Payday loans online: Give yourself an instant cash bonus

Applying for payday loans online for instant cash couldn’t be easier. It takes just a few minutes, and it frees up your time for that long-overdue financial tune-up. If it sounds like drudgery to you, keep in mind that in just a few hours, you can be looking at a three-figure difference in what you spent and what you save. Ron Lieber from the New York Times is doing us all a favor by creating a financial tune-up checklist that shows how many opportunities to save money go unnoticed.

Borrow today, save tomorrow

After you’ve taken action to avoid bank overdraft fees, late credit card payment fees or other damage to your precious credit score with payday loans online, seriously consider some of the financial tune-up steps suggested by Lieber.

Save 1 percent more from your paycheck

You’ll never miss money that hits your savings account before it reaches your checking account. It takes five minutes to make the changes with your employer, bank or credit union. Overtime, it could add up to thousands of dollars.

Find a better bank

Think about it: why is your money at your current bank? Is it because it’s in your neighborhood? In this electronic age, that doesn’t matter anymore. A couple of hours shopping around online for more interest and lower fees is like giving yourself a cash advance. End of discussion.

Increase your student loan payment

All the extra cash your financial tune-up discovers may allow you to make paying off any high-interest private student loans a priority. Take five minutes to tweak your automated payment, or simply write a bigger check next time the payment is due. But if you have low-interest federal student loans, keep making the minimum payment until you save money in other areas.

Find a lower-interest credit card

Take ten minutes to ask for a better interest rate on your current credit card or shop around for a few hours to find a better deal — but watch out for balance transfer fees.

Cut your budget

Focus on giving yourself a raise by spending less on the easy stuff that you can live without, like eating out, extra clothes or toys and gadgets. Check out mint.com, where you can find ways to cut up to 20 percent of your spending in a few hours.

Ask your cable company for a better deal

Take 30 minutes to research your cable company’s web site for deals — then get them on the phone. Ask why you can’t pay less to get the same service, or get more channels for what you pay now. If they don’t play, remind them that their competitors will probably give you a better deal for switching.

Ask your wireless company for a better deal

If your contract is up for renewal, take 30 minutes to scan your wireless company’s web site for offers or shop around elsewhere for better deals. Prices in the wireless world are always changing and often falling.

Spend your gift cards

Keeping your gift cards around is money wasted! Before you forget about them or forget where you put them, have a little fun. A stack of gift cards is like fast payday loans online with no payments and no terms. Take 20 to 30 minutes to shop online or get out of the house and buy yourself something nice.

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Banks don't want you to opt out of debit card overdraft coverage, because they make fat profits by charging customers debit card overdraft fees. Flickr photo.

If you’re like most people, you have a debit card. By now, you should have gotten a letter from the bank asking you if you would like to continue with the bank’s standard overdraft coverage. This letter is a result of new credit card rules that require banks to ask you if you would rather opt out of paying for an overdraft and just have your purchase declined. Consumer complaints about spiraling bank overdraft fees helped spur the change in regulations. If you haven’t made your decision yet, keep in mind that banks are selling the service for one reason: they make money doing it.

Debit card overdraft coverage is a scam

When debit cards came into vogue, Jeff Gelles at the Philadelphia Inquirer reports that banks saw big money to be made by confusing consumers about the difference between debit and credit cards. Debit cards draw on money in your checking account. When you use your debt card and there’s no money left, overdraft protection charges debit card overdraft fee to make the purchase. That’s where the “$40 cup of coffee” came into being. If you’re short of cash, it makes more sense to get a payday loan than to let your bank rip you off with debit card overdraft fees.

Biggest bank admits overdraft coverage is bogus

Gelles said you should decline your bank’s offer to extend overdraft protection. Even Bank of America thinks that’s good advice. In March Bank of America announced that it will do away with debit card overdraft coverage. The New York Times reports that the decision could cost the bank tens of millions a year in revenue from debit card overdraft fees and put pressure on other banks to do the same. Debit purchases account for roughly 60 percent of overdrafts at Bank of America, the nation’s largest issuer of debit cards.

Bank overdraft fees get out of hand

Debit card overdraft fees can easily get out of hand because the offending transactions go unnoticed. Gelles said the Starbucks barista doesn’t say, “You know this is an overdraft, don’t you?” so when you get dinged once, you may get dinged again and again until you realize what’s going on. There are no legal limits to how many times you can get penalized. Wachovia will charge you for up to four overdrafts, or $140, a day. Citizens Bank will charge up to seven at $37 apiece, or $259.

Avoiding bank overdraft fees

The new credit card rules about bank overdraft fees draw attention to the problem that too many consumers are poor managers of their checking accounts. In a press release, Michael S. Kappas, President and CEO, Apprisen, offers tips for avoiding overdraft fees or the embarrassment of having a purchase declined:

1. Remember your true account balance is in your check register, not on your ATM slip.

2. Keep track of all deposits, withdrawal slips and purchase receipts. Record them in your check register.

3. Know your checking account balance before you make a debit card purchase or ATM withdrawal.

4. Balance your account at least once a month.

5. Put “ghost” funds in your checking account. Deposit a few hundred dollars and don’t record it in your register. Don’t forget to account for the ghost funds when you balance your account.

6. Talk to your bank representative about your options for avoiding all potential overdraft situations.

I know several people who have gotten payday loans for all kinds of different reasons. I’ve had friends who used them to get their cars back from tow yards that charge hundreds of dollars a day if you leave them there. I’ve had relatives use payday loans to avoid overdrawing their bank accounts. You can even use personal loans to get bail bond financing if you ever ended up in the clink.

So what exactly is a payday loan? A payday loan is a low-rate personal loan that gets cash into your bank account immediately. You can find out instantly if you’re approved for a low-rate personal loan and have access to your cash in just a couple of hours.

How do payday loans work?

When you get a low-rate personal loan through Personal Money Market, you get your cash immediately with no charges up front and no collateral. You can choose to get a traditional payday loan, which you will pay back all at once when you get your next paycheck. At that time, you’ll pay back your lender’s fees as well. Did you know that the lender’s fees on small payday loans, say $100 to $200, are lower than bank overdraft charge fees? Furthermore, payday lenders only charge one-time fees, and banks usually charge $35 for every transaction made after the account is overdrawn.

You can also choose to get your low-rate personal loan in the form of an installment loan. If you need a larger amount of money, up to $1,500, you can pay back your loan with a few payments instead of all at once. Installment loans are great if an essential appliance breaks and other large financial emergencies.

Apply now for your low-rate personal loan

If you just need $100 to tide you over and help you avoid a $35 bank overdraft charge, you’ll save money with a low-rate personal loan. Or, if you need a larger amount of money, check into getting an installment loan. Either way, low-rate personal loans through Personal Money Market can help you save money, get things you need or maintain financial stability, so APPLY NOW!

If you need a Low-Rate Personal Loan, APPLY NOW!