Debt – Welcome To Poole Sat, 12 Nov 2022 07:52:44 +0000 en-US hourly 1 Debt – Welcome To Poole 32 32 Fintech can help promote economic growth: minister Fri, 11 Nov 2022 14:30:03 +0000

Jakarta (ANTARA) – Digital financial platforms, or financial technologies (fintech), can help boost national economic recovery and growth, according to the Coordinating Minister for Economic Affairs, Airlangga Hartarto.

“The digital finance sector has very promising potential. Thus, the existence of various digital financial platforms as national players should support the acceleration of economic growth and recovery,” the minister said in a statement received here on Friday.

The government, along with the Financial Services Authority and Bank Indonesia, continue their efforts to make the digital economy and financial ecosystem more competitive, able to keep up with technological developments, and also ensure security and legal protection, including cybersecurity, he informed.

Thus, all stakeholders, including associations and digital platforms, must collaborate to improve people’s digital financial literacy, he said.

“Digital financial services also need to be more inclusive and able to reach all sections of society; in this case, the fintech industry can act as a catalyst in the digitization of business players, especially MSMEs (micro, small and medium-sized enterprises),” Hartarto added.

He said he expects the fintech industry to help achieve the national financial inclusion goal of 90% by 2024, which can be achieved through various services, such as providing online lending, payment systems and digital financial innovation.

“The government is focused on further infrastructure development, both physical and digital, ranging from optimizing fiber optic networks; building BTS towers, data centers, Satria 1 and 2 satellites; expansion of 4G networks and 5G trials; up to the (launch) of satellites in low orbit to be able to reach the entire population, including that of the (remote) area”, he informed.

Stakeholders should encourage research and innovation of fintech products, services and business models, develop digital financial regulations and policies, increase human resource capacity and improve supervision to push digital transformation in the sector, added The Minister.

Related News: Indonesia’s digital economy could reach $330 billion by 2030
Related News: Innovative Fintech Startup KPay Closes US$10 Million Funding

Digital Finance Market 2022-2029, Global Industry Size, Wed, 02 Nov 2022 04:52:00 +0000

Digital Finance Market 2022-2029, Global Industry Size, Growth, Scope, Share, Regional Competition Landscape, Porter’s Five

Digital Finance Market Research Report: A Brief Summary

• The study offers details of the major organizations and companies operating in the market, so that research clients can understand how the major market players continue to succeed in the industry.
• This Digital Finance Market research report offers insights into recent events, product launches, and mergers and acquisitions of players that can aid in the creation of sound business strategies.
• The study gives an in-depth review of market players’ company profiles, product introductions, most recent developments, business proposals, and much more.

• Based on component, type, end user, actuation, and geography, it includes market growth and size across multiple industries.
• These excellent prospects support the creation of solid market strategies that enable companies to dominate their respective markets.

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The report focuses on the Digital Finance market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status and development trends. Additionally, the report provides strategies for businesses to overcome the threats posed by COVID-19.

Innovation and technological advancements will further optimize the performance of the product, allowing it to acquire a wider range of applications in the downstream market. Additionally, analysis of customer preferences, market dynamics (drivers, restraints, opportunities), new product release, impact of COVID-19, regional conflicts and carbon neutrality provide us with crucial insights to dive deep into the digital finance market.

The main players in the digital finance market are:
Urban FT
Everbright Group China
World FIS
I overtake
Tata Consulting Services
Infosys Endgame
Sopra banking software
NCR Company
Q2 holdings
Intellectual design arena
WBF Group
D3 Banking Technology
Rear chainstay

On the basis of Types, the Digital Finance market is primarily split into:
Internet payment
mobile payment
Online banking service
Financial Services Outsourcing
Online loans
Online insurance
Online Funds

Based on applications, the market covers:
Payment and settlement
Investment management

Major Regions or Countries Covered in this Report:
United States
South East Asia
Latin America
Middle East and Africa

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Years considered for this report:
Historical years: 2017-2021
Base year: 2021
Estimated year: 2022
Forecast period: 2022-2029

The following link will take you to some of our other trend reports:

Telephone: +1 888 391 5441
Email: [email protected] is your one-stop source for all market research needs. Our database includes over 500,000 market research reports from over 95 leading global publishers and in-depth market research on over 5,000 micro-markets. With comprehensive information on publishers and the industries they publish market research reports for, we help you with your buying decision by mapping your information needs with our extensive collection of reports.
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Peer-to-Peer (P2P) Lending Market Outlook 2022, Price Mon, 31 Oct 2022 07:53:00 +0000

According to IMARC Group’s latest report “Peer to Peer (P2P) Lending Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global Peer to Peer (P2P) Lending Market reached a value of US$112.9 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$525.3 billion by 2027, posting a CAGR of 28. 1% over the period 2022-2027.

Peer-to-peer (P2P) lending is a type of online financial arrangement between individuals and businesses that does not include banks or other financial institutions. It provides loans to qualified applicants through Internet platforms that connect borrowers with investors or lenders. Individuals can obtain business, personal, or educational loans with flexible repayment terms and cheap interest rates through peer-to-peer lending. It offers a higher return on investment (ROI) and facilitates fast, convenient and hassle-free loans with minimal documentation and no impact on credit scores. As a result, P2P lending is becoming increasingly popular among large and small businesses, individuals, families, and real estate.

Market trends:
The growing demand for these platforms to eliminate maintenance costs, establish physical branches and staff, and reduce risk for lenders and borrowers is primarily driving the peer to peer (P2P) lending market. With this in mind, expanding small and medium-sized enterprises (SMEs) are further augmenting the growth of the global peer-to-peer lending market. Additionally, the growing need for an alternative financing option that offers convenient repayment options and minimal billing fees is also catalyzing the global market. Furthermore, the development of smart contracts on blockchain technology that provide reliable and transparent borrowing and lending facilities acts as another important growth driver. Additionally, shifting consumer preferences towards online loans to avoid cumbersome documentation process and lengthy procedures are also driving the market growth. In addition, the increasing digitization of the banking, financial services and insurance (BFSI) sector and the increase in mortgage lending activities are expected to strengthen the peer-to-peer (P2P) lending market in the coming years.

Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Breakdown by type of loan:
consumer loan
Business loans
Business lending holds the majority of the global peer-to-peer (P2P) lending market share due to expanding business operations globally and high return on investment (ROI) of P2P lending.

Breakdown by Business Model:
Loans on the market
Traditional loan
Traditional loans are currently dominating the market as they help borrowers get quick and convenient loans.

Breakdown by end user:
Consumer (Individual/Households)
Small enterprises
Large companies

Small businesses are showing clear dominance in the market as P2P lending platforms allow them to borrow loans directly from investors at low interest rates.

Market Breakdown by Region:
North America (USA, Canada)
Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Ask the analyst for a customization and browse the full report with table of contents and list of figures:

Competitive landscape with a key player:
Before Inc (TYO: 3836)
commonbond inc.
Funding Circle Ltd (LON: FCH)
LendingClub Corporation (NYSE: LC)
Lendingtree Inc. (NASDAQ: TREE)
On Deck Capital Inc.
Prosper Marketplace Inc.
Retail Money Market Ltd (BOM: 540615)
Social Finance Inc. (NASDAQ: SOFI)
Upstart Network Inc. (NASDAQ: UPST)
Zopa Limited.

As the novel coronavirus (COVID-19) crisis engulfs the world, we continuously monitor changes in markets, as well as industry consumer behaviors around the world and our estimates on the latest market trends and forecasts are made. after considering the impact of this pandemic.

If you want the latest primary and secondary data (2022-2027) with cost module, business strategy, distribution channel, etc. Click request a free sample report, the published report will be emailed to you in PDF format within 24-48 hours of receipt. full payment.

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The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

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The crypto asset market in Indonesia is weakening. What is the solution? Thu, 27 Oct 2022 11:47:00 +0000

Jakarta, Indonesia, October 27, 2022 /PRNewswire/ — The Crypto Asset Industry in Indonesia is still in the focus of many parties due to its development. Compiled from the latest data from the Commodity Futures Trading Regulatory Agency (CoFTRA) at August 2022crypto asset investors have penetrated 16.1 million clients, but on the other hand, the crypto asset industry is also witnessing a significant decline where the total value of transactions during the period from January to August 2022 was recorded at IDR 249.3 trilliondown 56.35% compared to the same period in 2021.

The decline in the value of crypto asset transactions since the start of 2022 is the impact of global economic conditions as the macroeconomic position has not been good throughout the year due to the recession and challenges which caused the crypto asset industry to experience a bear market. According to the founder and CEO of Bitocto, Milken Jonathan, the increase in interest rates from the Fed (the central bank of United States) will certainly continue to absorb liquidity of various assets and will continue to impact until pivoting occurs from the Fed. But at the micro level, one of the reasons is the tax rate Indonesia, where trading fees on global exchanges tend to be cheaper and some are even free for certain pairs. “With the tax rate, it is certainly difficult for local exchangers to be competitive and may cause capital outflows due to the tendency to trade on foreign exchangers. For this, the government may consider relaxing some rules first, given the macro situation that has such an impact,” said Milken. Additionally, ABI Honorary Fellow as well as Telkom University lecturer Dr. Andry AlamsyaS.Si, M.Sc also added, according to Andry “bear market conditions are repeating conditions and have happened in the past. For the crypto industry, it is good that during bear market conditions, existing projects can focus on fundamental functions so that if conditions recover, the products/services offered by the project are more legitimate and mature The blessing in disguise of this bearish market condition can be used by asset developers to be able to conduct further research to produce products with better fundamentals.

The President of the Indonesian Blockchain Association (ABI), Asih Karnengsih, said that the bear market conditions force us to focus on activities that can strengthen the industrial ecosystem nationwide, because Indonesia still has great potential. It is therefore hoped that all stakeholders, both from government, commercial actors and all stakeholders, can “continue to collaborate to protect the crypto asset industry by improving / evaluating existing policies, such as the system valuation of coins or tokens included in the CoFTRA Positive List until the immediate inauguration of the Crypto Asset Exchange”.

However, during several unresolved issues, the Ministry of Commerce through CoFTRA issued Circular (SE) No. 208/BAPPEBTI/SE/08/2022 regarding termination of issuance of registration permits for Candidates for Traders in Physical Crypto Assets (CPFAK) which is suspected of violating legal standards and causing losses to CPFAK, both those who are currently and those who will conduct the registration process. Whether people look at other technology-based financial industries, such as e-money operations under the supervision of Bank Indonesia and online lending under the supervision of OJK, a moratorium on the registration process has also been put in place. Whether people can use it as a reference, the development of technology and markets is indeed one step ahead of the law/regulation. On the one hand, a moratorium on the licensing process can indeed be considered to bring the implementation rules into line with the current market conditions which are totally uncertain in order to protect consumers and commercial actors in Indonesia.

In addition, several companies are in the process of registration that have complied with the provisions of CoFTRA Regulation No. 8 of 2021 such as capital realization, development of business plans, development of applications, compliance with security certification standards, and others which of course cause material losses for commercial actors. This is certainly contrary to the government’s spirit of expanding investment opportunities and creating new jobs in Indonesia.

For his part, the Director General of Taxes at the Ministry of Finance, Suryo Utomosaid, “The taxation on PPh 22 crypto assets is the same, starting from June. This means that in the third month of June, July and August, we get IDR 125 billion. PPh 22 is IDR 60 billionthis is the 0.5% later rate for VAT IDR 65 billion“, said Suryo at the headquarters of the DGT, South Jakarta, Tuesday (10/04/2022). This total includes PPh 22 revenue from transactions of crypto assets through trading operators via electronic systems (PPMSE) and/or automatic deposits. With the great contribution of crypto asset trading to state revenue, the government should immediately lift the moratorium or if there is a need to maintain the moratorium, it can still allow companies that have undergone a registration process before the issuance of the moratorium the right to continue the licensing process. This is certainly seen as bringing a sense of justice to parties who have good intentions by following the provisions of Perba 8/2021.

Moreover, the inauguration of the Crypto Asset Exchange has yet to become another crucial enough issue in the regulatory and supervisory process conducted under the Ministry of Commerce. Even though the creation of the Crypto Asset Exchange is an emergency given that the Exchange functions as a forum to oversee the trading of crypto-assets in Indonesia, which was originally scheduled to be inaugurated by the end of 2021. Currently, some Crypto Asset Exchange applicants have registered with CoFTRA and have met the background requirements following Perba 8/2021, namely PT Digital Futures Exchange (DFX) . DFX Director Oham Dunggio said “In terms of readiness, for substantive and technical reporting requirements, we are 100% ready to operate. Additionally, DFX is awaiting clearance from CoFTRA to be allowed to support fully the growing industry of crypto assets in Indonesia.”

Meanwhile, on the business side, Robby, as Reku’s CCO, said, “Crypto Asset Exchange for the crypto industry is currently a major issue for CPFAK. Considering the status of crypto asset trader will never be perfect because the industry ecosystem is not yet ideal. support such as Crypto Asset Exchange have not yet formed.”

Seeing the state of the crypto asset industry in Indonesiawhich is as deep as a bear market condition, recovery efforts are needed to maintain the stability of the crypto asset trading ecosystem in Indonesia. ABI and the entire ecosystem hope that the government will immediately plan various decisive actions and swift actions against various issues that exist in the crypto asset industry.

SOURCE Asosiasi Blockchain Indonesia

Avant sees credit cards as its future Tue, 25 Oct 2022 10:45:00 +0000

Bochenek makes no apologies, saying Avant provides a service to consumers whose alternatives would otherwise be more expensive when they need credit.

“If Avant and others (subprime lenders) aren’t there to provide access, what’s the alternative?” he says. “The alternative is usually extremely expensive payday lenders.”

This is a strong case for the high-rate term loans that Avant’s original business model favored and that the company continues to offer. These are intended for consumers faced with an unexpected healthcare or car repair bill and are paid off in monthly installments over a few years.

These are transactional agreements and generally do not produce an ongoing relationship with the company. A credit card, on the other hand, is designed to allow customers to stay for the long haul.

Nor does a consumer necessarily get a credit card to cover an emergency expense.

Bochenek admits that customer relationships are different between the two products. “A credit card product is a consumer utility,” he says.

Before launched its card business in 2017 primarily to serve consumers who did not qualify for a high rate term loan. The idea was to give them a card with a very low line of credit – say $300 – and improve their creditworthiness by using the card and keeping it current.

Today, the card is a stand-alone business, marketed to consumers whether or not they are interested in a personal loan. This is also where Avant invests its marketing dollars and attempts to build a brand. In August, Avant unveiled a multi-year program agreement with Major League Soccer to become the league’s official card company and offer a fan affinity card.

For reputational and commercial reasons, it is therefore in the interests of card companies to keep their customers informed about their loans. In the case of Discover, for example, net card loan write-offs hit 8% in 2010 as the company struggled through the Great Recession, but remained profitable.

A default rate of 11% would be terrible financially for Discover. But that’s largely due to the lower interest rates it charges its higher-rated clientele. The average interest in the second quarter for Discover cardholders was 12.8%.

For Avant card loans, the average interest rate is 28.5%, according to Kroll’s September report.

For customers who are in default on their Avant cards, the company reports to the credit bureaus, Bochenek said. Thus, the 15% of consumers whose ultimate default is built into Avant’s card business model will see their creditworthiness worsened by the experience.

Bochenek answers: “We design our products and services in a very transparent and understandable way.

As for the future and current financial situation of Avant, Bochenek refuses to say whether the company is profitable. But he says there is no need to raise capital, either equity or debt. Avant last raised capital in 2015.

A functioning securitization market is essential to prevent Avant from taking on more debt in an era of soaring attractive rates or increasing equity at valuations likely to be much lower than they were seven years ago. year. The company will need to continue to appeal to investors for the loan packages it generates. To do this, the loans will have to perform as advertised.

With the potential for a recession looming, that could be tough. So far, says Bochenek, Avant hasn’t seen anything surprising in the financial situation of its borrowers. But it is to be watched closely.

“We are preparing like everyone else,” he said.

Online instant payday loans for bad credit Tue, 18 Oct 2022 17:58:43 +0000

payday loans for bad credit

Get 100% cash advance online even with bad credit. The best service for fast loans!

payday loans for bad credit

Payday loans, however, are a different breed of loan. These loans are short-term and high-interest, usually repayable within a few weeks. Additionally, payday loans for bad credit often have very short repayment periods compared to other ways to get quick cash. Due to their short repayment terms, these loans are best suited for people who may not have ready access to a credit card.

We’ll help you find the right payday loan. Quick and easy cash loans Cash advances from online lenders are usually short-term and high-interest. For people who need cash fast, a quick and easy cash advance from online lenders can help get you out of financial trouble.

Cash advances, such as guaranteed approval of loans without a credit check for bad credit, these are short-term, high-interest loans that usually need to be paid off within a few weeks. For people with short-term financial needs, online lenders may be all they need to get extra cash to cover expenses like rent, utilities, or groceries. Payday loans are designed to get quick cash for emergencies or to cover other needs, like paying a car bill.

These loans usually have very short repayment periods compared to other ways to get quick cash. Due to their short repayment periods, these loans are best suited for people who may not have ready access to a credit card.

In Australia, there are several different payday loan programs. The government provides several lenders with some funding for online loans so you can see what payday loans without credit checks are available. The payday loan program is not all there is to online lenders in Australia.

If you do, there is no minimum payment required when using a cash advance – the amount received may vary. Many lenders require that the total amount you borrow does not exceed 20% of your current disposable monthly income. For example, if your household income is $20,000 and you have a $2,000 emergency loan, the interest on the loan will be $360 per month. The cash advance can be made from a checking or savings account.

quick money

With an instant payday loan for bad credit or with a cash advance from a checking or savings account, you can get paid at a very low interest rate. This is because loans are usually grouped into short-term loans where payment is based on the size and term of the loan, which can be as small as $5 or as large as $1,000 or even $2,000. As with other forms of short-term loans, there are fees for each payment

To qualify for an instant payday loan, check or savings account cash advance, you will need to be current on your mortgage payment. Even if your current monthly payment is above the minimum required to qualify for the loan, it is often possible to consolidate a short-term loan with a payday loan.

There are no fees if the loan is made using a traditional checking or savings account, or if any of the funds are used to pay a credit card bill or bank balance. a prepaid card. However, cash advances by check or savings account require a minimum monthly down payment. There is no minimum if you make a cash advance using a checking or cash savings account.

A short-term instant loan is a great way to get some quick cash, but you’ll need to be careful not to spend more than you have. Payday loans over 30 days usually result in long payments that eat away at your monthly allowance. In a single week, you may have to repay $30 or more in fees.

In a single week, you may have to repay $30 or more in fees

Since payday loans are short-term, you won’t need as large a loan as a traditional loan or check loan at first. Your cash advances can earn you money quickly or create debt if you make payments too quickly after receiving your funds.

Typically there is a $25 line of credit and a minimum repayment of $35. With a secured mortgage or loan, the bank or lender gives you money for a short period of time and you are solely responsible for the repayment amount by making repayments at the end of the term. Although a loan usually includes a 10-day grace period, as long as you make the payments it will usually be processed, but you risk being stuck with a lot of debt.

A secured loan is a loan or mortgage that you have agreed to repay only if payments become due. The security of a secured mortgage loan helps reduce the risk of fraud, but also serves to generate revenue for the lender.

Get money with a check

If you’d rather not deal with a bank or credit card, you can also use a check as a quick way to get cash when you need it. A check is essentially just an electronic debit and payment transfer. It is the safest way to deposit and withdraw money. Checking accounts can be the same or different from checking accounts and checking accounts can accept check deposits, but all checks will require two forms of identification: a driver’s license or a US passport. If you need cash right away and don’t have a bank account, using a check is an option.

However, this is not a suitable option for people who want to save money, as you are forced to pay a fee, faced with the possibility of losing a cashier’s check or money order. If you plan to deposit money into a checking account, it’s best to use a credit card that lets people see the balance you have in your checking account if you need the money right away.

Live Updates: Bank of Canada Announces Biggest Drop in Trade Outlook Since 2020 Mon, 17 Oct 2022 18:39:52 +0000

Hello and welcome to the working week. Or should it be workers week? The 20th National Congress of the Communist Party of China is underway in Beijing and all eyes are on President Xi Jinping ahead of the scheduled vote to give him an unprecedented third term.

The Financial Times spoke to more than two dozen Chinese business executives, farmers, government officials and academics – although, naturally, none would be recorded – to provide an overview of the country as it enters this new era.

In the UK, representatives of British workers will gather in Brighton for the annual trade union congress, which was postponed due to the death of Queen Elizabeth II last month. Given the state of the economy and industrial unrest, there will be plenty to discuss. Pensions, the cost of living crisis and the defense of the right to strike are on the agenda.

Economic unrest will be on the agenda of the European Council meeting between EU heads of state, which begins Thursday in Brussels.

Former White House strategist Steve Bannon interviews Kari Lake, the Republican Party’s candidate for governor of Arizona, at the Conservative Political Action Conference in Dallas on August 5 © Shelby Tauber/Reuters

In the United States, the fallout from the Capitol Riot of January 6, 2021 continues. On Friday, Donald Trump’s former political adviser, Steve Bannon, is to be sentenced for contempt of Congress after failing to comply with a subpoena issued by the Commission of Inquiry into the bombing.

Finally, among this week’s anniversaries is a significant one for a British institution as the BBC turns 100. Many people will have an opinion on this. Perhaps it’s time to revisit former FT editor Lionel Barber’s take on a century of ‘Auntie Beeb’.

Economic data

New Zealand releases third quarter consumer price index inflation rate data. UK inflation figures for September are expected to see a further double-digit headline rate hike, while GfK’s confidence reading and retail sales update will likely underline just how drawn a recovery by consumers is unlikely at this time.

The Federal Reserve will release its latest Beige Book on Wednesday, providing commentary on current economic conditions in the United States, and there will be an update on the increasingly fragile US housing market.

China’s monthly activity indicators will most likely illustrate the continued impact of Covid-19 restrictions.


We are in the midst of earnings season, starting the week with the rest of the major Wall Street banks releasing third quarter numbers, followed by a mix of consumer goods, retail, media, airlines and technology. Reporters include third-quarter data from Bank of America, Bank of New York Mellon, Charles Schwab, a half-year report from Naked Wines and a third-quarter operations update from Rio Tinto.

Construction costs are rising at record rates – could a home improvement loan help? Mon, 17 Oct 2022 13:00:00 +0000

New reports from Corelogic’s Cordell Construction Cost Index (CCCI) indicate a record growth rate in home construction costs in the year to September 2022. If you were looking to make changes to your home, you could suffer an unpleasant shock. .

In the 12 months since September 2021, construction costs have increased by 11%. This is a quarterly increase of 4.7%, significantly higher than the 2.4% increase of the previous quarter.

The construction industry has suffered the dramatic effects of inflationwith the Consumer price index (CPI) at a record high. This affected materials like wood and metal, driving up costs for things like housing frames and reinforcement.

So where does this take you? Well, rate hikes might have increased your home loan repayments and made renovations more expensive, but there are ways to make your renovation dream a reality.

How can home improvement loans help you?

You might be used to personal loans for small quantities, but home improvement loans could be an answer to implementing your plans.

At a time when the the housing market is in decline, home renovations can be used to add value to your property. When it comes time to move, you might end up recouping the money you spent on those home renovations.

If you’re looking to make an energy-efficient addition to your home, a green loan might be worth a look. These will offer similar options, but as an incentive to switch to green energy, they may offer lower interest rates.

The national average spent on home renovations, according to information from Suncorp, was $63,188 in 2020. This will likely have increased significantly with rising construction costs. There are over 20 unsecured loans in the Mozo database that allow you to borrow this amount of money, and even more when your loan is secured by property.

We’ve rounded up a few loans to start your search below.

The use of personal loans is on the rise so stay in the know and learn the ins and outs with our guide to easy personal loan. Find exceptional loans with Mozo’s best personal loans.

Money-saving tips to reduce winter energy bills Fri, 07 Oct 2022 11:15:00 +0000

American households could see their energy bills rise in the coming months, as the federal government warned that the price of electricity is likely to continue to rise during the winter.

The U.S. Energy Information Administration forecasts the average price of electricity for residential consumers could reach 15.86 cents per kilowatt hour in the second quarter of 2023, an increase of 5.17% from the second quarter of This year. Electricity prices on average for 2022 are expected to increase by 7.5% compared to 2021.

Energy experts from EnergySage, a Boston-based online marketplace specializing in solar power systems, said Newsweek that prices are up 64% in some states year over year.

National Grid announced plans to increase electric rates in Massachusetts starting Nov. 1: “In total, the monthly bill for a typical residential electric customer using 600 kWh (kilowatt-hours) will increase from $179 to the 2021-2022 winter season at approximately $293. for the 2022-2023 winter season.”

Stock photo of a $100 bill and electricity extension cable. Energy bills may be on the rise, but there are things Americans can do to lower their electric bills, like swapping out old bulbs for LEDs and turning down the thermostat a few degrees in the winter.

More Americans may be worried about the affordability of their bills this winter, as research from online loan market LendingTree showed that 32% have paid a bill late in the past six months, more half using their overdraft to pay essential bills and two-thirds saying they struggle to pay at least one of their bills.

Nick Liberati, communications manager for EnergySage, said: “A number of factors influence how much a typical household could save, such as ongoing upgrades, whether or not to replace a less efficient system, energy prices in your area, where you live, etc.”

But, he added, there are many ways to reduce your household energy consumption and reduce the cost of electricity for your home.

1. Start with a home energy audit

According to Liberati, the best place to start is for homeowners to conduct an energy audit of their home to assess their overall energy consumption and identify energy efficiency measures.

“An energy auditor will assess where your home is losing the most energy, then suggest improvements that will help you save energy and lower your utility bills,” he says.

“And depending on where you live, your energy audit may be free, as many utility companies, nonprofits, or government organizations will cover the cost.”

Some of these programs will not only cover the cost of the audit, but also provide households with energy-efficient products and installations at a significantly reduced price, or even potentially for free, Liberati added.

“Here in Massachusetts, the Mass Save program covered 75% of the cost of my insulation needs.”

2. Insulate your home

Insulation plays a key role in reducing utility bills by trapping heat in the winter and keeping the heat out in the summer. If you have enough money to upgrade your home, you could save on your bills in the long run.

“The level of insulation you need to install depends on the square footage of your home,” Liberati said.

“Your attic, walls, floors, basement and crawl space are the top five areas where you should consider adding insulation.”

3. Join Community Solar

If you’ve been waiting for the excuse to start the switch to renewable energy, Liberati suggests checking out any community solar programs in your area that could help you cut costs for a fraction of the price of installing your own solar panels.

“Community solar allows anyone with an electricity bill to benefit from solar energy and lighten their electricity load without installing anything on their property or changing their consumption habits.

“It works like this: a large-scale solar farm (those big fields of solar panels you’ve seen along highways) feeds electricity into the local grid.”

Homeowners who have projects for which they are eligible can buy some of the electricity produced, usually through a subscription, and receive a reduction on their electricity bills.

Liberati added, “Most community solar subscribers save around 10% on their annual electricity costs, and there’s usually no cost to sign up.”

4. Install solar panels on the roof

Reducing your energy consumption is one thing, but generating your own electricity can reduce your costs even further if you have enough funds to commit to the long-term investment.

“Obviously, this one isn’t as easy or affordable as the others, but installing solar power is one of the smartest ways to save money,” Liberati said.

“Solar panels produce electricity for over 25 years, and the average solar homeowner can pay for their solar investment in just 8-10 years, depending on where you live.

“And thanks to solar loans and the extension of the federal solar tax credit included in the IRA bill, solar is much more accessible than ever.”

Ten ways to reduce your energy consumption

1. Replace your traditional bulbs with efficient LEDs.
2. Install a programmable thermostat or smart meter.
3. Switch to energy-efficient kitchen appliances.
4. Install energy-efficient windows and upgrade your HVAC [heating, ventilation, and air conditioning] system.
5. Wash your clothes in 120°F water instead of 140°F.
6. Perform maintenance checks on your appliances and replace air filters.
7. Eliminate drafts and keep interior doors closed when heating your home.
8. Run your ceiling fans upside down.
9. Do not leave electrical devices on standby overnight.
10. Check your bill to make sure you are paying the correct rates.

Provident Financial plc on ‘sloppy valuation and very good performance’, says fund manager (LON:PFG) Wed, 28 Sep 2022 12:56:28 +0000 Provident Financial plc (LON:PFG) was the subject of conversation when DirectorsTalk sat down with fund manager, Gervais Williams. We asked Gervais which companies have plenty of opportunities in light of current market conditions in The Diverse Income Trust plc’s portfolio.

“Provident Financial, and financial companies in particular, sometimes survive quite well when interest rates rise. They are quite capital intensive. This company really extends personal credit to unconventional lenders – these are people who for some reason don’t have long credit histories and such. The valuation is currently just above five times earnings, which is an unusually cheap valuation for a company with a very strong balance sheet. As this money is generated in the business, it is able to pay a very good return – its yield is around 6.8% (with a share price at 177.0p), quite extraordinary.

So we don’t just see good companies, but also, in our view, companies holding onto very neglected valuations. So there are plenty of opportunities for these in due course, as markets stabilize, as investors start not to worry about the short-term recession or the evolution of interest rates. , so that this type of business not only recovers, but outperforms in the future. ”

Provident Financial plc (LON:PFG) is a specialist bank for UK adults who are not served by traditional lenders. Based in Bradford, England, it specializes in credit cards, online loans and car finance.