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Cash Loans for Short Term Financial Freedom

There are occasions when short term cash loans are needed. Many people face unexpected financial problems that they cannot afford, and if these people have no standard lines of credit to turn to then payday cash loans are often the only option. For situations such as vehicle repairs or unexpected breakdowns, short term cash loans are a simple way to get the money you need in an extremely short amount of time.

Cash loans often receive bad press, but you have to remember that cash loans are only as bad as the customer borrowing. When short-term cash loans are used sensibly and for legitimate purposes, it is better to have this option than no options whatsoever.

What Are Short Term Cash Loans?

Cash loans are called cash loans because they provide you with a fixed cash sum in your bank, which you pay back in full at a specified date.

Available either at brokers or online, cash loans can be applied for with a quick application process. Payday loans will usually not make a through credit check, and indeed most short term loan customers turn to bad credit loans because they do not offer money based on customer credit performance. So, with online cash loans you can get your hands on the cash you need within a day or two if your application is successful. The drawback to this however is the high rate of interest applied to short term payday lending. For example, if you borrow $500 then you can expect to pay at least an extra quarter of this back depending on the lender, which would mean paying back $625. This makes it worthwhile to consider other options available to you before you apply for bad credit cash loans.

It makes sense to research available lenders properly, as there are cowboy payday dealers out there. Use loan comparison websites to find the most popular and well-regarded lenders. You might not need a good credit rating to be successful, but having a regular income and being over the age of 18 are the minimum prerequisites to apply. Furthermore, some lenders will require that you earn over a certain amount each month.

Further Cash Loans Advice

The Annual Percentage Rate (APR) is what most customers use to compare traditional credit options, though things are different with no credit check cash loans. Instead of APR, it is a fixed fee that is applied to the amount you borrow, usually based on the fixed period of a few weeks. So if you are shocked at how high (APRs of around 500% and representative APR of up to 5,000%) the interest rates are, then understand that the short term repayment makes general APR rates misleading.


Managing Finances in a Relationship

If you are used to living on your own paycheck, managing finances when you are in a relationship could a totally different ballgame.

You may have two different incomes and your expenses could increase. If you are not careful, you may hurt your financial standing as well as the relationship. Money is still a very sensitive topic among many couples and you need to be more deliberate and open to keep your finances and relationship healthy.

First, you need to establish a budget that will satisfy your living expenses. Consider your utility bills, transportation, home mortgage and other basic expenses into this budget. Discuss from which account you will get the funds to fuel these expenses.

Second, discuss if you’d like to have separate or joint accounts. You may want to pool your funds together or have separate accounts for your savings. There is no wrong or right answer for this, but aim to have a decision that will work and be beneficial for you.

Do not forget to decide how you will go about your savings and debt repayment. Will you be consolidating your debts and pay them off as one entity or would you like to repay separate debts? Will you also be imposing a limited amount for luxuries? Who will handle your taxes and monitoring of your accounts?

As a couple, it is best that you are transparent about your needs, your past obligations and your financial goals with each other. One of you could have taken cash loans in the past which still needed to be paid today. Or, your spouse may have hidden his online loan only to surprise you with a collection bill one day. These things could spark hostility in the relationship later on if you do not disclose the loans and debts you have taken.

If you view your finances as one entity, an “ours” instead of “mine and yours,” it is essential that the couple respects the budget and is open for any huge expenses that can hurt your financial status. The couple should make huge financial decisions together so they are both aware where their finances stand and become wiser with their next purchases.

On the other hand, the couple could get bad credit to their name if they continue to spend without regard. Bad credit rating could hurt your financing options, like mortgage and loans to banks. It is always best to tackle these issues together and have an open communication to be able set realistic expectations of your financial health.

What’s Keeping You in Debt

Right now, you may be one of the millions of Americans who are in debt. Whether you have student loans, mortgages, credit card bills and other types of consumer debts, it is a common agreement that debts will continue to weight us down.

However, if you have not tried taking the steps towards debt freedom, you will find that you will always be in debt and that can go deeper by the day. If you dissect your habits towards finances, you might find that there are things that you do wrong that are keeping you in debt.

You splurge without thought. Sometimes you call this as rewarding yourself. While there is nothing wrong about rewarding yourself especially if you worked hard to earn what you have, there is definitely wrong about rewarding yourself meaninglessly. You might do it too often and chose all the wrong (and expensive purchases) all the time. You may also be doing it at the expense of your needs, like food, utilities and debt payments.

You believe that cash loans will always be at your disposal. That’s true: cash loans are now at your disposal, especially the ones that you find online. You take cash loans today to pay the fancy dinner tonight with your date. You don’t have no qualms about taking another cash loan even if the previous ones are not yet paid. You have bad credit and you don’t care. Such nonchalance about your finances, particularly about the cash loans you take, will haunt you sooner or later. Creditors are bound to be sending you notices of collection.

You don’t have a budget. What you need is a simple budget that allows you to see the breakdown of your expenses, where you overspend and where you can cut off to have extra money. But you don’t have one. Begin listing your income on one side and the expenses on the other. If you have more expenses than what you earn, then you are definitely living beyond your means. And you go into more debts because your income can’t afford the lifestyle you have right now.

You believe that having debt is normal. It may certainly be since you are not the only person in this world who does not have debt. But this mentality can cripple your finances significantly because you will keep coming back to the first three mentalities. If you make yourself a deviant to the norms, then you will feel how liberating it is to be free of debts.

You only treat the symptoms of your debts. You know you’re in debt because the bank has sent you a reminder or when the person who you owe money hinted that he now needs the money. So you go scrape up some cash and pay the debts off. You are happy to have them finally behind you, but one day later you are back to your old ways of mindless spending.

If you still believe that your finance is just a matter of having the right number, then you will certainly be in debt soon. You can use those numbers as motivation, but you also need to change your mindset and attitude towards money.

It is easy to slip to the temptations of what money provide you with, but if this is just temporal happiness at the cost of your more important bills and expenses, you will certainly do into debt. Take a look at your life right now and determine where your finances stand. It might help you get out of debt if you try to respect money and spend with discernment and integrity.

Loan Sharks

Loan sharks are unregistered fly-by-night money lenders who prey on unsuspecting and desperate borrowers by charging them with hefty interest rates. Borrowing from them may look like a viable solution to your monetary problem, but be warned: these lenders can resort to intimidation and violence if you are unable to pay, thereby compounding on your stress and financial struggles.

If you do find yourself in a financial stress, it is best to exhaust all your financing options first and never resort to borrowing from loan sharks.

Sweetening up the Deal

These lenders will sweeten up the deal by providing you with some quick cash even if you have bad credit and need a huge amount to borrow. They may not even require you to come up with documents or collateral. You are also not bound to a contract because there’s none and all you have is verbal agreement about the loan.

Bitter Payments

Once you get the money from the loan shark, you might think that you have found an easy way out. But the difficulties are just about to begin as you struggle to pay off the expensive interest rates. Even worse, when you can’t scrape up the cash that you need for the payment, these people can intimidate and harass you until you are able to pay.

Take Loan Sharks out of the Equation

Hopefully you’ll never find yourself in a very desperate situation that you contemplate about getting a loan from loan sharks. But if you do, you can try getting other solutions that aren’t risky.

Borrowing from government institutions and banks. You may try to take a loan from banks and government institutions. They will charge you with lesser fees and you are ensured that the loan is legitimate. However, these institutions do take their time in processing your application so if it’s an emergency, you can try exploring other options as well.

Legitimate private money lenders. These are companies that are legally-operating to lend you money. You can find cash loans that are available online and you can get pretty quickly. Moreover, unlike banks and the government, many of the private lenders are willing to accommodate your loan even if you have bad credit. The interest may slightly be higher, but the processing is quick, making it an ideal solution for urgent money fixes.

Borrow from a friend or relative. It may be humbling to borrow from a friend or relative, but sometimes, it is the best solution. These people may lend you money out of good faith and the intention to help, so they may not charge you with an interest anymore.

Selling some stuff. This is a good idea if you can bear to part with some of your things in order to raise some funds. You can post the stuff you sell on craiglist or have a yard sale over the weekend. This could help de-clutter your home as well as get extra money risk-free.

Needless to say, dealing with a money problem is not just financially straining but emotionally draining too. However, if you can spot problems early on, you can already prepare a solution that will not put your life and finances at risk. Furthermore, you can put loan sharks totally out of the equation by keeping your finances under control. Try to save a portion of your income for emergencies and invest the others so they continue to grow. When life catches you unaware, you know you are aptly covered.