5 Smart Financial Strategies to Avoid Being Payday Loans Dependent

One of the saddest things that can happen with life is that you know you have to do something about some things but you just don’t know where to start. Or, you know where to start but with so many ideas coming into mind, you just don’t realize which one is the best.  As a borrower and trying to be a respectable individual, you know very well that payday loans and other types of instant loans are not actually solutions but stop gap measures; these are just troubleshooting methods.  The real deal is that you should know financial strategies to help you get out from your financial miseries like being dependent with payday loans.  Consider the following ideas:

1. Set aside a savings fund and don’t touch it even with the threat of being disconnected with different utilities like lights and water. These are not panic situations. Remember that our forefathers were able to survive without the switches and the faucets just to enjoy lights and water.  It doesn’t mean, however, that you have to sacrifice in order to not touch your savings.
2. Thus, aside from savings, you have to set aside a certain percentage as contingency fund also.   If you are into project management, you know that contingency fund is as important as forecasting possible sales and expense entries into your financial statements.  This will help you become prepared for any eventualities when it comes to expenditures.  This is actually an emergency provision and this is the financial portion you can rely on without compromising your savings.
3. Revolutionize your situation financially. One of the reasons why people lack money is due to lifestyle.  They know what their payslips can achieve from one payroll to another, yet, people tend to ignore the warning signs and chose to spend more than what they earn.  It is revolutionizing in a sense that you need to overhaul your habits, systems, and beliefs when it comes to expenditures and earnings. 
4. Prioritize your expenses and spending.  You must remember that as days or years go on, our tastes and preferences changes but it can be adjusted.  For example, why patronize an expensive designer pizza flavor when a simple pepperoni pizza is already a delight for you? Just because an advertisement dictates to you that you must try it, then at the back of your mind you should do it. That’s not how it should be.
5. Only apply for this kind of loan if there is really a need for it. Just because pride dictates that you should not ask financial favors from your friends and families, you decide to take out an expensive payday loan. Nope, swallowing your pride might mean financial freedom. So, which do you prefer: being nervous that due date is just hours away yet you still don’t have the money to pay for it or asking from friends and swallowing your pride in exchange for receiving interest free loan?

There is nothing wrong if you want to seek financial assistance from payday loans for as long as you know ways on how not to become dependent with it. 

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