Category Archives: Finance

How Microlending is Useful for Starting Businesses

There is a lot of buzz going around the term “microlending.” It is not clear what micro financing is and who should exactly benefit from this program?

In simple terms, microlending is a form of funding that lends small amounts of cash to poor hatchling entrepreneurs to promote self-reliance and end poverty. The money entrepreneurs receive through a micro funding program forms the start-up capital for their businesses. As time passes however, merchants are expected to grow and pay back the micro loans. However, the primary objective of the loan is to boost the retailer’s income as well as that of the staff they hire.

The idea of lending finances to small businesses has been in use for thousands of years, but the most recent micro financing dates back to 1983 in the Grameen Bank in Bangladesh. Muhammad Yunus, the founder of the bank, used his money to lend small loans to poor entrepreneurs in a small town called Jobra at low-interest rates. The concept quickly spread worldwide and is now adopted by many of institutions all through the world. In 2006, Muhammad Yunus was awarded the Nobel Peace Prize for his great work with assisting the less fortunate through micro lending.

Nowadays, microlending has grown into a lucrative business for most profit and non-profit companies who offer micro-financing to businesses worldwide, as well as recently the United States. Some micro-financing companies like Kiva, use loans from private persons. Kiva allows anyone to loan funds in increments of $25 to merchants from their database.  For individual lenders, this provider is proving beneficial due to their rates of repayment; however, individual lenders must realize that they risk not getting paid back. Most Kiva lenders see micro financing as a generous act and don’t care to be repaid.

Although it seems like lenders prefer loaning cash to women, plenty of men still benefit from microloans courtesy of service providers like FAM. Women are well placed to set up smaller businesses and also, they look more trustworthy than men, in the eyes of the lenders, regarding loan repayments. For both male and females, it is wise to consider microloan opportunities you are eligible to if you can prove you have a great business suggestion and can pay back the loan once your business picks up.

How Microlending Works

Initially, microlending was created as a savory option to lenders who were notorious for exploiting borrowers. Small loans are offered at affordable fees to allow borrowers gain easy access. The universal average interest and fee rate is predictable at 37%, with rates shooting in some areas as high as 70%. This high-interest rate is caused by the high transaction cost of traditional micro financing processes relative to the amount of cash the lenders offer.

Most folks may argue that the high fees that come with micro-funding overpower its purpose as a tool for fighting poverty. The indisputable reality is that borrowers must make enough money to sort the principal plus the interests on the loan to ensure that borrowing the loan doesn’t make them poorer than they were earlier.

 

Actually that you don not need emergency fund at all

Along with dynamic your oil each three,000 miles and checking your child’s trick or treat bag for weaponized apples, the common recommendation to form associate degree emergency fund is too prudent. All you wish is associate degree objective understanding of risk to comprehend that there ar much better places to place your cash thanassociate degree inert account that can’t enrich you.

The most recognizable personal finance mavens are almost unanimous in their advocacy of the emergency fund as a vital part of any common-sense financial plan.

Their recommendations differ only on size  three months six months perhaps eight months worth of living expenses are enough to accommodate whatever misfortune might befall you. But to what end? And do people really listen, or are these just empty dicta written to take up space

Don’t match it

First of all, exactly how much money are we talking about here?

Looking at the most recent statistics, per capita income in the United States was $55,836.80 in 2015 according to the World Bank, and the personal savings rate of disposable income was 5.3% in August, 2016, according to the Bureau of Economic Analysis.

Assuming an effective tax rate of 20%, and using the conservative recommendation to sock away eight months’ worth of living expenses, that means it’d take about $30,000 to create a sufficiently stocked emergency fund. Even using the three months’ figure, you’d still need $11,000 for an emergency fund that passes the muster of convention. If those numbers sound high, or even if they don’t, understand that in the U.S. the average household credit card debt was $16,048 in March, 2016. Americans are also carrying a cumulative $1.2 trillion in student loan debt, which dwarfs the credit card debt on a per borrower basis.

In other words, the math doesn’t come close to working out on emergency funds. If the experts are going to issue a blanket recommendation to millions of people that they should all create a buffer to tie them over in unforeseen circumstances, it would make far more sense to say, “Instead of amassing an account that pays you 0%, or a few basis points above that, maybe you should focus on closing out an account or two that’s costing you 15%.”

Clear Debt First

It’s easy to insist that emergency funds are crucial for everyone, while ignoring just what position the average household’s finances are in. If you’re carrying credit card debt, student loan debt, or both, then building cash reserves for the purpose of anything other than paying down those debts should be the last thing on your mind. Of course, the more economically you live and the more money you make, the better positioned you are to create an emergency fund. But this is where the irony lies. Because, as a rule, the folks who are diligent enough to live without consumer debt usually pay their bills on time. They do not impoverish themselves so they or their offspring can attend college, and they do not spend extravagantly. They are also the ones who are going to be least prone to emergencies, and thus least in need of any emergency fund.

Perhaps you’re worried about the transmission falling out of your car, which would necessitate a $3,000 repair. If you feel that the prospect of this problem warrants creating an emergency fund, but you’re already carrying enough debt to cover three or four transmission replacements, the sad news is this: your emergency has already begun. It began several thousand dollars ago.

If you’re going to minimize risk for yourself or your family  a noble task in and of itself society has already developed several methods for doing so, any of which you can use to your advantage. Worried about a debilitating illness or injury? We have health insurance for that. Not only will a comprehensive health plan cost less than a regulation emergency fund, the former is earmarked for a specific purpose. The same goes for the fear, however irrational, of a cataclysmic car accident. Again, we have auto insurance. If you’re really that concerned about worst case scenarios, spending a few dollars raising your coverage limits to the maximum makes far more sense than does spending thousands more on an emergency fund.

You must know the right time for stop saving for retirement

You’ve done all the correct things – financially speaking, a minimum of – to urge prepared for retirement. You started saving early to require advantage of the ability of combination, maxed out your 401(k) and individual plan (IRA) contributions once a year, created sensible investments, squirreled away cash into extra savings, paid down debt andpuzzled out the way to maximize your social insurance advantages.

Many people who have saved consistently for retirement have trouble making the transition from saver to spender when the time comes. Careful saving– for decades, after all – can be a hard habit to break. “Most good savers are terrible spenders,” says Joe Anderson, CFP, president of Pure Financial Advisors, Inc. in San Diego.

It’s a challenge most Americans will never face: More than half (55%) are at risk of being unable to cover essential living expenses – housing, healthcare, food and the like – during retirement, according to a recent study from Fidelity Investments.

Even though it’s an enviable predicament, being too thrifty during retirement can be its own kind of problem. “I see that many people in retirement have more anxiety about running out of money than they had working very stressful jobs,” says Anderson. “They begin to live that ‘just in case something happens’ retirement.”

Ultimately, that kind of fear can be the difference between having a dream retirement and a dreary one. For starters, penny-pinching can be hard on your health, especially if it means skimping on healthy food, not staying physically and mentally active, and putting off healthcare. (For more, see 7 Signs You’re Spending Too Little in Retirement.)

Being stuck in saving mode can also cause you to miss out on valuable experiences, from visiting friends and family to learning a new skill to traveling. All these activities have been linked to healthy aging, providing physical, cognitive and social benefits. (For more, see Retirement Travel: Good and Good for You.)

One reason people have trouble with the transition is fear: in particular, the fear that they will outlive their savings or have medical expenses that leave them destitute. One thing to keep in mind that spending naturally declines during retirement in several ways. You won’t be paying Social Security and Medicare taxes anymore, for example, or contributing to a retirement plan. Plus, many of your work-related expenses – commuting, clothing and frequent lunches out, to name three – will cost less or disappear.

To calm people’s nerves, Anderson does a demo for them: “running a cash-flow projection based on a very safe withdrawal rate of 1% to 2% of their investable assets. Through the projection they can determine how much money they will have, factoring in their spending, inflation, taxes, etc. This will show them that it’s OK to spend the money.”

Another reason some retirees resist spending is that they have a particular dollar figure in mind that they want to leave their kids or some other beneficiary. That’s admirable – to a point. It doesn’t make sense to live off peanut butter and jelly during retirement just to make things easier for your heirs. (For more, see Designating a Minor as an IRA Beneficiary.)

“Retirees should always prioritize their needs over their children’s,” says Mark Hebner, founder and president of Index Fund Advisors, Inc, in Irvine, Calif. “Although it is always the desire for parents to take care of their children, it should never come at the expense of their own needs while in retirement. Many parents don’t want to become a burden on their children in retirement and ensuring their own financial success will make sure they maintain their independence.”

Since there’s no magical age that dictates when it’s time to switch from saver to spender (some people can retire at 40 while most have to wait until their 60s or even 70+), you have to consider your own financial situation and lifestyle. A general rule of thumb says it’s safe to stop saving and start spending once you are debt-free and your retirement income from Social Security,pension, retirement accounts, etc. can cover your expenses and inflation.

Even if you find it hard to spend yournest egg, you’ll have to start cashing out a portion of your retirement savings each year once you turn 70½ years old. That’s when the IRS requires you to take required minimum distributions, or RMDs, from your IRA, SIMPLE IRA, SEP IRA or retirement plan accounts (Roth IRAs don’t apply) – or risk paying tax penalties. And these aren’t trivial penalties: If you don’t take your RMD, you will owe the IRS a penalty equal to 50% of what you should have withdrawn. So, for example, if you should have taken out $5,000 and didn’t, you’ll owe $2,500 in penalties.

If you’re not a big spender, RMDs are no reason to freak out. “Although RMDs are required to be distributed, they are not required to be spent,” Charlotte A. Dougherty, CFP, of Dougherty & Associates in Cincinnati, points out. “In other words, they must come out of the retirement account and go through the ‘tax fence,’ as we say, and then can be directed to an after-tax account which then can be spent or invested as goals dictate.”

As Thomas J. Cymer, DFP, CRPC, of Opulen Financial Group in Arlington, Va., notes: If individuals “are fortunate enough to not need the funds they can reinvest them using a regular brokerage account. Or they may want to start using this forced withdrawal as an opportunity to make annual gifts to grandkids, kids or even favorite charities (which can help reduce the taxable income). For those who will be subject to estate taxes these annual gifts can help to reduce their taxable estates below the estate tax threshold.”

The Most Improtant Of Chartered Accountant For Your Business

There ar varied|many different|many alternative} kinds of comptroller deal in various streams that may be verify with their qualifications and offered services. With this in mind, it might be terribly difficult to understand that what quiteservices your business really required ANd what quite an comptroller is that the best for meeting your businessnecessities. There ar in the main 2 styles of account love

1. Chartered Accountant
2. And Non Chartered Accountant

Put just the main differentiation between Chartered Accountant and non Chartered Accountant is that CA or an accountancy firm is run by a technical body whereas a non-chartered-accountant has no any kind of regulations or criteria to meet.

There you can find various different forms in CA or chartered account and accountancy fields for example ACACC or the Institute of Chartered Account of Central Coast, and ACCA or the Association of Chartered Certified Accountants. These professional institutes serve as a governing organization for accountancy firms offering guidance and make sure that their employees are in compliance with all the present laws and regulations. If you want to be a part of these organizations there will be several criterions which you need to meet including professional exams and experience levels. For instance you need to clear entrance tests to the Institute of Chartered Accountants Association of Central Coast (ACACC) requires at least of 3 years management training and 3 years worth of tests. From here, there are also additional exams with specialized training essential for synchronized work. Other organizations require potential members to sit and clear an entrance exam with sufficient marks which covers all accounting streams from attestation, auditing, attestation, regulation and reporting to financial accounting,.

These bodies consequently make sure that their interns keeping their training criteria to guarantee that their interns are up-to-date with all the modern and advanced technologies, regulations and specialism in the business industry. In addition to these particular requirements Chartered Accountants Central Coastfirms are also permitted to offer professional services such as insolvency and audits. When it comes to the services of CA, they would be able to offer these services and Chartered accountancy firm must apply for expert authorization and as a result authorizations and all consequent related tasks are heavily controlled by governing organizations such as the Chartered Accountants Association of Central Coast (ACACC). As a rule the world of accountancy is mainly bound by hard rules of ethics and professional codes of conduct. These organizations provide a full guarantee that all of their interns meet these complicated criteria consequently making sure in theory the uppermost standard of accounting and in turn the best alternative for any people accounting needs. While, logically you can observe that there are always exemptions to the rule of conduct to when finalizing any decision regarding accountants so, you are always good to make it based upon their past work and reputation rather than just on their specialization. You can make your decision according the capacity of your organization. The body of organization, manufacturing of products are the component can finalize the body of accounts department!

Choose the best one of mutual fund

We all wish to settle on the most effective various. Before opting out for love or money, the foremost factor that we have a tendency to do could be a correct survey. once knowing regarding all the choices out there, their options,we have a tendency to choose the one most fitted for US.

There are various mutual funds in the Indian investment market, but opting for Birla Sunlife Mutual Fund is like choosing the one which is the best.

What do we want from an AMC?

Asset management companies are the ones, which manage our funds in a way to provide the maximum returns out of it. The money that we earn with immense hard work is precious for us. Losing the same even in our thoughts makes us too much upset. So, before handling over such hard-earned money to anyone we need to think twice or even thrice, to be assured that the money is going in right hands. In the case of making investments, our first expectation is ‘Safety’ and secondly we want ‘High Returns’. So these are the two basic needs that an AMC must fulfil.

Birla Sunlife Mutual Funds – Why?

Something which is in existence from a long past is more trustworthy than anything which is newly established. Birla Sunlife MF is a joint venture of the very renowned individual corporates viz. The Aditya Birla Group of India and the Sun Life Financial Inc. of Canada. Both the organisations have a world wide trusted records and are big brands of their industries. This joint venture solely is a proof of being the most reliable mutual fund. We do not need to worry about the safety of our funds because safe and secure returns are the most prominent aim of BSL MF. Moreover, its past records have already proven it to be among the top mutual funds of India.

The main solutions provided by the Birla Sun Life mutual funds are:

1. Wealth Creation: This solution aims at growing the money through equity or gold investments. The options available for the same are from conservative to aggressive ones. These are beneficial for those who are investing for future expenses like child’s education or marriage. The different funds under this solution are:

  • Birla Sun Life Advantage Fund
  • Birla Sun Life Banking and Financial Services Fund
  • Birla Sun Life Gold Fund
  • Birla Sun Life Index Fund etc.

2. Tax Savings: These provide benefits in saving taxes of an individual and simultaneously provides income growth as well through equity investments. Various funds under this are:

  • Birla Sun Life Tax Relief Fund
  • Birla Sun Life Tax Plan

3. Savings: The main aim of an investor is saving the money for future needs. This is assured by theBSL mutual funds through their savings solutions, which preserve your monies and provide liquidity. There are different schemes under this:

  • Birla Sun Life Cash Manager
  • Birla Sun Life Cash Plus
  • Birla Sun Life Corporate Bond
  • Birla Sun Life Enhanced Arbitrage Fund etc.

4. Regular Income: These solutions are build to provide good returns with regularity. Regular income is required by every investor, and thus this is the best solution. Following are some of the schemes under this:

  • Birla Sun Life Monthly Income
  • Birla Sun Life MIP
  • Birla Sun Life MIP II – Wealth 25 etc.

Thus, it provides the mixture of all the required traits in a mutual fund. With the various solutions mentioned above, birlasunlife mutual fund has the required calibre of making the promise fulfilled. Also, the different schemes of Birla Sunlife mutual funds, which are running successfully in the investment market have been successful in gaining confidence among the investors of mutual funds.

Accordingly, it can be concluded here that Birla Sun Life mutual fund must be given a thought while choosing the mutual fund for investing. It is assured that you will undoubtedly find it to be one of the best among all.

How to get much money

images (7)Reports earnings Gregorian calendar month fourteenth AMEastern Time. gazing the daily chart below, you’ll be able to see value has been hanging out higher than the twenty, and two hundred moving averages the past couple days, a robust technical position.

as a result of this, If I had to choose a direction for $JPM to maneuver upon earnings, i’d provides a slight bias to the top. If $JPM will get a liftfrom earnings, I’ve isolated a locality wherever i will be able to be wanting to short the equity. On the chart, I’ve drawn in 3 completely different trend lines of resistance. supported these, i might look to short $JPM anyplace from $64.75 to $66.00. Since it’s choices X week, i’d favor nearer to $66.00 to enter a trade. Larger swings in value thantraditional square measure prevailing throughout the choices X week that means value usually overshoots support and resistance levels.

This Article was originally posted on Verified Investing.

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The reason that make intel corp is fall

Intel Corporation (NASDAQ:INTC) has been one amongst the most well liked stocks in one amongst the most well liked sectors over the last period of time. With nice news from Western Digital business firm (NASDAQ:WDC) et al.within the semiconductor sector, each stock within the sector has seen a mega move higher. i’m here to inform youthat’s over, a minimum of for Intel. Below square measure the 3 reasons Intel Corporation (INTC) is ready to fall.

 1. The stock has risen from $30.45 to $35.25 in two weeks. This is a monster move in a very short time for a mega large cap stock. History dictates that when stocks jump this far this fast, there is a pull back on the horizon.

 2. Intel (INTC) put in what is known as a doji on the daily chart. This is a candlestick formation that signals the end of a move and a reversel.

 3. The volume on the doji was the highest per day for the entire two week up move. This confirms the doji as a reversal signal. High volume when the stock price forms a doji signals distribution. Distribution is when big money unloads their shares to average investors.

 4. This same area has a significant resistance point on the daily chart. If you zoom out and look back to October – December 2015, you will see a ton of choppy, sideways action where the stock previously topped. This creates an area known not only as a double top but as mega resistance for the stock. Expect this to add to the selling pressure.

 These reasons together tell of a pull back on Intel Corporation (INTC). The likely pull back target is $33 in the coming month.

It will be a good idea to choose vehicle insurance

images (6)Vehicle insurance is an the part of your auto. have you think that insurance is iportant for you ? just learn more and read it in the following reason :

There are two types of vehicle policies: Third Party & Comprehensive vehicle policy. Third party refers protection cover for the damage done to a third party into an event of an accident, such as injury or death or damage to his or her property on account of any accident caused by your vehicle under Third Party insurance. It also includes personal accident cover for the owner-driver. However, it doesn’t cover any damage to your motor. As per the law, it is mandatory to hold atleast third party cover to driver your motor on roads.

 A comprehensive is a protective cover for your vehicle as well. It will provide you both third party and own damage covers. Taking cover for own damage is not mandatory but it will be proves quite helpful as it takes care of your financial needs during emergency. Therefore, it is advisable to cover for damages to own the vehicle too. The risks covered are natural disasters such as earthquake, flood, storm, etc. Man-made disasters such as accident, theft, fire, riots, malicious act, etc.

Every vehicle is insured upon a value based on the manufacturer’s price of the vehicle minus the depreciation as per the vehicle’s age known as Insured Declared Value. The damage to third party property is covered upto a sum of Rs 7.5 lakh for car and Rs 1 lakh for two-wheeler. And there is no such limit on the cover for injury or death to the third party.

The premium on your Vehicle Insurance policy is determined on various factors like model, capacity, age, fuel type, city you stay in, your age, profession, security aspects, claim experience and lastly modifications made/accessories added to the vehicle.

One of the most common ways to save premium is the No Claim Bonus (NCB), where you can get a discount on your premium if you haven’t made any claim in the prior years. These discounts can be increased with each successive year of zero claim and goes up to as high as 50% to 60%.

It is advisable don’t claim for petty dents or small scratch and utilized your No Claim Bonus, instead accumulate these bonuses and utilized for higher discount premiums. Another way to reduce premium would be installing safety devices, having membership of an automobile association, choosing higher deductibles, parking in garages or safe area, etc.

Many van drivers and commercial vehicle owners often rely heavily on their vehicles as a source of income. For this reason it is important that you look after your vehicle well and make sure you are sufficiently insured should anything go wrong.
One of the most important factors of insuring your commercial vehicle is making sure you have the right cover for you vehicle and it’s intended use.

Note that the amount insured may be a limited sum for each vehicle and will based on the value of the contents. Goods in transit insurance will provide cover for:

  1. Theft
  2. Loss
  3. Damage caused by accidents during transit
  4. Damage caused during transit

You can always enhance the protective cover by opting for add-on to insure for risks that are not covered under a standard policy. Some common-add on would zero depreciation, no claim bonus, hospitalization, etc. Some insurance companies offer the cashless facility if the vehicle is repaired at their authorized garages. Else, you can repaired at your preferred garage and then claim reimbursement from the insurer.

Know The Car Security System is Needed For you

Have you know about the system security of your car? acttually that is really useful. you don’t know what happen later, then, just learn it at  this paragraph below. it will be help you more :

The Global Car Security System Industry 2016 Market Research Report gives a comprehensive account of the Global Car Security System Industry. Details such as the size, key players, segmentation, SWOT analysis, most influential trends, and business environment of the market are mentioned in this report. Furthermore, this report features tables and figures that render a clear perspective of the Global Car Security System Industry. The report features an up to date data on key companies product details, revenue figures, and sales. Furthermore, the details also gives the Global Car Security System Industry revenue and its forecasts. The business model strategies of the key firms in the Global Car Security System Industry are also included. Key strengths, weaknesses, and threats shaping the leading players in the market have also been included in this research report.

The report gives a detailed overview of the key segments in the market. The fastest and slowest growing market segments are covered in this report. The key emerging opportunities of the fastest growing Global Car Security System Industry segments are also covered in this report. Each segments and sub-segments market size, share, and forecast are available in this report. Additionally, the region-wise segmentation and the trends driving the leading geographical region and the emerging region has been presented in this report.

Get Complete Report with TOC :

The study on the Global Car Security System Industry also features a history of the tactical mergers, acquisitions, collaborations, and partnerships activity in the market. Valuable recommendations by senior analysts about investing strategically in research and development can help new entrants or established players penetrate the emerging sectors in the Global Car Security System Industry. Investors will gain a clear insight on the dominant players in this industry and their future forecasts. Furthermore, readers will get a clear perspective on the high demand and the unmet needs of consumers that will enhance the growth of this market.

Some Points from Table of Content:

Part I Car Security System Industry Overview

Chapter One Car Security System Industry Overview

1.Car Security System Definition

2 Car Security System Classification Analysis

3 Car Security System Main Classification Analysis

4Car Security System Main Classification Share Analysis

5 Car Security System Application Analysis

6Car Security System Main Application Analysis

6 Car Security System Main Application Share Analysis

7 Car Security System Industry Chain Structure Analysis

8Car Security System Industry Development Overview

8 Car Security System Product History Development Overview

9 Car Security System Product Market Development Overview

10 Car Security System Global Market Comparison Analysis

11 Car Security System Global Import Market Analysis

12 Car Security System Global Export Market Analysis

13 Car Security System Global Main Region Market Analysis

 

The cash loans just in short requirement

Todays, short requirement of the loans will be become more useful among the customers owing to sudden expenditure. This type of the loans will be generally-up to about three years. Then, just lean many kind of that type of loans.

Short term loans come up with higher interest rate as compared to long term. There are certain instances when you face expenditure out of the blue. In such situation, you can apply for loans with small term

Car repairs : These short term loans completely understand the importance of your car for you. It is very difficult to meet the unexpected costs to keep your car on the road, especially when you are running out of funds. Thus, you can avail car repair loans when you cannot afford the car repair cost. There is also a specialty of emergency car repair loans in case you have bad credits. Through this, you can easily opt for affordable monthly repayments and ability to choose the best duration of financing. These loans are considered as the most quick and efficient way to acquire cash in emergency. While applying for the loan, the lenders may ask for your proof of employment in order to make this sure that you can pay for the loan easily.

Unexpected medical expenses You might have to face unexpected medical bills in case of sudden illness or a road accident. Even if you are covered under the health insurance, you might find it difficult to pay. If you have some unpaid bills, applying for the loan might affect your credit report. In such situation, personal instalment loan is the best solution for you. These are actually the short term loans through which you can pay your bills easily. This loan can be paid back in small weekly payments.

Sudden vacations There are some moments when you are in urgent need for money, which might be due to any reason such as going for a vacation. For such situations, Instant Overnight Payday Loans are the best alternatives. If you apply for this loan, you can get it approved instantly. Even if you have a bad credit, you can apply for this loan. Thus, this loan is most suitable for such purposes. You can get the money instantly and can repay in small instalments over a shorter period.

Major purchase There are certain events when you have to loosen up your pocket unexpectedly especially when you have planned to do some heavy shopping. It might be a new laptop, window repair or your old fridge. Short term loans are the best solutions at that time.

Such sudden expenses can make it difficult for you to pay bills. In such cases, short term loans are reliable. Anyone irrespective of his credit history can have an access to it. You can search for the lenders on websites through your mobiles or laptops. You can also search for the tips required for responsible borrowing.

Although short term loans have made your life more comfortable and convenient, yet they should be used carefully:

Get totally informed about the cost of the loan You can ask any queries that come across your mind to the lender. If you are not clear about the cost of the loan, you should ask your lender about this. Even after your request, the lender is not being clear; it is a warning sign for you.

Reveal your situation clearly If you know that you need more than a month to pay for the loan, and then you should go for a loan that is designed to pay back over a longer period.

Do not apply for short term loans regularly  If you have taken the short term loans regularly, then you need to stop applying for it.

Amount you really need to borrow You should borrow only what you actually need, do not try to get maximum that the lender can offer you.