Technology does more than keep us connected, safe and entertained. In the world of short-term lending, it can also make borrowing easier, and more affordable!
And for those who are looking for ways to stretch a paycheque as those holiday bills start coming in, that could be great news!
Smart strategies for long-term savings
Of course, practicing money-saving strategies up front – whether for holiday gift-giving, vacations or unexpected expenses – is the ideal way to handle those bills.
First, start using a budget to set financial goals and chart a roadmap to reach them.
It’s also important to find a system that suits both your goals and your personal saving/spending preferences. For example, following the 50/20/30 rule:
● 50 per cent of your paycheque goes to the things you need to survive, like mortgage, rent, groceries, utilities and phone.
● 20 per cent goes to debt and savings. You can split this into credit card payments, loan payments and setting money aside for savings.
● 30 per cent goes to fun things, like dining out, seeing a new movie and spending a night out with friends.
Sometimes, despite our best intentions, those saving strategies simply aren’t possible. When that happens, a short-term, online loan can see you through the rough patch, and get you on track again.
Money-saving loan solutions
MyCanadaPayday.com operates online only, which lets them run with lower overhead, meaning clients are the real winners.
“This lets us offer loans to customers who might have more challenging credit – including those who other lenders would not offer credit to,” explains Sundeep Thind. “We are a direct lender, not a broker, and we’re entirely Canadian-owned and operated, including all our call centres in Surrey, B.C., Barrie, Ont. and Dartmouth, N.S.
“Our risk scoring system uses information outside of credit reports, which allows us to loan to many people who traditional lenders or even other payday lenders can’t work with.”
Thanks to the secure, fully online application at MyCanadaPayday.com, there’s no paperwork to print, fill out, then email away – simply fill in the information online and the MyCanadaPayday team does the rest.
“It’s fast and easy, and the whole process takes only five minutes to complete,” Thind says.
And for those concerned about protecting their personal information, technology has also provided for that!
“And we use state-of-the-art encryption to protect all our clients’ private information.”