Just when I think that I will not be able to handle paying off my cash advance loan online, I read a story about a couple who overcame $160,000 in debt in three years. My first thought was that these folks had a spending problem not a living paycheck to paycheck problem. There was no direct cash advance loan debt in the midst of it all. This couple each had good paying jobs but carried a “no worries” attitude about their finances.
My first thought rushed to the conclusion that of course they could pay off debt when they made so much money. I had to remind myself that having money does not mean there is no debt. Most often, the more a person makes, the more a person spends. In this couple’s situation, this was the case. In the interview, the couple admitted to being irresponsible with their income.
http://www.youtube.com/watch?v=QsJw75a6qds
Their solution to their debt problem may not work for many of us, but it sends a clear message that if you are truly serious about financial change, that it has to begin in the home.
- The wife had to learn how to cook. Admitting that no one in the house was a chef, they began to purchase ingredients according to recipe instructions. They both could cook when they stopped comparing their results with outside meals. They limited waste and cut down the food budget.
- They worked at cutting down other expenses. The first cost explores was to find cheaper insurance policies. They cut back on home and car insurances just by comparing prices with the competition. We often sign on with a company and just robotically pay for it year after year. This couple was able to lower monthly payments and then use the savings towards other costs.
- Because they both had secure well-paying jobs, they chose to consolidate their debt against their home. They had a longtime upstanding relationship with their bank, and a ten year consolidation loan was the end result. With extra money from cutting costs and a focus on the objective to become debt free, this couple was able to pay off the loan in three years.
Their debt was more than double their combined yearly income. Looking at the figure with this perspective, I can honestly say that my situation isn’t so bad. If they can do it, why can’t I? Why can’t you?
My first thought is to complain that I wouldn’t have the same opportunities as the couple had, but that gets me nowhere. I need to stop comparing myself to others and figure out what will work for me. Do I need to use a cash advance online loan or find a second job?
Take my money situation away from a cash advance loan online crisis and into the savings account.
- I will want to avoid needing an online cash advance or payday loan. Planning an emergency fund while trying to pay off other debt is tough, but I must in order to keep from adding more debt to the pile I am working so hard to shrink. I figure that if I can cut $50 – $100 each month out of other budgeted areas, I could slip that money in to the savings at the end of the month.
- I need to shop around for a new home and car insurance provider. Yea for a competitive market!
- I need to focus on paying off high interest debt. When my minimum payment is $125 and more than $100 is applied to fees, I need to lower the balance. With my credit score being so low, the creditor would never lower the interest. I already tried. You should try too, the worst they can say is “No”. Do you know how much of your income goes to interest each month? I do now. I would rather pay in full than give the creditors anymore more money than I do now.
- My budget needs an overhaul. Once I start making a difference in the amount going out, I will need to plan my funds in a proactive and productive manner.
I will keep striving for zero credit card debt. What I charge, I must have the money to pay it off already in the bank or coming soon. They did it. I can do it. How about you? A direct cash advance loan online is not the same as a credit card and I would be motivated to pay it off on time.
