Setting short-term and long-term saving goals

You can keep your banking roll flexible and enchanting by setting your short term and long term saving goals. Establishment of saving goals let you spend your money wisely. No matter you are having a small family, bulky family or blended family you can best keep your family happy y setting your saving goals. You can accomplish this task by taking and utilizing loans in profitable works and business. Moreover, you also need a single precaution of not mingling your short term goals with your long term goals.

Setting short-term and long-term saving goals

Draw a split line between your short term and long term goals:

The very first and most significant step for saving your money is to make a split between your short term and long term goals. Your short term goals would be those that will last within months and that are time restrictive. Whereas your long term goals would be those which would last after years.

Moreover, keep in mind most of short term goals needs low finance where as long term goals needs more finance budget.

Duration of short-term saving goal:

Most probably, the duration of short term saving goals would be about 6 to 7 months. But it is not a rigid value. It can vary from person to person and from situation to situation,

Duration of long term saving goals:

Long term saving goals usually goes for years and years.

What are the most common short term goals?

Short term saving goals usually embrace the purchasing of new clothes, new bags, new grocery, new books and so on.

What are the most common long term goals?

The most common long term goals embrace a use of money in studies, buying a car, buying a new home, starting up a new business and so on.

What you can do wisely for accomplishing your short term and long term saving goals:

Better is to utilize your money either for short or for long term goals which would give profit. Such as, if you have restricted money and you already have a car, despite of buying a new car better is to kick start a little business. The reason is, an extra can would profit you nothing except giving you a mean of transport. Whereas, a little business can give you continues profit.

Emptied hands? Do bid for installment loans:

If you are having nothing in your hand and still you want to make short term or long term saving then do it by taking installment loan. The advantage of taking installment loan is, they do not put Burdon on you. You just need to give little installments on monthly basis. You can take such installment loans from various banks and various finance institutes and can set your short term and long term goals successfully.

installment loans is one of an incredible mean and source of setting your long term and short term goals, If you want to set your short term and long term saving goals, then first of all do make a category of your goal. After doing first step, do apply for an installment loans to gather money. And finally have a kick start to accomplish your saving goals through installment loans.

The 5 main reasons your loan applications are rejected


When you are applying for the loans at the bank, don’t forget to keep in mind that somehow it might get rejected and that would be a shame. If you take the proper precautions this infortune can be prevented but for that keep in mind that there are some laws for banking and the loans rejection and acceptance depend on them if you are fulfilling the laws then there is no way that your application would get rejected in any way. So take a look that at what aspect you are doing something wrong:

  1. Income and loans ratio:

Sometimes it has been observed that the people who apply for the loans they already had taken so many loans for various reasons that result in the imbalance of their income and loans ratio. If your income is not enough so that you could afford another loan then say goodbye to the new loan you are applying for. Before you apply for loan sit down and calculate if your income is enough so that you could get another loan.

  1. Past banking credit report:

The most important thing that the loan applicant forget is that lender always does a background check if your credit report is having 60 days of unpaid debt that means that debt collection process is about to start, then know that your loan is about to be rejected. The reason is that unpaid credit report shows ultimately your incompetence for paying back loans.

  1. Address defaulter:

Take a seat and think deeply if your loans are being rejected, may be it is because residential and office address you provided is in the defaulters list. This would result in the automatic rejection of the loan. It is not necessary that you are the one whose credit card dues are unpaid or who skipped the loan payment, it is very much possible that you are living with someone who did this and this is what jeopardized your loan application approval.

  1. Job jumps may also cause loans rejection:

Do you get bored of your job very frequently and then change the jobs? This might have given your outlook as an unsteady person. This impression of you can literally put you in a place where your loans get rejected. When you apply for loans make sure that your past job’s tenure is at least 2-3 years. This would resultantly show the stability and also give the proof that you are consistent.

  1. Income tax dues:

The most important thing that you need to understand is that if you are behind in paying the income tax than you would be on the hit list of the lender to not give you any loan at all. Whether your employer issued you “Form 16” or not make sure to file tax returns and get your loans approved.

Now that you have top 5 reasons that may cause your loans to get rejected make sure that you avoid these shortfalls and get the loans approved even from the strictest of the banking rules right away.