Payday Loans and Financial Blueprints Do Go Together – Find Out More

We talk a lot about a financial blueprint around here, but what does that really mean? What does it really mean to have a plan in place that you can follow? That’s pretty straightforward, really — a financial blueprint is just a really good plan that you can stick to. It’s dynamic, as it needs to stretch with all of your life changes. If you want to get married, you should have it somewhere in your financial blueprint to make it happen.

Yet there are things that you just can’t foresee in your blueprint. You can’t foresee getting a flat tire, or having to deal with unexpected car repairs. Sure, you should have an emergency fund but how many of us have the ability to do that? When every bit of money that you make matters, you have to make sure that you focus on the bigger picture. You have to make sure that you can cover the little things, and that can take away from building an emergency fund very quickly.

Thankfully, you do have some options. You can turn to a payday loan and get the money you need short term. This doesn’t mean that your blueprint failed — merely that life happened to you. It’s something that everyone has to face sooner or later. At least you will have a burst of cash that can help you get over a challenge. When your paycheck comes, you can just pay it off and keep going with your life.

The trouble that gets to people most is when they end up not paying the loan off in time. That’s going to end up costing you serious money in terms of interest and late fees. You can roll the loan over into a new one, but that only keeps your obligation going and going. Break out of the cycle by committing to only borrowing what you can pay back, no matter how much they allow you to request. That’s going to keep you far more honest than if you were to just splurge without thinking about it.

Does that mean that payday loans are bad? No — it just means that they are a tool that has to be handled carefully. Payday loans and financial blueprints do indeed go together; it’s just a matter of balancing. The cost of inaction is always more expensive than any action you decide to take, so don’t forget that. You’ll be fine, we promise!