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Cash Loans Budget-Friendly Resources and Tools

Let me tell you a secret. Cash loans are never easy to obtain. That is, if one has to do it wisely.

What do I mean by “wisely?”

Well, a lot of people have this perception that getting cash without really putting any sort of work into it is awesome and magical. They almost always think about the catch — that they’d have to pay for it, it’s an obligation.

I have witnessed this time and time again. Waddle a few thousand bills in front of anybody for credit and most will take it even if they don’t need it.

The fact of the matter is, if one has to deal with cash loans wisely, one has to do some comparisons and detailed thinking. One has to approach it with a planning and strategy. That sounds like work, and it’s okay.

There. A lot of people don’t know that, and that’s what keeps credit companies in business.

Below are free resources, tools and tips to help you plan and maintain a payment strategy before, during, and after the big leap.

Comparing Loan Terms

Making comparisons are crucial before you apply for a cash loan. Compare loan in terms of:

- Years Payable

- APR

- Balloon Payments (Yes or No)

- Total Amount Owed (applying interest)

- Monthly Payment

Do not compare cash loans in terms of who, how much, and when. Chances are, you’ll be keeping your nose above water just to pay off the loan.

What you need to do is make a list of options (banks or credit companies), plug them into an excel sheet and make columns for each item in the list above.

Tip: Consider your income and budget. Borrow only what you need. Decide on the specific amount through sensible computations. After all, nobody’s going to pay the loan but you.

Paying Off Your Cash Loan

The best way to manage your loan payments is through budgeting. Yes, good old budgeting that many of us find too tedious to do. But if you’re paying off a debt, you don’t have any choice.

Make a monthly budget planner for income allocations and track them. I recommend you install a budget tracker app on your phone or tablet so you can monitor your financial life on the go.

An app called My Money Tracker has a debt manager feature. If you prefer to work in Excel, Money Manager in Excel is very handy. Other awesome apps include MoneyWise, Better than Budgeting, EasyMoney, and many others in the App Store for iOS or Play Store for Android.

Their free versions have enough features to keep your finances in check.

Staying Debt Free

There is such a thing as good and bad debts. Credits and loans are obligations so one has to only acquire it for a necessary purpose.

Keep your life free from unnecessary debt to ensure restful nights. Good personal finance habits help you stay in track. Monitoring your daily, weekly, and monthly budget will remind you of your current financial situation and spot problems before they turn into full blown, uncontrollable disasters.

Bad Credit Cash Loans – Dealing With Bad Credit and Getting Quick Loans

Some companies are able to offer loans for those who are not boasting good credit. In the normal cases, banks do not approve loans for those who have bad credit lines and they prefer to give approval for those who have good line of credit because they think that they are better to pay their payments without delay. When the creditors and banks calculate risks for lending people, bad credit cash loans are among the highest risk groups when it comes to paying back the loans.

Bad credit cash loans are very important for people because they solve immense problems. In some cases, you have a bad credit line and you need to get cash immediately and you are willing to do anything in order to get cash and solve that problem immediately. Banks would not help you in getting a quick loan at that time so you need to look for a bad credit cash loans company in order to give you the loan you want easily and quickly.

The only drawback that you should take care of is the huge amount of interest incurred over these loans. Normally you pay anywhere between 20%-30% on the first month, which is the typical period of quick loan.

If you need to make the best of the bad credit cash loans then you need to pay them back on time. Companies always offer the option of rolling the loan over to another month or even more time. If you do this, it will incur more fees and charges, which you will need to pay. That will increase the total amount that you pay at the end.

Leaving your loan for a longer period will put you in a bigger problem than the one that you wanted to solve with the loan. When you get the loan make sure that you get the least amount that solves your problems. This is the best thing that you should do in order to get the best out of these loans.

While there are several forms of these loans but the core is the same. You can find the payday loan; the cash advance loan, the car title loan and other similar quick loans. When you get one of these loans, you do not go through credit checks with this type of loans so, even if you have bad credit or no credit, you can get one of these loans easily.

The risk of the non paying customer for bad credit cash loans is always high and that caused the companies to incur very high interest rates to cope with these risks. People accept these high interest rates because they do not have other solutions for such case of emergency.

The best thing you can do to avoid the bad credit cash loans is to plan ahead for your cash needs so you can figure out better solutions. For example, you can build up a line of emergency account and save a little by little in it or you can apply for a better loan while providing good collateral for the bank.

Should You Really Offer A Cash Loan To A Friend

Popular words to live by these days seem to be that you should never mix business with pleasure. Going along with this is the thought that you shouldn’t lend money to friends. People seem to think that having a cash loan hanging over the heads of a friendship can only hurt things in the long run. But in all fairness this really has to depend on the person or persons involved; also the amount of the cash loan.

It’s said that the most common time for friends to borrow money from each other these days is at the card table. With more and more people having weekly poker games there’s already a ton of cash going back and forwards between them. It’s now quite normal to have one person want to loan cash from another after they’ve lost their initial stake. This is hardly a big deal for most poker tables. This kind of borrowing goes back and forwards all the time. Of course its not that big of a deal unless the cash loan is something your friend either can’t afford or shouldn’t afford. Have they gambled a bit too much money for their own good?

The horror stories come when a friend has blown rent money or needs to buy something urgently and has run out of funds. Social standards tell them its okay to go to their friend for help but that puts the other friend in a difficult place. It’s hard to tell a friend you can’t loan cash to them but can you trust them to give it back? Or are you in the same financial situation as they are to begin with and giving away a little money will cost a weekend of fun? This scenario rarely breaks out in fights, but instead awkwardness and simply difficulty being around each other. And why not? It’s always said that you can’t judge a friend until you really need one; no one ever said anything about certain times being unfair to need them!

Worse than not wanting to give the cash loan to begin with is wanting the loan repaid and never getting it. The true mean feelings rise when a friend doesn’t pay back money but still goes out and buys themselves new things. A popular TV character recently had fun with this whole idea by having a friend loan cash to him for increasingly larger amounts. He didn’t need the money, but found it fun to see how much he could get and how long it would take for the friend to demand it back.

So maybe it would be better for friends in general to give up on loaning each other money. Instead helping them get money other ways is a better strategy. Maybe they qualify for help from a bank and they just don’t realize it. Suggesting alternatives like credit unions or cash advances [http://www.springfieldsocialist.com/category/finance-guides] is also a good bet. When these places just aren’t going to work out then a good alternative to hitting a friend up for money is a payday loan counter. The money will cost them a bit more in the long run but its sure better then having letting the money get between you and a friend.