Pile of red frog lollies Pile of red frog lollies
Pile of red frog lollies

Some of you may recall reaching to the bottom of the center console scrounging for coins to purchase stale lollies at the local public pool. In retrospect, these are small moments that don’t mean much in the grand scheme of things. Putting away a few cents each week also doesn’t make a big difference in daily spending.

Getting into healthy financial habits can start with an honest review of your bank statements- they won’t lie! Small practices such as putting away any extra cents after a purchase can progress to stronger habits; like saving an extra $5 per day.

Over a year, that equates to $1,825 which could be enough to use as a deposit for a car purchase, to cover flights for a holiday, or to use in the event of an emergency. Nobody ever says that savings aren’t beneficial.

Having surplus funds in your bank accounts demonstrates financial maturity, and a good frame of character. If you’re responsible enough to have a few dollars spare in your account after bills; you’re likely to pay back a loan relatively well. If you find it tricky to project the worth in starting some savings habits, there are tools to help figure out what your goals are. You’ll find most of your questions can be answered through simple research.

Speaking to a Lending Specialist at Ume Loans should be your first port of call if you’re considering applying for a loan, but unsure if your spending habits will suffice. Most customers find it beneficial to hear advice directly from the person who has the capability to give them an approval- after all, they’re the experts, right?

Don’t overcommit to too much too soon; chances are that these habits won’t be maintainable if you’re used to following different spending habits. Start small, and grow your goals in an achievable time frame. Some people find it beneficial to set up a direct transfer to a savings account after their wages or benefits have been deposited. That way, your money is already earning interest before you have time to spend it!

Ume Loans is committed to giving good people a second financial chance. We’re here to understand your situation with the aim to improve your credit file for future benefit, and we have a plethora of suggestions on how to get your savings kickstarted. Speak to a Lending Specialist today, or apply here.