social lives, relationships, hobbies, and handle most of their responsibilities like paying bills, but they drink in a way that is associated with people with drinking problems.

Some of the Behaviors of the Functioning Alcoholic

The functioning alcoholic may deny to themselves or others that they have let their drinking get out of control because their lives are in otherwise good shape – they don’t look like the typical profile of an alcoholic whose life is falling apart and who hurts those around them. They still may, however, do things associated with problem drinking like drinking in the morning, binge drinking, drinking alone, and seeming to need to drink in social situations or when stressed. They may write off their behavior as being a ‘party animal’ and some of their friends may even treat their drinking as a joke, because it seems like they are having fun.

Why is it a Problem to Be a Functioning Alcoholic?

It may sound like there is no real need to worry if you can balance drinking and the other things in your life, but the problem is that functioning alcoholics simply can’t keep it up forever. Usually, drinking becomes more and more important to them and they start to get into bad situations, like missing work or getting into arguments because of drinking, or getting DUIs. Functioning alcoholics also, because their gradual progression from a social drinker to someone with a problem was slow and organic, often believe they are still merely ‘overdoing it a bit’ rather than using alcohol as a crutch. They can also even worry that drinking is part of their personality and their social groups won’t think they are any fun anymore if they cut back.

What to Do if You Suspect You Are a Functioning Alcoholic

If the amount you are drinking is starting to worry you, whether for health or personal reasons, then you should seek help – you don’t need a tragic tale of losing everything to go to rehab and deal with your drinking problem while it is still at this stage and you still have a life to go back to once you get over the need to drink! Checking in for alcohol treatment at a good rehab center now can be the best course of action, as all the while you keep depending on drinking, your problem is getting worse and the time when it’ll begin to actually affect your career, family and quality of life is getting closer.

Some estimates say as many as half of alcoholics are in the functioning category, but the good news is this is the best time to do something about your drinking.

Future-Friendly: Smart and Simple Steps to a Worry Free Retirement

Maintain Good CreditEveryone wants to know that they can retire without financial worry. But, if you’re like most people, you know the future is uncertain. Here are a few ways you can mitigate disaster and start now to ensure a more comfortable tomorrow.

Pay Off Debt

Paying off debt is the single-greatest thing you can do right now to start saving more money. Debt is like having a negative rate of return. The more debt you have, the more money you’re losing.

At the same time, the more debt you pay off, the less money you lose, and the more you’re able to save.

When you don’t have any debt, you’re able to overcome the friction of interest charges and save as much as you need for your future. Start with the highest interest debt first if you want to save the most amount of interest. Start with the highest balance first if you want the opportunity to pay off your first debt quickly (if it’s a small balance) for a quick win.

Keep in mind that if you choose to start with the smallest balance first, you will probably end up paying more interest than if you started with the highest interest debt first. This is true even if the smallest balance is just $500.

Start Saving More

You should be saving at least 10 percent of your income. Most people need to be saving at least 15 percent to make any kind of positive impact for retirement. According to Money Looms, there are many ways to save money, including 401(k) plans, IRAs, and even a simple savings account. The important thing is to start saving. You can always optimize later.

Most people who are serious about saving money opt for tax-sheltered retirement accounts, because they reduce the amount of taxes you pay on your savings while you’re building up a retirement nest egg.

Options like 401(k) plans are complex trust accounts, however, so you should familiarize yourself with the many rules and regulations surrounding them. Many people invest in these types of accounts without realizing that getting the money out before age 591/2 is nearly impossible unless your plan administrator allows plan loans. Even then, the payback provisions tend to be rather strict and penalties for failing to repay a 401(k) loan are harsh.

Don’t Rely On Social Security

Many people are concerned that Social Security won’t be there for them when they retire. Those fears aren’t unfounded either. Social Security was never meant to be the sole source of income for retirees. It was designed to replace about 30 to 40 percent of your preretirement income.

Many people today rely on it for at least 40 percent of their income, sometimes much more.

Today, the Social Security system pays out more in benefits than it collects through payroll taxes. According to Pew Research, however, credited interest on all of the Treasuries is more than enough to cover the shortfall, but things change in 2020, when the SSA will have to cash in its Treasuries to continue paying benefits.

Downsize Your Life

One of the best ways to reduce expenses in your life is to minimize discretionary spending and get rid of anything you don’t really need. Downsizing is something most retirees understand – it’s when they sell their home, and many of their belongings, to move into a smaller place with less upkeep.

But, you can take advantage of that idea now, eliminating the burden of “upkeep” on your lifestyle. Get rid of a lot of your material possessions, and your cost of living will go way down. You’ll probably also be happier for it.

Allen Foster is founder and primary author at Money Looms. Through Money Looms and his writing, Allen wishes to pass on simplified money insights that people can put to prudent use, to make the most of money that comes into their lives.