Tuesday 9 November 2010

Payday Loans

Everywhere I go I hear about people struggling with money. It seems in this day and age if you want something and you want it now then you borrow money. To me this is madness. Why borrow money and pay interest when all you have to do is save the money yourself. Yes you may have to WAIT a little while but at least you don't have to pay interest on it.

I would much rather  have my money in my bank giving me interest than borrowing and having to pay it!  But this is me, I am very lucky that I have old fashioned views and have never liked this buy now pay later culture.  I don't buy items I can't afford, I wait and save.  I do have a mortgage which kills me when I look at the interest I am paying, but without it I couldn't choose where I live and obviously having a property is an investment.

For those that are not so great at saving money but have got in a situation where they need cash fast, there are Payday loans available.  These are everywhere at the moment, you can find them online, in newspapers or on the TV adverts.  They are perfect for a short cash injection which you payback in a couple of weeks on payday.   Interest rates vary so do look around.  And remember the most important thing about borrowing money is ensuring you pay it back when you say you will.

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