Would you use cash advance loans to pay credit card bills? Would you use credit cards to pay student loans? Would you use either one to pay medical bills? Some people don’t stop to take a closer look at the best way to make affordable payments on-time and with the least repercussions. With credit card debt weighing heavily on future finances and short-term loans eating at paychecks, there has to be a better way to manage costs. If there was a simple answer, this world would be debt free.
Lots of times, households begin on the wrong foot when couples charge their wedding. Large purchases and especially multiple charges add up quickly to give the newlyweds a large chuck of instant debt. They worked out all the figures ahead of time and realized that with the two incomes, they could afford the monthly payments. The balances are whittled away very slowly and that expensive wedding day continues to grow in price. True love is priceless, but I don’t think this applies to credit card payments. Plan your wedding ahead of time by saving money in order to pay for the components with cash. Some couples are lucky to have family or friends to help out.
Unnecessary small cash advance loans can topple budgets.
College tuition is another one of those ‘for the betterment of life’ activities, but using a charge card to make higher education affordable is not a positive decision. There are plenty of federal student loan programs as well as private lenders who will charge much less in interest for the pricey tuition costs. Incorporate room and board as well as book and other essentials to keep from using online cash advance loans or credit cards for the small stuff. Most college students are broke and charging or borrowing money will only promote unnecessary financial problems.
Medical costs are another one of those costs which can get people into fast debt. How you handle it will determine how bad the debt looks on your credit. Fill your credit cards with office co-pay visits or filling prescriptions and debt begins to pile up. More often than not, an occasional trip to the doctor can be handled by credit cards and short-term loans without creating major budget problems. Unfortunately, there are many people who have reoccurring medical costs. Most medical billing offices will work out adjusted rates or create payment plans according to the person’s personal financial situation. It takes the patient or family representative to place the call and ask for help. Call your doctor’s office and find out who would be best to speak to concerning help with health costs. The billing offices will more often than not be more flexible than creditors or direct lenders.
In order to keep finances in order and allow your income to work as planned, there needs to be a plan for ‘other’ costs. Maybe you look for better insurance, build an emergency fund or just show some patience when it comes to purchasing higher priced items. Give yourself time to save, borrow from a friend/relative or get affordable help with high priced expenses. Small emergency costs may work well with cash advance loans online or credit, but if they are not absolutely necessary, find other ways to pay for these as well.
