Do you have little that the holidays started and you are already wondering what you will do to solve the expenses of going back to school?

Personal Payday Loan

Personal payday loans can become a great option at a time of low liquidity to get around one of the most expensive times for parents: back to school.

Registration, payment of tuition fees, purchase of school supplies, stationery and uniforms, represent an expense that if you do not have contemplated within your annual planning, they can certainly take you off guard and make, if you do not have how to cover them, resort to options such as the effort.

Therefore, now that you are a few weeks after returning to school, it is necessary that you make accounts and evaluate if it will reach you with what you can save from here so that you have to make the first payments related to this moment.

If your answer is no, put the batteries in now and request a payday loan. You are in very good time to carry out this procedure before the institution you choose and not leave it so that at the last moment you do not know where you are going to get the money.

What do you need to access a payday loan for back to school?

1. Payment capacity

Although at this moment the situation pressures you to be able to cover all the expenses related to the return to classes, you do have to be aware that you will have to pay in the next months the amount you receive today and so you have to prove it to the entity to the one that you enter your request.

2. Budget

Prepare a new budget to see how much you could spend each month to pay for this new loan and based on that enter your application.

3. Only what you need

Do not enter a request for 20 thousand pesos even if your ability to pay allows you to cover that amount in the coming months. It is preferable that you order only what you require.

3. Make accounts

Before ordering a certain amount, quote how much you get the supplies, the uniforms, what you can reuse from the previous cycle. You do not need to buy everything new for back to school, do it to the best of your ability.

4. Teach your children to value

Given that all the expenses of returning to school mean a great effort for parents, it is important that children learn to value it and are aware of what it means for the family to fulfill these commitments.

It is useless to ask for a payday loan, stress yourself to pay it and buy a new backpack for your child so that after a week he already brings it all broken or has even lost it.

Participating everyone in decisions like this and helping to make the most of things will be something that will help them keep their finances healthy.

If you require a loan, you should know that banks are no longer the only option; We tell you three ways in which you can access personal payday loans online.

You have been a good payer all your life, but today that you have decided to start a new project and need money, you consider that the conditions offered by traditional financial institutions are not the best. What would you think of a formal credit, but via the internet? It is important to be aware that the fact that it is an online loan does not mean that it will require less requirements.

Ways to access personal payday loans online:

Loans between people

– Lenders: some of the entities that grant loans on the Internet have a base of lenders; others are creating it. In the case of King Lend, interested grantors must register on the page, from this point the lender decides how much to lend.

-Who decides ?: On a platform where people finance people, it is the lenders who have the last word on whether they fund a loan or not.

For example, in the King Lend, lenders can interact with approved applications, analyze the description of each application and choose who to lend.

– Rate and term: in the case of the interest rate and the terms, in some occasions they can be fixed by the entity, while in others it is the lenders themselves who decide it.

On the King Lend platform, the rate is established through an algorithm that reviews several factors of the applicant, while the term is chosen by the applicant between 12, 24 and 36 months.

-Commission: there are different modalities for the collection of commissions according to the entity where the loan is requested, the important thing is to know the exact amount. On platforms like King Lend, the collection of the commission for opening is made once the application was approved and funded; In case the application was not approved or did not get the total funds, there is no charge.

Short term payday loans

There are other types of personal payday loans online: for example, those that are short term, where applicants must cover the financing between 30 and 90 days.

In this type of platforms, the amounts are small, since they do not exceed five thousand pesos, while the interest rate is determined in each case. Interest rates from 0.24 to 1.3 percent are used daily.

By reputation

There are also reputational loans; Its main characteristic is that they base part of their decision on the reputation generated in social networks.

Companies that use these models, in addition to requesting mandatory requirements such as credit history and proof of income, complement their evaluation algorithms to grant or not a credit through the user’s reputation in social networks, corroborating the applicant’s information with the users that make up your trusted network. Of all the social networks, the information on Facebook is the most helpful in determining whether the loan is granted or not.

Debt assistance is paying increasing attention to the behavior of people in debt. The realization that only settling debts is not sufficient is getting bigger. Nevertheless, prevention and debt management still focus primarily on learning skills and knowledge.

Creating awareness about one’s own (‘bad’) behavior does get an increasingly prominent role, but the activation of new, healthy behavior and motivation is receiving too little attention. While, for example, a lot of information from the behavioral sciences can be obtained. Reason for Bank to do research with Delta Lloyd Foundation into the effectiveness of behavioral interventions in debt counseling.

Marie-Louise Voors of Delta Lloyd Foundation : ‘Many projects we support aim to change the financial behavior of participants. The results of this research are therefore interesting for our program From debts to opportunities. But also for the national creditors ‘coalition’.

Aim: to investigate which behavioral interventions are effective

Bank has started an investigation with the help of Delta Lloyd Foundation , which examines which behavioral interventions are most effective to help and keep people out of debt. In recent years, we have seen a shift within the field of debt counseling from purely rational thinking to more space for behavior and the processes that play a role in this. The realization that only the settlement of debts is not sufficient and that the communication must be tailored individually, is increasing. Nevertheless, in debt counseling, and especially on the prevention side, we see that the prevention and tackling of financial problems mainly focuses on learning skills and knowledge. This is, of course, necessary, but the activation of new healthy behavior and motivation now receive too little attention.

That is why this research focuses on motivating and activating financially sound behavior in people. Insights from the behavioral sciences provide many starting points for this. We investigate whether and how insights from the behavioral sciences can be used in (existing) interventions to increase effectiveness and increase the reach.

Approach: literature study and testing of interventions

The first step of the research was a literature study into which interventions are the most promising in theory. At the moment we are testing two interventions in practice, so that eventually it becomes clear on the basis of evidence-based research how we can motivate people more and what the effect is on financial behavior.

The interventions that are examined for effectiveness are:

• Meeting appointments with memories
  Due to everyday issues, agreements can be forgotten and goals lost. Especially with people who experience a shortage of money. The memories ensure that appointments are brought back to the attention and are therefore less likely to be forgotten.
• With small steps, more range
  By dividing larger tasks into smaller steps and recording the progress, people remain motivated and it becomes easier to maintain good behavior. The focus is not only on what has not yet been achieved, but especially on what has been achieved so far.

At Kredietbank West-Brabant and the Groningen Kredietbank, it is tested whether sending reminders has an effect on attendance at appointments and whether it increases the effectiveness of the budget course. The municipality of Tilburg and Doras (community service Amsterdam-Noord) are investigating whether people’s motivation is increased if progress is charted by means of a checklist. The municipality of Tilburg is examining whether working with a checklist increases the effectiveness of the budget course and increases the speed with which someone goes through a debt counseling process. In addition to the parties that have already started, the municipality of Almere has also joined the research. Here we are making an inventory of which intervention best suits their method.

Expected result: handles for policy

The project will be fully completed by the end of 2017. With the outcomes we expect to have knowledge in hand that policy makers can use to better guide and motivate people in debt to financially self-reliant behavior.

Bank researcher Tamara Madern about her PhD research: ‘A combination of different behaviors increases the chance of financial problems. For these behaviors and the causes of financial problems, too little attention is paid to preventing and tackling these problems. ‘

‘In this way, keeping your administration in order does not have to have confidence that you are able to put your administration in order. You have to do something with that. Thinking that you can not do something makes you do not, regardless of whether you should be able to do that objectively. ‘

PhD research into sound financial behavior

Madern obtained her doctorate at Leiden University on Thursday 17 September with her research into healthy financial behavior, and what encourages or hinders that behavior. Madern’s thesis is the first major study in the Netherlands on financial behavior of people with debts.

For Bank, this research provides an important insight into the underlying causes of financial problems, which must be taken into account in the information and interventions. The study shows the complexity of the debt situation and shows that support and customization do not yet sufficiently respond to this.

According to Madern, more cooperation between different (including commercial) parties is needed. An individual party can not solve the problem. This applies to both creditors and municipalities.

Guide to the field

Madern has also written a handbook for professionals in which she gives guidelines on how professionals can promote healthy financial behavior. Using the Bank competences , Madern shows how the results from her research can be applied in professional practice. This makes it a valuable tool for debt counselors, budget coaches and other professionals who work with people with financial problems.

Do you ever think that a detainee can lose much more than ‘only’ his freedom? I did not, until I could train 60 case managers and trainers from the Custodial Institutions Service (DJI) about the field of finance and debt.

It is estimated that 70 to 80% of the detainees have to contend with debts. Often these financial problems are already present for imprisonment and sometimes these problems are the reason for committing criminal offenses. And if someone had no debts before he or she ended up in detention, then chances are that they will arise.

Problems accumulate

When you are stuck, you have no income. Sometimes the employer decides to resign and the housing corporation can decide to vacate your home. Problems accumulate. From the prison you can only prevent the debts from worsening to a limited extent. After all, without income it is also difficult to redeem.

Sixty DJI employees, who are enormously involved with the target group for whom they work, take this issue with them on a daily basis. They wanted to be trained on budgeting and debt counseling in the world of detainees and the prison system.

Conditions for reintegration

The DJI trainers because they motivate inmates during their trainings ‘Choose change’ and ‘My money well arranged’ of the Nibud inmates with their debts to get started. They often hear harrowing stories. And the case managers because they support the detainees in putting the five basic conditions for reintegration into society in order:

1. work and Income
2. housing
3. care
4. debt
5. identification

Budgeting and debt counseling for detainees

What help request does a detainee have and how do you adjust your support to this? How do you get the administration in order in detention? What can a detainee already prepare for debt counseling? Is he eligible? A person in detention often has a very limited budget available, but can, for example, make a payment arrangement with the CJIB to ensure that the debts do not increase further.

There were all kinds of questions. And fortunately also many answers. For example, I was able to give a lot of insight into the (im) possibilities of debt counseling for detainees and what they themselves can do in preparation for that area.

Customization for all kinds of groups

Nibud can mean a lot for this kind of special groups. For example, the trainers within the DJI use an adapted course Dealing with money (‘My money well arranged’), in which they learn to save prisoners, for example by paying attention to the offers in the prison shop or by cooking together.

The case managers can work with the detainees with the Personal Budget Advice . By filling this in, a detainee gets an insight into the costs if he goes to live independently after detention.

Money worries have a big impact on people. Employees with money worries suffer from stress and are more susceptible to fraud and theft.

Moreover, these employees are more often ill and the productivity is reduced. What costs does that entail for you as an employer?

Start the calculation

Insight into costs: what now?

You now have an indication of the costs of employees with money problems in your organization. You can now deduct this amount against the investment in preventing or solving money problems.

If there are any debts, you can help your employees solve these problems. Financial coaching, time that you release, give correct information, or support in a different way.

By providing information, training or offering tools you can prevent financial problems among employees.

Bank will help you further

Bank offers a wide range of products, advice, training and services, especially for employers. This way Bank can support you in prevention, but also in solving financial problems in the workplace. With tailor-made advice, this service is precisely tailored to the situation within your organization.

A number of services highlighted:

• Do you have questions about financial problems with your employees? Or about payroll? Call or email the free Helpdesk for employers .
• Do you want to help employees with financial problems more intensively? That is possible with the Bank coach for employers . The Bank coach is more than a budget coach. The Bank coach is your sparring partner and assists employees in improving or stabilizing their financial situation. If necessary, the Bank coach prepares the employee involved for debt counseling.
• HR workshop Dealing with staff with debts .
• You can join your company or organization at Startpunt Geldzaken , an initiative of Bank and partners. You will then have access to various money plans with which your employees themselves can bring their finances into balance and keep them. Your employees can complete the plans anonymously, step by step and each at their own pace.

But Bank does more for employers. For a complete overview of the range of help in preventing and solving problems, download the brochure:

The sooner money problems are tackled, the easier they are to solve. But there is no golden rule for success. It is therefore important to develop a vision and policy for your organization. What should you take into account?

Do you often have to deal with debts in your organization or municipality, then it is good to pay attention to it within your policy and to develop a vision as an organization. But even if you want to start a prevention project once, it is good to determine what you want to achieve and what the requirements are.

Determine vision

The vision is important, it will help you shape your approach soon: what do you want to do? First determine what you want to achieve. In order to be able to do that, it is good to visualize what problems are involved and how large the scale of the problem is.

In addition, you determine which you want to get started and with which you do not. For example, you can choose not to actively inform, but only clients who approach you by referring or supporting you. Another option is to work on the awareness of the personal pitfalls and problems of clients. Also important is the distinction between primary, secondary and tertiary prevention.

Prevent better than cure

More and more households are dealing with financial problems. This leads to personal difficulties and high social costs. It is therefore important to identify and solve (problematic) debt situations as early as possible, but better still: to prevent them. That is the core of prevention and the starting point of the Debt Prevention Guide, intended for municipalities and other debt counseling organizations to set up their policies.

Tip : The Debt Prevention Guide has been developed for municipalities and other debt counseling organizations. This document offers a practical step-by-step plan with tools for developing or setting up debt prevention.

Policy

Not only the size and the nature of the problems are important, also the groups in which the problems are most urgent or present. It is often expensive and inefficient to want to reach everyone. By analyzing who and when problems occur, you can work more effectively. For a housing corporation, it may be worthwhile to provide extra information in certain districts, or to opt for specific target groups.

Determine the target group

Determining a target group can be difficult. Bank can help you with this. The following risk groups emerge from the national data:

• Young people with a low level of education
• Single parents
• Social minimums
• Unemployed
• Freelancers
• Addicts or people with mental health problems

But homeowners and the elderly are also increasingly in trouble.

Life events

Life events are also a way to apply structure. Research shows that a life event is a trigger of financial problems. People are not paying enough attention to the financial changes. If they lose control of their money, the chances are that financial problems will arise. Information and guidance at a life event can prevent a lot of misery. For example, think of:

• Divorce
• Job loss
• Going to live on yourself
• Have children
• Death partner
• Move

Implementation of policy

On the basis of the choice of target group, form of prevention and the goal you pursue, you can give substance to your policy and strategic choices. So it is much easier to choose the right tool and to get started effectively.

Also think about your own role: to what extent can and do you want to guide you in solving problems? What other organizations are already doing something about tackling and solving financial problems? Creating a social map helps you to become familiar with the possibilities in your environment.

Early identification of financial problems among employees or clients can prevent aggravation. What can you look for as a professional and how can you offer help?

Early recognition of financial problems is important. It often makes the approach easier and the impact on the debtor remains limited. The social damage is also smaller if the debts can be settled at an early stage.

Signals

We often only notice it when someone is already in debt and, for example, are starting to use house removal or payroll. But there are often signs that have been noticed before. For example, think of:

• payment arrears
• often late to pay
• do not respond to mail
• absence
• stress
• many calling creditors

Debts almost never come alone. Often there is multi-issue. If you know that there are other problems, ask for someone’s financial situation. If someone does not know this or if it turns out that he has lost control, that is the biggest predictor of financial problems.

Make it negotiable

Discussing financial problems is often difficult. Attention and policy are required. A first step is to discuss financial problems within your organization and your board: ‘How do we deal with it?’

The second step is: ‘How do we bring the theme to the attention?’. If financial problems are more likely to ‘drop by’ (for example, as a subject in your newsletter), the threshold for talking about it will be lower.

• The Bank-Geldkrant, edition De Wolden is distributed door-to-door, as part of the ‘Grip on your cut’ campaign in the municipality of Drenthe.

Preventing problems: grip on money

What can you do to help a customer with starting financial problems get things back in hand?

• Grip on money prevents financial problems. Bank has developed a step-by-step plan with which a consumer can get and keep a grip on money. Assign your clients / employees to these four steps.
• One of the steps is to apply for income support schemes, for example via rekenuwrecht.nl . Many people have money left, while they have trouble surviving. There is also a lot of money left at the tax authorities. Declarations can still be made up to 5 years. A good tip for your clients!
• With the repayment plan on zelfjeschuldenregelen.nl , people can work out a step-by-step solution to their starting debts.
• Offer guidance on major events such as a move. Tell your client where he or she can find help. In this way they can get a grip on their money in the new situation as quickly as possible.
• Bank also offers materials and courses to support your client. Read more: For your client .
• Guide: ‘Promoting financially sound behavior’. This free guide provides practical recommendations to help people with debt to promote their financial behavior.

Practice story 2016

How do you notice an employee that there are money problems? How many people with a job register with debt counseling? And what can you do as an employer if you have staff with debts?

Question: Cause and scope of money problems on the work floor

Employees with money problems occur almost everywhere, including the car and truck dealers who were present at the P & O Platform at BOVAG. This phenomenon was known to everyone, but the size of the debt problems in the Netherlands surprised the personnel consultants.

The causes behind money problems have changed in recent years and these were discussed during the presentation. Since the crisis in 2008, more people with a job have been in trouble.

How do you notice that an employee has money problems? The clearest signal is to request an advance or loan from the employer. And of course, the wage orders. The BOVAG companies also indicated that there are more absenteeism days, as a result of which the productivity decreases. Debts affect the behavior of the employee and this also has an effect on work at work.

Approach: information, dilemmas and tips for employers

During the presentation, Nibud provided insight into the costs that an employee faces when employees are in debt. These costs do not consist solely of the processing of wage bills; here is much more involved, as it turned out. Although the cost items were recognized, the sum added to the attendees. All the more reason to do something about this. But what?

The dilemmas that often play with employers were discussed in the discussion. We discussed, among other things, the responsibility of the employer, the role of the employee and whether debts may be a basis for dismissal.

Result: sharing new insights and knowledge

Finally, practical tips and good examples were shared. Here it emerged that one of the most difficult things is to motivate the employee to change. As a last resort some companies use a budget coach for their employee.

As an employer, you can offer just that helping hand, so that the employee can regain control over his situation. And that benefits the company again!