Payday Loan Hero - What's New Archive (December, 2004)

What's New > December, 2004 What's New Archive

Tuesday, December 21, 2004

Money Management and Budgeting

Money management and budgeting have become the new successful alternatives to payday advance loans . Although it is often viewed as a difficult task, budgeting allows you to grasp your finances and control the situation you are in. Finding ways to stay on budget is half the battle. Below are some helpful hints to help get on the right start.

Try to spend less. Distinguish your needs from your wants and allocate your income appropriately.
Arrange for an automatic saving account through your bank. Its easiest to save money if it never gets in your hands.
Pay yourself. Transfer a fixed amount of money to your savings from every paycheck your receive. Payday advances are usually used when people do not have money for emergency financial obligations. Your savings account will be you support in case of emergencies.

It is important to remember that if you wait to see what money you have left over, you are less likely to budget correctly. Determine in advance how much money you plan on saving each month. If you still need a payday advance, be selective as to what service you choose. Be your own Payday Loan Hero, select a lender with the lowest interest rates. Fast payday loans should not put you into greater financial burden. Use your payday loan to alleviate outstanding obligations and get back on track with your finances.

Tuesday, December 28, 2004

Payday Advances At A Glance

Payday cash advances are a great solution for those who are faced with unexpected financial obligations. It has become the choice of many Americans who find themselves in compromising positions. Unfortunately, in emergency situations banks aren't always the best solution. The average payday loan only takes about 15 minutes to complete and requires a few personal documents. You will be asked for identity documentation as well as proof of income. Applicants must also provide a checking account number to complete the monetary transaction. With the speed of the internet, the money borrowed can be in your account within 24 hours. Often time, the approval itself takes less than 30 minutes. With online research, you can find out each individual company's requirements.

Understanding Fees

The loans you are applying for are unsecured loans. Consumers don't have to pay the banks collateral in order to qualify. In many cases, those with bad credit even get approved. The consumer is required to pay a fee for the lenders service. Rates usually start at $15 to $30 for every $100 borrowed. Additional fees are included if payment is late or extended. Most loans do not exceed $500.

Protect Yourself

Consumers must understand that these loans come at a price. Cash advances can sometimes have very high interest rates. Its not uncommon to see an unsecured loan with an interest rate of 50 percent or higher. Cost is so high because of loan speed and urgency. Keeping this in mind, it is wise to re-evaluate your finances to see if a loan is the only solution. Often times, it is actually more expensive to take out a cash advance.

What's New Archive (December, 2004)