You need to replace your cars tire and find out it’s going to cost you over $300. Unfortunately your bank account is empty and you aren’t getting paid for another week, so you resort to getting a payday loan.
Getting a payday loan is really fast and easy to obtain when you’re facing a financial emergency. You know it’s probably best to pay it off by your next check, but you’re still short on cash and end up being part of the majority of individuals taking out multiple payday loans. This is how people find themselves in the “vicious cycle”.
A $300 Payday Loan can end up costing you over $1500 in fees alone and when you add that up with multiple payday loans it can become really tough to pay back.
Because of this national epidemic we would like to share 25 ways you can get out of the Payday Loan Debt Trap. It is not impossible and we have many different ways you can accomplish living debt free.
When you are dealing with multiple payday loans with different interest rates and payment dates it can be really hard to keep track of every single debt. The Payday Loan Consolidation process will involve taking these multiple debts into one lower monthly payment. When you work with a reputable Payday Loan Debt Assistance, they can reduce your interest rates and sometimes even lower the principle. If you feel like this option could work for you please feel free to contact our team: www.paydayloandebtsolution.com/contact-us
When you find yourself taking out more debt to payback your current debt you aren’t solving the problem at hand. When you stop rolling over your payday loans and break the cycle of taking out additional loans you are helping yourself to be debt free. You might think it’s a short term solution to take out more debt, but even though it can seem difficult it is the smarter way to build a better financial future for yourself and eliminating your payday loan debt in the process.
Removing non-essential items from your expenses will free up more of your income. Maybe you can stop buying coffee once a day or order out less often and cook your meals. These are just a couple ways people can save thousands of extra dollars a year. If you become disciplined you won’t need to rely on any lenders and will have more disposable incomes in time of emergencies.
There are many ways you can increase your income. You can do anything from requesting overtime at work or you can also start working for Uber or Lyft. There are many opportunities and you can take advantage of them.
Eating at restaurants can be very expensive. An average meal could end up costing you 2 to 3 times more than what it would cost you to make yourself, while high end restaurants could end up costing you up to 10 times that amount. With the money you save you can end up using it for the things you are spending the payday loan money on.
If you have a lot of items that you don’t use you can always try to put it up for sale on www.Ebay.com or www.OfferUp.com. This will help you generate the extra income you need and can help in the process of needing to rely on any lenders.
Cable and Satellite Television can cost you over $100/month, which can easily add up to over $1000 per year. A simple solution is to get www.NetFlix.com or www.Hulu.com which have plans that cost under $100 per year.
If you are having a birthday party or receiving Christmas presents. Let individuals know that you would prefer cash over physical presents.
When the average individual uses their credit card to buy everyday items it can usually be a daunting task to track how much money you spend. When you only use cash you can give yourself a weekly allowance to make sure you don’t spend over your weekly budget.
Write down your weekly expenses and eliminate the items you don’t really need to survive. This will help you become disciplined and help you save money in the long run.
It has been proven that when you write down your goals you have a 80% higher chance of achieving them. What this means if you aren’t writing down your goals you can start by writing them down right now. Smart goals, which can easily be tracked, achieved and measured are the best way to go about this and can help you achieve whatever you want to achieve.
Are you educated in any specialty? Are you a teacher? Many tutors make over $50/hour, which can add up to extra disposable income. Whether you speak a foreign language or are good with numbers there are many individuals willing to pay you to teach them.
You can make extra money right from your computer on your spare time. Check out www.Fiver.com or www.Upwork.com
Babysitting is a great way to make money on the side. If you’re working a regular 9 to 5 job there are parents looking for individuals to take care of their children. You can print 500 business cards for under $10.00 on www.VistaPrint.com and pass them around your neighborhood.
If you’ve always wanted to start a business and have a great idea or ideas then it’s time to take action. There are thousands of opportunities you can take advantage of so you no longer need to depend on taking out more Payday Loans.
If you need extra income you can always rent out part of your place on www.AirBNB.com. You can also rent it out when you are out of town on vacation with the family, which can help you generate extra money even while you’re away from your day job.
Check out www.Rover.com if you love taking care of dogs. You can easily make between $20-30 per 30 minute walk, which can add up to some extra income.
Get a Credit Card that rewards you for spending and paying on time. Many credit card companies offer many perks that can help you earn free miles, which you could end up using for trips and vacations. Just make sure you pay your credit cards on time and needing Payday Loan Relief.
Once you learn to save and have disposable income you can start investing and grow your money. There are many safe options available and would recommend doing your research and invest wisely. Don’t fall for any get rich quick schemes which gets many individuals into debt in the first place.
For every 10 degree reduction in temperature you can save up to 5 percent on water heating costs. If you like cold showers you’ll save even more!
Despite being bad for you many people spend a lot of money on their bad habits. For example people who smoke one pack of cigarettes a day spend over $2000 on cigarettes alone. Whether you have a smoking, drinking or gambling problem most vices end up costing you a lot of money. Not only are they bad for your health and mental well-being, but can end up costing you a lot of money. If you find have addictions and can’t eliminate these issues on your own then you should seek outside help.
You will usually find the best sales right after the Holidays. The stores are left with an influx of products that they won’t be able to sell till the next holiday season likely in one year’s times. The stores want to avoid holding costs, so they let many of these items go at discount. If you get a big enough discount you can sell them or hold on to them for when you will need the.
Brand Names usually cost a lot of money because of the brand name. You can likely find a generic brand that is identical to the product(s) you want for pennies on the dollar. If you don’t mind generic brands you can save thousands of dollars on everyday items each year, which will help you generate more savings.
If you live nearby anyone that works with you then you both may benefit by carpooling to work. This will help both of you save money on not only gas, but on the wear and tear that both of your vehicles will take.
When you buy in bulk you typically get a big discount per item. Be smart shopper and save on your essentials. These extra savings can help you have more disposable income.