Juggling the income and household
expenditure is difficult enough but we have to do it month after month and we
have to make it balance.
If it doesn't then something has to
go whether the car, the planned holiday or the cigarettes. Borrowing money is
not a good idea if you know it is going to be too difficult to repay but there
are occasions where a very short-term loan until the next pay-day will help
when we are in a tight spot.
It cannot be over stressed that it
should only be taken advantage of if the funds are going to be available from
the next pay packet and that this is not going to put you in a position where
the following month is going to be even more impossible.
A loan should be for a specific
unexpected bill and not as a top up for your wages. Sometimes it can be used to
make more money and although this is not a usual reason for a loan I do know
someone who had a golden opportunity to buy a Rugby World Cup Final ticket last
year at a knockdown price but simply didn't have the money to pay for it as it
was close to pay-day.
He looked at these loans and decided
to borrow the one hundred pounds he needed for the ticket and was amazed to find
that after filling in a few questions on the loan company's website the money
was almost immediately in his account.
To draw it the very same day did
cost him a clearance charge of ten pounds but that was small fry when he sold
the ticket for four hundred and fifty pounds on an internet auction site three
days later.
The cost of that loan was just
twenty-five pounds on top of the principle sum so over all he came out three
hundred and fifteen pounds better off!
Perhaps I should not be putting
ideas like this into the minds of others and certainly you should study the
lender's website carefully and make sure you understand the charges and
conditions.
There is a strong argument that
borrowing here does not work out any more than some banks charges should you go
overdrawn or have your cheque bounce. In such a case if you are aware that it
might happen before payday then borrowing one hundred pounds to cover the
shortfall in your bank account might be the better course of action.
Whatever you do it is important to
have a thorough understanding of how quick payday loans work and what it is
going to cost you and this is all very well and openly explained on the website
which is extremely easy to follow and understand.
As long as you have a job with a
regular income and are over eighteen the other details you have to fill in are
straightforward to follow.
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