Spotlight
Personal loans 101
If you happen to find yourself in a tight spot, borrowing money can help set you back on the right path. However, doing so without a full understanding of the facts can hinder your finances in the future.
If you happen to find yourself in a tight spot, borrowing money can help set you back on the right path. However, doing so without a full understanding of the facts can hinder your finances in the future.
“When faced with a financial emergency, most people don’t think through how borrowing money might affect them down the line,” said Susie Irvine, president and CEO, American Financial Services Association Education Foundation. “With so many options available, it’s relatively easy to get a loan, but the impact on your credit and what it actually costs you over time can vary a great deal.”
The two most common types of small-dollar borrowing are traditional installment loans and payday loans. Knowing the ins and outs of each type of loan and how they work can help you make the best decision for your financial situation.
Traditional installment loans are one of the oldest forms of finance transactions and provide credit to individuals and families who need access to credit to meet an immediate need, such as vehicle repairs, household appliances or medical expenses. Traditional installment loans are “plain vanilla” loans with transparent, easy-to-understand repayment terms, due dates and payment amounts. With regular, manageable payments of principal and interest, the borrower has a clear roadmap out of debt. Best of all, traditional installment lenders report payment activity to credit bureaus, improving a borrower’s credit score when payments are made on time.
Payday loans are repaid in a single balloon payment at the end of the loan period. This payment is usually due in less than 30 days and frequently the term is as short as 14 days. Payday lenders do not assess ability to repay, relying instead on a postdated check or similar access to a borrower’s bank account as assurance the loan will be repaid. If a borrower cannot afford to repay a payday loan in full when it comes due, they are left with no option but to refinance the entire balance of the initial loan. Although payday loans may appear to provide a quick and easy solution, this single, lump-sum payment can lead to significant problems for the borrower. Payday lenders have also been sanctioned in many states, and at the federal level, for abusive practices.
Is an Installment Loan Right for You? When deciding whether to obtain a loan, consider the benefits and responsibilities. According to the American Financial Services Association Education Foundation, an installment loan:
- Obligates future income. You’ll be required to set aside a certain amount of future income for loan payments.
- Requires discipline. Borrowing wisely means not borrowing more than you can handle. Don’t let the thrill of buying obligate you to more than you can afford.
- Makes it possible to meet unexpected expenses. The ability to borrow and make affordable payments can be helpful if an emergency arises that requires extra money.
- Allows you to obtain products and services now and pay for them later. A loan can provide an opportunity to purchase bigger-ticket items and use them right away.
LOAN LANGUAGE
When you take out a loan, it’s important to understand the complete cost of repaying the amount you’ve borrowed. It’s a good idea to compare offers from multiple creditors and understanding these terms will help you calculate the real cost of borrowing to get the best deal.
Here is a list of common loan terms from the American Financial Services Association Education Foundation:
- Amount Financed: The total dollar amount of the credit that is provided to you.
- Annual Percentage Rate or “APR”: A measure of the cost of credit expressed as a yearly rate.
- Credit Insurance: Optional insurance that is designed to repay the debt if the borrower dies or becomes disabled.
- Finance Charge: The dollar amount you pay to use credit.
- Fixed Rate Financing: The interest rate and the payment remains the same over the life of the loan. Equal monthly payments of principal and interest are made until the debt is paid in full.
- Length of Payment: The total number of months you have to pay the credit obligation.
- Late Payment Fee: A fee that is charged when payment is made after its due date.
- Monthly Payment Amount: The dollar amount due each month to repay the credit agreement
KEYS TO CREDIT SUCCESS
The American Financial Services Association Education Foundation offers this advice to help ensure that your interests are protected when you borrow money:
- Budget your money. Provide your monthly spending plan when you meet with creditors. It will help them make a responsible decision about the amount of credit you can afford.
- Don’t overextend. Be sure you can pay back the loan. Don’t bite off more than you can chew.
- Get personal. If possible, borrow from someone you actually can see and talk to in person. Get comfortable with the lender, and let the lender get comfortable with you.
- Shop. Compare costs. Shop for credit like you would shop for anything else.
- Beware of “now or never” offers. If it’s a good deal, it will probably still be there after you’ve had time to think about it. Don’t be pressured into making a quick decision.
- Ask questions. Don’t sign on the line until all your questions have been answered.
- Read the contract. Don’t sign a contract that you don’t understand or has any blanks. A signed contract with blanks can be completed as anyone wishes and it will be legally binding.
- Keep your contract in a safe place. It’s important to keep all paperwork relating to your credit obligations. If questions come up later, you’ll have your agreement in writing.
Make your payments on time and in full. This is one of the best ways to build a good credit history. - Additional products are not required to get a consumer loan. Optional products that may be offered for purchase with your loan include motor club membership, term insurance or warranties.
To learn more about affordable credit options that are available to help you better manage your money, visit installmentloanswork.com.
NewsMakers
Forget materialism, a simple life is happier: research
The commitment to simple living, or ‘voluntary simplicity’ as it is formally known, leads to wellbeing through providing more opportunities for personal interaction and social connection than conventional contexts of exchange, such as community gardens, sharing resources, and peer-to-peer lending platforms.
In an age where billionaires and conspicuous consumption are increasingly on display, new Otago-led research shows a simple life really is a happier life.
The study led by University of Otago – Ōtākou Whakaihu Waka Department of Marketing researchers has recently been published in the Journal of Macromarketing.
After setting out to understand the relationship between consumption and wellbeing, the researchers found people are happier and more satisfied when adopting sustainable lifestyles and resisting the temptations of consumerism.
They analysed data from a representative sample of more than 1000 New Zealanders, made up of 51 per cent men and 49 per cent women, with a median age of 45 and a median annual household income of $50,000.
They found the commitment to simple living, or ‘voluntary simplicity’ as it is formally known, leads to wellbeing through providing more opportunities for personal interaction and social connection than conventional contexts of exchange, such as community gardens, sharing resources, and peer-to-peer lending platforms.
Women are more likely to adopt a simple life than men, although more research is needed to understand why.
Co-author Associate Professor Leah Watkins says consumer culture promotes happiness as being typically associated with high levels of income and the capability it affords to acquire and accumulate material possessions.
“However, research is clear that attitudes to, and experiences of, materialistic approaches to life do not lead to increases in happiness or wellbeing. Nor do they lead to sustainable consumption necessary for planetary health.”
Between 2000 and 2019, global domestic material consumption increased by 66 per cent, tripling since the 1970s to reach 95.1 billion metric tons.
Growing consumer affluence and higher living standards have resulted in warnings of alarming trends of environmental degradation from human consumption.
This, coupled with global warming and post-pandemic health and financial anxieties, has led researchers and policymakers to call for a better understanding of the links between simple consumer lifestyles and wellbeing.
But co-author Professor Rob Aitken says this isn’t a case of just throwing out all your worldly possessions.
“It’s not directly the commitment to material simplicity that leads to wellbeing, but the psychological and emotional need fulfilment that derives from relationships, social connection, community involvement and a sense of living a purposeful and meaningful life.
“In a world where billionaire weddings are treated like state occasions and private yachts are the new status symbols, voluntary simplicity offers a quiet, powerful counter-narrative — one that values enough over excess, connection over consumption, and meaning over materialism.”
NewsMakers
Too much for some, just right for me – The truth about dating while plus-size
What is dating like for a plus-size woman? We don’t get the fairytale, the montage-worthy meet-cute in the bookstore, or the sweet swipe-rights with guys who use words like “connection” and “vibes.” What we get is a mixed bag of awkward encounters, accidental comedy, the occasional ghosting, and sometimes, someone who sees us as the whole damn package.
By: A Curvy Queen Who’s Seen It All
Let me be real with you: dating as a plus-size woman isn’t for the faint of heart. We don’t get the fairytale, the montage-worthy meet-cute in the bookstore, or the sweet swipe-rights with guys who use words like “connection” and “vibes.” What we get is a mixed bag of awkward encounters, accidental comedy, the occasional ghosting, and sometimes, someone who sees us as the whole damn package—not just the size of it.
I’m 33, a size 20, and I live in a city where everyone seems to be on a green juice cleanse or training for a marathon. My idea of a perfect day includes a cheese board, a crime documentary, and wearing something soft and oversized. I’ve been dating online for years now—Tinder, Bumble, Hinge, OkCupid, even a brief stint on Bigger Lover (don’t judge). I’ve had first dates that turned into second dates, and others that ended before the appetizer even came. But through it all, I’ve learned some hard truths about dating while plus-size.
The Fetish Factor
Let’s start with the obvious: there are guys out there who fetishize plus-size women. They love our bodies—but only in private. They send you those thirsty DMs like, “I’ve always had a thing for thick girls.”
I used to think that was a compliment. But it’s not, not when it’s the first thing they lead with, not when you realize they don’t care about your name, your career, or your sense of humor. Just your body.
I once met a guy off Tinder who spent our entire date talking about how much he “loved curves” and how he’d “never dated a big girl before.” He kept asking if I was into feederism (I had to Google it when I got home). I never heard from him again, which was fine—I didn’t need to be someone’s body experiment.
The Grateful Gambit
Then there’s this weird idea that plus-size women are supposed to be grateful for attention, as if someone choosing to date us is some charitable act. It’s subtle sometimes, but oh, it’s there.
I had a guy once tell me, over drinks, “I like girls who are a little bigger. They try harder, you know? They’re just more appreciative.”
I blinked. Tried harder at what? Breathing through my rage?
I wanted to ask him if he’d ever considered that maybe I’m not grateful to be on a date with him either. But instead, I left.
Online Dating – A Love-Hate Situation
The apps are their own beast. My profile is cute, funny, and unapologetically me. I mention that I love bookstores, brunch, and body positivity. I always include full-body pics, because I refuse to trick anyone—but I also refuse to hide.
And still, I get messages like: “You’re actually really pretty for a big girl.”
Sir, would you be willing to grow a personality for someone you really liked?
But it’s not all trash. I’ve had some sweet, genuine conversations and some fun dates. Not every guy is clueless. Some are kind, open, and emotionally intelligent.
The good, the bad, and the big truth
Dating while fat is exhausting. You have to weed through people who want to fix you, people who want to hide you, people who only want to sleep with you, and people who see you as their emotional support girlfriend.
But I’ve also never been more sure of who I am. I’ve learned to ask better questions, to take up space, and to walk away when someone doesn’t see my worth.
I’ve cried after bad dates, yes. I’ve called friends from bathroom stalls and whispered, “Why is this so hard?” But I’ve also danced in my kitchen with someone who made me feel radiant, kissed under streetlights, and been told, with complete sincerity, “You’re the most beautiful woman I’ve ever met.”
The truth is, being plus-size in the dating world means you see people for who they really are, faster. It forces you to develop an inner filter. You learn to walk away without guilt. And when you do meet someone who loves you not in spite of your size but as a part of your magic? It’s that much sweeter.
So to every plus-size woman out there who’s ever felt invisible, unworthy, or too much: you’re not too much. You might just be too real for the wrong person.
Keep showing up. Keep swiping. And keep loving yourself like you deserve to be loved—because trust me, you absolutely do.
NewsMakers
Research suggests drinking coffee may reduce the risk of frailty
Habitual coffee consumption of 4-6 cups and over* (with one cup measuring at 125ml) per day is associated with a reduced risk of frailty.
A new study published in the European Journal of Nutrition has suggested that habitual coffee consumption of 4-6 cups and over* (with one cup measuring at 125ml) per day is associated with a reduced risk of frailty.
The study, funded by the Institute for Scientific Information on Coffee (ISIC) is the first to analyze the relationship between coffee consumption and the underlying components of frailty.
Coffee consumption has previously been linked to reducing the risk of some of the natural symptoms of ageing, such as improving cognitive function2 and mitigating against inflammatory related diseases. This latest research adds to the growing knowledge base within this area, exploring the benefits of regular coffee consumption over an extended period of time.
For this study, researchers conducted a detailed analysis over a long seven-year follow-up period, surveying 1,161 adults aged 55+ years through the Longitudinal Aging Study Amsterdam (LASA).
The relationship between coffee consumption and the presence and incidence of frailty was investigated. Frailty status was evaluated using Fried’s five-component frailty phenotype4,which is defined by the presence of three or more of the following symptoms: weight loss, weakness, exhaustion, slow gait (walking) speed, and low physical activity.
The results of this study indicate that higher habitual coffee consumption is associated with lower overall odds of frailty. These findings can be considered alongside the European Food Safety Authority’s (EFSA) scientific opinion that up to 400mg of caffeine (3-5 cups of coffee) per day is a moderate and safe amount5.
The researchers explain that coffee’s effect on reducing frailty can partly be attributed to the role of antioxidants in coffee, which may help to reduce inflammation, sarcopenia (muscle loss), and prevention of muscle damage. Coffee may also help to improve regulating insulin sensitivity and glucose uptake in older people.
The study’s lead author, Margreet R. Olthof, Associate Professor at the Amsterdam Public Health Research Institute, Vrije Universiteit Amsterdam, commented: “Drinking coffee is a key part of many people’s daily routine, and as people age they are constantly looking for ways to maintain their health. Our findings highlight the possible beneficial association between daily coffee consumption and reduced risk of frailty in later life in the older population. Coffee consumption may thus enhance healthy aging, but it is important we also explore further dietary interventions, to ensure older adults can continue to live fulfilling lives.”
* Moderate coffee consumption can be defined as 3–5 cups per day, based on the European Food Safety Authority’s review of caffeine safety.
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