Archive for the ‘Finance’ Category

Payday loans are short-term loans with high interest rates for amounts that have to be repaid within two weeks or in any agreed-upon terms. These loans are also known as cash advance loans and are generally taken by people who are struggling with their month-to-month utility bills, rent, and other expenses that are not getting covered in their wages. Financial experts consider payday loans to be predatory, they tend to trap people in debt as the people who indulge in such loans are those who are in desperate need of money and who lack necessary financial knowledge. The interest rates on these loans are high even though they might look innocent on paper, generally, they charge 25% on every $100 which means if you take a loan of $500, then you might have to pay around $125 extra upon repayment. If you want to know more about payday loans then check out

The following is a list of things that you should take care of before applying for payday loans

A valid id proof

Even though acquiring a payday loan is not a difficult task as these loans can be taken with the most basic of paperwork. A valid id proof or security number is necessary to get cleared for a payday loan.

An active bank account

The borrower should have an active bank account. The bank account will act as evidence that you are an individual who has some sort of income coming through to them, also, the bank account is used as a security for the borrower.

Income proof

The third thing that you need is income proof. It doesn’t matter if you have a bad credit score or are incapable of repayment. All the money lender cares about is that you have some sort of income running so that they can have the first share of your wages whenever the repayment date is due.

An advance cheque

The lender will require you to sign an advance cheque with the due date of repayment. This advance cheque will be used as a security as when the time comes either the borrower can repay the money in cash or the lender can cash in the cheque.

Therefore, an id proof, an active bank account, income proof, and an advance cheque are some of the things that you should take care of before applying for payday loans.

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What is ‘Year To Date – YTD’

Year to date (YTD) refers to the period starting the very first day of the present calendar or financial year approximately the current date. YTD info is useful for analyzing business patterns or comparing performance information, and the acronym often modifies concepts such as investment returns, earnings and net pay.


If somebody uses YTD in reference to a calendar year, he indicates the period of time in between Jan 1 of the existing year and the existing date. If he utilizes YTD in recommendation to a, he implies the amount of time between the very first day of the in concern and the current date. An is an amount of time lasting a year but not beginning on Jan 1, utilized by business, governments and companies for accounting purposes. For example, the federal government observes its from Oct 1 to Sept 30.

Year-to-Date Returns

YTD return describes the amount of revenue made by a financial investment because the first day of the calendar year. Financiers and experts use YTD go back to examine the efficiency of financial investments and portfolios. To determine an investment’s YTD return, subtract its worth on Jan 1 of the existing year from its present worth. Then, divide the difference by the value on Jan 1, and increase the item by 100 to transform it to a portion. For instance, if a portfolio deserved $100,000 on Jan 1, and it’s worth $150,000 today, its YTD return is 50%.

Year-to-Date Incomes

Year-to-date revenues describes the quantity of cash an individual has earned from Jan 1 to the existing date. This quantity typically appears on an employee’s pay stub, in addition to information about Medicare and Social Security withholdings and earnings tax payments. YTD earnings might likewise describe the amount of money an independent specialist or service has made because the beginning of the year. This quantity includes profits minus costs, and small-business owners use YTD revenues to track financial goals and approximate quarterly tax payments.

Year-to-Date Net Pay

Take-home pay is the distinction between worker earnings and the amount of tax kept from those earnings. To determine net pay, workers subtract the tax from the gross pay. YTD net pay appears on lots of income stubs, and this figure includes all of the cash made given that Jan 1 of the existing year minus all of the tax paid.

Month to Date

Month to date (MTD) refers to the period of time in between the 1st of the present month and the present date. For example, if today’s date is May 19, 2016, MTD refers to the amount of time from May 1, 2016 to May 18, 2016. Normally, MTD does not consist of the present date due to the fact that the end of business has not yet took place for that day. This metric is utilized in comparable ways as YTD metrics. Particularly, entrepreneur, investors and people use MTD data to analyze their income, company profits and investment returns for the month so far.

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