www.usacashhelp.com
Believe
it or not, the payday loan customer takes out an average of eight loans per
year. While folks turn to multiple lenders for multiple loans, others stay
tried and true to their favorite quick cash distributor.
But
what would happen if those loans were no longer out there? What if you decided
you didn't want to rely on short-term loans when finances get rough. Could you
make a big financial change by implementing a spending freeze? Not only could
you save money and avoid the need to borrow; you could make taking out payday
loans part of your spending freeze. Whether it's once a week or once a month,
you can save money but not feel like you are totally depriving yourself.
This
first step is to examine your monthly budget. If you don't have one, take some
time to sit down and thoughtfully create one. Whether you utilize an online
budgeting tool, purchase software for your computer, or take the old fashion
route and use pencil and paper, you need to have an idea of where your money is
going. Separate your spending into categories and pay close attention to what
purchases and expenses are "needs" or "wants". This is
going to be important in implementing your spending freeze. Don't forget to
include expenses like a payday loan that are not re-occurring but should still
be considered part of your budget.
Next,
choose a time period in which you will incorporate your freeze and then decide
what you will do with the money you will be saving. It's important to know
where that money will go so that you don't risk leaving it to be spend
somewhere else or at some other time. Perhaps you have been wanting to start an
emergency fund, save for a vacation or pay down a credit card. Choose a
destination for that extra cash before you implement your freeze. Once you
save, make sure you allocate those monies to the appropriate places. If you
have a payday loan to pay back consider a two day freeze in an effort to pay
back your lender on time and avoid high interest rates and rollover fees.
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