Only Borrow Money in Emergency

Avoid Quick Cash Advances and Save Money

All over America, families struggle with their finances day in and day out. Some families struggle just to pay their basic bills and many of these families run out of money before their next payday. Faced with a financial crunch, some families turn to companies that make cash advances; however, this is not always the best option. Cash advances carry hefty fees and must be repaid on the borrower's next payday and in reality, they don't really solve a financial crisis. Sometimes, in fact, the situation can be made worse by taking out a cash advance. Although it is not easy, if you are able to deal with financial problems without incurring more debt, you will be better off in the long run and suffer less stress and anxiety. You will also save money.

There are ways you can avoid getting put in the situation where you need a cash advance. One way is to make sure you have an emergency fund. Even having as little as $500 set aside in an emergency fund can make all the difference in the world when you fall on hard times. Regardless of how tight your budget currently is, just setting aside a small amount each week will get you set up to deal with an emergency or unexpected bills. If you find it difficult to save and you already have direct deposit at work, ask your employer if a portion of your check, even an amount as low as $10 can be deposited into your savings account. Other ways to save money can be found at www.AmericaSaves.org.

By creating and maintaining a household budget, you can track your income and expenses and find even more ways to save money. It really opens your eyes when you write down every dime you spend and it really encourages you to spend less the following day, week, or month. Your entire family can be part of your financial plan and will be more encouraged to help save money when they are involved. Pay yourself first: each payday; no matter how tight things are financially, set aside a small amount to deal with bills or other expenses that only come due once or twice or year. You can even be ahead of the game by budgeting for special expenses like holidays and vacations.