Possible alternatives
Posted on Thursday, November 19th, 2009 at 10:36 am in Financial Planning
The first and foremost suggestion would be that you build on your savings by cutting out those extra unnecessary expenditures. At the end of the month, this may help you have an emergency fund for unexpected outlays.
Lend short term loans from friends if you can. In case you are caught in payday loans, try considering an extra part time job to pay off your loan and get out of the cycle as soon as possible. Work overtime for the bonuses. Or request your employer for a paycheck advance and pay off your loan. As it has no interest attached to it, all it would take from you would be a careful and meager expenditure that month.
There may be other alternatives to payday loans. If you are looking for quick cash, try small bank loans or Credit union loans.
A good way is to sell or pawn things that are useless to you but have some monetary value. You may lose a few dear possessions, but occasionally everyone has to make those sacrifices.
Cut out on bills that increase your month’s expenses unnecessarily. This will add to your savings.
Adjust the taxes that are withheld from your monthly salary. There is no need to allow extra money withheld than you need to.
There must be local organizations which lend money to help the people of the locality. Approach them before turning to a payday loan company. Sometimes, local churches and human help organizations may also offer monetary help.
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I no longer have a bank account. Im wondering if its possible to to have funds applied to my account now visa card? Its a reloadable visa debit card.