Tips from Payday Loan Lenders for Fixing Financial Crisis
Posted on Friday, June 18th, 2010 at 10:43 am in Financial Planning
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The recession has made it harder to plan for financial emergencies as Americans face the economic challenges of pay cuts, downsizing, and an increased cost of living. Your mother may have taught you the benefits of saving for a rainy day, but if your whole paycheck goes towards paying the bills you don’t have anything left to save! Our payday loan lenders offer some tips for surviving financial crisis when the bills seem to come in faster than the paychecks.
1. Stick to your savings plan.
You might have to make some sacrifices and cut spending in some areas, but if you can manage reserving just 5% of your monthly income to place in an emergency savings account, you’ll be financially healthier by the end of the year than you are now. It might not seem like much, but interest accumulates and you’ll be glad you saved when you’re hit with a real financial crisis.
2. Change your shopping habits to save money.
Use coupons and shop sales at your supermarket to slash your monthly grocery bill. You can place the cash you save in an emergency savings account or use it to pay some of your monthly bills ahead.
3. Make it a priority to pay your bills on time.
Late and missed payments on utility bills and credit cards can really hurt your credit score, making it difficult to take out a loan when you need to finance a large expense like college or buying a home. Even if your monthly bills eat up your full paycheck, pay these expenses before anything else.
4. Apply for an advance payday cash loan if you have a cash emergency.
An online payday loan lender can wire up to $1500 to your account the same day you need it if an unexpected emergency happens before your next paycheck arrives. When used for short term expenses and repaid at the end of the month, an instant payday loan can help your finances with the temporary boost you need if your take home pay and emergency savings aren’t enough to cover the emergency expense.
If you need some extra help this month, contact one of the top-rated online payday loan lenders on our site and apply for your cash advance loan toady!
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