Recently while paying bills I discovered a horrible thing, my first mortgage interest had risen. Frustrated I scrambled to find a way to solve the problem. To no avail I could not find a way. Desperate in need I went to one of the payday places. In doing this I realized I am one of the many that have started to depend on these places, but why?
The economy and how hard it has been is stretching our wallets to the limits. Mortgage companies raising interests, gas prices going up, food going up and paychecks remaining the same. It becomes harder and harder to make any type of end meet the other. I am not advocating these payday places nor am I saying they are bad, what I am saying is to have to go to one of these places makes me annoyed.
I don’t agree with the law that wanted to be past where I live to block how many of these types of loans you could take out. After all I have had to do a few myself, but the interest rates are out of control and yes like others I suffer because of that. A solution to this problem, is there one?
If people take a look at really what is going on here that some of us, with you can say a decent income, are depending on these places, something is seriously wrong. I have come to realize that no matter what I do, there is always something there to kick the money out and leave my wallet emptier than it was.
The topic of payday loans has hit my state with a storm. On the news and in the paper you can pass stories about it constantly. Some hate the interest rates, others somewhat saying they don’t like the loans but have no choice in getting them. For me I hate not having a choice.
I have come up with a few options in not getting one of those loans.
Option 1: Budget better
There are so many times when budgeting is the problem to everything. Of course when you don’t have the money to begin with, budgeting makes no sense. Taking the time however to budget can save some money for next time.
Option 2: Car pooling
If you can car pool, yes it may cost some money for gas on occasion. However, in the long run you may save some money and also help the environment as well.
Option 3: Coupon cutting
Yes the dreaded coupon cutting idea. Many people may think cutting coupons is a waste or beneath them. It is not beneath me. I am going to try and save whenever I can. A few cents here and there may make the difference in whether or not you have gas money.
Option 4:Left over food
Yikes, did I say left over food? Yes I did say that. Leftovers from meals can help conserve the amount you have to buy in food. Having food that can make a few meals and even get you leftovers will cost less than trying to buy say twenty specialty meals.
Option 5: The night in
Oh I know the night in. Makes for a boring one, doesn’t have to be. This idea can save you loads of money. Think about how much it may cost for a meal out or how much it may cost for a movie out? Not to have businesses make money, but when you need to save money you may have to cut back at times. Try a movie inside, rent one, have some popcorn and relax. It can always be fun because you don’t have to deal with a lot of people or bad lines.
Finally, always remember you can make due. It will get better, may not look like it, but eventually that light will shine again for you.