Spend only what you can afford
The holidays are approaching. You need to buy presents, bring wine to parties and somehow pay for it all. We all know that the holidays can be tough on your wallet. This is why I’d like to encourage you to spend only what you can afford.
Make a list and check it twice
Go through the list of presents that you need to buy and other gifts. Is there some way that you can make a cake or bake some cookies with items you may already have in your pantry as opposed to buying a nice bottle of wine? I’ve found that people are usually more appreciative of these types of things. Sure, it may take a bit of time, but there’s thought behind it and it saves you money!
Save with online shopping
If you need to do some shopping, why not at least do it online? Amazon has lots of great items that are usually cheaper than you could find them in a store anyway.
Try to skip the discount cash advance
If one of your goals for the new year is fixing your credit, then see if you can pass on the online payday loan this month. It’s probably asking a lot, but setting the groundwork now might just help you get off to the right foot in the new year. If its not possible, then go ahead and take it out. But starting in the new year, I’ll be walking you through the steps weekly to make sure that you can take the small actions to get your financials back in order.
Make a game out of saving
If you need to stay motivated, just consider what you can do with your savings. Look at the prices in your local chain stores and then compare them to Amazon. Is it cheaper to order online? Then pay yourself the difference!
Take these 5 steps towards fixing your credit
One of the first steps to getting your household financials in order is to make sure that you take steps to fix your credit.
While there are reasons to get an online cash advance, there are an equal number of reasons to try your best to avoid it. On the internet, there are also a number of bad apples out there who do not do a good job of looking after your best interests. These bad actors may make recovering from financial whirlpool even harder
1. Check your credit score
Before you can fix your credit, you’ll need to know what you score is to measure. There are a number of services out there to check your credit score quickly online. Really though, you should stick with one of the main three credit bureaus in the US that report your scores. You can choose any one of them to get your score:
- Equifax – www.equifax.com P.O. Box 740241. Atlanta, GA 30374-0241. 1-800-685-1111.
- Experian – www.experian.com P.O. Box 2104. Allen, TX 75013-0949. 1-888-EXPERIAN (397-3742)
- TransUnion – www.transunion.com P.O. Box 1000. Chester, PA 19022. 1-800-916-8800.
You get one free credit report check per year, as mandated by the government. So, you won’t have to worry about shelling out money to get back on the right track.
2. Stop using credit cards to fix your credit
Fix your credit by cutting down on credit card charges. Freeze cards if you have to.
If you’re serious about fixing your credit, you need to stop the cycle of changing things that you cannot afford. If you’re worried about needing them for true emergencies, you can always freeze your cards…. literally.
Ideally you should take this to also mean stopping the use of online cash advances if possible. While they are good for an emergency, just like credit cards, they can get out of control if they are not properly used. There are also alternatives to payday loans that can help you get your finances in order.
3. Add up all your bills
Before you can make a budget, you need to have an idea of what all the bills out there are that you need to pay off. At this point, the numbers may be overwhelming. Just gather up all of your bills and write down what you need to pay off.
4. Make a rough plan
Budgets can be overwhelming. Since we are right now just looking at what to do in the present, we’re not going to worry about budgeting out all the little things. Just know generally how much you can set aside to pay off your debt and bills. One of the problems with waiting until the end of the month is that then you may not have any money left over for your bills. Instead, pay the bills as soon as you get your paycheck.
5. Spend only in cash
Multiple studies show that we spend less using cash and are at least more aware of how much we spend when we use cash. Use this mindhack to help get your financials back in check. You can go back to using cards responsibly and get off cash only after your finances are back in check.
Payday loans are not available in all states
They also have different maxium loan amounts!
First of all, not all states allow payday lending. Because, different states have different terms for payday loans, it is important not to take a quick look at our list below. In addition to states either allowing or not allowing payday loans, especially relevant is the fact that there are laws that regulate payday loan state maxiums.
If you find yourself in a situation where you need to get a payday loan, then it is best to make sure that you:
- Check the list below to see if your state is included and what the max loan amount you can expect is.
- If its not on the list, double check here.
- Once, you know what you can get on the market, go to our list of associated payday lenders.
Sometimes, you will find that even if you are on the OK’d list, the online lender may have choosen not to do business in your state. Furthermore, you can apply online anyway and leave the homework to the loan companies. Rather than worry about if you fit the criteria before applying, they will tell you outright whether or not you qualify based on an automated checklist that they have.
So to get started with step one, there are the basic overviews of loan amounts by state. Remember to check out further information in the link if you don’t see your state.
Payday Loan State Maxiums:
States with a payday loan amount max less than $500
- California ($300)
- Louisiana ($350)
- Minnesota ($350)
- Montana ($300)
States with a max $500 loan amount
- Florida (exclusive of fees)
- New Hampshire
- North Dakota
- Oklahoma (exclusive of finance charge)
- Rhode Island
- South Dakota
States with a payday loan amount max above $500
- Delaware ($1000)
- Hawaii ($600)
- Idaho ($1000)
- Illinois ($1000 or 25% of consumers gross monthly income, whichever is less)
- Indiana ($550)
- Michigan ($600)
- North Dakota ($600)
- Oregon ($50,000)
- South Carolina ($550)
- Washington ($700 or 30% of consumers gross monthly income, whichever is less)
Finding more information on payday loans
In conclusion, different states have differnt laws and the payday lenders need to play by these rules. If you want to learn more about then lending practicing laws in your state, I encourage you to check out this website on payday lending state statues.