Personal Loans Empowering Personal Savings

Personal loans are getting a facelift in Canada with the arrival of FinTech solutions. Never heard of FinTech? That’s alright; a FinTech company is essentially a company that utilizes advancing technology to provide financial services to clients easier and faster than ever before. While Canadians are becoming acclimated with FinTech and its provision of personal loans, there has already been an influx of investors rushing into the industry in several countries around the world. One of the new leaders in Canadian FinTech is none other than the Edmonton-based personal lender, Cashco Financial. Cashco Financial is leading the financial services charge online with personal loans that are so flexible, they fit to each client’s needs and can actually help promote personal savings.

“When people have enough money for exactly what they need – to pay off their bills and settle any outstanding debts – they can set the groundwork for responsible personal savings habits,” says Tim Latimer, the company’s CEO and Founder. Cashco Financial is focused on providing refinancing to the 11% of Canadians who struggle with their personal finances, cash shortfalls and credit scores.

The application process for a personal loan is very simple. Our online form makes it easy to select either a short-term loan or a long-term loan, input some information and immediately get an approval decision seconds after pressing submit. Cashco Financial’s typical customer is not someone who lacks adequate financial literacy. In fact, our clients are often very well informed about personal financial management. Unfortunately, there have been extenuating circumstances that caused a cash crunch for a client or their family. When this happens, it is our goal at Cashco to help the client get back on their feet.

Cashco Financial still provides financial tips and tricks

Gratitude is something that is incredibly important to us at Cashco Financial. We survey all of our clients through our daily Attitude of Gratitude phone calls. Often what other companies don’t realise is that the simple act of reaching out and showing people that you care can make a huge positive impact in their lives. Continuously practicing gratitude at work is a good start, but we should try practicing them all of our daily lives. What are you grateful for? Holidays are right around the corner making it the perfect time to take a moment and reflect on what you are grateful for.

Here are four financial lessons to be grateful for this Holiday Season:

1. I'm grateful that I was raised to value savings and practice responsible and continuous savings. It doesn’t matter whether you have an extra dollar or an extra hundred dollars at the end of the week. What matters is that you actively make the decision to put that money away into a pot of savings. When you commit to regular savings every week or month, you are actually paying your future self. There are lots of tools that you can use to better your chances of being successful at achieving your savings goals like automatic transfers that set aside some money from your chequing account into your savings account every week.
2. I'm grateful that because of my saving habits, I have been able to build a small nest egg for a rainy day. Having an amount of money set aside makes me feel relieved that should an unfortunate circumstance occur, I would be able to weather the storm and not fall into a financial hole. You should always have at least three months’ salary saved somewhere in case of an emergency like losing a job or having a large unexpected expense.
3. I'm grateful that my partner and I both share the same views on the importance of savings and responsible spending. If you do not currently share the same financial goals as your partner or family members, it is always a good time to start the conversation about household bills and future planning. You will discover that once you have these conversations, you can more easily save for vacations together or home renovations.
4. I’m grateful for having a secure job that allows me to earn enough to cover my expenses and still save some money on the side every month. Fortunately, most of the big expensive things in my life (home, car, food, etc.) are reasonably fixed and predictable so it is easier to manage a household budget. Try as much as you can to place the “expensive pillars” in your budget so that you are more prepared for smaller extra expenses. Everything is paid for out of one budget remember.