Why You Should Get An Allotment Loan In Case Of An Emergency

Don’t have an emergency fund?

Apply for an allotment loan with us. Read on for the benefits of choosing allotment loans in an emergency!

Why Allotment Loans Are A Great Option In An Emergency?

Emergencies are an unavoidable part of life. You are told to prepare for emergencies by starting an emergency fund. However, if you don’t have the financial freedom to start an emergency fund yet, a smart option for federal employees is an allotment loan.

What Are Allotment Loans?

Allotment loans are a type of loan made for federal employees. This type of loan is available to federal employees with bad credit. It doesn’t require collateral and has fixed interest rates and payment terms. In an allotment loan, the borrower has to allot an amount of their paycheck as payment. As such, the payment is automatically deducted from their paycheck every month until the amount is paid off completely.

Allotment Loans For Emergencies

Unlike traditional loans, allotment loans from us can be used on any expenditure. Borrowers are not required to declare where they will use allotment loans. Thus, others have used their allotment loans to potentially improve their credit score or start an emergency fund. However, allotment loans are a great option, too, in case of an emergency that requires a large sum of money. 

Benefits Of Choosing An Allotment Loan

1. Easy Qualification

Applying for various loans is difficult when you have a bad score. It’s easier to apply and qualify for an allotment loan with us. There is no need to put up collateral or show your credit score. You only need to submit identification requirements.

2. Flexibility

You can use allotment loans for any purpose—you can cover any type of emergency expense without fuss. You don’t need to declare what you need the loan for. You can also apply for larger amounts.

3. Fixed, Low Interest Rates

We offer allotment loans at fixed, low interest rates. Interest rates will not hike up later on, and you don’t need to worry about additional costs.

4. Manageable Payment Terms

You have the option to pay off your loan in a short period, with higher salary deduction, or in a longer period, with more manageable salary deductions. These are meant to ensure that the loan remains manageable and minimize missed payments.

5. Helps Improves Your Credit Score

The average credit score in the US today is 703. If you’re not part of that, allotment loans can help you improve your credit score. We do not pull up borrowers’ credit score. However, consistent payment will contribute positively to your credit score since we do report payment history. 

Apply for an Allotment Loan here.

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NOTICE: This communication and its content are for educational and informative purposes only and should not be used as the basis for any investment decision. The information contained herein is based on publicly available sources believed to be reliable but not a representation, expressed or implied, as to its accuracy, completeness or correctness and it is not a replacement for the guidance or professional advice of an accountant, certified financial advisor, or otherwise qualified professional. No information available through this communication is intended or should be construed as any advice, recommendation, or endorsement from us as to any legal, tax, investment, or other matters. Nothing in this communication shall be considered a solicitation or offer to buy or sell any security, future, option, or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this communication constitutes investment advice or offers any opinion with respect to the suitability of any security. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient.  We recommend that you never provide a third party with names, account numbers, or other sensitive information unless you are certain that it has a legitimate business purpose.

Links to third-party websites are provided for your convenience only and you access them solely at your own risk.  We do not endorse or assume any responsibility for any such third-party sites, information, materials, products, or services.  Your access and use of the third-party sites are governed by the terms of use and privacy policies of these third-party sites.  You acknowledge and agree that we shall not be liable or responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or related to the use of or reliance on any content, goods, or services available through any third-party website or resource. 

* ACCESS LOANS™ products are funded and serviced by Safra National Bank of New York (“SNBNY”).

How To Set Financial Goals And Stick To Them

Tips For Achieving Your Financial Goals!

Do you want to start an emergency fund, save up for retirement, or put your kids through college? You can achieve your financial goals with these tips. 

Having a plan is vital to achieving any goal—whether it’s career goals, fitness goals, or financial goals. How many times have you set out to save money, started out strong, only to dwindle out in a couple of weeks? Not anymore. Set up effective financial goals and actually stick to them with the help of public sector loans and other tips below!

Tips For Setting Financial Goals

About half of achieving your goals is setting clear and realistic goals. 

1. Keep Your Goals Realistic

Start by establishing what goals you want to achieve. Don’t go overboard with an abstract and aggressive dream. Similarly, set up long-term and short-term goals. Instead of saying you want to save up for retirement, for instance, establish how much you want to save up for your retirement. 

2. Set Clear, Specific Objectives

After setting a realistic goal, break it down into clear, actionable objectives. If possible, break them down into daily actions. Without clear objectives, your financial goal is nothing but a dream. Start with the objective of saving a few bucks each day so you can open a savings account, then set how much you will save each month, and so on. Specific objectives give you clear instructions on what to do so you can stay on track with your financial goals.

3. Keep Your Goals Time-Bound

One more way to keep your goals attainable is by setting a deadline or a timeframe for achieving said goal. This makes your goals even more concrete for you, so you don’t see your financial goals as far-off ideas.

Tips For Sticking To Your Financial Goals

1. Write Down Your Goals And Objectives

Make your goals and objectives material by writing them down, including the steps you need to accomplish to achieve them. You can use this to track your progress. 

2. Track Your Progress

Tracking your progress is a great help for staying motivated and on track. You can easily see if you neglected to save for the week and quickly make adjustments. Do this for both long-term and short-term financial goals. 

3. Make Necessary Lifestyle Adjustments

Some people may have not employed effective money management in the past, which may have resulted in habits that result in financial stress. Re-evaluate your financial decisions (like your shopping habits) and see where you need improvement. If you need discipline putting in your extra cash toward your savings, for example, why not set up an automatic transfer every payday to your savings account. 

4. Set A Support Network

Sharing your goals with another person, especially someone who can check-in on your progress is an effective way to stay on track with your financial goals. They can also serve as your support network to keep your morale up. Your support network could be your friends or your partner or spouse. 

You could also enlist outside help, from us, in getting public sector loans to get you started on your financial journey. With public sector loans, you get minimal interest rates and flexible repayment plans so you can kickstart your emergency fund and continue saving while you pay off your loan. 

Did you enjoy this blog? Please review us to help us improve and spread the word. We appreciate your feedback – CLICK HERE ⭐⭐⭐⭐⭐

 

NOTICE: This communication and its content are for educational and informative purposes only and should not be used as the basis for any investment decision. The information contained herein is based on publicly available sources believed to be reliable but not a representation, expressed or implied, as to its accuracy, completeness or correctness and it is not a replacement for the guidance or professional advice of an accountant, certified financial advisor, or otherwise qualified professional. No information available through this communication is intended or should be construed as any advice, recommendation, or endorsement from us as to any legal, tax, investment, or other matters. Nothing in this communication shall be considered a solicitation or offer to buy or sell any security, future, option, or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this communication constitutes investment advice or offers any opinion with respect to the suitability of any security. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient.  We recommend that you never provide a third party with names, account numbers, or other sensitive information unless you are certain that it has a legitimate business purpose.

Links to third-party websites are provided for your convenience only and you access them solely at your own risk.  We do not endorse or assume any responsibility for any such third-party sites, information, materials, products, or services.  Your access and use of the third-party sites are governed by the terms of use and privacy policies of these third-party sites.  You acknowledge and agree that we shall not be liable or responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or related to the use of or reliance on any content, goods, or services available through any third-party website or resource. 

* ACCESS LOANS™ products are funded and serviced by Safra National Bank of New York (“SNBNY”).

6 Tips To Manage Financial Stress

How To Rise Above Your Financial Stress Like A Pro 

Federal employees have been under a lot of stress since the pandemic started. Here are 6 tips for managing your financial stress and achieving your goals. 

The ongoing pandemic has raised stress levels all over the US, according to the report by the American Psychological Association. Many federal employees are feeling the financial stress of meeting their basic needs and paying off loans. Manage your financial stress with the USA employee loan program and these other tips.

6 Ways To Manage Financial Stress

1. Identify Your Biggest Challenges

Financial problems are overwhelming. Like an overwhelming workload, tackle your financial problems by identifying the main sources of your financial stress. Is it your mortgage? Your mountainous credit card debt? The Kids’ tuition fees? Or your diminishing savings? List these down so you know what you can resolve and then plan accordingly.

2. Track Your Spending

Once you understand your major financial problems, it would also help to track your spending. See if you have unhealthy spending habits or if there are things (such as subscriptions) you can slash off. Tracking your spending will give you a more realistic picture of your financial status.

3. Call Your Credit Card Company Or Loan Provider 

If you’re struggling to keep up with your credit card payments, you don’t have to hide from your providers. Instead, call them up and ask them about available financial relief programs. They may waive the late fees, reduce your interest rates, or offer a payment plan so you can make reduced payments while still staying on track.

You can do the same with mortgage or student loans. You can ask your mortgage provider or your student loan provider for forbearance or request payment extensions, according to the Consumer Financial Protection Bureau. 

4. How Do You Deal With Financial Stress?

Stress pushes people toward unhealthy habits, such as smoking, drinking, impulsive buying, or binge eating. These are not only unhealthy for your body and your relationships, but also for your financial wellbeing. Be aware of how you handle financial stress and try to steer away from toxic money habits.

5. Maximize Your Income

Spending wisely is so important nowadays. If your household is surviving on one federal employee income, you cannot afford to waste money on luxuries. Focus your expenses on your basic needs as much as possible, and use the remaining to save up or pay your credit or loan. 

6. Apply For A USA Employee Loan Program

If you have multiple loans and credit cards with dues piling up due to your household’s reduced income, or for some other reason, you can consolidate all your debt and pay them through a USA employee loan program from us. Consolidating your debt is a common tactic that makes debt manageable. When you consolidate your debt, you pay all of them off with the fund you get from the employee loan program, then pay only the loan. With lower interest rates and flexible repayment plans, you don’t have to allot a large sum of your salary toward debt payment. 

Apply for a USA employee loan program with us to minimize your financial stress!

Did you enjoy this blog? Please review us to help us improve and spread the word. We appreciate your feedback – CLICK HERE ⭐⭐⭐⭐⭐

 

NOTICE: This communication and its content are for educational and informative purposes only and should not be used as the basis for any investment decision. The information contained herein is based on publicly available sources believed to be reliable but not a representation, expressed or implied, as to its accuracy, completeness or correctness and it is not a replacement for the guidance or professional advice of an accountant, certified financial advisor, or otherwise qualified professional. No information available through this communication is intended or should be construed as any advice, recommendation, or endorsement from us as to any legal, tax, investment, or other matters. Nothing in this communication shall be considered a solicitation or offer to buy or sell any security, future, option, or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this communication constitutes investment advice or offers any opinion with respect to the suitability of any security. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient.  We recommend that you never provide a third party with names, account numbers, or other sensitive information unless you are certain that it has a legitimate business purpose.

Links to third-party websites are provided for your convenience only and you access them solely at your own risk.  We do not endorse or assume any responsibility for any such third-party sites, information, materials, products, or services.  Your access and use of the third-party sites are governed by the terms of use and privacy policies of these third-party sites.  You acknowledge and agree that we shall not be liable or responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or related to the use of or reliance on any content, goods, or services available through any third-party website or resource. 

* ACCESS LOANS™ products are funded and serviced by Safra National Bank of New York (“SNBNY”).