Long terms financial health? Avoid Payday Loans and cash advances

If you begin to rely on payday loan on a regular basis, you will continue to build debt without a long term solution. We are here to tide you over for those short term needs, but you should consider finding a more sustainable long term answer.

Find simple ways to save

Just 1 or 2 of these tips can save you around $1,000/year.

Tips for finding money to save Monthly Savings Monthly Savings Bring lunch to work (saving estimated $5.00/day) $100 Substitute regular coffee for fancy coffee drinks $90 Eat out 2 fewer times a month (saving estimated $20/meal) $40 Pay credit card bill on time to avoid late fee $30-35 Bounce one less check a month $20-30 Save $.70 a day in loose change $21

Negotiate directly with your creditors

Don’t be afraid to ask your creditors for a lower rate. You can also negotiate for more time, or a payoff schedule.

Apply for overdraft protection from your bank

Overdraft protection is great insurance for overdrawing on your bank account. If you sporadically overdraw your bank account, see if your bank offers overdraft protection. Don’t forget to find out how much it costs and how it works – the fees can be quite pricey.

Apply for a loan at your financial institution

Ask your bank or credit union for a lower interest loan to pay off higher interest debt.

Investigate community credit unions

Look into joining a credit union, where members can often get access to small loan programs.

Use part of your tax refund to pay off debts

Put your tax refund to work to get rid of debt, especially loans with high rates.