Monthly Archives: March 2022

How Can You Spend Less Money Every Month?

Saving up for something or simply practicing better financial management takes good organizational skills. When you plan ahead and stay organized about the way that you manage your money, you can probably find multiple ways to save money every month. Here are some things that you can do to control your spending.

Shop for Services Competitively

Before entering into a contract for services that you pay for monthly, you have to do some due diligence to make sure that you get a good value. Prices on basic service needs such as home maintenance, internet, or car insurance can vary greatly between companies and locations. Look for companies that have extensive experience serving customers in your area. If you need auto insurance Los Angeles CA, compare options from multiple carriers.

Don’t Waste Money on Interest

The average person has several thousand dollars of credit card debt at any given time. If you’re carrying a big balance month after month, it’s ultimately going to cost you a lot of money on interest. Make it a point to keep the amount that you add onto any existing balances down to a minimum. Try to pay off credit card debt as soon as reasonably possible, and prioritize which balances you should pay off first based on the amount of each card’s interest rate rather than the balance amounts.

Use a Budgeting App

Spending on a budget is more than just a conceptual aspiration. You have to track how much you’re spending on each type of regular purchase that you make in order to improve your habits. A budgeting app is a great tool to monitor how much you spend and compare it to how much you planned to spend.

Spending less every month will make you better able to afford the things that you really need. Also, you’ll be able to put away a good amount towards savings and attain stronger financial security.  

Hard Money Loan Myths Debunked

If you ask a hard money lender about the craziest myths and rumors they’ve ever heard about their line of work, you will quickly learn that we have heard it all. When it comes to hard money loans, it can be hard to separate fact from fiction.

That’s why our team of lending experts at Wilshire Quinn Capital is here to clear the air. As a leader in capital markets, we are here to shed some light on myths you might have heard about hard money loans so you can invest your money wisely going forward.

Here are the most common hard money loan myths debunked:

Myth: Hard Money Loans Are High-Risk

Some borrowers avoid hard money loans because they feel they are risky. However, this is simply not true. Most hard money lenders use their own money, therefore their own best interest is sacrificed when they approve a high-risk loan.

At Wilshire Quinn, our expert team will ensure the market is right to support the loan. Our loans will not merely look great on paper, but they will have sufficient market evidence to support them.

Myth: You Can Only Get Hard Money Loans If You’re Desperate

Because hard money loans are characteristically more lenient than conventional lenders, some people believe they are reserved for the desperate. Once again, this assumption is incorrect.

Most people who obtain hard money loans prefer them for their prompt closing times, variety, and flexible terms. For those reasons, hard money loans are desirable to many types of investors.

Myth: Hard Money Loans Are More Expensive

Hard money loans indeed appear more expensive upfront. However, because they offer shorter repayment periods and prepayment penalty times, borrowers can pay off their loans in a shorter amount of time (with less interest).

Additionally, hard money loans allow borrowers to receive a higher percentage of their project’s cause, which allows them to invest less of their own money. For these reasons, hard money loans often end up being more affordable in the long run.

Myth: Hard Money Lenders Want To Take Your Property

As industry leaders, trust us when we say that hard money lenders do not want to take your property. Most qualified hard money lenders—even the small ones—are well-established and reputable.

However, like any industry, there are going to be right and wrong lenders for you. To protect your own best interest, we recommend that you do your homework, fully understand your loan’s terms, maintain a solid exit strategy, and ensure that you’re capable of paying off your loan.

Top Hard Money Lenders in Southern California

After learning more about hard money loan myths debunked, we hope that you can knowledgeably and confidently pursue your investment goals. If you’re looking to invest in commercial or residential real estate in California, working with a hard money lender can provide you with rapid and reliable funding.

Our successful track record here at Wilshire Quinn proves that we are the premier bridge lender in Southern California. If you’re looking to purchase or refinance an investment property, contact our team today to speak with an expert.

 

3 Most Popular Types Of Insurance

Insurance is one of the most prevalent financial concepts of the 20th century, and yet many people know little to no information about it. Insurance is the practice of ensuring financial assistance in the case of an accident that causes the destruction or damage to an asset. There are many different types of insurance. Here are the three most relevant types of insurance that you should be aware of.

1. Car Insurance

The most popular type of insurance is car insurance. Automotive insurance is celebrated around the world as an affluent industry because it coincided with the boom in the auto industry. Auto insurance is so profitable for businesses because it is mandated by the transportation bureau of the federal government. There are many different types of auto insurance that range from basic and minimal coverage to full and extensive coverage that will protect your vehicle from accidents or internal damage. Auto insurance is one of the smartest investments you as a consumer can make. However, be wary of bad deals when you are shopping for auto insurance, as there are many companies that will take advantage of unsuspecting customers.

2. Business Insurance

Another popular type of insurance is business insurance Newark DE. Everyone works for some sort of business, and every business needs insurance to protect themselves from disaster. Business insurance usually covers damages to facilities, equipment, vehicles, and legal matters as well. If you are a business owner, then investing in business insurance is essential to fostering a successful environment at your place of work, and doing so could save you thousands if something were to ever happen to your business. Every industry has different insurance requirements, so talk to an insurance provider to make sure your business is properly covered.

3. Health Insurance

The third most popular type of insurance is health insurance, which can give you the peace of mind that comes from knowing you’ll have access to medical professionals no matter what ailments you have. Health insurance can also give you access to significant savings should you have to be hospitalized or seek regular care, all of which can become a serious financial burden without health insurance.

These are the three most common types of healthcare services in the United States today. By being well versed in the intricacies of this topic, you can make more informed decisions as a consumer and ensure you get the protection you deserve.