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4 Tips for Getting a Loan for Dental Work

4 Tips for Getting a Loan for Dental Work

Unfortunately, dental work can be quite expensive, and if you don’t have dental insurance or your insurance doesn’t cover your procedure, you can be put in a pretty difficult situation. And if you’re in pain, you might not have a lot of time to wait to figure out where you’re going to get the money. Thankfully, there are a few techniques to make paying for these expensive procedures a little easier. If you’re considering take out a loan to pay for your dental work, save your wallet and make use of these tips.

Look at Your Budget and Make Sure You Can’t Afford It

Before you apply for a loan, it’s worth checking to see if you’re absolutely sure you can’t afford it otherwise. You may have already gone through all your checkbooks and tallied up all your budgets, but if you haven’t done this yet, it’s worth seeing if there’s anywhere you can tighten your pocketbook.

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If you can, categorize your expenses into wants and needs. Using a budgeting tool such as Mint or You Need a Budget can be helpful if you feel overwhelmed going through your expenses by yourself. Then, it’s as simple as eliminating the non-necessities from your budget. For instance, could you cut out all your entertainment costs for the month to help pay for your dental care? Even if you aren’t able to cover the entire cost of the procedure, you can at least limit the amount of money you need to borrow.

Check if Your Clinic Offers Repayment Plans

Your dental clinic might not expect you to pay the entire lump sum for your procedure right out of pocket. You should check with your dentist to see if there might be a repayment plan that would make paying for your procedure a lot easier. In addition, many dental practices accept government-based aid programs such as Medicaid or the Children’s Health Insurance Program; if you haven’t looked into these programs already, see if you are eligible. It’s worth noting that a repayment plan set up through your clinic probably won’t be reported to a credit union, so while you should make every effort to pay on time each month, you might get a little more leeway than financing through a loan or credit card.

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Even if you are eligible for aid and you’re able to work out a repayment plan with your dental clinic, there might still be some expenses that aren’t covered. While you might need to take out a loan to cover the rest of the costs, at least they will be made a little manageable when spaced out on a monthly basis. In addition, if you share your financial limitations with your clinic, they may be able to suggest lower-cost procedures or prescribe you less expensive medications. In cases such as these, every penny counts, and getting put on a cheaper prescription will help in the long run.

Finance With Your Credit Card or Dental Financing

If you have a credit card, you might be able to get away with putting your dental procedure on the card. Keep in mind that every credit card is different, so you should check your card’s terms and conditions to make sure this is possible, and if so, what the repayment stipulations are. In many cases, credit card companies will offer a 0% APR for the first year or so after signing up for a new card. As long as you’re able to pay off the balance within this time frame, you won’t have to worry about interest, but once you do slip out of this period, you can expect interest rates as high as 20% – or worse.

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If you don’t plan on using a credit card outside of financing your dental work, or you don’t want to get a credit card regardless, there are similar financing options that cater to helping patients pay for their health care. CareCredit is one such financing service, and they offer multiple repayment plans over different time frames. Of course, there are other similar financing service options out there, but if you’re having trouble finding the right one for your needs, talk with your clinic to see if they have partnered with any of these services.

Apply for a Payday Loan

If money is tight and you’re out of time, you can usually turn to a payday loan company for help. Nowadays, you don’t even need to leave your home to get one, as there are many online payday loans you can apply for. The appeal of this option is that it can be one of the quickest ways to get a loan with the fewest hoops you must jump through. Oftentimes, these companies require you to be over the age of 18 and working at a job earning at least $1000 every month. Once you can prove that, you’ll be in the clear for a loan.

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Many payday loans require no credit checks, meaning that you can rest assured that you’ll be able to pay off your expenses no matter where you are financially. Remember, though, that if you can’t afford to pay back the loan, you’ll rack up huge bills of interest and your credit score will be damaged. That said, if you’re confident that you’ll be able to afford the repayments of a payday loan, it might be the option for you. When it comes to health, you don’t want to leave things any later than need be.

Featured photo credit: 6 Ways to Make Sure You Get the Loan You Need via lifehack.org

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Published on July 4, 2018

Top 10 Recommendations on Money Management Apps

Top 10 Recommendations on Money Management Apps

Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

The solution is simple, save more and spend less. But, we all know it’s easier said than done.

One problem is finding quality apps that save you time and money, and aren’t just hype.

Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

1. Personal Capital

    When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

    Here are some of its main features:

    • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
    • Discover hidden fees and how much they’re affecting your retirement plan
    • Wealth management for investors requiring a long-term strategy

    With Personal you’re free to track your expenses and net worth.

    Available for: iOS and Android

    2. Mint

      If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

      Here are some of its main features:

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      • Effortlessly track all your bills and balances in one dashboard
      • Categorized expenses to understand where you spend your money
      • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

      Feel at ease with managing your money by a reputable company that isn’t going anywhere.

      Available for: iOS and Android

      3. YNAB

        Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

        Here are some of its main features:

        • Easily sync all bank accounts in one place
        • Visually see your debt paying progress with eye-catching charts and notifications
        • Customized categories setting saving goals

        The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

        Available for: iOS and Android

        4. Wealthfront

          Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

          Here are some of its main features:

          • Variety of investment account options including IRA, Roth IRA, and more
          • Your portfolio composed of 7 different asset classes
          • Automatically rebalanced portfolio
          • Daily tax loss harvesting

          Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

          Available for: iOS and Android

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          5. Clarity Money

            If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

            Here are some of its main features:

            • Easily cancel subscriptions with one click
            • Synchronize bank accounts fast
            • Transfer money effortlessly between different accounts

            Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

            Available for: iOS and Android

            6. Acorns

              What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

              Here are some of its main features:

              • Automatic contribution option
              • Customized portfolio tailored to your needs
              • Low management fees ranging from $1-$2 per month

              Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

              Available for: iOS and Android

              7. Albert

                Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                Here are some of its main features:

                • Receive notifications for overpayments, hidden fees, and low balances
                • An Automatic budget that’s built around your spending and income
                • Easily track debt and set new financial goals

                While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                Available for: iOS

                8. Prism

                  Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                  Here are some of its main features:

                  • View all your account balances in one glance
                  • Bill due dates are automatically pulled and tracked
                  • Receive early reminders for upcoming bills

                  If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                  Available for: iOS, Android, Windows, Amazon

                  9. Mvelopes

                    Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                    Here are some of its main features:

                    • Connect unlimited bank accounts
                    • Real-time budgeting with auto transaction syncing
                    • Low monthly $4 fee or $40 annual

                    Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                    Available for: iOS and Android

                    10. Wallaby

                      Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                      Here are some of its main features:

                      • Automatic recommendations for the best credit card to use for each transaction
                      • A friendly user interface, displaying credit cards with their corresponding images
                      • Free to use

                      If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                      Available for: iOS and Android

                      Take control of your finances and experience financial freedom

                      Picture yourself staying on budget and saving more money than you’d ever imagined.

                      It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                      You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                      Featured photo credit: Pexels via pexels.com

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