Fast direct cash advance lenders may be able to help with a quick cash emergency but they will not help solve the root of the problem. If you find yourself with a negative cash flow too often, the fees for these loans may interfere with other budgeted demands. Temporary fixes are good to have, but once the problem has been relieved the cause should be analyzed.
How your cash flows in and out of your bank account is a good sign of your budget’s health. How long does a paycheck last once it has been deposited? Do you know where your paycheck goes? Do you have bells waiting on the deposit? How tight do you run your finances?
We all have to spend a good portion of our income towards housing. On top of that payment there are utilities, insurance and food. We are talking the basics. Don’t include cell phones, cable or internet. How much of your income is used towards living? If we include what you spend on your vehicle what is the percentage of your salary left over? Basic costs can often siphon too much of our hard earned income if we let it.
Is your home affordable? If you were to downsize your home or vehicle, would it make a difference at the end of the month? Would you be able to comfortably afford insurances and up keep? Do you pay into a Homeowners’ Association (HOA)? What does that money go towards and could you live more comfortably if you resided in an area that did not have one? These are all good questions to ask yourself before you make hardcore changes.
Direct cash advance lenders work best for money emergencies not solving debt problems.
Maybe you are a person who uses online cash advance lenders when the car breaks down. It is a reasonable reason to seek outside money help, but have you ever asked yourself why you need third party money? Is it because your car is old and you can’t afford a monthly payment? Is it because this month just seemed to have too many ‘other’ expenses?
Whatever the cause, the action needed to resolve the problem was the same as the average person, find outside money help. Why outside help? For most people, the idea of having their own emergency savings account is an unachieved goal. it would be wonderful to be able to dip into the savings, take care of the problem then work on paying it back, free and clear of those pesky fees. We are used to paying interest on credit card and short-term loan debt; maybe it would feel good to pay ourselves for having the emergency money.
The important matter in this whole money matter is to find out what the problem is and fix it.
- Are we spending too much money on living expenses? If so, then you will want to downsize to something more affordable.
- Are we too carefree with ‘other’ costs? Budget in an amount that you can afford and use cash to make your purchases. When the money is gone the rest will just have to wait for next month.
- Do you need to have the latest in cell phones or tablets? There seems to be new versions coming out once or twice a year, do you really need to upgrade? Really?
- Consider what is being spent by each member of your family. Include children’s extracurricular activities into the mix, there is no reason a young person can’t help pitch in when it comes to saving money.
Make your third party money usage limited to those emergencies your savings cannot afford. If you solve the root problems you may not need to use your credit cards or online cash advance lender unless there is no other ‘free’ way of solving the problem.