Let’s face it: It’s hard to make ends meet these days. Millions of Americans – even those that earn big paychecks – struggle with debt. There’s no easy solution, but here are a few simple tips to help you get started. And remember, payday loans can be a smart way to avoid more costly forms of credit, but they’re not a long term solution for debt. For more information on when and when not to use a payday loan, click here.
The first step in taking charge of your debt is to make lists. Like lists of what you owe this month - utility bills, phone charges, rent, car payments, loan payments, and other expenses. Once numbers are on paper instead of in your head, they are a little easier to face. If your list of expenses adds up to more than your take-home pay, you'll need to look for ways to cut those expenses.
Whether you are talking about clothes, books, cell phones, or cars, you can usually save a bundle when you buy "pre-owned". Now before you scoff at the idea, consider this: second generation isn't what it used to be. These days you can go online and buy great stuff while saving a bundle. Need proof? Just go to eBay.com or Google.com and search for "used cell phones". You'll be amazed at what you find.
Many people like to imagine what it would be like to jet set off to their private vacation spot. But big trips can put you in an even bigger financial hole that takes months to recover from. Instead, think about road trips you could take near your home town. Live in Houston? Hop on I-10 and head west for the Hill Country. From Detroit? Why not take the 401 east and spend a weekend in Toronto, eh? No matter where you live, there are great get-away spots within a couple hours' drive.
A night for two at the movies can cost you $20 - $30. Throw in dinner and you can easily spend $50 or more for one night of entertainment. Instead, try renting and see how much you save. Better yet, swing by your local library. Many of them carry DVDs that your can rent for nothing more than the cost of a library card. Put the money you save into a savings account - or better yet, use it to pay off loans, credit cards, or other debt.
Many people have old or incorrect information on their credit reports. You need to know exactly what is on yours to ensure you're not being punished for something someone else did or something that happened a long time ago. So, get a copy of your credit report by contacting one of the three major credit reporting agencies (Experian.com, Equifax.com and TransUnion.com). Review it and get rid of anything that is outdated or just plain wrong.
Unless your checking account is already loaded with perks, odds are you can save by shopping around. Some offer free checks or no ATM fees. Others pay interest for keeping a minimum balance. Analysts say that most customers can put an extra $100-$200 in their pockets annually by choosing the right checking account.
There are many simple things you can do around your home to reduce your monthly bills. For instance, turn down the temperature on your water heater to lower the gas bill. When doing dishes or laundry, make sure you're only washing full loads so you don't waste water and electricity. Even fixing a leaky faucet will help. Add it all up, and you could see you bills go down 10%, 20%, 30% or even more!
Credit cards can be a good tool if used properly. But if you rack up a lot of charges, they can become a big financial drain. So make sure you pay more than the minimum to get your balance down. Always pay on time to avoid expensive late fees. And if you are charging too much, start using cash instead. You'll find yourself spending less.
If you're like most people, groceries are one of your biggest expenses. The best way to keep your grocery bill in check is to plan ahead. That means making a list and sticking to it. Impulsive shopping won’t lead to saving money. Also check out coupons and store specials to double or triple your savings. And remember you can score big by buying in bulk, especially on basic items you use a lot like coffee, bread, cereal, etc. Follow these tips and you might save $50 or more each month.
One great thing about holidays is that afterwards, stores need to get rid of all the things they stocked up on. Know any kids who need presents after Halloween? Costumes can go on sale for 75% or more. If you've got a place to store them, pick up next year's Thanksgiving decorations right after this year's turkey day. And you can save a bunch on other items (cards, gifts, etc.) during other holiday sales.
Instead of spending a lot on gifts for others, try to come up with something more simple and personal (and less expensive). For example, put together a photo album or scrapbook for a loved one. It might take a little more work, but they'll appreciate the effort. And you won't have to spend the next month paying it off.
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and its affiliates offer payday advances, installment loans and credit services
only to residents in those states where permitted by law. To obtain a loan, you
must have a valid checking account and email address. In most cases loans will be
funded the next business day without requiring any faxing of information unless
we are unable to verify your application information. Great Rates refers to rates
as compared to other similarly licensed online lenders.
This is an expensive form of credit. PayDay One loans are designed to help you meet
your short-term borrowing needs. Appropriate emergencies might be a car repair,
medical care for you or your family, or travel expenses in connection with your
job. This service is not intended to provide a solution for longer-term credit or
other financial needs. Alternative forms of credit, such as a credit card cash advance,
personal loan, home equity line of credit, existing savings or borrowing from a
friend or relative, may be less expensive and more suitable for your financial needs.
Refinancing may be available and is not automatic. Refinancing your loan will extend
the term of the loan and result in additional interest charges. Late fees and non-sufficient
funds/returned item fees may apply as described in your Loan Agreement. We will
never charge you any "hidden fees" that are not fully disclosed in the Loan Agreement
or the Loan Cost & Terms. If you don’t make
a payment on time we will attempt to contact you via one or more authorized methods.
We adhere to the Federal Debt Collections Protection Act (FDCPA).
Because we may report your payment history to one or more credit bureaus, late or
non-payment of your loan may negatively impact your credit rating. If you fail to repay your loan in accordance with its terms, we may place your loan with or sell your loan to a third-party collection agency or other company that acquires and/or collects delinquent consumer debt. Customers with
credit difficulties should seek credit counseling.
First time PayDay One customers typically qualify for loans from $100 to $1,000.
The foregoing are examples only — loan amounts, loan repayment terms and applicable
finance charges vary by state and are governed by your loan agreement and relevant
state law. Please see Loan Cost & Terms
for more details.
CONSUMER NOTICE: Payday advances should
be used for short-term financial needs only, not as a long-term financial solution.
Customers with credit difficulties should seek credit counseling.