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Getting Back To Financial Basics

How-to-QualifyIf you have had problems managing your finances, you are not alone. There are many who have the same troubles. If you have done a poor job of managing your income and spending, it is never too late to turn the tables and become more financially responsible. You can start by getting back to the basics.

The Budget

Getting back to the basics begins with establishing a budget. You have to examine your spending and find areas where you can cut back. Based on the amount of income, take care of the most important bills first while also establishing a routine of saving. If the daily $5 gourmet coffees do not fit into the budget, eliminate them. Establishing the budget is not difficult; sticking to it is.

The Emergency Fund

As part of your budget, you should begin saving so that you have six months’ worth of savings in case of an emergency. This fund is only used for emergencies, such as the loss of a job. Once this fund is set, you will have developed the habit of saving and can continue to do so for things like cars, houses, college funds, and more.

Analyze Your Credit History

Your credit history can have a dramatic impact on your financial picture. You should know your credit score and history and what you can do to improve it. Each year, you can acquire a copy of your credit report for free. Look through it and see if there may be any errors. If so, contact the creditors to get them fixed. All debts in collections should be paid. Most creditors will accept a percentage of the balance. If you have several open credit lines, pay down the balances at least below 30 percent – more, if possible.

Consider Debt Consolidation

You want to maintain some open lines of credit, but you may be able to consolidate some of your credit card debt, for example, into one new lower payment. Consider a car title loan if you own a vehicle free and clear. This type of short-term loan could help you pay down a majority of your debt. Embassy Loans
of Florida has helped thousands of customers borrow money to help their financial situations.

Learn to develop a budget and have the willpower to stick to it. Set financial goals and strive to reach them. Make an effort to understand your credit history and work to fix it. If debt consolidation makes sense, consider using it to help improve your financial standing.

 

 



Embassy Loans is a leading provider of auto title loans since 2005

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Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

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Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.