Jurong has located West of Singapore with well planning residential town. In the event, you need Personal Loan just approaching to best licensed money lender in Jurong – Quick Credit Pte Ltd. We always ready to giving help hand. In the event, you need funds for your wedding, vacations or even in an emergency situation we provide several moneylender services with low and competitive interest rates.
Besides that, we also know that people search for a licensed moneylender company that’s trustworthy, location and provide competitive interest rates.
Characteristic of Quick Credit loans:
- We offering various types of loans with low-interest charge.
- Adjustable loan tenure to fulfill every borrower’s needs.
- Simple monthly repayment plans that suitable borrower’s paying capacity.
- The kindly staff explains the loan term in detail.
Quick Credit Moneylender Services
- Personal Loan is designed to meet your individualistic needs, you can make use of the money to pay off the hospitalization fees, purchase new gadgets, wedding expenses, etc.
- Bridging loan is a short-term loan, e.g. you are in the process of selling your current house and purchase of a new house.
- Business Loan is specially created for SME entrepreneurs in Singapore. They can make use of the loan to expanding their business.
- Payday Loan is to assist you when there are unexpected expenses.
How Do You Measure Your Financial Progress
You would have started saving money for a long time. Has made your debt and loan payments for credit cards or anything before the time. Used your bonus adequately with saving some amount and spending some. And you may have a high income, but how much do you save for yourself annually. Is that leading to make you financially successful every? Have you asked yourself this question? Well, if not, then this is the time you ask the question to yourself and find the answers. Being successful financially is essential in current times. You have daily spendings that you need to take care of. So, here we provide some insights on how to measure your financial progress, so you would know how much are you spending and saving.
Net Worth
One of the most crucial things that can’t be ignored when measuring your financial progress is to see your net worth. Calculating your net worth lets you know about where you stand in your financial progress. If wondering how to calculate your net worth, it is very simple.
First of all, list down all of your assets. Assets are what you own, the things that have substantial values. Assets can be like your insurance policy, savings account, checking account, any vehicle that you own, or your home if you own it. Income is not your net worth that is cash flow.
After listing the assets, list down your liabilities. Liabilities are what you have owed from someone and paying for it. Your liabilities can be like, personal loans, car loans, credit card balances, student loans, or tax liability.
After listing both down, subtract liabilities from assets, and the amount remaining will be your net worth. Your net worth can be positive or negative. Net worth below 0 means you have no net worth with the burden of debts, but if you want to make a good net worth making sure you clear your debts on time. And have a huge number in positive.
Debt-to-Income Ratio
Calculating the debt-to-income ratio is another essential part that you should look after your net worth. Remember, your debt-to-income ratio is not included in your net worth; it is distinguished. You calculate the debt to-income-ratio by calculating all of your debt payments and dividing them with your monthly gross income.
To understand the debt-to-income ratio here, we provide an example. Assume you have a monthly income of $10,000, and your total debt payments add to $3,400. So now you will divide debts with total income, that is, $3,400/$10,000 = 0.34. So, you get a debt-to-income ratio of 34 percent.
Many experts believe that having a debt-to-income ratio of 30 percent and above is high. You need to take care of your finances. If your ratio is touching 40-50 percent, then you should start worrying and take steps to reduce the ratio percentage.
The high debt-to-income ratio is an important aspect of credit ratio, and people see your debt-to-income ratio before giving you a new credit card. Your income is probably low, and your debts are high, so you can opt for a side work that would help you to gain more income and that would eventually help to pay your debts.
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