Well-earned complacency should have a short life span when it comes to finances. Maybe you paid off your cash advance on time and are feeling good. Maybe you finished paying off your car loan and now relish in the few hundred extra you have in the bank each month. Don’t let your self-satisfaction turn into financial smugness, because you just never know what may be lurking around the bend.
You paid your cash advance on time? Great job!
Paying those short-term loans off is something to be proud of. Not only did you take care of the initial problem in a low cost efficient way, but you also have prevented the effects of a short-term loan from causing additional problems. Now don’t get complacent about finances. Just because the pressure to fund extra costs is gone, it is time to use that same cash in order to save for future emergency problems. Financial complacency gets you nowhere fast.
Sure, you could defend the behavior on needing a rest, taking a break or trying to figure things out; but not working on a financial goal may come to bite at your budget another day. Most people who obtain cash advances online are those who do not have a savings account to balance out the budget expectations when unexpected costs appear.
Once you straighten out a financial problem, don’t stop. Use that momentum and prepare for future troubles.
- The money which was being spent on a now paid off bill could be used to build a savings account.
- A portion of the money could go towards paying down other debt. You can never be too debt free you know. In order to have debt show up positively on your credit report, it needs to be good payment history and less than 30% of the total balance limit.
- Why not use some of it and begin planning your retirement?
- Put a small portion into a vacation fund or start saving for an expensive want.
No one says you have to go without, but there should be a proper balance as to how your income is spent. Have you ever met with a financial planner to talk about where you are at what your future finances could or should like it? Do you have children which will someday want to go on to college or need a car? Where would you like to live after retirement and what kind of lifestyle would make you happy? There are so many questions which rely on your finances for answers.
It’s never too late to start planning for your future. The last thing you should do is be complacent about finances. It is a job which only shuts down when repairs are needed. Don’t let future cash advances or credit card debt break it down. Prepare for medical costs, loss of employment, death of a spouse, tuition, retirement and something to treat yourself from time to time along the way. You may not get that extra-large television in the short-term, but you will be more secure over time.
