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Managing Your Money

Affordable-PaymentsManaging your own finances is a skill that many people never learn, and one that can make a difference throughout your lifetime. Nowadays, it seems that managing personal finances should be easier with all of the software and budget programs available to the general public. Still, some of us fail. Here are a few tips for managing your money and improving your financial outlook.

 

  1. Spend less than what you make. There are only two things you can do with your money – spend it or save it. Do not spend more than you earn. If you make $40,000 per year, do not spend more than that. In fact, you probably should spend less than that, which brings us to No. 2.
  2. Always be prepared for the future. This does not necessarily mean planning for retirement. You should always be prepared for a financial emergency. When the car breaks down or the plumbing needs to be fixed, you need to have a fund available to cover those unexpected costs. If you lose your job, you need to have some savings set aside while you search and land another one.
  3. Pay yourself first. When you receive a paycheck, take some of it and pay yourself. Invest that money in a financial device that will earn you even more money. It could be something as simple as a low-interest savings account, a money market account, or even a bond. You could also invest in things like mutual funds or stocks that can earn even more when invested properly. Eventually, your savings will grow, and you will have a long retirement completely paid off.
  4. Borrow money wisely. At some point, you will borrow money to buy a car or possibly even a house. Shop around for the best deals on loans. Make sure there are no prepayment penalties. Your credit score will play a large role in the interest rates that you are offered. The higher your credit score, the better the rate that you will receive. Do not miss payments on cars or houses. These will affect your credit history, and when you try to borrow in the future, you may not be able.

 

If you can remember these tips and act on them, you can have a successful financial future. If you do run into a situation where your credit is poor and you find it difficult to borrow money, consider a car title loan. If you are the owner of a vehicle and it is paid off, you can use it as collateral for a loan. Most car title loans are smaller loans, in the area of $2,000 to $5,000, but can be very effective in times of financial emergency. Title loan companies like Embassy Loans of Florida have helped numerous customers get access to money they need. As always, repay the loan as quickly as possible, and never miss a payment.

 

 

 

 



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.