10 Things That You Need To Know About Student Loans

It is common for a lot of students to have student loans. While it may seem a tedious job to keep up with your monthly loan repayments, it is imperative to pay dutifully because it has its rewards in the long run. Here are some tips to make it more bearable.


Loan Details

You must know the details of your loans. Who are your lenders, how much is your balance and what is the repayments status of each loans. If you have federal loans check it on www.nslds.ed.gov to see the details, while you can check your bills and other paperworks for your private loans.


Keep in touch

If ever you moved, changed your contact number or emails, always update your lenders. Communicating with your lenders are important. Always read your mails, emails and bills. Do not miss a call from your lender. If your lenders call you, do not be afraid to answer, they are willing to help should you encounter a problem with your loan payments.


Grace Period

Grace period is the time span when you have to pay your first loan payment after leaving school. Federal Stafford loans requires you to pay within six months, while federal Perkins loans give nine months of grace period. Federal PLUS loans will depend on when it was issued. For private loans, contact your lender. Never miss the first or as much as possible, all your payments.


Payment troubles

Education savingsIf you are still unemployed, struck by a serious health condition or other major financial troubles, do not just worry yet. Temporary postpone your federal loan payments with deferments and forbearance. However, these options are likely to increase the loan’s interest rates.


Do not skip payments

However tiresome, never ignore your loan repayments. If you don’t pay your federal loans for nine months it will lead to default, which means more debt. Your credit score will go lower, your loans will fluctuate, the government will take much of your wages, and you will lose your tax refunds. As for the private loans, the person who cosigned your loan will also go on debt. If you are having troubles paying, talk to your lender.


Repayment options

Your federal loans will be based on a standard 10-year repayment plan, if this will be hard to keep up with, there are other options such as extending the life loan beyond ten years, but this will make your interest payments higher. You can also choose between Income-Based Repayment and Pay As You Earn which will depend on your monthly salary. You can have loan forgiveness overtime. On the other hand private loans does not have such option. You can talk to your lender if you can pay interest-only in your dry months.



Loan Consolidation means that you merge your various loans into one repayment every month with a fixed interest rate. You can calculate and consolidate federal loans with the Direct Loan program. Do not consolidate federal loans into private, it will lose its payment options.



Prepay is paying more than the required payment for the months. This will decrease your loan interest. Remember to send a written request to your lender that you want to prepay or else the prepay will just be carried over for the next month.


Service the highest interest rate first

If you want to pay your loans in advance, choose to pay the loans with the highest interest rate first, these are usually the private loans. Federal loans have more flexible payment options.



With the Public Service Loan Forgiveness, part or all of the federal loans can be forgiven after ten years of faithful payments, provided that you work in the government, public service or nonprofit. You can see the details in at IBRinfo.org.

10 Very Awesome Tips When Buying Investment Property

Investing on a rental property is one of the best investment a person could do as it yields much returns as time goes by. An investment property is known to make many rich and gives financial stability, however the road to riches is never easy. There are certain things to consider and do to have a fruitful investment.


Right price at the right location

Invest time to know and research the real estate market around the area of your property. It is hard to put on a price for a property, t have an idea know the selling price and the market value of those properties around the one you are interested in. Be familiar with the trade because it is hard to venture on things you have no idea about. Beware of those properties offered by real estate agents that markets interstates as they offer much higher than it should.

When choosing which property to invest in, consider the the information from mortgage insurers and lenders about the different areas and property developments. Always keep in mind that you invest for the returns, so do not buy the property just because of the tax deduction. Also, you should consider the location. If you want to have home units, choose the area near schools, parks, malls, amenities, and hospital.


The right mortgage

Take some time to research about various loans you can consider, but do not forget that it is also important to research about your local real estate market. To know the real value of the property you are interested in, know the selling price and value or the similar properties around it.

Planning for a loan that best fits you is very important and remember that interests on investment property loan is tax deductible. However do not mix your property loan with your own house loan to maximize the tax deduction benefits. There are also two kinds of loan rate: fixed and variable. It is tempting to choose the variable because it is common nowadays and seemed convenient, but in the long run the fixed loan will yield more as the property value goes up.


Do the math

As many know, this kind of investment is for long term, but if you manage it well it will lead to financial stability. Make sure that you can service your loans regularly and you can keep up with the interest of your mortgage. Manage your financial responsibilities along your long term plans because you will not want to sell your property at the wrong time when you weren’t able to get your capital yet.

While you have to maintain your property, save as much as you can. Do the minor repairs yourself to keep it inexpensive. You can also ask your accountant for some advice involving taxes such as Land Tax and Capital Gain Tax. While you seem to shed more at first than you expected, remember that in the long run it will all pay off


Have a Property Manager

Usually a licensed real estate agent can make a good property manager. He or she will be responsible of your property and your tenants. It is his or her responsibility to remind you and your tenants of your responsibilities and rights. Let your property manager do the job, but you can still make independent inspections in your property and give notices through your manager.


Market and Dynamics around your area

Have some time to go around the areas around your property and talk with the locals and the real estate agents. Drop hints on the agents that you are interested in any area that will come available in the market, so they will give you inside data thinking about the competition. Know the demographic, property values, and average rents near your yours. It is also helpful to know if there are any developments going on nearby as it can give more value to your property.


Negative Gearing

Negative gearing offers tax benefits if the investments exceeds the income it should be producing, but this benefit can only be available if you have other taxable income. If you are losing income from a property, you can use it to deduct tax from your other income, however, do not just buy a property just to have this benefit.


Long Term Planning

Venturing on property investment requires money, patience and time. Know more about real estate, the prices and how it goes before investing. Create a long term plan as this kind of investment requires time before you can get expected returns. Make sure that you are financially stable, and once you have higher equity, you can buy another property. Do not be too greedy and remember to enjoy your life despite the stress this venture can cause you. Unlike other investments, you can’t immediately sell your property, take care of it and it will pay off big time.


Property Condition

Having major repairs may drain you financially, before purchasing the property, have a  professional building inspector thoroughly inspect it to avoid more problems. If you need to do some major repairs, have an experienced workman deal with it to ensure good results. It may cost more, but you will have an opportunity to make the property better and increase its value.



Using equity of your home can help you purchase a property. Equity in the money you actually own calculated by deducting your mortgage from the value of your home. You can use the equity to have a higher loan and more tax deductions.

Eye Catcher

Make your property attractive by making having it in neutral colors. Many think that it will be better if you as an owner will feel comfortable to live in your rental property, however do not feel too much at home because it is your tenant’s home and not yours. Simply put, do not be too emotionally attached to the property because you may have a hard time to decide logically on things pertaining to it.

Top 4 Personal Loans You Probably Don’t Know

If you are in need of cash for the long or short haul do not hesitate to get a personal loan from a licensed money lender Singapore at very friendly rates as well as terms and conditions. You will get to learn the best personal loan providers based on various factors that are important especially to you. For example, if you want to go for a loan and do not know who is the best provider try comparing the various factors and you will land yourself the best deal: Loan basics or requirements, any additional fees other than the interest rate, application procedure and process, customer service features and finally reviews of the same service.


1- Lending tree is the best personal loan provider out there. A couple of features combine to make this the best thing for your financial problems whether it is for the short term or long term. The company is provider for home loans, debt consolidation, cars and even vacations. Getting a thousand dollars to about thirty five thousand dollars will not take you more than a day! For those who want long-term loans, worry less since lending tree will give you a maximum of 5 years loan with very friendly terms and rates.

2- Consumeradvocate.org have a service that many would ‘kill’ to get. Very friendly loans that are accessible in a short time with very reasonable rates. The sofi loan is very flexibile and you can access up to $100,000 for your personal, home or vacation needs. Again, the duration of payment can be as long as 7 years with both fixed and variable options. For those who worry about hidden charges there ae no origination of pre-payment penalties.

3- Guide to lenders is another loan service that you may want to know about. This is a platform that links to very many possible lenders without having to go through many channels to reach them. Again, the platform has real time features that helps you monitor the change of rates in real time. The best thing is that you can a get a loan of up to $35,000 in less than a day. The loans accessible accessible can be used as you please since the categories included are very broad in nature.

4- Discover personal loans is one services that you must know because you never know when the need for money arises. This service has fixed interest rates and application only lasts a few minutes online. The loan service has not prepayment penalties or closing fees and you can access up to $30,000 in unsecured personal loans.

Top 10 Things to Consider When Buying Singapore Real Estate Property

Real estate is one of the most known businesses that makes a tycoon, however if you are just about to deep your toes into this venture you have to make sure that you are cut out for it. With buying a property and turning it into a rental place, you won’t just spend your cash, there are more into it than meets the eye. Here are ten things to consider:

Free from Debt

Are you free from debts? While experienced investors can use debts as part of their extensive portfolio to prove that their income can indeed keep up with their loans, you as a beginner and an average earning person should not be in deep debt. Before you purchase a home to turn into rental, reflect on your financial responsibilities. Your children might soon go to college and that will be more expenses to spend on or you may still have unpaid premium health care insurance.

Doing the Dirty Work

Do you have the skills for taking care of the house repairs on your own? Are you ready to get your knees dirty while fixing the plumbing under the sink and unclogging the toilet? You can get someone to fix it for you anytime, yet you have to shed your precious cash on it and eventually it might eat up most of your income. You need to know how to do the dirty work if you want to save more and keep your money in your pocket.

Realistic Down Payment

Do you have enough money to spare as your down payment? If you are an average earner and you just have enough savings for the rainy days, then you have to reconsider buying a property. Some homes might just require around 3% of the value as a down payment, but when purchasing a rental property, get ready for the 20% down if you are unable to get a mortgage insurance.

Returns and Expenses

When buying your first rental home, calculate on how much you can earn a month, but do not be too excited as you should still keep in mind the monthly expenses to keep your property in shape. A target of 10% returns is fine for starters. Remember that 1% of the annual property value will be an estimated cost of its maintenance, then add the insurance fees and taxes.

Deeper Debt

It is tempting to borrow large amount of money to help you acquire the property you are eyeing, but make sure that you can pay it considering the percentage of the interest. Interest rates might dwindle your monthly cash inflow, so be careful when committing to loans. Make sure you can refinance your mortgage and still eat three times a day.

Not so Cheap at All

It is tempting to buy a cheap home to turn into rental, however, look into it to find out why it is cheap. Though you can get a home at its lowest price, you might need major renovations and repairs that will eventually make you spend more than you could have saved. Repairs can even take more money and time than you can bargain for. It is better to buy a not so cheap house with just minor repairs.

Low Cost is More

As said above, cheap homes might be a bit fishy as it might hide major repairs, so eye for those low cost home with minor repairs. You can start investing on a home costing $150,000.

Half and half

Operating expenses will always be there. Be ready to allocate 35- 80percent of your gross income for some expenses that will turn up every now and then. It is better to make your rent value into half-and-half. If you think that your operating expenses a month will be $750, then ask for a $1500 rent charge.

Value and Location

Location can also make a difference with the value of your property. Also, a good location may attract more people who are willing to rent. Find a location near a district school, hospital, malls, restaurants, and parks. Do not forget some amenities and of course the safety of the place.

Of course, it is easy to see rich folks reap cash when investing in real estates, however be realistic. As a beginner, keep in mind that the return of your investments won’t come quickly. It will be better to work with an experienced person to get more tips and know your way around your new venture.

10 Best Tax Deduction Tips When In Singapore

We all know that filing your tax, though implemented by law, is not a happy task knowing that hundreds of bucks will go to the financing of the government out from your very own pockets. However, here are 10 simple tax deductions only few people know that lets you save up.

Act of Nature

We know that climate change strikes harder through crashing typhoons and unbelievable floods. If your home gets affected by any natural disaster and you were able to get an issued federal aid, you can deduct the uninsured costs for rebuilding your property.

Two Jobs More Savings

Many say that having a single job is not enough, some opted to have two jobs to make ends meet. Part of the cost of the transportation from one job to another can also be deducted as long as these are part time work.

Self Employment

There are quite more advantages when you work at home that you might have not realized yet. While it is easy to see that you can save money with transportation and you can spend more quality time with your family, only few self-employed knows that they can actually deduct some part of their utility cost from their tax, including their monthly magazine subscription. Even a portion in the rent of your home office can be deducted.

Health is Really Wealth

Many, nowadays, are concerned with their medical insurance as there is rise of health awareness going on around the globe. As medical insurance does not come cheap, you can deduct part of it that goes over the 10 percent of your gross income.

Mortgage Fun

While it is no fun to be having your properties mortgage, refinancing it could give you a happy thought. Simply put, it is your silverlining. While you can save on the interest of you loan every month, you get loan points that can be deducted from your tax.

Finance and Tax

If you itemized your tax planning and investment expenses and it exceeds 2% of your gross income, you can just deduct it from your tax. What could be considered as your investment expense? It could be your monthly subscription to business and financial magazines such as Forbes or your phonecalls to your broker.

Charitable Service

It’s rewarding to get involve with charities. Giving a hand to those in need as they say brings a good karma and someday you will reap its sweet fruit. Little did you know that you can actually reap it on tax day as charitable contributions that can be deducted from your tax. But what if instead of giving cash for the good cause, you had given your hand through service such as driving to a fund raiser or an event? Well, all you have to do is to keep record of your mileage, and by the day you are about to file your tax, it can still be deducted.

Rewarded Educator

Teaching is considered as a rewarding job. While it does not always pertain to the financial aspect educators, including instructors, teacher aides and school heads can have tax deductions for the those they buy for the sake of their classroom activities. This is an above-the-line deduction, making itemizing of expenses not required.

Saving Working Parents

Parents who need to work and leave their kids to a sitter or caregiver are entitled for a tax deduction to compensate for the cost. This includes the nursery school, day care and preschool, however the age of the child and the credit percentage will considered.

Moving Out

If you are moving to another state or 50 miles away for a new job you can deduct some part of the expenses. Deductable expenses include the costs of insurance, storage, transportation and lodging you shed off during the move.