If you happen to seek advice from your friends, then you've probably heard people say that payday loans are always bad. Then it's usually where the conversation ends. But that doesn't really solve any of your problems cause chances are, you're still going to need the money - which made you think of considering a loan in ht first place. In this post, we will be discussing a lot about payday loans, what problems are to be expected with them, and somewhat get into the reasons why a lot of people consider them bad. Along with it, I will be showing you some alternatives besides taking a payday loans as well.
The Dangers of Payday Loans
1. It's A Vicious Cycle
Truth is, most of us have had money problems at least once in our lifetime. Emergencies always come and we always have to find ways to …show more content…
Budget in Advance
This could be the easiest solution to avoid having financial problems. But don't be intimidated with this concept though, budgeting doesn't really mean you need keep track of every single penny. Budgeting simply means setting aside an amount in every paycheck that you get, to cover your usual expenses as well as for a personal emergency fund, in case you don't have one. You can make a budget by saving as much money every payday to make sure you have enough funds for both expected and unexpected expenses you will be having. It's really all about discipline.
2. Ask for More Hours
You could be great with budgeting, but you just might not be earning enough money. You could be more flexible with your budget by looking for ways to increase your income through having double jobs or working longer hours. If you happen to have a good work experience and track record, then there will be more work available for you. You don't really have to stress out applying for other jobs, or try to tighten up your budget. If your hours happen to be maxed out at some point, you can opt for getting a raise in your current company
The Dangers of Payday Loans
1. It's A Vicious Cycle
Truth is, most of us have had money problems at least once in our lifetime. Emergencies always come and we always have to find ways to …show more content…
Budget in Advance
This could be the easiest solution to avoid having financial problems. But don't be intimidated with this concept though, budgeting doesn't really mean you need keep track of every single penny. Budgeting simply means setting aside an amount in every paycheck that you get, to cover your usual expenses as well as for a personal emergency fund, in case you don't have one. You can make a budget by saving as much money every payday to make sure you have enough funds for both expected and unexpected expenses you will be having. It's really all about discipline.
2. Ask for More Hours
You could be great with budgeting, but you just might not be earning enough money. You could be more flexible with your budget by looking for ways to increase your income through having double jobs or working longer hours. If you happen to have a good work experience and track record, then there will be more work available for you. You don't really have to stress out applying for other jobs, or try to tighten up your budget. If your hours happen to be maxed out at some point, you can opt for getting a raise in your current company