Servicing Loans On Time
April 6, 2011 – 10:51 amAfter reading my previous post on being offered a yet another credit card, a friend chided me for being quite dumb to have rejected it. Well, that’s her opinion. This friend used to hold multiple credit cards before the imposition of government service tax last year so I’m not surprised that she thinks I’ve missed out on a good credit card deal. Well, I already have a credit card and honestly one is more than enough.
I prefer to use cash because feel that I can better manage my finances and control my expenditure this way. Others may feel the same with credit cards. No doubt, credit cards offer peace of mind and a safety net knowing that cash is easily accessible when we need it but I personally prefer taking out a payday loan.
I know, this isn’t the best solution but we never know if and when we are faced with an emergency that requires a lump sum of cash and we don’t have it in our bank account. I can remember the sinking feeling well. That’s why now, I have handy a good company that offers payday loans with fast approval that I could apply online. Some companies make applicants go through a lot of red tape that takes up too much time. That just defeats the purpose of getting cash on hand quickly and without hassle.
A lot of people have the misconception that we are in dire financial straits because we do not manage our money well. However, falling behind on finances could happen to any of us at any time, for example, medical emergency, robbery, or car repair.
Having said this, I know of a couple of people who got into financial trouble because of this fast cash solution. Well, the art of benefiting from this is to repay our loan on time as soon as our pay check arrives. That’s why this is called a “payday” loan. These friends are poor financial managers in the first place and they had neglected to service their loan, hence the interest just snowballed. Bear in mind that like any other loan, as long as we settle our dues on the stipulated day, we would be fine. This applies to credit card bills too.
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