Never Be Late Paying A Bill Again

Published On January 27, 2016 | By Camden Leon | Finance

Let’s face it – life can be unpredictable. Unforeseen expenses can rear their ugly heads at the most unexpected moments. Having a savings account for emergencies is an excellent way to stay ahead of the game and enjoy greater peace of mind. By storing away as little as five dollars a week, you can make sure you always have a little extra money put aside just in case things get out of control. Saving, however, is easier said than done. Numerous people live paycheck to paycheck and have very tight budgets, which can make setting aside even just $5 a week a difficult feat to accomplish. Fortunately, there are alternative ways to cover those unexpected moments without a savings account.

One popular choice in recent years has been short-term, small dollar loans. According to The Center for Responsible Lending, the payday loan industry has grown to over 22,000 locations nationwide since the 1990s. Unfortunately, many of these businesses are known for their high interest rates and limited repayment options. Without working with their borrowers, these companies set them up for failure by offering loans with terms and conditions that are outside of their financial abilities. Often, this forces an individual to roll over their loan, incurring fees each time. In fact, the average unwise loan customer remains indebted for over 200 days out of the year.

The key to your financial success rests in the practicality of your loan. Don’t accept a large sum of money expecting you’ll be able to pay it back just because a company approved your application. Your loan must be incorporated into your budget and must be something you can reasonably pay back by the time of its due date. Its success will also rely on the credibility of the lending company you choose. While there are some companies that purposefully offer excessive fees, there are others that offer reasonable fees, rates, and conditions in full accordance to your state’s lending laws.

The easy way to locate a lender that you can trust is to go online and examine their website. It should be clear from the homepage that they offer flexible, customized loans. Rather than a ‘one-size-fits-all’ approach, these companies will offer different options depending on your financial situation. If it’s feasible to repay a small dollar loan by the next time you get paid, a single-pay loan is right for you. If your current finances make that impossible, an installment loan is suggested. These loans allow you to repay the principal back over a longer period of time in installments that coincide with your paydays, so you never find yourself overreaching when paying back your loan.

To learn more about the differences between these kinds of loans, stop by Moneykey.com/payday-loans-online.php. As a state licensed lender that has your financial health in mind, they offer single-pay loans, installment loans, and lines of credits to accommodate different financial profiles and needs. Together, you’ll find a loan that fits your situation and you won’t find yourself accepting a loan outside of your means. All you have to do is go online and apply.

Within as little as one business day, you can be connected with a short-term, small dollar loan that can help you through the tough times. Unexpected bills and unforeseen expenses won’t be the cause of your financial anxiety anymore – even if you haven’t set aside significant savings.

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