Are you one of those who lifts up a bit of the edge and slowly and surely pulls it away from your skin one milometer at a time? Or are you one of those who likes to get things over and done with so you rip the thing right off in one full swoop?
People take care of their finances in similar ways. Some like to take the long slow route and milk the payments over as long as possible so that there are only a few extra dollars leaving their account each month. That definitely is one option to solving money problems. One area that is risky with this option is having that account open for too long and other unexpected costs arise and the small money that was billed out each month is now snowballing into a larger amount.
Taking the “rip it off quick” option is similar to those who find cash advances a great way to solve their small money troubles. Apply for the loan and get your money quickly, then pay it off with your next paycheck. No lingering payments, no lingering costs, and the budget is clear for the next time something arises.
