Good Spending Habits Help Avoid Payday Loans

We live in a consumer driven world. Marketers tell us what we need. Friends tell us the latest cool toy they just got. It is a smattering of newness. Yet, you are strapped for cash and you want a new iPod. So how do you avoid going to get a payday loan to snag one of those shiny new iPods? We are about to tell you!

Freeze your credit cards

Credit card debt is a killer. Before you rack up the debt on that card and then go running to get a payday loan to pay it off try freezing your credit cards. Yeah, put them all in a bowl of water and then freeze them. This means you have to thaw them out before you can use them

This helps because as the card thaws you have time to think about that purchase. 9 out of 10 times, you will come to the conclusion you don’t really need that new item. Put the cards back into the freezer and take pride in knowing you can save up money for that new toy.

Budget a blow fund

A blow fund is money set aside to blow away as you please. You must budget this amount and stick to it. It might cause you leagues of pain to sit down and budget, but doing so will help you avoid worlds of great pain in the payday loan building.

Now that you have a blow fund, you can freely spend that money on what you want. You will have to save that blow fund if you want a new toy that is more than your blow fund currently has. Using a blow fund will help take the worry out of what you are spending money on.

Use the envelope system

There is this long lost art of using envelopes to budget money that seems to be in memories past. Time to correct that. Here is what you do. Get some envelopes and write down what they will be used for. Items like groceries, blow fund, movies, videogames and so on. Now you put money in these envelopes. The money in the envelopes is what you can spend. You are done spending until it is the correct time to restock the envelope.

Trade some labor for quick cash

So, your envelopes are empty and you really want to see that new movie that just came out. Don’t hit up the payday loan service. Go help a friend paint a room for $5. Offer your expert trade skill services in exchange for a few envelope bucks. You spend more time with people and you get to fill that movie envelope with a bit more greenbacks. You might even snag a free meal as well. Score!

It sucks having to wait for new toys. We have become a society of want it now get it now. There is more satisfaction in that new toy if you pay for it with your own money. Avoid the urge to snag a payday loan to buy that new toy. You’ll be happily richer as you did not just pay the high financing charge the payday loan shop was going to charge you. It is full of win!

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