Consumers who are having great difficulty managing their bills on a normal basis are often able to find some great relief in the form of a short-term cash advance. Unlike what everyone thinks, it is possible to have a lot of great experiences with a cash advance. This means that it is very important to take the time to really observe the benefits of what a payday advance can do for your finances before you start applying for the advance. After all, in order to have the best results on your finances you need to have a clear picture of where you are, and where you are wanting to go.
One of the biggest things you need to remember is a cash advance is designed to be a short-term solution to some fast cash. While many people may think that this is the perfect way to add money to their budget constantly this is actually not the case at all. A cash advance is best used when it is only used as an occasional tool. For consumers who are attempting to use the cash advance properly it has been shown that an occasional cash advance can offer an increase of as much as 31% to the success and survival of a budget.
If you ignore the fact that there are times when a cash advance can be very helpful it is easy to see how they can be horrible for a budget. However, consumers that are wise all realize that there are times when a bit of additional cash is needed and try to ensure they have ways to cover all of their bills prior to suddenly having an emergency pop up that you are unprepared for. One of the easiest ways that anyone can cover their sudden expenses is by utilizing a cash advance, after all it provides a bit of quick money that can be used for anything.
If you consider all of the sudden expenses that can arise in life, from higher power bills than expected to also having a car repair to worry about, an unexpected present to buy; or even needing to replace a window in your home after your child has a miss while practicing baseball it is easy to see why having the ability to get a small amount of fast cash is essential to survival. If you consider that the majority of people are simply unable to gather together a nice stock of 6 months worth of income for an emergency fund it becomes even more obviously exactly what place payday advances has in trying to ensure that everything is manageable in your budget and expenses overall.
Of course when used inappropriately a cash advance can have a negative impact upon your finances, however if you are wise in how you use them, it can be a very good experience to take part in. Getting the help, you need to cover your bills when you need the money without having to bounce checks or even beg a bank for a loan is always important. A cash advance can help you in so many ways, but to be truly successful with them you must take the time to break free of the potential cycle of debt before it ever begins.…
Of course, everyone grows up with the goal of being financially secure in their lifestyle. However, a lot of times somewhere along the road there is a fork that throws many people off of the successful path and onto a path that is much harder to deal with. While this may seem like the perfect solution is simply waiting for you on the other path it is just not a simple task to get there in real life, which makes it very hard to get back onto the solid and stable financial path for most people. Yet if you are careful and take your time to really start analyzing all of the fees and charges that you can rack up in your normal financial lifetime you can see how things can get very expensive quite quickly, and on a much larger scale than simply paying $15 or so dollars for each $100 that you borrow from a payday cash advance loan. We are going to take a nice long look at all of the scenarios that are available, well we shall actually take a look at just a few examples because to look at everything would be completely overwhelming and quite unreasonable. Looking at a few distinct examples should give you a very clear image of several areas in your life that need a bit of work to help you whip your bills and overall finances into shape and it just might help you save enough money to avoid a cash advance or two. At the very least help you gain a good perspective on the costs of the advance.
While payday advance protesters claim that the rate of interest on payday loans are too high many consumers do not really realize that each time a utility bill is not paid immediately on time it racks up a late fee. These fees generally range quite heavily, however the range of anywhere from 1% to as much as 5% is typical. Of course, this certainly does not sound like much but if you consider that each time you are late with your power bill for example you are assessed a 3.5% late fee and your bill is typically $100 you are looking at an additional $3.50 each month on your power bill. Over the course of a year, you are spending an additional $42 just on this one bill.
Another example of wasted money is if you decided to use the ATM each week to withdraw cash from your bank. We shall assume for this example that you did not do your homework and find a free ATM that you can use, instead you are spending out $2.75 each week in ATM fees, which is a good average cost that people are paying, over the course of a year you are looking at an astonishing $143 in ATM fees alone.
To take another example, if you are making a credit card payment online to a company that charges a $4.95 a month fee to pay online you are looking at $59.40 a year in fees just for this! While this really might not seem like much at all on its own just imagine taking all of these small fees and even more that are available and adding them up together. A cash advance is suddenly looking quite affordable since you could get the money you need to pay several bills and keep from paying late fees. Of course, consumers who are not responsible can become trapped into debt, but those who are smart can use a cash advance to their benefit and save a ton of money in the end.…