People read about the concerns with payday loan fees, but if you read between the lines and see how much more value it has than just a money loan, you will appreciate how cost effective they truly are.
Keep you account balance low. Wait for your next paycheck to come, maybe in a few days, or sometimes a week or two. Take a look at how many payments will be needed to payout of that account during that time. Is there room for all the everyday extras? Will you be able to fill your gas tank, or buy a coffee, pick up a few last minute things at the grocery store? Many times it is these kinds of purchases that go unnoticed and deplete the account quickly.
- If you miss payments…you will pay late fees.
- Over draw on your account…overdraft charges
- Spend over your credit limit…limit fees
- Skip a payment….fees
- Take cash from your charge card…high interest fees that get paid off last on your balance
- Lower your credit score with reports of these negative actions
A payday loan buys you so much more than that extra cash, it saves you money, headache and does not affect future spending.
