Tools and Tips
Latest ArticlesWhy You Need to Keep an Eye on your Credit Score Difference Between Your Personal Credit Score and Your Business Credit 10 Top Credit and Debt Tips |
|
BillSavings.com BlogHoliday Gift-Giving Through Payday LoansPayday Loans Make Holiday Gifts PossiblePosted By Mindy
BillSavings.com Brief:
If you’re in a financial bind this holiday season, consider taking out a payday loan. It may be the most practical way to get through the season without incurring too much debt.
For some, the worst thing about the recent recession is not being able to afford holiday gifts for loved ones. If you’re in this situation, you can relate. It’s hard enough to have to struggle with your own bills, but to have to disappoint family and friends during the holidays is even worse. Fortunately, there may be an alternate avenue. Payday loans can provide the cash you need to buy those gifts – but they’re only worth considering if you take a few precautions. First – decide whether gift-buying is essential Nobody wants to let down the people most important to them, but consider this: is it really crucial to purchase a holiday gift for your friends and family members? You may be loathe to forego the gift because you don’t want them to know about your struggles – after all, nobody wants pity. But consider a different options: they might completely understand your situation. After all, the credit crunch and bum economy is not your fault. It’s completely understandable if you still feel the need to purchase gifts. It’s especially understandable if you know other people are getting you gifts and you want to return the favor. On the other hand, if you do decide to go without giving holiday gifts this year, communicate this to your family and friends. Explain your reasons. You might also ask that they not give you anything as well, to balance out the situation. Second – if gift-buying is essential, trim your list If you’re still set on giving gifts, start by trimming your list of recipients. This is not the year to buy gifts for every co-worker and friend you’ve ever had. Think about the people who are most important to you in life and put their names on your gift-buying wish list. If there are still other people you’d like to shop for, put them at the bottom of the list. If you have any extra money once you’ve bought your top-priority gifts, you can shop for them as well. Third – Consider alternative gifts An alternative option to gift-giving is along the lines of “creative gifting.” Rather than buying a traditional gift from a store, you could come up with unusual gifts that don’t cost any money. For example, you could offer to do a chore for someone that you know they’d appreciate. Maybe you could rake their leaves or clean out their garage. You might also give the gift of a meal to several loved ones. Cooking a nice dinner for your family or friends can easily work out to be cheaper than buying each of them an individual gift. Fourth – Bargain shop If alternative, non-purchased gifts don’t work for your needs and you’ve got to go buy presents, make sure you shop for bargains. Don’t visit stores and buy gifts on a whim – instead, carefully plan out what you intend to buy and then shop around for the best prices. Look for sales, coupons, and discounts. Consider other options for cheaper merchandise, like using cashback bargains from your credit card company. Fifth – Get money (carefully) through a payday loan All things considered, payday loans may be the answer to your gift-giving needs. Provided you have a job and proof of a steady paycheck, payday loans provide you with upfront cash. This means you’ll have the money you need to buy gifts in time for the holidays. Many payday loan businesses offer instant loan approval so your money can be available the same afternoon you apply for it. Other payday loan businesses forego checking credit reports, so if you’ve had a sketchy financial past (which of course, you’re working to remedy!), you can still get approved. Sixth – Make plans to pay back the money you borrowed Payday loans can be absolutely practical when you’re in a financial bind. But if you don’t pay back your loan according to the terms you accepted, you’ll find yourself in a heap of financial trouble – eventually owing much more than you borrowed to begin with. That’s why it’s crucial to adjust your spending habits until you’ve paid the money back. Shop frugally and live economically until your payday loan is paid in full. Category: Debt Solutions 12/9/2009
|
|
|
