by Jim Moriones, Negosentro.com |
Take Our Quiz: Are You Responsible to Manage a Payday Loan?
Are you having trouble making ends meet? One of the most popular options today is the payday loan. It is an excellent option to pay that important and necessary bill that simply cannot wait. Paydayloan 123 offer short term loan options to individuals and families in need of assistance. Take our self-quiz and read the answers below to decide if a payday loan is the ideal option for you:
Do You Have a Budget for Your Finances?
This is an important factor to look at. Many people are responsible with their finances, but an unexpected financial obligation comes up. We cannot predict everything that occurs in our lives. If you do not have a budget for your regular expenses, we recommend starting one, as it will help you learn to manage your money more effectively. Lots of people turn to payday loans as an option to get by when that pinch comes. Understanding if you are spending your money in ways that do not help you meet your long-term goals is something only you can do.
Do You Have Credit Cards?
b) Yes, with a lot of credit card debt
d) Not yet
e) I’ve been turned down for credit cards
Many people who choose payday loans select them because they are unable to put short-term debt on their credit cards. They either do not have credit cards or have too much debt on them. A credit card isn’t always the ideal solution that a payday loan offers you because most credit card companies will not raise your credit limit when you are in the situation to need it. If you do not have credit cards, now is the time to set the goal to think about getting a credit card or perhaps a secured credit card to build credit.
Do You Have a Savings Account?
b) I used to, but don’t now
d) I can’t afford to put money into savings
e) It is too hard to save money
Your answer to this question will tell you a lot about your financial planning. Remember that when you obtain a payday loan, you have to pay it back. Payday loans are also given with some interest, just as any type of loan or credit card would offer you. If you are a recent graduate and do not have experience with a savings account, then you may simply be new to managing your money. But if you have had trouble keeping a savings account then this is something to consider working on improving. Try saving just a small amount each week and watch it grow. You will be encouraged to save even more.
Individuals and families who choose payday loans understand that it helps them out of a challenging situation. It can take care of that back rent, car care or the plane ticket to see family during the holidays. But you must have a plan in place to pay the money back. Managing your money responsibly is key to using payday loans to their best advantage, so they are there to help you exactly when you need them the most of all.