What is the criteria for a personal loan?

I have received numerous e-mails from readers asking about the eligibility criteria for a personal loan. There is no straight answer to this question as all financial institutions have different screening processes.  There are no two people alike, and the same thing happens to financial situations. The market offers an incredible variety of financial products and thousands of applicants apply for them every day, thousands of incredibly varied applicants. Is there any particular factor which might trigger a lender’s desire to fund a person’s project? You might be thinking that this question can easily be answered in two words: “good credit”. But that is not all, the percentage of loan applicants with good credit is lower than you might think. Before the credit bust, having a high credit score virtually guaranteed the applicant a loan. Nowadays, numerous other aspects, such as assets, employment, salary, and age are taken into account.  Read more...

Is Investing in Gold a Good Idea?

The price of gold hit $1,100 an ounce today on signs of a weakening dollar. With the stock market as volatile as ever with the coming end of a bullish market, many investors are thinking about buying gold. Gold has always outperformed other commodities during times of economic uncertainty and this “super-recession” is no different.

Here are some things to consider in order to understand if buying gold is the best idea for you:  Read more...