Vernon Davis Net Worth

When it comes to professional sports, each position is paid differently.  This is clearly seen especially with NFL contracts.  Quarterbacks tend to be the highest paid players on the team, followed by receivers and star players at a variety of positions.  Many recognize that tight ends aren’t paid as much as their receiving counterparts, but that hasn’t stopped Vernon Davis of the Washington Redskins.  Vernon Davis net worth sits at $25 million.

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NFL TE Vernon Davis

Davis is an NFL veteran.  The sixth overall pick in the 2006 NFL draft, the tight end from the University of Maryland has made his mark on the league.  Known for his physical strength and prowess, Vernon is now entering his 13th year in the league for 2018.

Upon being drafted in 2006, Vernon Davis’ first contract was valued at $23 million over five seasons.  Right as the 2010 NFL season began, the 49ers and Davis hammered out an extension for an additional five years that would pay the star tight end nearly $37 million.

In the final season of Davis’ contract extension, the San Francisco 49ers traded the tight end to the Denver Broncos.  After spending only a handful of games with the Broncos, Vernon Davis became a free agent.  He eventually would join the Washington Redskins.

2018 will be Vernon Davis’ 13th year in the NFL and his third season with the Redskins.  He is currently in the middle of a three year $15 million contract he signed before the start of the 2017 season.  While this smaller contract is less than half of one of his previous ones, it still is giving a large bump to Vernon Davis net worth.

Upon the conclusion of last season, Davis has racked up nearly $70 million in career on the field earnings in the NFL.  Couple this with some of the advertisement deals he has done, and it is easy to see how Vernon Davis net worth is as high as it is.

A two-time Pro Bowler, Davis has totaled over 7,000 receiving yards and 60 touchdowns during his career.  In fact, after the 2018 season, Davis will have the highest career earnings to date of any tight end.  His earnings will be more than that of Antonio Gates and Tony Gonzalez.

While Vernon Davis will be remembered by most for his career as a 49er, it is how he finishes in Washington that could define his legacy.  If Vernon is able to complete his contract with the Redskins and add more stats to his impressive career, he could easily go into the Hall of Fame.


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Your Financial Horizons: Are ULIPs Risky Investments?

To provide a short answer to the question posed in the title, ulips can be risky investments if you want them to be (more on that soon). However, if you’re the type of person who prefers to take things with a little bit less variance, the policy can be adjusted accordingly. To shed some light on the issue, we’re going to reveal 4 most common types of investments, arranged in the appropriate categories of risk:

  1. High-risk, high-reward

Do you like to live your life on the edge, enjoying every bit of adrenaline rush you can experience? If this is the case, high-risk, high-reward type of ulips is bound to be a good fit for you and your needs. With this insurance, the investment goes toward stocks and equities that are of high risk. On the flipside, should things go well, these yield the highest rewards in general. All in all, this option is only suitable if you like to gamble a bit, and it’s certainly not for the faint of heart.

  1. Medium risk, low-medium reward

Compared to the investment plan listed above, this option is slightly less risky; however, some of the risk is still there. In concrete terms, the investment goes toward government securities, corporate bonds, fixed-income securities, etc. As can be expected, the reward you can expect is correlated to the amount of risk involved. So, if you don’t mind a little bit of a gamble and if you’re prepared to accept a reward of lesser value in return, this option is worth thinking about.

  1. Low risk, low reward

If you don’t have an appetite for risk, you don’t have to partake in risky activities. If this applies to you, consider low risk, low reward investments. Typically, these are cash and bank deposits, market funds, etc. If you choose to go in this direction, it’s worth pointing out that the principal amount is protected. All the while, the very same amount gradually keeps gaining appreciation. It goes without saying that if the risk is low, the reward cannot be any higher, as these things are always proportional to one another.

  1. Balanced

This option can also be described as medium risk, medium reward, and is sort of the middle ground variant you can try if none of the other alternatives seem appealing to you. Most of the people seem to choose this option because it’s stable and relatively predictable, while still giving a reward of reasonable value. This can be achieved by distributing the investment between multiple stocks and equities, thus dividing the risk. Also, some investments have a fixed interest, so you can count on getting at least something out of it.


As you can see, ulips can be risky investments if you want them to be. If you don’t want to have anything to do with variance and risk, there are low-risk options available, but obviously, the reward will be on the lower side as well. Since every person’s needs and circumstances are different, only you can be the judge which one of these options will be the right fit for you.

About AEGON Life

A joint venture between AEGON – world’s leading financial services and Bennett, Coleman & Company – India’s leading media house, AEGON Life Insurance launched its pan-India operations in July 2008. Armed with a vision to be the most recommended new age life insurance Company, AEGON Life adopts the power of global expertise by leveraging digital platforms to bring transparent solutions, and to prioritize customer needs. Our financial planning and investment solutions include term life insurance plans, pension plans, unit-linked insurance plans (ULIPs), health insurance plans, child education plans, and more.

Todd Gurley Net Worth

The idea of being rewarded for your performance is nothing new.  Companies give end of the year bonuses to top-performing employees.  The same can be said in the world of sports.

Todd Gurley is the latest recipient of a reward for his performance.  After three successful seasons in the NFL, Gurley has finally received the large coveted contract.  Todd Gurley net worth sits at $15 million.

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NFL Running Back Todd Gurley

The number ten overall pick in the 2015 NFL draft, Gurley has made an impact in the backfield since his rookie season.  As a rookie, he rushed for over 1100 yards and recorded ten rushing touchdowns.  His performance during the 2015 season earned him the NFL Offensive Rookie of the Year award.

Despite his production taking a substantial dip during the 2016 campaign, he rebounded well last season.  In 2016 he averaged a measly 3.2 yards per rush and recorded only six touchdowns; however, in the 2017 season he rushed for a career high 1,305 yards rushing and a total of 19 touchdowns.

Gurley excelled in his college days at the University of Georgia.  He totaled 36 rushing touchdowns in his three years playing with the Bulldogs.  His freshman year performance earned him First-team All-SEC honors.  He missed a total of four games during his junior season due to violations he received over $3,000 for signed merchandise.

The reason Todd Gurley net worth has shot up to $15 million is due to his recent contract.  In July of 2018, Gurley signed an extension with the Rams worth $57.5 million over four seasons.  This would be the largest yearly average contract for any NFL running back to date.

Back in 2015 when Gurley got drafted in the first round, Todd Gurley net worth got off to a fast start.  He signed a four year contract valued at nearly $14 million.  Included in this contract was a signing bonus worth over $8 million.

Todd Gurley’s recent contract included a signing bonus worth $21 million.  Because the Rams are based in California, Gurley will be on the hook for a large tax bill.  Despite the heavy taxes, if Todd Gurley is able to play through the remainder of his contract, his career NFL earnings will peak at over $80 million.

While most NFL contracts aren’t played to fruition, Gurley’s $45 million guarenteed money will give him an added edge over most.  It is reasonable to expect that Todd Gurley net worth could easily double over the next five years.


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Four Small Business Tweaks That Can Yield Big Rewards

Regardless of the size of the business, any manager wants to improve profitability and this can be possible without making expensive investments or overhauling your current system. Whether you run a small print on demand drop shipping business on a popular e-commerce selling platform like Shopify or own a major corporation with multiple branches around the world, managing a business comes with daunting challenges that will require you to think quickly and strategically.

Sometimes, making small adjustments to your present operations can yield big rewards. Pay attention to these four seemingly minor details in your business, and you may just make significant savings and boost profitability.

Promote Your Brand Online

Internet technology has ushered in an exciting new era where a significant portion of interactions between businesses and clients takes place online. This interaction can range from raising awareness via online ads to after-sales support through email exchange.

The bottom line is that a lot of people spend their time online. In fact, in 2015, it was reported that there are 3.2 billion internet users in the world, according to the International Telecommunication Union.

Business owners should tap into the significant potential of the internet. If you haven’t already, you need to set up social media pages for your business so it becomes easily accessible to your customers.

Online marketing is often more cost-effective than traditional marketing is, plus compared to traditional ads like print ads, online campaigns are easier to track and manage. Case in point, many email marketing platforms let you determine how many times your email promotions were opened and how many of those opened emails converted to clicks.

Conduct Regular Team-Building Activities

Businesses around the world are facing a serious employment-engagement crisis. According to a 2015 survey by Gallup, only 13 percent of employees report being engaged or enthusiastic and committed to the organization they work in.

Low employee engagement can have devastating effects on your business, like decreased productivity, job dissatisfaction, and high turnover. One solution to this is to have team-building programs in place. By conducting team-building activities, you can improve employee morale, establish rapport, and promote a culture of unity and teamwork.

If you have the time and manpower, you can have an in-house team assigned to create and implement various programs to promote employee engagement. On the other hand, you can also opt to hire an external human resource firm that offers team-building programs. Either way, the important thing is you identify what goals you want to achieve with the activity and come up with the most effective strategies to achieve them.

Invest in the Right People

Business magnate, best-selling author, and philanthropist Richard Branson wisely said, “Take care of your employees and your employees will take care of your business.” You will not be able to effectively take care of your workers if you do not hire the right people in the first place.

When you hire the right people, you are investing your hard-earned capital on a workforce that is willing to stay with you for the long term. On the other hand, if you cut corners and hire unqualified candidates, you may end up with an inefficient team or disloyal employees who have a high risk of leaving your company even if you haven’t maximized the training and resources you invested on them.

There are a number of ways to make sure that you get the right people. One is to fine-tune your hiring process by making job descriptions as specific as possible. Identify the tasks you need to get done, and match them up with the appropriate core skills.

Second, make sure you have screening procedures that will gauge an employee’s competence and qualification. Depending on the nature of the job, these can range from basic drug tests to complex psychological interviews.

Make Immediate Special Offers during Sales

Make cross-selling and upselling a language of your sales team. Upselling happens when customers are encouraged to purchase a product that is comparable to and more valuable than the one that they were previously interested in. An example would be a car salesman promoting a newer car model with more sophisticated features to a shopper showing interest in an older car.

Meanwhile, cross-selling involves promoting a product that will complement the item that the customer is planning to purchase, like offering phone cases and accessories to someone purchasing a new mobile phone.

These two sales strategies offer mutual benefits for you and the customer. The trick is to find a way to seamlessly integrate them into your current sales funnel. For instance, if you run an online store, you can implement this strategy by making special upsell or cross-sell offers before the checkout process.

For brick-and-mortar stores, staff should undergo comprehensive training not just to improve their knowledge of your different products and services but also their understanding of customer behavior and needs.

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Escaping the Paycheck to Paycheck Cycle

Nobody wants to live paycheck to paycheck, yet so many people are struggling to make ends meet. It’s hard to escape the cycle of having just enough funds to get by and not enough to build your savings. While you might have enough to pay for rent this month, not having any savings can get you in a bad situation fast if something goes wrong.

Escaping the paycheck to paycheck cycle isn’t always easy, especially if you don’t know where to start. It’s impossible to save if you barely have enough money as it, so how do you break this habit. If you don’t make a change soon, you’re going to hit a wall and run out of money eventually. It’s not about stretching your paycheck just long enough to make your next payment. It’s about learning new financial habits that free you from this cycle altogether. This guide will discuss real steps to take today to break up with your bad money habits.

Image via Unsplash

Step 1: Create a Savings Plan

Before you do anything, create a savings plan. No matter how old or young you are, you need to save. In theory, you should have enough money in your savings to cover a few months of living expenses. This is a best-case scenario and isn’t realistic for your first big milestone. However, you should aim to save at least $500 in a separate savings account.

This money isn’t for your next vacation or the latest gaming system. It’s for emergencies. It’s in case you lose your job suddenly, your car breaks down, or something else unexpected happens. When an emergency occurs and you don’t have a savings account, you’re left using credit cards or loans to cover these costs which only digs you further into debt.

To keep yourself in check, set up automatic payments every time you get paid and allocate some funds into your savings account. It doesn’t have to be a lot at first, just start with what you can. If possible, don’t get a debit card for this account so you aren’t tempted to spend the money on other things. Saving is your ticket out of living paycheck to paycheck.

Step 2: Commit to Cash

Let’s face it: spending with cards is easy. It’s all too easy to swipe your credit card for lunch every day or drinks at the bar. It’s a lot harder to part with cash. When you’re relying on your credit cards and debit cards for spending, you’re disconnected from the process. You don’t realize just how much you’re spending until the money is already long gone.

Create a cash budget and stick to it. First, list out your bills every month. These are things you must pay like rent, transportation, utilities, etc. Then, only use cash for everything else. If you go out for lunch, pay cash. If you buy something new, pay only in cash. This forces you to really pay attention to how much money you’re parting from every month. Freeing yourself from cards also means you need to free yourself from payday loans. If you don’t have the money in cash, you don’t have the money at all.

Image via Unsplash

Step 3: Find Extra Income

If you’re unable to stretch your paycheck into your savings, you aren’t bringing in enough income. This isn’t an easy time to work your way up in the job market. It’s competitive out there, and it makes sense to struggle from time to time. That doesn’t mean you can’t bring in more sources of income on your own outside of your 9-5 job.

The gig market is in full swing in 2018, and there’s no excuse not to have a side hustle today. You can start your own business if you have the expertise to offer through freelancing or consulting. Starting this kind of freelance job is as easy as setting up your own website and prospecting clients.

If you don’t have the time to commit to freelancing, you still have options. Platforms like TaskRabbit let you complete tasks for others in your community for a rate. If you have a car, you can drive with Uber or deliver food with Postmates. You can make money in your free time if you’re willing to put in the extra work.

Step 4: Downsize Your Expenses

You should always try to live below means, especially if you’re struggling to make ends meet. While you don’t have to sacrifice everything in your life, you do need to cut costs when you can. Look carefully at what you pay for every month. Are you devoting 70% of your income towards rent? Consider downsizing to a smaller place once your lease ends or getting a roommate to split costs. Are you spending a ton on your phone bill? Look into pay-as-you-go plans to stop overspending.

Even learning to downsize for a few months to a year can be just what you need to get your money back on track. If you’re not sure where to begin, do a money reset. This means halting all unnecessary spending for at least a week to reevaluate your outgoing money. Eat through the rest of your kitchen before going shopping for groceries. Skip expensive weekend activities and look for free events in your city. You might realize it’s easier than you thought to cut costs.

Earn Your Life Back

Living paycheck to paycheck is hardly living at all. Not knowing if you’ll be able to make ends meet from one month to the next is exhausting. You owe it to yourself to get your finances back in order so you can start moving forward. Is living below your means so hard if it means you’ll have more financial freedom a year from now? Can you use cash for a few weeks to cut your spending? These small things make a big difference in your financial wellness, and your bank account will thank you.


4 Things to Know Before Ever Getting a Loan

Every single year, millions and millions of americans rely on loans to do everything from a buy home, to consolidate debt, to get cars and so much more. Loans are appealing for the fact that they can provide you with a lot of capital quickly, that you wouldn’t have had access to otherwise.

However, while they are helpful, loans are a large source of the over $13 trillion dollars that Americans have in household debt. As a result, you need to be smart when going for loans, as if you’re not, you could potentially find yourself in a lot of financial trouble. This article will go over four things you need to be aware of before getting a loan.

Ask a Lot of Questions and Do Your Research

Of course, the first thing to do is do your research. You need to know the ins and outs of the lending world and with so many options, you need to educate yourself about them, to decide which one works best for your situation. You need to be sure to read and ask lots of questions before you ever take a loan.

The last thing you want to do is enter into a multi-thousand dollar loan without knowing what to expect. Your research can consist of talking to friends, family and lenders, but the internet is also full of great resources to help you fully understand a loan before securing one.

Know How Much It Will Really Cost You

When you get a loan for $10,000, you need to be aware that you simply won’t repay the $10,000 and be free, in most cases. Over time, your loan will cost more and you need to be ready for that. Sure, the interest rate is a good indication of how much you will spend overall, but it isn’t the only thing to consider.

Many lenders will attach hidden fees or other costs to their loans, that you might not expect. If you do not account for these when getting a loan, the deal you get might not end up being as good as you thought it was. These can include an origination fee, a late payment fee, a prepayment penalty and more.

Know How Much You Need and How Much You Can Afford

Before ever meeting with a lender, you need to be sure to figure out what size of a loan you need. While it can be tempting to secure a loan that is larger than you need (especially if you can get a low interest rate), that will just end with you paying back more than you needed to in the long run.

In addition to that, you need to calculate how much of a payment you can afford each month. Budgeting effectively will help to figure this out. Once you are locked in a loan, you are locked in, so ensure you will be able to afford it throughout the lifetime of the loan.

Be Aware Of Your Credit Situation

Your credit will have a huge impact on not only how large of a loan you will be able to get, but also the interest rate you will be able to get. The higher your score, and cleaner your credit report is, the lower your interest rate will likely be.

So instead of applying for loans willy nilly, you should be sure to check your score and report to make sure everything is in good standing. It could save you a ton of money in the long run and checking your credit doesn’t take very long at all.

In conclusion, if you know all of things we covered in this article, you will be ready to go out there and secure a loan.


Garrett Temple Net Worth

Moving across the country is never easy, but when you have an $8 million salary attached to the move it makes things much easier.  Garrett Temple is the latest NBA player to be affected from an offseason trade.  Although he spent his last two seasons with the Sacramento Kings, he will now be a member of the Memphis Grizzlies.  Garrett Temple net worth sits at $4 million.

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NBA Player Garrett Temple

An eight year NBA veteran, at 32, Temple is considered to be old in NBA years.  The Memphis Grizzlies will be the seventh different NBA team he has played for during his career.

Temple spent the entirety of his last two seasons playing for the Kings.  Although he would occasionally have a starting role, more often than not he came off the bench.  This past season he set a career high in points per game for a season, averaging 8.4 in each contest.  At 6’6″ and 200 pounds, he plays the small forward position, the same as LeBron James.

Garrett Temple net worth didn’t start to climb until recently.  In each of the last two seasons, he made $8 million per year.  Additionally, during this upcoming season, he is also scheduled to make the same amount.

Before the 2016-2017 NBA season began, Temple saw his career slowly fading.  He was getting short one and two year contracts barely valued at $1 million per season.  However, during the summer of 2016 that all changed.  In July of 2016, Temple finally hit the payday he had been hoping for.  He signed a three year contract with Sacramento valued at $24 million.  It is this contract that has helped his net worth climb past the seven figure mark.

Despite earning more than $20 million in on the court earnings through his career, Temple’s net worth has been impacted negatively by high California taxes.  In each of the last two years, he was in California’s highest income tax bracket due to his large contract.

There is some good news about Garrett Temple moving to Memphis.  The state of Tennessee does not have state income tax, thus he can expect to keep a bit more of his paycheck.  Since California’s highest state income tax bracket is 13.3%, Temple will be able to pocket hundreds of thousands more by his move to The Volunteer State.

Even though Temple is entering the final season of his current contract, if he can produce this season for the Grizzlies he might be due for another big payday.  In essence, a solid performance means that Garrett Temple net worth can continue to climb.






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Blake Snell’s Net Worth

With the 2018 MLB All-Star game less than a week away, many players are preparing for some much needed mid-season R&R.  While being elected to the All-Star game is a huge honor, for those who don’t make it, they get to sit at home and relax while teams take time off.

Blake Snell is a pitcher for the Tampa Bay Rays and has a 12-4 record on the season.  He was not elected to this upcoming All-Star game which has many crying “foul”.  Blake Snell’s net worth currently sits at $750k.

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Rays Pitcher, Blake Snell

Snell is currently in the middle of his third season in the MLB.  All three of those years have come with the Rays organization.  A 52nd overall pick in the 2011 MLB draft, it took Snell quite some time to work his way up to the majors.  With that being said, Snell is currently having the best year of his young career.

Blake currently leads Tampa Bay with the most wins, strikeouts, and lowest ERA of any member of its pitching staff.  His 12 wins through the first half of the season is more than he had the previous two seasons combined.  Additionally, his ERA (Earned Run Average) currently sits just above 2.00.

While Snell is currently outperforming pitchers who are paid 50 times his salary, we will have to wait a little longer before Blake Snell’s net worth can shoot up.  At 25 years of age, Snell is currently making just over $500k for the 2018 season.

When he signed his first contract back in 2011 with Tampa Bay, he received a signing bonus that was nearly $700k.  The past three seasons in the majors have really helped to boost Blake Snell’s net worth.  While minor league salaries don’t offer much, a season in the majors yields hundreds of thousands at a minimum.

More than likely, Snell will play with the Rays again for the 2019 season.  However, after this season, he could be likely due for a big payday.  The Rays will try to avoid arbitration with their young pitcher.  Avoiding arbitration almost always equates to a hefty contract.

At 6′ 5″ he is a big presence on the mound.  He is originally from Washington state and went on to play college ball at the University of Washington.  The domination he displayed during his senior year is one of the reasons he was drafted as high as he was.

While Blake is still young and has many years left to pitch professionally, one can only wonder how he feels about making a fraction of what current pitching greats are earning.  Patience and top play are the only things Blake can control as he hopes to one day sign a large contract and jump shot his net worth.


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DeAndre Jordan’s Net Worth

Can you imagine having a yearly salary in excess of $20 million?  The reality is that most of us cannot.  The only way we believe such a feat can be achieved is through winning the lottery.

DeAndre Jordan is one of the latest athletes to sign a contract that will pay him in excess of $20 million in annual salary.  DeAndre Jordan’s net worth sits at $35 million.

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Mavs Center, DeAndre Jordan

After spending the first ten seasons of his NBA career in Los Angeles, DeAndre Jordan has found a new home.  He recently signed a one year contract with the Dallas Mavericks worth $22.9 million.

Jordan, who is originally from Texas, is a force to be reckoned with at the center position.  Last season with the Clippers, Jordan averaged 12 points and over 15 rebounds per game.  The Mavs are hoping his play at center can propel them to more than the 24 victories they achieved last season.

DeAndre Jordan was drafted in the second round of the 2008 NBA draft by the Los Angeles Clippers.  After coming off the bench his first two seasons, he eventually earned himself a starting role in the lineup.  In 2016, he was selected to the All-NBA 1st Team.  Additionally, he was selected to the All-Defensive 1st Team in both the 2015 and 2016 NBA seasons.

With his ever increasing performance on the court, his bank account has followed suit.  In 2011, Jordan signed a four year $43 million extension with the Clippers.  This would help to quickly rise DeAndre Jordan’s net worth.  Following the completion of that contract, Jordan more than doubled his pay by signing a four year contract valued at over $87 million.

Jordan’s most recent contract he signed with the Mavericks for the 2018-2019 NBA season will bring his career on the court earnings to nearly $130 million.  If he is able to perform well, he could be rewarded handsomely with another large contract for multiple years.

In 2016, DeAndre Jordan was part of the USA Men’s Basketball team that won a gold at the 2016 Olympics in Rio.  He would channel that success the following year on the court.  In 2016-2017 he tied his career high in points per game and also set a personal best in field goal percentage.  He’d later build on that success and just last season improved his rebounding as well as his free throw shooting.

Jordan is expected to bring some much needed help to a Dallas team that is looking to be more physical.  If he can improve the play of the team, DeAndre Jordan’s net worth could see another increase in the near future.






Secured or Unsecured: Do You Know Which Loan Type You can Quality for?

Personal loans may seem complicated, but they don’t really have to be. Generally, they fall into one of the two categories; either secured or unsecured. The main difference between them is that with secured loans, something you own is taken as security that protects the lender in a non-payment scenario. But what else is there to know about these two predominant types of loans?

Secured loans offer the least risk to lenders

Due to this, they are also easier to qualify for, even if you don’t exactly have a shining credit score. However, if you do decide to take one, you’re going to be asked to offer something of value that can be used as non-payment security. For example, a suitable asset you can offer is real estate deed, which the lender will hold until the point of you repaying the debt.

If you don’t repay your secured loan, the lender can sell the item of value. That way, they can recuperate the losses. Typically, the item of value is an extra vehicle your own, your house, etc.

Are you seeking lower interest rates? Then secured loans are a great option to consider!

Even though the interest rates of secured loans are generally on the lower side, it’s important to keep in mind that they are mostly meant for larger purchases (like paying for a new house). People can easily end up paying them back for decades to come, and in some cases, even for the remainder of their lives. Therefore, even though the interest is lower per se, it could easily reach a grand total that’s higher than all the other options in the long run.

If you’re not comfortable risking an item of value, unsecured loans may be right for you

On the flipside, don’t be surprised if you won’t be able to get approved just like that; a stellar credit score is needed. It’s quite simple to understand why that is – basically, the lender is trying to manage the risk as efficiently as possible, meaning that the lower the applicant’s credit score, the riskier it gets to do business with them.

Interest rates are another aspect where this shows, as they will generally be on the higher side – much higher in comparison. Unsecured loans are also known for their not-as-favorable terms.

Unsecured loans usually involve smaller amounts of money

As a general rule of thumb, they are under $5000, and people tend to use them to pay for their studies, a personal vehicle, to renovate their homes, make small repairs, etc. There is another reason for this; the less money there is at stake, the less risk the lender is subjected to, so it’s easy to see why lenders are not often willing to approve more than the said amount as a loan. In other words, that number didn’t come out of the blue.

What to do if you don’t own anything of value and your credit score is not exactly something to write home about?

Not owning anything of value makes you ineligible for a secured loan, and a less than stellar credit score will make it harder for you to get approved for an unsecured loan. This can be a tricky situation to find yourself in, but luckily, there is an answer.

Without making it too complicated, basically, you need to find someone with a better credit score to cosign the loan. That way, should things go sideways and you find yourself unable to make payments, the cosigner would be held responsible.

Understandably, this option is not ideal, since it puts a lot of pressure on the cosigner. Therefore, you should always exhaust your other options prior to getting them involved (even if they are your close friends or relatives).

The consequences of not being able to make your payments on time

Since you’re already familiar with their main differences, let’s take a look at their similarities. If you allow yourself to get sloppy with your payments and don’t make them on time, the consequences are going to be visible not only on your credit score, but in your repayment history as well.

Again, don’t take these matters lightly, because being 30 days late with your payment can dramatically lower your credit score. If your payment is 150 days late, expect to be reported to the credit bureau.

If this was a secured loan, you can very well kiss your collateral items goodbye. You don’t want things to come to this point, as debt collectors can get involved, you can get sued, and all sorts of other unpleasant complications can take place. Therefore, it’s best to have some sort of steady income so you’ll be able to make your payments on time with zero problems.

What’s the final verdict?

Quite frankly, there isn’t any. It all depends on your unique circumstances and the situation you’re in.

The conventional wisdom dictates that you should only get a loan if you can’t raise the funds needed in any other way, and that you should only get a secured loan if you have money coming in on a regular basis. Alternatively, being prepared to lose the collateral item is another way to deal with it, but surely, it’s not what anyone would recommend.

It’s also a good idea to do some research on the lender you’re interested in working with. Are they reliable when it comes to fulfilling their part of the deal? Are their terms reasonable? Learning what other people have to say about them will also help you make a better decision. In order to check out the ratings, reviews, and additional details, visit for more information and helpful tips or simply do it the good old way by firing up a search engine of your choice and sifting through the search results manually.


Being able to manage your monthly payments comes down to how well you can handle your personal finances. Can you resist the temptation to go on a spending spree and only treat yourself to something nice when you can afford it? Whether you choose a secured or an unsecured loan, these are the qualities you’re going to need in order to prevent things from going out of hand.