Freedom Village at Brandywine

DIY / Home Improvement Money

Freedom Village at Brandywine

Freedom Village at Brandywine is a detailed continuing care retirement community nestled in historic Chester County. Seniors can find four different levels of care all in one place – independent living, personal care home, memory care, and skilled nursing. This setup lets residents stay put as their care needs change. The community shines in its reviews, with an impressive 8.0 rating from 30 reviewers. Even better, 83% of people gave it the highest 5-star rating.

Residents can live worry-free here without dealing with home maintenance tasks. They have time to enjoy activities instead. The costs are straightforward – independent living studios start at $2,410 monthly, while memory care begins at $7,570 per month. A team of 400 staff members ensures each resident gets individual attention and care. The community’s excellence shows in its awards too – they received the LCS Heartfelt Connections Gold Standard Memory Care Award in 2023. People looking for long-term options can choose between rental plans and Life Care programs. These programs guarantee continued care even if someone runs out of money.

Freedom Village at Brandywine

What is Freedom Village at Brandywine?

Freedom Village at Brandywine sits in Chester County’s beautiful countryside in Pennsylvania. This premier Life Plan Community has served seniors for more than 25 years. The community is at 15 Freedom Boulevard in Coatesville, right in the heart of Brandywine Valley. This area holds rich American Revolutionary history as one of William Penn’s original counties from 1682.

Location and background

The beautiful campus of Freedom Village at Brandywine features welcoming outdoor spaces. Residents can enjoy extensive trails and a gazebo. The community sits just minutes from Thorndale train station, which connects to Philadelphia and New York City. Residents also get scheduled transportation to nearby charming villages, restaurants, and attractions. Popular destinations include Valley Forge National Park, Longwood Gardens, and the Brandywine Valley Wine Trail.

The property has 289 independent living condominiums and 28 terrace homes. These go together with one another with 56 personal care residences, 49 skilled nursing suites (including 9 private rehabilitation suites), and 14 memory care suites. This detailed setup lets residents stay in their familiar community whatever their changing healthcare needs.

Who manages the community?

Life Care Services®, An LCS® Company manages Freedom Village at Brandywine. They are leaders in senior living with almost five decades of innovative leadership and strong financial management. Life Care Services stands out with impressive achievements. They became J.D. Power’s most awarded brand in senior living satisfaction survey history in 2024. The company ranked #1 in independent living for six straight years.

Life Care Services ranks as the nation’s second-largest operator of senior living communities. They bring expertise in managing both Life Plan and Rental communities. Their management approach focuses on improving residents’ quality of life in Life Plan Communities like Freedom Village at Brandywine.

The core team at Freedom Village brings vast senior living experience. Many team members have worked in the industry for decades. Some joined Freedom Village after serving in other prestigious communities.

Overview of care levels offered

Freedom Village at Brandywine provides a detailed continuum of care that adapts to residents’ needs. The community offers:

  • Independent Living – Maintenance-free living with complete choice and control over daily activities
  • Personal Care – Individual-specific assistance with daily living tasks
  • Memory Care – Specialized support for those with cognitive impairments, recognized by the LCS Heartfelt Connections Gold Standard Memory Care Award
  • Skilled Nursing and Rehabilitation – High-quality care for both short-term recovery and long-term needs

Healthcare services at Freedom Village at Brandywine earned the prestigious 5-Star rating from the Centers for Medicare & Medicaid Services (CMS). They excel in health inspections, staffing ratios, and quality measures. This means residents can move smoothly between care levels when needed. They stay in familiar surroundings with high staff-to-resident ratios that ensure personal attention.

Freedom Village at Brandywine combines resort-style amenities with detailed healthcare options. The scenic, historically rich setting creates an environment where seniors truly enjoy their retirement years peacefully.

Freedom Village

Living Options at Freedom Village

Freedom Village at Brandywine gives residents multiple care options that match their unique needs. Residents can move smoothly between care levels as their health needs change. This Life Plan Community has complete living arrangements to support seniors through every stage of their retirement.

Independent living

Independent living at Freedom Village at Brandywine lets residents enjoy elegant homes without worrying about home maintenance. The community has 317 independent living units with spacious condominium homes where you retain control over your daily activities. Seniors can focus on what they love instead of property upkeep while enjoying resort-style services and amenities. When residents join independent living, they become contracted members with access to two contract plans—the Traditional Plan and the Freedom Plan.

Assisted living

The personal care (assisted living) area has 56 units that provide customized help with daily activities. Staff help residents with medication, bathing, dressing, and grooming while letting them stay as independent as possible. The trained staff work around the clock to provide nursing services, and emergency call systems add extra security. These residents still get to enjoy community amenities, social activities, and chef-prepared meals that match their dietary needs.

Memory care

The memory care neighborhood has 14 specialized units built for residents with Alzheimer’s disease or other forms of dementia. This secure and comfortable environment uses the nationally recognized Heartfelt CONNECTIONS Memory Care Program®. The program focuses on keeping existing abilities rather than dwelling on what’s lost. Memory care services include:

  • Custom memory care with specialized Alzheimer’s support
  • Help with daily activities and medication management
  • Dementia-specific programs including arts and crafts therapy
  • Fun small-group activities
  • Regular community outings for enrichment

This approach helps maintain dignity, reduces anxiety, and encourages better eating habits with special diets that benefit residents and their families.

Skilled nursing and rehabilitation

Medicare has given our skilled nursing and rehabilitation services their prestigious 5-Star rating. The department has 50 skilled nursing units with 24-hour licensed nursing care from a team of registered nurses, licensed therapists, and certified nursing assistants. They create personal treatment plans for post-hospital care, medication management, wound care, diabetes care, and various rehabilitation therapies. Residents recover comfortably with proper medical supervision.

Short-term stays and respite care

Freedom Village understands that both seniors and their caregivers need breaks through short-term stay options. These temporary stays let seniors receive personal care while their main caregivers take care of other needs or rest. You can use respite care if you need personal care, recovery after surgery, or want to try out the retirement community. Freedom Village’s five-day minimum stay is one of the shortest in the region. During their stay, seniors can enjoy the community’s active lifestyle, activities, and chances to socialize.

Amenities and Services That Stand Out

Freedom Village at Brandywine stands out because of its resort-style amenities and complete services that boost daily life for residents. The community offers more than simple amenities. Residents enjoy a lifestyle filled with convenience, wellness, and enjoyment.

Dining options and culinary experience

Great food is the life-blood of life at Freedom Village. Six different dining venues cater to various tastes and occasions. An Executive Chef with 30 years of expertise leads the kitchen and creates unique menus for each venue. The formal dining rooms—Chester County Room, Victorian Tea Room, Country French Room, Chesapeake Room, and Vineyards Room—provide elegant settings. Residents often dress up for these venues. The Village Bistro serves brick-oven pizzas and casual fare for relaxed dining.

Residents enjoy flexible, quality dining with weekly menu changes that feature up to 14 entrées per meal. The chefs use fresh, seasonal ingredients and organic herbs from the community’s garden. The kitchen staff carefully prepares vegetarian, gluten-free, low-sodium, and sugar-free options for special dietary needs.

Fitness center, pool, and wellness programs

The community’s state-of-the-art fitness center has full-time trainers who focus on residents’ physical wellbeing. Regular aqua classes take place in the heated indoor pool. The wellness program covers multiple aspects beyond physical health. Seniors can join balance, stretch, Tai Chi, and various low-impact classes designed just for them[164].

Nurses staff the on-site wellness clinic. They provide free services like blood pressure checks, simple wound care, assessments, and emergency call system response. Independent living residents can get medication management for a small fee.

Housekeeping, maintenance, and transportation

Weekly housekeeping and flat linen service free residents from daily chores[151]. The maintenance team works seven days a week to fix issues quickly. Professional staff keep the lawns and gardens beautifully manicured.

Scheduled rides within a ten-mile radius help with personal errands, shopping, and medical appointments[191]. This service helps residents who no longer drive or prefer not to.

Outdoor spaces and recreational activities

Freedom Village’s outdoor spaces make residents’ lives better. A semi-enclosed courtyard links the residential wings and creates shared outdoor space for everyone. Residents helped plan the courtyard’s renovation. It now has shade trees, flowering plants, and features like a gazebo, shuffleboard court, bocce lawn, and horseshoe pits. A looped walking path connects buildings and encourages exercise and socializing.

Inside, residents enjoy billiards, arts and crafts, woodworking, and various card games. The community hosts weekly live shows, monthly concerts, art exhibitions, and many social events.

Technology and safety features

Safety comes first with 24-hour front desk staff, security service, gated parking, and emergency response systems in each home[191]. Nursing staff and EMTs work around the clock[182]. Residents also get free Wi-Fi in common areas and expanded basic cable in their homes[142].

These complete amenities and services let residents truly enjoy retirement without home ownership worries. The staff predicts and meets their needs professionally and carefully.

Freedom Village Cost and Contract Plans

Freedom Village at Brandywine’s financial structure follows a unique Life Plan Community model. The community’s financial commitments and benefits differ substantially from regular senior living arrangements and provide long-term security with potential tax advantages.

How much does Freedom Village cost?

Freedom Village at Brandywine requires two main payments: a one-time entrance fee and monthly fees. The entrance fee starts at $218,400 and varies based on residence size and contract type. Monthly fees for independent living begin at $2,530. Assisted living studios start at $6,410, while memory care studios cost $7,570. The community’s overall monthly costs range from $2,410 to $9,240 based on care level and accommodation type.

Traditional vs. Freedom Plan

Residents who join the independent living community become contracted members with two distinct options. The Traditional Plan ensures lifetime care security without asset depletion concerns. The Freedom Plan guarantees a 90% refund of the entry fee if residents leave for any reason. This plan works best for people who value financial flexibility over predictable healthcare costs. Both plans help manage long-term care expenses effectively.

Refundable entry fees and monthly costs

The contract options at Freedom Village protect assets and preserve legacies by refunding a portion of the entrance fee to residents or their heirs. Residents can choose from various refund percentages based on their selected contract. Options range from amortized plans that decrease to zero over time to plans that guarantee 50% or 75% refunds. This structure lets residents align their financial strategy with their estate planning goals.

What’s included in the pricing?

Monthly fees cover complete services including:

  • Home maintenance (interior and exterior)
  • Property taxes and utilities
  • Dining plan and fitness membership
  • Campus maintenance and dozens of amenities

The entrance fee guarantees access to future care at below-market rates. This benefit saves residents thousands on long-term healthcare costs.

Financial flexibility and long-term value

The “Flex Your Future” program helps residents who want more affordable entry options. This program lets them select a residence with lower original out-of-pocket costs and pay the remainder on a flexible timeline. On top of that, the IRS allows portions of both entrance and monthly fees to be tax-deductible as prepaid medical expenses. The largest longitudinal study shows that 70% of adults need long-term care for about 3 years. This Life Care approach offers substantial savings compared to market-rate senior care costs.

Resident Experience and Community Culture

Freedom Village at Brandywine stands out with its resident-first philosophy that gives seniors the power to shape their community while receiving exceptional care. This approach is the foundation of daily life at this premier Chester County retirement destination.

Freedom Village at Brandywine reviews

The residents at Freedom Village consistently share positive experiences across multiple platforms. U.S. News analyzed nearly 450,000 survey responses in 2025, and Freedom Village residents emphasized their strong community bonds and rich activity choices. One independent living resident shared, “One of our best decisions—checked many other communities and Freedom Village at Brandywine exceeded by far”. Another resident perfectly summed up the atmosphere: “Everyone here is happy. You seldom hear complaints”.

Staff friendliness and professionalism

The core team at Freedom Village brings decades of senior living expertise. Executive Director Danielle Geyer has spent 25 years in senior living, while Mary Main contributes over 25 years of experience in care facilities of all types. Lorna Malawi, Health Care Administrator, points out that “the staff is great here. They understand what is most important”. This blend of professionalism and compassion creates an environment where, as one reviewer noted, “the staff was very warm”.

Resident engagement and social life

Life here buzzes with weekly live entertainment, monthly music concerts, art shows, and social gatherings. The community calendar has fitness classes, hobby groups, and regular outings. The Resident Council meets monthly to provide feedback on services and participates in community decisions. Angela, the activities coordinator, shares: “Our department’s goal is to encourage a community where residents can thrive”.

Awards and recognitions

The community has earned prestigious recognition, including a spot among America’s Best Continuing Care Retirement Communities 2025 by Newsweek. U.S. News and World Report also named Freedom Village among the best long-term nursing home care facilities for 2023. Life Care Services, the community’s management company, has earned the highest customer satisfaction rating among senior independent living providers for six consecutive years in J.D. Power’s U.S. Senior Living Satisfaction Study.

The role of family in care planning

Families play a vital role in the care philosophy at Freedom Village. The staff holds quarterly formal meetings with family members, residents, and team members to review care plans. “Physicians, nurses, and staff all call families directly with healthcare situations,” which creates a shared approach to resident wellbeing. This open communication keeps families connected to their loved ones’ care experience.

Freedom Village at Brandywine stands without doubt as a premier Life Plan Community. Seniors can welcome retirement confidently here with complete peace of mind. This Chester County gem brings together complete care options, exceptional amenities, and a vibrant social environment in a beautiful historic setting.

The community shines through its adaptable living arrangements that evolve with changing health needs. Residents receive appropriate support while they retain control over their lives – from independent living condominiums to specialized memory care suites. Life Care Services’ professional management brings award-winning expertise, reflected in many more accolades and consistently positive resident feedback.

Freedom Village maintains transparent and flexible financial arrangements. Long-term value comes from the combination of entrance fees and monthly costs, especially compared to market-rate senior care expenses. Retirees planning their financial future will find the potential tax benefits particularly attractive.

The community culture sets this place apart. Seniors actively shape their environment rather than just live in it, thanks to resident councils, family participation in care planning, and dedicated staff members. This shared approach explains a resident’s observation: “Everyone here is happy.”

Choosing a retirement community represents a major life decision. Freedom Village at Brandywine presents a complete approach to senior living that deserves attention. The community balances independence with support, combines financial clarity with exceptional care standards, and emerges as an outstanding choice for seniors ready to embrace their retirement years fully.

Here are some FAQs about Freedom Village at Brandywine:

How much does Freedom Village Holland cost?

While Freedom Village Holland is a separate community, Freedom Village at Brandywine PA offers comparable upscale senior living options. The costs at Freedom Village at Brandywine vary depending on apartment size and care level, with many reviews noting the value for premium amenities. Prospective residents can view Freedom Village at Brandywine photos to appreciate the quality before inquiring about specific pricing.

How much does assisted living cost in Orange County CA?

Assisted living costs in Orange County are significantly higher than at Freedom Village at Brandywine PA, averaging 4,500−6,000 monthly. Freedom Village at Brandywine reviews often highlight its competitive pricing compared to California markets while offering similar luxury accommodations. The freedom-village-at-brandywine community provides detailed cost breakdowns during personalized tours.

How much is Carnegie Village?

Carnegie Village pricing differs from Freedom Village at Brandywine PA’s fee structure, as they’re distinct senior living communities. Those comparing options can find Freedom Village at Brandywine photos and floor plans online to evaluate the differences. Many Freedom Village at Brandywine reviews praise its all-inclusive approach versus à la carte pricing models elsewhere.

Who pays for assisted living in California?

While California’s payment options differ from Pennsylvania, Freedom Village at Brandywine assists residents with various payment solutions. The freedom-village-at-brandywine financial team helps families explore private pay, long-term care insurance, and other options. Their approach contrasts with California’s more Medicaid-dependent system for assisted living funding.

In what state is assisted living the cheapest?

Though not the cheapest, Freedom Village at Brandywine PA offers exceptional value among premium senior communities. When comparing costs nationally, freedom-village-at-brandywine reviews often note its reasonable pricing for the upscale amenities provided. The community balances affordability with the high-end services shown in Freedom Village at Brandywine photos.

How much is membership of the Carnegie Club?

While the Carnegie Club is a private membership organization, Freedom Village at Brandywine operates as a full-service retirement community. Prospective residents can view Freedom Village at Brandywine photos to appreciate the included amenities without separate membership fees. The freedom-village-at-brandywine model provides comprehensive living without additional club costs.

How much is Carnegie Mellon for 4 years?

Carnegie Mellon University’s tuition differs significantly from Freedom Village at Brandywine PA’s senior living costs. Those researching retirement options can find Freedom Village at Brandywine reviews detailing the community’s value proposition. The freedom-village-at-brandywine pricing structure focuses on predictable monthly fees rather than educational expenses.

How much is Carnegie Mellon before aid?

Unlike university tuition structures, Freedom Village at Brandywine offers transparent pricing for senior living without financial aid requirements. The Freedom Village at Brandywine photos showcase amenities included in their straightforward fee schedule. Prospective residents can request detailed cost information directly from the freedom-village-at-brandywine admissions team.

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Robert Testagrossa – Why NFTs Work So Well

Finance

NFTs are a hot topic at the moment and we are seeing many companies set up by experts like Robert Testagrossa which are focused towards the rising success of NFTs. This isn’t necessarily a new idea, it is in fact one that has existed for a number of years now, but in recent months we have see an enormous focus on this aspect of the blockchain.

Today then we are going to take a look into what NFTs are and why they work so well for all parties involved.

Breaking Down an NFT

To those of you who aren’t sure what an NFT is, this stands for ‘non-fungible token’ in layman’s terms this means that it is a digital product which is not fungible, or transferrable across the blockchain. We can use NFTs in artwork, music, event tickets and many other forms of token. Those who buy an NFT, in whatever capacity it takes, will be the sole owner of that token. This can be resold by the owner, but the address for the NFT will always remain the same.

Security

One of the biggest reasons as to why NFTs work so well is that they are an incredibly secure way of passing on and storing information. Back in the European Championships in 2016 we saw tickets being delivered as NFTs, which made them much more secure that paper tickets or even emailed tickets. This can also greatly help with concert tickets, which are often bought and sold by scalpers who drive the ticket prices up, and restrict people from having tickets. NFTs is a great way to solve this problem.

Control For Artists

In the world of art and music we are seeing time and time again that artists are not making the money that they should do from the work which they are completing. There are so many record companies for example who rake a huge cut from the artist’s work, as well as art houses who take a slice of artwork created. Using NFTs mean that the artists no longer need that third party in order to get their work out there. This gives them the power to release as many NFTs as they like, and it means that they will end up with an overwhelming proportion of the money which is made from sales.

Increased Demand

And finally, as more and more people learn about what NFTs are, and more and more professionals jump onto the possibilities of NFTs, we are going to see a huge increase in demand. This has already started of course and many NFT artworks are being snapped up each and every day, by people who perhaps usually wouldn’t. This increase in demand is great for everyone involved with NFTs.

The possibilities for this technology really are endless and in the coming years we are certainly going to be seeing big changes within the world of NFTs. What do you make of this new technology?

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Traynor Capital Management Reviews – Why You Should Trust Asset Management Companies

Finance

If you have a lump sum of money and you ask people what you should do with it, the large majority are going to tell you to invest it. This is all well and good of course but what gif you don’t actually know how or where to invest it? Even in such a situation you can still entrust your money to a great company which will help you to reach your financial goals.

I was looking for a capital management company a couple of years ago and after reading the Traynor capital management reviews, I knew that this was the firm for me. Many lack trust in asset management companies but here is why that is a school of thought which just isn’t correct.

Absolute Transparency

This is not a case of you handing your money over to someone and then waiting for months on end to fin out how they got on. In fact from the moment that you invest with them you will have absolute transparency in all that they do with your money. These companies se up dashboards which you are able to use to assess where your money is being invested and what the current star is of your investment. This is certainly something which builds trust between you and the company.

Risk Management

The level of risk which they take with your money is entirely down to you, and when you first invest with them you will have a full discussion on what you are looking to achieve, and how much risk you wish to take. This can be altered at any time and you can also select a certain risk based on a particular percentage of your money. This gives you absolute control over the level of risk which you are going to take.

Tight Regulation

The days of investors and brokers going rogue is all but over in the modern world, because this has happened too many times before. The result of this is tight regulation which means that nobody acting on your behalf can do so without making things crystal clear with you. We just spoke about risk, which is a great example here. Should the firm take on a larger amount of risk than you have agreed with them, and lose money as a result, you will have complete protection because of the tight regulations which are in place.

No Point

Ultimately, there really isn’t much to gain from robbing investors in the short term. If this happens then the company’s reputation will be in tatters and they will never be able to make money again. These businesses are set up with integrity and the more money that they are able to make on your behalf, the more money that they will make for themselves. This again is why there should be absolute trust here, because there is no point in acting in bad faith for them.

Trust the experts and let them put your money to work.

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What Are Alternative Credit Scoring Models?

Business Finance

If your business offers credit to customers, it’s vital to verify whether a potential customer is likely to be a ‘good’ borrower. To do this, companies typically use credit scoring to assess whether or not to lend to an applicant. Therefore, the credit scoring model you use has a major impact on how many customers are offered credit and, ultimately, the success of your business.

Although companies have traditionally relied on data from credit bureaus to assess an applicant’s creditworthiness, there are now new and innovative ways to determine whether an individual is likely to be a ‘good’ borrower. Read on to learn more about alternative credit scoring models and how to use them…

How Do Alternative Credit Scoring Models Work?

Traditional credit scoring uses a fairly limited range of data to determine a person’s creditworthiness. In contrast, alternative credit scoring models use data from a wider variety of sources. A credit bureau might calculate a person’s credit score based on their banking history, mortgage payments, and wages, for example, but overlook things like mobile payments, rent payments, and/or cryptocurrency payments. By incorporating these elements and other types of data, businesses can obtain a more accurate credit score and make more profitable, low-risk lending decisions.

Essentially, traditionally credit scoring is an outdated way of assessing a person’s creditworthiness. An alternative credit scoring model incorporates the wide variety of factors that make up an individual’s financial situation and, therefore, gives lenders access to the data they truly need when making decisions.

Are More People Approved via Alternative Credit Scoring?

When you use alternative credit scoring models, it can mean that a higher percentage of applicants are approved for credit. However, this doesn’t necessarily equate to organizations taking higher risks. In fact, many alternative credit scoring companies have collated data that shows lenders reducing their losses by switching to this innovative method of credit assessment.

Crucially, alternative credit scoring can ensure that people who would unnecessarily be denied credit due to outdated, traditional methods of credit scoring are no longer overlooked. Someone who rents a property has no direct debits or even no bank accounts would typically find it difficult to obtain credit when traditional credit scoring systems are used, for example. Despite this, they could be a low-risk applicant with outstanding financial management skills.

By using a wider range of data to assess them, an alternative credit scoring model gives the lender a more accurate overview of their viability as a borrower. As a result, lenders can tap into this lucrative target audience while providing borrowing opportunities to individuals who have been historically penalized through no fault of their own.

Incorporating Alternative Credit Scoring into Your Business

If your company is already credit scoring potential customers, switching to an alternative credit scoring model is a simple transition. Whether you develop bespoke software, use a SaaS platform or install a suite of analytics programs, incorporating alternative credit scoring into your business can be simple, straightforward and highly lucrative.

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Wonga compensation claimants may lose money

Money

The behemoth payday loan company, Wonga, went into administration in August, marking the end of the road for the largest payday loan lender in the UK.

This was largely as a result of a deluge of compensation claims the business received regarding loans being sold irresponsibly, as well as payday loan caps that were implemented in 2014, introduced by the Financial Conduct Authority, that saw all interest and fees capped at 0.8% a day on all high-cost short-term credit loans.

However, there are now concerns that are being raised that claimants with compensation claims outstanding with the lender could end up losing money that they are entitled.

These fears have been voiced after a letter in October from the accounting firm, Grant Thornton, which is overseeing the administration process, told creditors that an automated ‘adjudication tool’ may be used.

This automated, computer based tool is being created to cut down on manual processing costs, and to deal with the huge influx of compensation claims Wonga has received. The accounting firm is legally obliged to assess every single one of the claims. With the letter revealing that since Wonga had collapsed, it had been receiving an estimated 200 to 500 compensation claims each and every day.

This is not including the 24,000 customers complaints that were outstanding prior to the payday lender going into administration, nor the 9,500 complaints which had been escalated to the financial body, the Financial Ombudsman Service.

Taking this all into account, why is the automated system attracting criticism? There are fears that the software may not end up fully processing individual factors and circumstances when deciding to give compensation or not. The head of policy at financial campaign group positive Money, David Clarke, spoke in further detail about this matter to The Guardian:

“After having been mis-sold loans by automated software, Wonga customers may now be forced to appeal to a similar automated system,”

“Just as Wonga’s algorithms failed to account for individual circumstances when making loans in the first place, there are risks that this technology will again fail to take all the relevant factors into account when processing claims, leaving many customers out of pocket.”

In addition to this, Grant Thornton revealed in the same letter that until Wonga’s assets have been sold, it still remains unclear how much compensation will be available for claimants, nor a timeframe in which this money would be provided to customers.

To find trustworthy payday loans companies, consumers are encouraged by the FCA to use price comparison websites, following a recent rule that states every lender should be placed on at least one comparison table. In addition, high cost lenders are moving away from a 30 day product to offer alternatives and longer-term products repaid over 3 to 24 months.

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Could a Flexi-Loan be Right for you?

Money

The use of consumer credit has been on the rise in recent years in South Africa. There is an ongoing squeeze on the middle classes with a heavy tax burden, rising food prices and the cost of avoiding crime all taking their toll, so much so in fact that there’s a real possibility that the current middle class, which accounts for about 9 million or 16 percent of the population, could be shrinking.

In an attempt to maintain their standard of living, an increasing number of householders are turning to consumer finance products. At the moment, credit cards, store cards and overdrafts are the consumer credit of choice, but recently a new product has hit the market which could help South African consumers meet their essential costs without contributing to a debt spiral.

Introducing the flexi-loan

The flexi-loan is the first product of its choice to hit the South African market. The well-known lender Wonga has revolutionised its payday loan offering to give customers more flexibility and choice.

The flexi-loan allows new customers to borrow up R4000 over a maximum period of 6 months, with existing customers potentially allowed to borrow up to R8000. One of the benefits of the flexi-loan over other forms of short-term finance is the level of flexibility it provides. Applicants can choose the amount they borrow and their repayment term, from 4 days and 6 months, so they can spread the repayments over a longer period to allow them to budget more effectively. This also ensures the repayments are at a manageable level to reduce the risk of creating a debt spiral.

Consumer credit is never a solution to long-term debt

Although the flexi-loan may become a useful stopgap for some South African consumers and help them meet essential expenses they had not accounted for, consumer credit of any kind should never be used as a solution to debt problems. If you do need to borrow money to cover essential expenses like car or boiler repairs then the flexi-loan could be an option for you. However, you should always explore other potential solutions such as using savings or borrowing money from family and friends first.

If there are no other options then you must carry out careful affordability calculations to make sure you can afford to repay the loan and choose a repayment term that allows you to budget accordingly. Only once you’re sure you can repay the loan should you borrow any money at all.

Always be aware of the extra charges that may apply

One of the benefits of the Wonga flexi-loan is the fact that what you see is what you get. That is, if you meet the agreed repayment dates then the initial calculation is the amount you’ll pay. However, other charges can apply if you cannot make the repayments.

Although you will not be hit by multiple charges, interest and service fees will continue to apply to your account for up to 90 days if the debt has not been repaid. Continued failure to repay a loan will also mean the outstanding payment is recorded by credit bureaus and your credit rating will be affected as a result.

What types of short-term credit do you choose to use? Do you think a flexi-loan could be a viable alternative? Please share your thoughts in the comments below.

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Should You Give up on Gold and Invest through Your Bitcoin Wallet Android App Instead?

Finance

Did you think that gold is a dead commodity that you shouldn’t invest in anymore? If so, you would be wrong. In 2013, Germany started to repatriate gold to it, and at least 50% of it is now stored in Frankfurt. Other parts are stored in Paris and in New York and around 13% is stored in London. But what does this have to do with the bitcoin wallet android app?

The Bitcoin Wallet Android App and Other Cryptocurrencies

Cryptocurrencies and digital cash services are becoming increasingly popular. What this also means is that gold seems a bit archaic nowadays. However, gold has a status that it will never be able to lose, and it will always be valuable simply because people want to have it. No other fiat currency, not the Euro, not the Dollar, has this type of security.

The Link between Gold and Bitcoin

You cannot get away from bitcoin and cryptocurrency anymore, but gold isn’t going anywhere either. Both also see quite significant price fluctuations, but they are rising overall and rising a lot. Then, there is the fact that other forms of economy, such as stocks and bonds, are problematic, not in the least because they are so strongly affected by geopolitical events. Consider:

  • There has been an overvaluation of stocks. So much so, in fact, that they must come crashing down soon.
  • President Trump is causing major ripples around the world, and no matter how much he would like to call every negative report about him and his policies “fake news”, the reality is that the world is not happy with his administration.
  • Europe is in turmoil. The United Kingdom has voted to leave the EU, a process known as “Brexit”, and other countries are seeing a popular opinion swaying towards the same thing. Meanwhile, there is a serious swing towards right-winged politics in almost every European country.
  • Nobody can keep track of derivatives anymore, which is precisely what the five biggest banks in this country have tied their interests to, making it very dangerous.
  • The Federal Reserve has now agreed to start rising interest rates again, which has a significant impact on people’s disposable income.

Gold isn’t impacted by this, nor is cryptocurrency. That is because both are available in finite amounts. Both are also tied to supply and demand, with demand rising significantly. One of the key things about bitcoin, however, is that it is decentralized. This means it is not owned by a country or a bank, but rather by its users, which is known as “open source”.

All financial experts agree, all investment portfolios have to be diversified in order to retain their value. They also all agree that precious metals should be an integral part of an investment portfolio. So why not double protect yourself, and purchase precious metals like gold by using bitcoin? Could it be possible that the two investment underdogs are actually the strongest of them all?

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When You Should and Shouldn’t Take Out a Loan

Finance

There are many reasons why people apply for a loan. Sometimes people apply for loans out of necessity. Sometimes people apply for loans to buy products or services that are not really needed. It is important for people to understand the cost of taking a loan. There are many factors affecting the cost of getting a loan, such as your credit score, your assets and your job. The size of a loan varies from a few thousand dollars to a few hundred thousand dollars. There are many reasons why someone should take a loan or should not take a loan.

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Why you should take a loan

1. Buying your first home

This is one of the good reasons for you to apply for a loan. A home loan allows you to own a home instead of renting an apartment. The loan can be repaid in 15 or 30 years and you will get the lowest interest rates if your credit history is good. A home loan also gives you tax benefits, and can be easily calculated with a no charge tax tool!.

2. Student loan

If you are a student, then applying for a student loan is a good choice, as it allows you to get a degree in an area that offers good job opportunities. The government backs most of the student loans and the payment terms are very generous. The loan offers a way of funding your future.

3. Loans for Investments

If you are financially independent and responsible, then you can take loans to fund your investments. For example, you can borrow money to buy investment properties. These kind of loans are not suitable for regular folks. You must have the necessary financial knowledge and assets to apply for such loans.

Why you should not take out a loan

1. Bad credit history

If your credit history is not good, then you will not get the best loan terms. You must work on increasing your credit score before you applying for a loan. Typically, banks and lenders will charge you higher rates if your credit is not good. If you are someone with a poor credit history, then you should refrain from taking a loan.

2. Purchasing assets that are depreciating

If you are planning to buy assets such as automobiles, which are depreciating over periods of time, then you should not consider taking a loan. It is always recommended to take a loan to purchase items such as a home, which are appreciating in value and act as a hedge against inflation. Most people are in the habit of purchasing depreciating assets such as furniture, TV, smart phones, and automobiles by taking high interest loans. This is not a good idea.

3. Private loans

There are many private loans available today. These are very expensive. You will end up paying very high interest rates. It is always recommended to get a loan from major banking institutions and lenders. If your credit is not good, then you may be tempted to get private loans. You should not consider this option unless it is for an emergency situation.

4. Borrowing from credit cards

Credit card companies offer balance transfers. However, after the initial period of lower interest rates, the interest rates will increase drastically. Your monthly payments will go up. Do not fall for high interest balance transfer offers from credit card companies.

There are many reasons why people take out loans. However, there are not many good reasons why people should take a loan or should not take a loan. Some of the reasons listed above are helpful if you are a would-be borrower planning to take a loan. Taking a loan is a financial burden and should be avoided unless it helps you to accumulate real assets, which are appreciating and lead to financial independence.

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Top Tips to Make Your Money Go Further

Finance

Money rules all, and it always will, the main concern in almost everyone’s lives is having enough money, enough money to survive, enough money to buy what they want or enough money to achieve their dreams. Whatever your reason for being concerned with the size of your income or bank account I’m sure that you will echo these sentiments. So, how do we go about solving the issue of money worries, well, there are two approaches that you can take, making more of it and working hard to spend less of it, both of which can give you a more positive view of your finances and ultimately a happier life. Here are some tips for you as to how you can achieve this.

Couponing

Gone are the days where people would rake through magazines searching for a 50 cents-off promotion in the back pages or walking into the grocery store armed to the teeth with glossy pieces of paper to save them cash. These days the online world of couponing is a craze that is engaging everyone with internet access and it is a brilliant way for you to save money. The emergence of voucher and coupon websites has not only encouraged businesses to make more money by offering great deals for their prospective customers but has saved the general public tens of millions of dollars in purchases that they have made simply by downloading a coupon for free online, get involved and save some money.

Use Your Cash

There are several ways of using your money to make even more money, firstly you should be looking into what kind of account your bank offers you, if you have an APY of anything less than 0.2% the you should be looking to put your money elsewhere to let it grow. If you have large savings then consider investments into businesses, stocks or property to hopefully take some big profits from your investments. Money does breed money and the same goes for things like online gambling, if you take the risk then the rewards could be huge, you can start off risk-free as well with a bonus for online casino games that means that you won’t even be gambling with your own cash to start with, what better way to learn the trade than by using someone else’s money!

Sharing Economy

The values of a sharing economy can work wonders in your life and for your finances, the essence of this economic system is that people live within their means and open up opportunities for others to share parts of their lives. Whether this means that you decide to use a car pool to get to work or rent out your spare room, the idea of collaborative consumption is the perfect way to save more money in your life and something that you should be looking at trying out to aid your financial situation. By spending less and sharing more you can give your monthly finances a boost and give yourself the opportunity to meet more people and create a more sociable World, the perfect combination.

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Why You Should Get a Line of Credit

Money

Bad budgeting isn’t the only reason why someone might need financial aid. If you’re self-employed or rely on government assistance, then you’re all too susceptible to the vagaries of your monthly income. When unforeseen expenses come a long, you may find yourself underprepared and overwhelmed by your sudden financial obligations. When your savings account isn’t as padded as you’d like, a line of a credit can be a financially responsible way to cover your needs.

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A line of credit can act as a safety net in your time of need. While they are not recommended to purchase something as large as a car or a home, they can help you with those small unavoidable items or services that your monthly income can’t cover. Typically larger than small dollar loans, they have a higher limit that allows you to pay for more expensive charges.

Its repayment is dependent on how much you use against the total. Interest is calculated according to the portion of the funds that you use rather than the total amount available. Only a minimum payment is required once you start to use your advance. This particular feature makes it an ideal alternative if you wish to keep your credit, untouched, until an emergency requires it, or if you plan on using it to pay off several smaller expenses over a longer period of time than a short-term loan can provide.

Regardless of how it functions, a line of credit must be reasonable for your current financial situation. There is no such thing as free money, so you will have to repay all of the funds that you’re given. It’s imperative to determine if you can reasonably repay your line of credit before you sign any contract. Before you even apply, learn about its fees, minimum payment schedules, and all related costs.

These will differ from state to state, as each local government is responsible for setting out the legal limitations of lines of credit. Speak to a loan expert at MoneyKey if you live in these three states: Kansas, Maryland, or Missouri. As a state licensed lender, they offer products in accordance with local laws. Check out the personal line of credit loan from MoneyKey to learn about their rates and terms. With this information in mind, you can decide if you can budget for its minimum payments.

As a flexible alternative to short-term loans, a personal line of credit could be exactly what you need to cover surprising and stressful expenses. Take the time to find out if it fits your financial situation. If you can afford to take on its minimum payments, it’s a practical solution to your money problems.

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