Avoid Using Payday Loan Services
Some habits can be good, and some habits can be bad. We normally develop
our habits at an early age. Usually, our bad habits end up getting us
into difficulty or trouble. Obviously then, in order to stay out of
difficulty and trouble, we need to develop and practice good habits.
One of the most important good habits we need to learn and apply for
our own well-being, is the wise handling of money. Unwise handling
includes things like unnecessary spending -- buying things that we
don't really need, or spending too much for the things that we buy
that we do need. It can also include unwise investment practices --
like putting money into a bank account that pays no interest. The
only thing that happens to your money then is that it gets service-
One of the consequences of living beyond our means (unnecessary
spending) is that we often find ourselves with month left over once
the pay has run out. We run short of money, even when we feel we need
to skip a bill payment. Many people, when they find themselves in
this situation, end up using the services of a payday loan company.
Borrowing money from a payday loan company can be like making a
deal with the devil. When you factor in the application or
administration fee, you can be paying the equivalent of hundreds of
percent annual interest. You might say that that doesn't matter,
because you're only borrowing the money for 2 weeks, but are you
really? If your bad spending habits have gotten you into a problem
to begin with, how are things going to improve unless you change
those spending habits for good? Many payday loan clients end up
having to re-borrow the same money over and over again, each time
being charged the application or adminstration fee. It adds up.
And it will force you further and further behind in your finances.
The thing to do before you end up having to apply at a payday
loan company is to examine your spending habits and make changes.
Cut your spending by cutting things that you don't need -- stop
smoking, cut way back on your alcohol, switch to a more fuel-
efficient vehicle or take public transit if it's available, stop
impulse buying, stop eating fast food -- the list is endless.
The way out of any financial mess is not by getting high-priced
loans. The way out is by getting rid of bad habits, and learning
and applying good ones.
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