Applying for a cash advance is one freedom that is used quite often in the troubled economic times of today. Online cash advances are on the rise alongside personal debt. One is not the cause of the other, but having a cash advance out without the means to pay it back certainly does not help peoples’ financial situations.
Debt is a major problem in America from household to city, state to the national government. The country was founded on the basis of freedom, but has financial freedom created the trouble? Before the times of credit cards, people used what they had. There was a barter system, lots of living off what nature provided and limited consumables. The stores would keep a running tab and transactions occurred with a handshake or the thrust of someone’s word. Collections were addressed by closing the tab and refusing additional transactions until it was paid off.
Life evolved introducing new demand which created more options and industries bloomed. Today, the choices available are over the top. Now people are struggling to pay for basic needs when many do not want to cut back on wants. The freedom to use third party money with the promise to pay it back has debt wreaking havoc in people’s lives. The rise in the cost of living has grown at a faster rate than many incomes, and the use of third party money has become a way of life instead of a luxury. Some people are making car payments on credit cards and paying utility bills with online cash advances.
The ease of cash advances or new line of credit has kept some people from cutting expenses.
Instead of limiting extras or cutting wants out of the budget equation, people continue to take the liberty to spend freely. There is no denying that running a household is expensive, but when the income does not cover expenses, it would be a good practice to cut back instead of continuing to build debt. Cut backs are uncomfortable. It may seem unfair and unjust, but is debt beyond one’s affordability a freedom right or mismanagement of a budget? Tempting as new products are, there is nowhere that says you could not live without it. Choices are freedoms and we all have the right to live the way we choose. So where is the accountability?
City governments are going bankrupt, states are struggling to keep up with the demand and our nation’s debt is beyond common comprehension. Buying a home in this country in the last decade has created uncontrollable debt for many. People are losing their homes left and right as they continue to not be able to afford payments. Credit card debt leaves little flexibility to pay for unexpected or emergency costs. The online cash advance and payday loan businesses have blossomed to assist with the additional urgency for money. When the bottom line will not cover it all, what does a person, a business or even government do?
Cutbacks interpret into less money going into businesses and jobs are threatened. Unemployment and underemployment creates more dependability on government money. It is a cycle of debt that our freedom to spend has created. Many folks have stopped spending on credit, using an online cash advance when absolutely necessary and paying it off to limit further debt. It is a strategy which is working for those who are putting all their efforts into becoming debt free.
