How much has your bank earned off of you in the past year through overdraft fees? Too much? Don’t get me wrong, it’s a good service to have when you need it, but it’s too expensive to use habitually as if other more economical options don’t exist. The “overdraft spiral” occurs when you make a small miscalculation that overextends your account, even by a few cents – incurring a charge for every charge that bounces, digging a deeper and deeper hole into your bank balance. Consider an alternative – low cost loans. Rather than paying a fee of $30 or more in exchange for “borrowing” even the smallest amount for even just a few days, borrow a couple of hundred at a low interest rate to ensure that your account stays on the positive side, and pay far less in interest than you would in overdraft fees. You have choices, and one of those is to protect yourself and your budget from accidental disruption.
Low Cost Loans Are On Deck When You Need A Pinch Hitter
Most of the time, life strums along in a fairly routine manner. The rent is due on the first of the month, the car payment a couple of weeks later. Groceries cost about the same each week, and utility bills fluctuate with the seasons. We know how much we have to spare for movies, clothes, or other nonessentials – and then something unexpected happens. The car sputters to a stop and leaves you stranded by the side of the road, the a/c breaks down in the middle of August, or the prescriptions the Urgent Care doctor prescribes turn out to cost as much as a month’s gasoline. Low cost loans can take the pressure off your unplanned financial crunch, giving you the extra cash you need to cover your emergency and time enough to repay it out of your next few paychecks.
Save Money With Low Cost Loans
Credit cards have become so ubiquitous we tend to forget how dangerous and expensive they are. Sure, it’s easy to just pull that card out of your wallet and pay for the car repair or the medication – or a vacation, or some new clothes or a nice dinner. It’s just too easy – and easy to forget that those long revolving credit terms are costing money every month. The fees and interest you’ll pay on a low cost loan seem higher when you look at them one month or one payment at a time, but over the years those credit card interest charges add up and up, until you realize that it would have been a lot more economical to have paid the higher rate for one month instead of a lower one for many months or even years. Living on a cash basis is ideal, but for most of us it’s not practical all the time. When it’s absolutely necessary to borrow money, make sure the choices you’re making are the ones that will serve you best in the long run, not those that are simply easy or trendy!