I know the feeling
only too well. Most of us do in these times of financial uncertainty. I'm
talking about that sinking feeling when you just know in your heart that you
simply don't have enough money to cope with all the outgoings this month. Most
of the time you can scrape by but when something hits you out of left field,
something you wasn't anticipating then how on earth can you find the money to
cover it and still pay for the basics like food and lodging? Is an instant
decision loan the answer?
Only last month, I was
doing quite well. It looked like I'd be able to get through another month
without resorting to going without food and might even be able to buy myself a
new pair of shoes to replace the ones I was currently wearing which had a
discreet, but embarrassing hole in the sole. And then my boiler stopped
working. I made a few phone calls and the average quote was for around $300 for
a repair. I had no hot water to clean myself and no heating. Fortunately my
cooker is electric so I could still cook the food that I wasn't going to be
able to afford anyway.
Your situation might
not be as drastic as mine was, or perhaps it is even worse, but the point is
that your mind probably turned to the same idea of a solution as mine did. An
instant payday loan.
We've all seen and
heard the commercials right? What a fantastic way to get yourself out of a
tight spot! But if you're anything like me, you also heard a few alarm bells
ringing in the back of your mind somewhere. And so, before jumping in to the
nearest loan shark infested waters I took the time to do some research. I spent
a whole day lurking on financial forums and discussion groups and eventually
plucked up the courage to ask a few knowledgeable people about instant loans
and what to look out for. Here are some of the words of wisdom I received from
these financial 'wise old men'...
An instant payday loan
does what it says on the label. You get an instant decision loan. Pay it back
on your next payday.
If under any
circumstances you don't think you would be able to pay back the full amount of
the instant loan on your next payday, then run away as fast as you can in the opposite
direction because guaranteed, you will end up in a far worse financial
situation a little further down the road than you are right now.
If you are completely
sure you will be able to pay the full amount of the instant loan back on your
next payday then do your research. The internet has really opened up the market
for instant loans and they are all competing against each other for you. Make
them work to get you, not the other way around. Call a few of them up, tell
them that "so and so company offered me a rate of...%. Can you do any
better?". Play them off each other to drive down the deal.
Read the small print.
This is no joke. You are taking a big, big risk if you don't absolutely
understand every word of the arrangement. If you don't understand the jargon
then find someone who does. You have no idea how many people are facing
complete and utter financial meltdown because they didn't take this part
seriously.
No comments:
Post a Comment