It is important to remember that cash advances or payday loans are intended solely to cover emergency situations which arise between your paycheck. They are not intended as a long term solution to money management. If you are in need of assistance in long term debt, we recommend that you seek the advice of a professional counselor.
►Tips For Budgeting
MAKE A BUDGET. List income you receive from any source and know how much you are brining in each month. List how much you have in savings or if you can list out how much you can place into savings each month- even if it is just a little. List out your fixed monthly expenses like rent, car payments, cell phone or internet access. Then List out your variable expenses like groceries, clothing, insurance and electrical. Then compare the two lists to see where you are financially. If you have money left over each month, then put it in savings right away. If your list of expenses exceeds your monthly income, then see where you can cut back and that is usually variable expenses.
►Watch your debt
The very first step in managing your debt is to create a list of all your debts. This includes but is not limited to: mortgage payments, utility bills, credit card bills, and medical bills. Having a physical list with numbers really help wrap your head around your existing financial problems, as is an effective move to start strategizing a plan. Looking at this list, you can calculate your monthly outgoing expenditures and compare it to monthly net income. You can devise a plan to slowly repay your debt. Often, the first step is the hardest, and this is the case with debt. People pretend the problem will solve itself and not make any initial first steps. Having your debt on paper gives you a great overall view of your situation, and makes any decisions you make educated and informed.
IMPORTANCE OF SAVINGS. It is hard to save unless you change the way you think about savings. When you write out your bills each month, write one to yourself... even if it is for only 20 bucks. Put that one in your savings and forget you have it. Every six months, give your self a raise. Even if it is only 5 bucks. The key is to pay yourself then deposit that check into savings and walk away.
THE TRICK TO SPENDING. Spending is not bad unless you spend foolishly. Be sure that what you are buying you need or you can afford. Shop around , watch for the sale, match prices online or get coupons from any number of websites. Just make sure you keep track of the spending on that Budget list you have made.
EMERGENCIES. That is when you need us. That expense that you did not see coming and can not cover until you get paid in two weeks. Say you need to borrow $100 for two weeks. Our participating lenders will get it to you today. In two weeks they will add their fee of $15 to it and take $115.00 back out of your account. Now it is true that that works out to an APR of 391%.