Did your tax refund act as a replacement for an online cash advance loan? Are you still waiting to finish the paperwork? Do you already have the money spent in your mind? I got mine. It went straight into the bank for my own personal cash advance emergency fund.
I had thought about paying down my credit card debt. I write about this stuff every day. It would make the most sense, but I really had to look into my own personal situation and figure out what is best for me. On one hand I want to get rid of the debt, but on the other, I don’t want to have to keep going to creditors or cash advance loan lenders for money each time something pops up.
My budget works for me most of the time. There are a few months where I get hit with all the quarterly bills and I have to remember to keep my spending to a minimum. It’s the outside budget costs which get me using my credit cards despite my efforts to pay them down.
- Signing my kids up for sports.
- Gas prices swing upward for no apparent reason.
- My turn to provide the team snacks at the game.
- A dentist visit.
- Invited to another birthday party.
- Oil change or any car maintenance for that matter.
These costs aren’t even real emergencies, just those expenses which are not covered in my personal budget. I wish I did have a category for those little extras. I guess you can say that I do now because I tucked my tax refund away into the savings. It’s the best cash advance loan money for my budget.
Anybody with children will know that $5 here and $10 there end up eating away at any budgeted padding. I can see how people who use a cash advance to cover costs until the next payday end up in a cycle of debt.
For me, I don’t turn to short-term cash loans for the extra cash, but end up reusing my credit cards. I keep paying every month, a little extra towards the high interest cards and before I know it, I spend the little progress I had made. I am very thankful that those extra costs have never pushed my situation over the type where I would need to find access to emergency cash.
Replace a need for a cash advance loan with a savings account.
Now I have a savings “emergency” account. I have a place to go get funds when my son needs new cleats or purchase tickets to my daughter’s dance recital. I don’t have to push my car another two weeks driving with the “change oil” engine light. I feel good about my decision. Yes, I still whittle away at my debt each month, but I know it is going in the right direction now that I don’t have to reuse it. I try deposit money back into the savings when I come across some extra; when I roll the coins from the laundry room piggy bank, return bottles or even make returns to stores. I can sometimes be an impulsive shopper. I budgeted a little bit for myself. There are times though that I get home and the item doesn’t combination or fit or I just plain out change my mind. When the store can credit my card, I choose that option, but when I can have cash back, this money goes right into my savings. I try. For now, it is my efforts which are keeping my budget above water and out of a direct online cash advance loan application.