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Financial Hints and Tips

Payday Lending

What is Payday Lending?

Payday lending is a form of short-term loan that works on a month-to-month basis, and is unlike the other types of loans where repayments are made over a number of months. It is when you take out a loan that has to be repaid when you next receive your salary. Payday loans could benefit people who would otherwise have trouble obtaining a more traditional form of loan. We created wanna loan? to assist South Africans by giving them access to short-term, cash loans to help make ends meet for that month.

Payday lending has proven to be very useful for dealing with those emergencies dictated by Murphy's Law: those unexpected situations that you may find yourself in that you could not foresee and therefore didn't budget for.

Car repair loan — when you least expect it and mostly can’t afford it, your car usually breaks down.
Family vacation loan — taking that needed time off can be quite stressful if you find your cash flow wanting. Payday loans can bring in extra cash for a family holiday break.
Medical expenses loan — it is never pleasant when either you or a loved one falls sick. Prescription pills or doctors' appointments could prove costly, especially when you have not budgeted for it. Getting a small loan until payday could mean the difference between a slow recovery or a speedier one.

The inherent value in payday, short-term loans is realised when you are able to access short-term credit with relative ease in emergencies.

As with many other forms of lending, the ability to make repayments on time will avoid any rising interest fees. Timely repayments keep the interest fee amount that you are required to pay back from rising. It is important to consult with an experienced and qualified debt counsellor should you experience trouble with your repayments. You will be able to receive objective advice and assistance with your finances.

At wanna loan? we offer short-term loans to help you with those little things. Where you can get ‘Same day. Pay day. Every day.’ assistance!

Credit Glossary of Terms

When one considers all the terms and acronyms that get bandied about in the credit lending industry, it is very easy to quickly become overwhelmed. We thought that this handy glossary of terms below, sourced by the National Credit Regulator (NCR) would prove useful in cutting through all the clutter.

Credit Provider:

A party who lends money or provides credit to another under a credit agreement. That would be us: If you apply for a short-term cash loan with us through our secure website, then wanna loan? would be your credit provider.

Credit Bureau:

Is an entity that discloses personal (credit) information to financial institutions. They compile and maintain reports on investigative credit applications, credit agreements and payment histories or patterns, etc.

Credit bureaux
are a resource that assist us by providing the credit information we need in order to qualify you.

Credit Agreement:

An agreement where a credit provider sells goods or lends money to a consumer on credit in exchange for payment at a later date. The consumer is expected to agree to the terms and sign the agreement. The agreement will contain information about the credit product that the consumer has applied for and been granted, and also information regarding the repayment period, insurance, interest and other fees charged, and what will happen if the consumer fails to pay his/her installments.

When you apply with us at wanna loan? you determine the nature of our credit agreement, and the process starts at our sliders. When you choose the amount you would like to borrow and your repayment date, you are effectively outlining conditions of the agreement with which you feel most comfortable.

We have made every effort possible to ensure that the steps in the credit agreement are straightforward and explained clearly. When you provide your digital signature and accept our terms and conditions, we would have successfully entered into a credit agreement with you.

Credit risk evaluation processes:

An assessment carried out by a credit provider to determine whether or not credit will be granted to a consumer, what level of bad debt can be expected, and what level of risk will be acceptable to justify the profit made.

At wanna loan? we consider this process as qualifying the customer. We want to be sure that you are able to pay back your loan so that you do not incur any unnecessary debt. It is important to us to lend responsibly, and as such, necessary, to qualify all our applicants.

Debt Counsellors:

Individuals registered with the NCR who assist overindebted consumers to restructure their debt by way of negotiating more manageable repayment terms with the credit providers, including obtaining a court order on behalf of consumers.

If you are under administration or required to undergo any debt counselling with a licenced practitioner, we will unfortunately be unable to grant you credit. It is important that you are able to manage you debt obligations before you decide to take on any additional debt.

Hopefully this brief glossary can assist you in demystifying all the credit lending terms!

*Definitions as sourced: http://www.ncr.org.za

Payday Loan Offers

Loan offers are everywhere and they are usually accompanied by dreaded fear, uncertainty or rising debt. For precisely these reasons loanlenders and moneylenders are given a negative reputation. There are, however, loan companies that exploit customer ignorance or abuse their position as credit providers.

Therefore, it's important that you are able to tell the wheat from the chaff and know what to look for when searching for a loan.

Firstly, Blatant Signs


When choosing a lender there are a few tell-tale signs that you should watch out for that may indicate that a company will render a negative experience for you. You should not under any circumstances:

Be promised a guaranteed payday loan. All reputable loan companies will do an initial, qualifying check.
Be expected to pay an upfront fee in order to get a payday loan.
Be threatened or harassed with phone calls about your payday loan.


It is important that you pay attention to these signs, as it could mean the difference between a positive and negative experience.

Secondly, Reputation


Do your research on the loan company that you are planning to do business with. Reputable businesses make the effort to have an online presence and value customer satisfaction. As far as possible, speak with people who have used the company before, and take the time to read the testimonials of previous clients.

Thirdly, Terms and Conditions

There are very few people who enjoy, let alone take the time, to read the terms and conditions appended to contracts they enter into. This is a very important exercise and should not be taken lightly. You can gauge the sincerity of a loan company’s intention quite easily when you read the fine print and discern whether they are looking to exploit your circumstances or plainly just want to generate rising interest on debt fees. Do yourself a favour and avoid unnecessary rising interest rates. Read the fine print!

Some Helpful Tips:


Be sure to only borrow as much as you can comfortably afford to pay back.
Always make sure that you understand all the costs involved.
Try to pay the loan off as soon as you can; this way you keep your interest lower.


wanna loan? is South Africa’s leading online, payday lender. We try as far as possible to ensure that all our legal matters and communications are conveyed plainly. Our excellent track record and reputation precede us, and we will never attempt to mislead you in terms of our agreement with you.

If you are looking to make ends meet this month, connect with wanna loan? the South African payday lender of choice!

Budgeting Tips

Being able to manage your cash flow is not a skill relegated to a chosen few. There are many easy hints and tips available that can assist you in making smarter, financial decisions.

wanna loan? are committed to responsible lending and encourage you to manage your finances with accountability. Our eight easy budgeting tips will help you do just that!

Eight Easy Budgeting Tips:

Do a cash-flow, health check

Many South Africans struggle to keep tabs on their spending. Admittedly, it is not the most enjoyable activity for people who are unaccustomed to recording their spending and creating budgets. What many people do not realise is that when you record your spending each day, you will quickly be able to assess your spending habits, which in time can help you manage it better.

By budgeting, you will notice an improvement in your cash flow.


Cut down on lifestyle luxuries

One of the first questions you need to ask yourself is whether you are living within your means. Does your spending always exceed your budget despite careful budget planning? If this is the case, then you've got the basics down, as setting up a budget is the first step.

However, a budget is only useful and effective if you stick to it. Cut out all the non-essential, luxury expenses.

Use your time

If you cannot forego any of your lifestyle must-haves, consider using your time in a way that makes you more money. A long-term route is to actively work harder to get that promotion and higher salary. Alternatively, a short-term and perhaps more direct route is to consider taking up a part-time job.

This will boost your cash flow and help you pay off your debts quicker.

Check the resale value of your assets

Do you own any assets that have resale value? Consider reselling that car that you had bought ages ago and no longer use. You may just find that selling it allows you to pay off debt sooner, thereby allowing you more financial freedom.

Consider favouring financial freedom over sentimentality if you have urgent debts.

Be informed

Read. Get as much information as you can about the credit lending process and how your actions affect your credit rating. As you learn more about the credit lending process, you will be more empowered to help yourself build a better credit score report.

You can request a credit check for free once a year from Transunion or Compuscan.

Save

Be sure to allocate at least 10% of your income to saving. Saving is a tried and trusted method that affords a level of financial security.

Saving can be hugely effective when done regularly and diligently.

Review your budget monthly

You need to review your budget and spending habits every month in order to gauge any progress. This is probably the most important step in your budget review process.

This will allow you to identify your strengths and weaknesses quickly, which in turn helps you manage your cash flow better.

Get help

If you cannot seem to manage your budget effectively despite your best efforts (and our budget tips!), we advise that you seek professional debt counselling. It is important to act quickly when you experience trouble repaying your debts to avoid any additional rising costs.

Creating and practising good budgeting can be the first step towards debt freedom. We hope that you find these tips helpful.

Quick Cash

Posted by Michelle Peterson, June 6, 2012

Securing quick cash when you need it in an emergency can be stressful, especially if you do not have it on hand! Traditional ways of securing money may take at least a few days to not only be processed, but also paid into your account. The traditional process can take up to four days, depending on the lender, and involve lengthy paperwork. In an emergency, time is precious, and a swift and easy way to secure a loan would be ideal.

You can get quick cash if you need it, when you need it, from wanna loan? At wanna loan? we understand that you need access to cash, and we make the process as simple as possible to ensure that you do. So, that worst-case scenario that you were sketching in your head needn’t become a reality. Therefore, our quick cash personal loan solution will be ideal for you, as it will make the cash available that same day.

Our slider technology on our personal loan calculator has been designed to ensure that the amount you are committing to borrow and the repayment amount are transparent and clear. It's very simple to use and helps you see exactly what you are committing to with the amount you want to borrow.

If you need quick cash, be sure to visit us online and fill in our application form in order to secure your quick cash loan today!


Category financial hints and tips | Tags quick cash

Instant Loans

Posted by Michelle Peterson, June 6, 2012

Most people want most things done yesterday, and it's the job of today's service providers to aim to deliver just that. Traditionally, taking out a loan proved to be a lengthy process.

The process involved credit providers taking days to qualify you, and perhaps even longer to deposit the cash into your bank account. And with each passing day, your emergency situation becomes increasingly dire.

The traditional model proved wanting, and a solution of instant loans was needed. wanna loan? have worked hard to provide you with a solution that works. At wanna loan? we process your loan application and outcome instantly. Our premium software can qualify you within seconds. We pride ourselves in our paperless and conveniently online loan application process.

No security or collateral is needed. Hence, you needn't put up any assets in order to secure your loan, which helps us facilitate your loan application quicker. Our goal is to take all the hassle out of the loan application process. For small loans to tide you over until payday, choose wanna loan? We can help.

Apply with wanna loan? today for an instantly qualifying, short-term, online loan!


Category financial hints and tips | Tags instant loans

Cash Advance

Posted by Michelle Peterson, June 6, 2012

At least once in your lifetime you will experience an inevitable situation where you need a cash advance that would help you deal with an emergency and breathe a little easier. Perhaps you need urgent repairs done to your car, a bill you completely forgot about needs to be paid, or you or a close relative needs urgent medical attention. These things happen, and can prove to be expensive when they do.

To some, cash advances or short-term loans are bad news, as they can become quite expensive in the long run. A short-term, cash advance only becomes a liability if mismanaged. Pay back what you owe, when you owe it, and a short-term, cash advance could be one of the better decisions you could make.

Should there be an emergency in your life that requires more cash than you have access to, let wanna loan? be your first point-of-call. Let wanna loan? be that friend that you can confidently ask to spot you until payday.

Since we are committed to responsible lending, you can rest assured that we encourage you to only take out an amount that you can afford to pay back.


Apply for a cash advance with wanna loan?, South Africa’s favourite payday lender! We serve many South Africans countrywide!

To get a better understanding of the cash advance term, we have put together three top points for you to keep in mind:

What it means: A cash advance is an amount paid before it’s earned.
What it is: It is a popular form of short-term, financial lending. When you take out a cash advance, you are effectively taking out a short-term, personal loan.
What it costs: You do NOT pay any fees upfront. All fees and administration costs are built into the interest. This allows you to use your full loan amount for your emergency.

Category financial hints and tips | Tags cash advance

Small Loans

Posted by Michelle Peterson, June 6, 2012

Every so often we need a little help. Usually, the effect that a ‘little’ assistance can have is so small that it would hardly show up on any calibrated instrument, let alone make headline news. While this may be true, its effect is not negligible. It can be counted. Seemingly insignificant, small changes can make a huge difference, which in turn can make our lives just a little easier.

Therefore, a little financial help before payday can end up being a big help. Sometimes your paycheck simply doesn’t stretch far enough. The bills still roll in, and those little emergencies still crop up. For many, a small, personal loan before payday can be that big help that's needed. At wanna loan?, providing small loans to help with the big things is our specialty. We understand that every so often a small, personal loan can help make ends meet.

We have tailored our application process for your convenience. You can apply online and have the cash deposited in your account that same day. We help South Africans countrywide by providing access to short-term credit.

Need a small loan until payday? Let us help.

Category financial hints and tips | Tags small loans

Personal Loan Calculator

Posted by Michelle Peterson, June 6, 2012

Taking out a loan can be quite a nerve-racking experience. Much of the anxiety stems from uncertainty about the terms of the loan. But this needn’t be a stressful experience. If you have empowered yourself by learning about the various loans available to you, all that is left is to be absolutely clear on the details of the loan agreement.

We have created a fast and effective way for you to estimate how much money you are able to borrow over your specified period.

Use our payday loan calculator sliders for free to calculate your loan repayments. Our calculator also shows how much you will be expected to pay back. Be empowered and know exactly how much you are expected to pay back over the specified period from the amount you are requesting to borrow. Loans are easier to manage when you are clued up about exactly what you can expect from the lender, and what the lender expects from you.

We are committed to responsible lending and strongly advise to only borrow as much as you can afford to pay back. To this end, we have created our free, payday loan calculator for exactly that purpose!

Category financial hints and tips | Tags personal loan calculator