St James Lending
Your guide to borrowing, spending and saving money.

The Smart Man’s Choice When It Comes To Using Saved Up Money

If you’ve had a bit of discipline when it comes to spending money and have properly budgeted your monthly income, chances are that you have a decent savings account. While having money saved up is always useful, using it to your advantage and doing so smartly can make your life much more enjoyable. So, what should you do with the money that you’ve saved up?

Unfortunately, answering this question can often be just as difficult as going through life without having any money at all. This is mostly due to the fact that the larger the sum that you’ve saved up, the bigger the responsibility will be. Not touching your savings account is always an option, however, it would cause you to miss a lot of financial opportunities in the long run.

This having been said, properly using the money that you’ve worked hard to put aside demands a bit of careful planning and research. Here is what you need to know:

Do not waste the money

The most important thing is to not waste the money that you’ve saved. In other words, do your best not to spend it on products that have a short lifetime, such as a car, phones, computers, or premium home appliances. Instead, look for ways to make the money work for you. This can be done in a variety of ways, ranging from investing in one or more companies to purchasing property or making your current payday loans more affordable.

Use it to clear any outstanding debt that you might have

One of the first things that you should do with the money that you’ve saved is clear any outstanding debt that you might have. Start with your most expensive loans. Chances are that these also have the largest penalties if you miss a monthly payment.

You should also consider the possibility of using your savings to repay small personal loans or to at least make a few additional payments. This will help you in the long run and, even if it will cost you money now, you will more financial freedom in the future.

There are many different ways to invest your savings.

Look for reliable ways to invest your savings

Another way to use the money that you’ve saved is to invest in a company or real estate. Depending on how much money you have put aside, you may be able to go to a financial adviser and ask to be presented with an investment portfolio. This will allow you to directly invest in a company, which will increase your capital over time.

It is also possible to buy shares from public companies that you expect will grow in the following years. Generally speaking, the best choices here are companies that own online services or that manufacture and sell smart devices.

Lastly, the money can also be used to purchase properties that are expected to grow in value. A good idea is to look for undervalued homes located in neighbourhoods

Do not spend everything that you’ve put aside

Regardless of what you choose to do with your savings, never use up all of the money. Keeping a fraction of it ensures that you will always be able to pay for medical procedures and treatments, or other unexpected expenses.

When considering how to use your savings, set a percentage of the amount that would be enough to pay for a couple of months worth of expenses. Then, leave this amount of money untouched and only use the rest. This ensures that you will always have money to fall back on in case of an emergency.


Saving money takes time, effort and discipline. As a result, you should only use your savings after you research all of your options and decide which one is most profitable. Although there is nothing stopping you from using a fraction of it in order to buy the things that you’ve always wanted, try to use the majority of your savings to in a way that will either preserve the money or increase the total amount.

Top Reasons Why Businessmen Prefer Short Term Loans

If you are a business owner, you would have experienced a dire need for cash to keep your business alive. Acquisition of more stocks, hiring of employees, and expansion of business require more funds. If you do not have money on hand, finding some means to be able to finance your business operations is the best option. Fortunately, if you live in the UK, many lending companies offer loans, both long term and short term. However, most business operators prefer to take a short term loan to augment their capital. Here are the reasons why businesses in the UK prefer to make short term loans.

Quick Approval

Short term loans get fast approval. As soon as the borrower has submitted his documents, the processing starts. Approval can take a few minutes to a few hours, and the lender releases the loan within the day. The borrower would be able to have the amount for the augmentation of his capital.

Short-term Debt

Taking a short-term loan means having short-term debt. The borrower would be able to repay the amount he borrowed plus the interest in just a few months. Because you must repay the loan within a short period, you would be paying less annual percentage rate. Repaying a long-term debt could seem to take forever. With a short term loan, you do not have to worry about your liability for long because you must repay it after a few months.

Less Cost

Short repayment scheme would cost less than long ones. Instead of paying interest for a few years, you can pay back your debt after a few months. The interest rate for small loans may be high, but because you only pay for a few months, the total charges would be lower than borrowing the same amount that is payable within three to five years. A short payment period would also allow you to manage your finances well so that you would not suffer from the long-term impact of a long-term loan.

Improved Credit Rating

With short-term loans, your full repayment after three or six months would show in your credit record and enhance your rating; unlike when you take a long-term investment in which full payment would reflect on your credit score after those years. Remember that a good credit rating would make it easier for you to apply for other loan types that offer a low-interest rate and comfortable repayment scheme.

Facilitates Business Growth

With enough funds to increase inventory, hire additional employees, and expand, your company would be able to grow continuously. All businesses owners dream of building their firms quickly, but this would require having the cash to finance all your plans. If you do not have the financing you need to grow your business, it is time to shop around for the best short-term loan provider.

Save Your Business

When difficult times come, and your business faces some difficulties, the need for more cash to keep afloat becomes essential. A short term loan can save your business from going down because you can have it immediately. There are instances when a delay of a few days can lead to your financial ruin. Taking a short term loan can lead to the quick recovery of your business.

Help Deal with Seasonal Change

Most businesses have their high season and low season. During high season, you would need cash to increase inventory to meet the demand while during low season, you would need financial help to keep your business survive. A short term loan can be of great value during these times.

For business operators, a short term loan is the best option when you need cash to enhance your capital and realise your business growth goals.

When Is The Best Time To Invest? Essential Tips to Help You Start Investing Money While In Your 20s

One of the best ways to increase your income and long-term savings is to invest your hard-earned money and allow it to work for you. The recent developments in web-based apps and services have made it easier than ever to invest money in companies or to buy shares.

Unfortunately, investing money is often a serious commitment. This is due to the fact that for an investment to be profitable, it must have a minimum duration of 5 years. Furthermore, you need to put a considerable amount of money into a company in order to see a notable amount of profit. In other words, investing money can be hard if you do not have your financial life well-organised and a relatively large savings account.

This having been said, there are ways to invest money, even if you are in your 20’s and have just finished your studies. However, you need to plan things carefully and have a lot of discipline when it comes to how you spend your money.

Wait for the right time to start investing

Investing your money does not require that you have a large amount of money at your disposal. Certain types of investments can be done little by little. However, it is important that you wait until you have the financial stability required to invest money.

  • Have a stable source of income – Whether you have a traditional job or are a content creator, make sure that you have a stable source of income (preferably constant) before investing money. This will allow you to budget your finances and determine exactly how much money you can afford to lose (investing money is basically a calculated bet and does come with certain risks);
  • Pay off your debt – You should first pay off any student loans or other debt that you may have. Invest money only when you no longer have any considerable monthly payments that need to be paid;
  • Create a proper monthly budget – Look at how much money you earn each month and determine what portion of your income will have to go on regular expenses. This should include food, clothes, medical treatments, rent, and debt payments. Everything that remains should be safe to use as investment capital;
  • Save money for a couple of months – Save money for 5-6 months before investing in a company or buying shares. Having a larger amount of money at your disposal will open up additional investment possibilities. For example, if you have saved £2000-£2500 over the course of 6 months, you can invest it using a Robo adviser and use all the “left-over money” from the next months in order to buy shares, one at a time;
Getting started with investments is easier than you think.

Prioritise your expenses and do not neglect other money-saving strategies

It is never a good idea to invest all of your life’s savings in one or more companies. It is also not recommended to neglect other money-saving strategies in favour of investing. In other words, do not use the money that should go into a savings account as capital for investment. Savings accounts are risk-free, while financial investments are essentially calculated bets. First make sure that you deposit money in a savings account (ensuring that you can never lose it), and only then invest in a company.

Be smart about how you invest your money If you do not like risk, especially when it comes to money, your best bet is to buy shares from multiple companies. Depending on how much money you have left after your monthly budget, it should be possible to buy even a single share from 5-6 companies. Keep in mind that only the end-game matters when it comes to investing. Buying 5-6 shares per month may not seem like much, but after 5-10 years, you should have enough to earn a lot of money from selling them.

How To Ensure Payday Loan Approval?

Have you ever experienced being in a tight financial situation? You might have been able to manage your finances well, but there are emergencies that may require expenses that you cannot afford. For regular employees, getting a payday loan is the best option to resolve money problems. However, having a regular job is not the only requirement. Lenders would ask for other documents to make sure that you have the capability to repay your loan. Here are some tips to get fast and easy payday loan approval in the United Kingdom.

Check the Lending Criteria

Before applying for a payday loan, read the criteria first. If you do not meet the requirements, lenders will not approve your application. The criteria common to all lenders include:

  • Employment
  • Residency in the UK
  • Can afford the loan repayment.
  • Can pass form for identity, fraud, and credit checks.
  • Must pay existing loans first before applying for payday loan

Have a Good Credit Rating

Lenders in the UK have their own way of determining your capacity to pay for a loan and your credit history. People who had never borrowed money from any financial institutions and used a credit card may have low credit rating because they do not have any credit history. Having unpaid debts or delayed payments can make your credit rating go down to a level that would never qualify you for ay loans. If you already have a file of your borrowing history, check to make sure that the entries are correct. Wrong data especially on your loan payments can lead to disapproval of your loan. Being a registered voter can make it easy for lending institutions to verify your identity and address. This would facilitate quick loan approval.

Shop Around for the Right Lender

Not all lending companies require the same documents and offer the same products. The first thing to consider is the minimum requirements. Make sure that you have all the requirements before you submit your application. Incomplete documents can lead to rejection, which can appear in your credit record and reduce your chances of getting a loan in the future.

Have a Good Reason for the Loan    

Payday loan lenders seldom ask why you need to borrow money. However, if ever they ask, you must give a good answer. If you say you would use the credit to make some home improvements or to have a vacation, the lender might not approve your application.

Borrow Just Enough for What You Need 

Borrowing more than what you need could be tempting but remember that getting a small loan has its benefits. A small loan can get quick approval. You would pay small interest and you could avoid delayed payments.  Aside from resolving your money problem, a small loan could help improve your credit standing so that you can borrow money easily in the future.

Submit Valid Documents

Make sure that the documents that you submit are verifiable. Some lenders may ask for a copy of your pay slip, your employment certificate, or your tax return. Keep them handy so that you can furnish the lender copies if they ask. Financing firms can access your bank account as part of the assessment process.

Have a Guarantor

You can ask a close friend or family member to be a guarantor of the loan. Lending companies would feel safe because if you default, your guarantor would be the one to pay for your credit. Your guarantor must have better financial standing, must own his home, and must have a good credit rating.

If you are in dire need, consider these tips in ensuring quick loan approval and release. Making sure that you have all the requirements at hand would save you from rejection and stress.

The Smart Way to Invest Your Money – Effective Ways to Make Your Money Work for You

As you go through life and keep saving money, you will probably reach a point when you will look at your bank account and start looking for ways to put your savings to good use. Most individuals are usually only concerned with saving money for their retirement, in order to ensure that they will be able to afford anything that they could wish for, during their later years. As the years pass, they make regular deposits, however, they never consider how that money could be actually be put to work.

To this day, the easiest way to increase your savings without actively working for it is to invest the money. Unfortunately, this course of action often comes risks, especially if you do not know what you’re doing. While some financial counsellors and brokers can help you put your money to good use, their services are not particularly affordable. In other words, knowing how to invest your money is one of the most important pieces of information that you can get because it will allow you to increase your savings without having to surrender control over them.

This having been said, here are the most important concepts and practices to keep in mind when it comes to investing your money:

What does it mean to invest money?

The actual act of investing money is essentially a bet. You take a sum of money and give it to a company, for a set number of years. After that time passes, you will either get more or less money than what you invested, based on how the company has evolved.

This may sound complicated and scary, but it is actually relatively safe, especially if you know what you’re doing. The two most important things when it comes to investing money is to never invest more than you can afford and to always make informed decisions. Most online investment platforms offer all the information that you need in order to choose a good company to invest in, you simply have to use it.

How much money should you invest and for how long?

Generally speaking, you should never invest more than you can afford. For example, never invest all of your money in a single place or at once. Instead, decide how much you can lose without any major consequences and invest that amount of money. As for how many companies to invest in, it depends on how many risks you are willing to take. It is usually better to calculate how much money you can afford to lose and to the amount between several companies. This will minimise the risk, so if a company that you invest in goes bankrupt, you will only lose a fraction of what you’ve invested.

When it comes to the duration of an investment, the golden rule is to aim for a minimum of five years. This will ensure that even if a company has one or two rough years, it will still have time to get back on track, resulting in you getting a larger return on your investment.

The main investment routes that you can go down

There are three main ways to invest your money:

  • Use a Robo adviser – These are online virtual counsellors that are powered by AI technology. They are tasked with going through thousands of permutations in order to find the best possible investment options for your money. The fees that most Robo advisers charge are usually under 1% of the total value of the investment;
  • Pay for the services of a financial adviser – This is one of the more expensive ways to invest money, but also the most effective. You essentially pay a trained professional to create an investment portfolio and to manage your investments for you. The adviser will handle all the technical aspects and will look for the best possible investment opportunities. However, the charges that these individuals ask for are often large and you must pay them upfront;
  • Buy stocks/shares – Stocks, also called shares, are ownership units of companies that you can buy. The goal here is to look for public companies that you think will grow and to buy shares while they are at a low price. Once the value of the company grows, so will the price of the shares, which means that you will be able to sell them for a considerable profit;


When it comes to investing money, half of the battle is knowing what your options are and which is the best one for you. Research before investing your money and always think of this process in the long run.