There is a widespread misconception that the need for a payday loan arises out of poor financial planning. The fact remains that the best and the most meticulous of your plans can be undone when faced with tough times. As Mike Tyson once said, “Everybody has a plan, until they get punched in the face.” Of course, this is not to say that you do not need well thought out and long term financial planning. The underlying point here is that payday loans will take the punches for you when all your plans fail.

How to plan your finances

Building and managing your personal finances requires a dedicated effort towards planning. Following are some ways in which you could effectively manage your finances in daily life:

• Look out for the best deals whenever you plan on buying something, be it car insurance, or an iPod. Spending a little extra time and energy on searching for better deals could save you a lot at the end of the day.
• Think twice before you buy anything on credit. Ask yourself if you really need this item now. Maybe putting off this purchase by a couple of months would save you some bucks.
• In case you really need that item urgently, just remember that credit card fees, account overdraft charges and penalties etc. are simply exorbitant and affect your credit score. A payday loan would be handy in such scenarios, knowing that it is cheaper and independent of your credit score.
• Plan a weekly or monthly budget that puts adequate emphasis on saving and then stick to it. Living for the moment doesn’t mean that you lose the long term perspective and start spending thoughtlessly. Even a payday loan does not give you the license to spend recklessly.
• Don’t put all your eggs in the same basket. Branch out your investments, both geographically and qualitatively. E.g. a nice branched out portfolio could include stocks cutting across various industries and domains, real estate, fixed term deposits, 401k savings, bonds etc.
• Do not procrastinate, you are never too young (or too old, for that matter) to start saving. One of the biggest reasons why we are facing the credit crunch is because decades of prosperity and growth have played havoc with our spending habits. We are spending more than we save and hence the result. This must change.

Role of Payday Loans

As I said at the beginning, well planned personal finances are not a sure shot guarantee against recession. In tough times when you need some cash quickly, a payday loan could be your savior. Online payday loans are easy and quick and do not typically require faxing. All you need to do is to fill an online form and your application could be approved in 20 minutes. The money could be yours in as quickly as 2 hours. These faxless payday loans make great sense for many reasons: Firstly they are quick, so you get the money when you need it and not a day after. Secondly, they are cheaper than other options like credit cards and account overdraft. Finally, if you plan a payday loan well, i.e. take only the amount that you need and spend it on things that you need urgently, then you can be sure that your next paycheck will take care of this loan.

So to conclude, proper financial planning and payday loans are together your best chance to come unscathed out of the recession.

Buying groceries in bulk and shopping only once a month can pay big dividends.

When it comes to your personal finances, identifying where you can cut costs on your monthly bills can save you a lot of extra money as well as keep you from having to borrow a payday loans at the end of the month for the lack thereof.

Besides your home mortgage, there are few monthly expenses that will exceed that of the average family’s grocery bill. Their are a few strategies you can implement here to help you save the extra money which we know you can find a use for elsewhere.

Shopping For Savings

Shopping for savings is easy but requires a little effort and time for preparation but will pay big dividends for those who chose to do so. Here is a quick list of tips to get you started saving money on your grocery bill today.

Buying In Bulk

Buying in bulk is a common strategy used for saving extra cash in just about every category of consumer goods. Rarely however, do we implement the same strategy with our grocery bill. Most families pay a visit to the grocery store at least twice a week finding it easier to just shop for a few days at a time.

By sitting down and planning out meals a month in advance, you can go to your local wholesale depot and buy everything you need for the entire month with the exception of milk, on one grocery bill.

Planning ahead allows you to purchase larger containers and quantities of product which provides you savings benefits when shopping at many wholesale grocery suppliers.

When buying in bulk and shopping once a month, you also have the added benefit of saving the extra money on the gas and time it takes to go back and forth to and from the store each week.

When Buying in bulk make sure you have adequate cold storage space.

Finding Extra Food Storage

Buying in bulk may have it’s difficulties when it comes to food storage but believe it or not, you will find it much easier, more cost effective and well worth your while to clear out and designate an extra closet for pantry space if you have to.

Much depends on how you plan your meals for the month. You will want to be conscientious when it comes to refrigerated goods as you may be limited on cold storage place for vegetables, fruits, cheese and eggs unless you have an extra fridge in your basement or garage.

Freezer space may also be a factor so investing in a chest freezer may be well worth your while in the long run and will allow you to take advantage of periodic sales on meat and other freezer goods as they arise.

Comparison Shopping With Weekly Circulars

Like payday loans lenders, it pays to shop around for different providers.  Of all the wholesale food suppliers in your area, Costco is usually the most popular but often times you may find better deals elsewhere so be sure to do a little comparison shopping before settling on you place of choice. It may pay to shop at two or three places depending on the deals that you may find in your weekly circulars or sales adds that are delivered to your door on a weekly basis. If don’t get them delivered to your door they will be freely available at your local grocery store. Invest the time to compare prices between the different retail chains and take advantage of the deals that you find before you set out shopping on the big day.

Planning Ahead Saves On Impulse Buying

By planning ahead and creating a list you also save extra cash by avoiding impulse buying. Often time we go to the store hungry or without an idea of what we really need which usually results in buying things we don’t need as well as forgetting the things that we do. Shopping without a plan or without a list results in wasteful spending and extra trips to the store.

The tips above will help get you well on your way to saving money, saving time, and even eating a healthier and more balanced diet depending on the time that you invest into the process.

Stay tuned to the payday loans money blog for part II of Grocery Shopping For Big Savings.

(image from flickr)

Thank you for visiting the payday loans blog at personalmoneystore.com. With the new year just around the corner, it’s time to start thinking of  your 2009 resolutions. There are no better resolutions to be made this coming year than those regarding personal finances.

Consumers across the nation are in a constant struggle to stay on top of their finances. Layoffs and pay cuts are reaching record highs and the credit is crunch causing creditors to increase minimum payments and interest rates. Learning methods that can save you money and exercising those options faithfully may just save your skin in 2009, and getting payday loans if you need to can help make it happen.

Here are a few things to consider for the new year.

Take Inventory of Your Debts

Take the time to sit and put all your outstanding debts on paper so  you can see where you stand financially. Most people who fall into uncontrollable debt have a hard time figuring out how they got there. This is because we never see the big picture when it comes to what we owe. We are used to seeing bite-sized portions of what we owe each time until a bill comes . One day we wake up to find that there is not enough money in the bank to cover our minimum payments.

Record and Visualize Your Debt

Write down each creditor, how much you owe and the minimum payment and interest rate for each creditor you owe.

Next, make yourself a visual chart or bar graph of what you owe total. This is never a pretty thing to look at, but putting it on your fridge or bathroom mirror where it is consistently before your eyes will do some wonderful things for you.

First, it will remind you of your debt on a day-to-day basis so you can be consistent in your endeavor to pay it off.

Secondly, as you pay off your debt you can incrementally mark your chart accordingly. Seeing your progress over time will encourage you to stay in the fight to become debt free.

With this new awareness, you will be amazed at how much extra money you will be able to find each month to apply toward your debt. It’s like payday loans that you don’t have to pay back.

Practice Responsible Spending

(image from flickr)

This coming year you will also want to increase your awareness of the amount of money you spend and the things you spend your money on. A lot of the purchases we make each month are unnecessary or could be planned better to save you money.

When you go to the store it’s better to have an organized list of the things you need. All to often we go to the store hungry and without a list, which encourages us to spend money on “eye candy” or whatever looks good at the moment. What you end up bringing home is usually a lot of expensive junk or snack food.

An organized grocery list will help hold you only buy the things you need and therefore saving you money that you can put toward your debt each month.

Cutting Costs And Making It Count

Besides cutting down your grocery bill, you can also save money in other areas. We all pay more than we have to each month on luxuries we choose.

These luxuries include things like your current television programming package, cell phone package or internet package. If you are serious about paying down and paying off your debt, you may want to consider down-grading your entertainment and communications options by choosing cheaper alternatives.

Making A Better Tomorrow Starting Today

Eliminating debt requires a personal decision and commitment to change that only you can make. Get started today — you won’t regret it!

Stay tuned to the payday loans money blog tomorrow for more helpful tips on paying off your debt in 2009.

Once again, bank ATM and overdraft fees are on the rise. This comes after a survey released last week by Bankrate.com based on information from 249 banks in the nations 25 largest metropolitan areas. The good news however, is that avoiding such fees is easy. “With 24-7 online access to your accounts, there’s really no excuse for losing track of your balance anymore,” said Greg McBride, senior financial analyst with Bankrate. So, the ancient proverb rings true “to whom much is given much is required”.

The survey quotes the average fee for using another banks ATM is now $3.43, up 13 percent from last year. A bounced check costs an average of $28.95, up 2.5 percent from a year ago – more than the fee from the average payday loans lenders.

Why the Higher Fees?

Is your bank nickel and diming you?

The higher fees can be a result of many things. With the recent trouble in our economy many banks may simply be trying to make up lost capital. Others may be rising their fees to hold consumers accountable to their personal finances. With a stressed economy and rising unemployment rates many people are simply falling short financially.

With all the competition between banks to win market share, many have reduced or eliminated many of the set up costs for opening a new account. The number of banks offering free checking has doubled in the past few years. Now we know where the difference is being made up.

Consumer Concerns and Protecting Yourself

Among consumers the most outrage seem to be over overdraft fees. With many banks adopting a tiered structure where each successive overdraft costs more than the previous, which has never been how payday loans work. The cascading effect of making a small discrepancy balancing your checkbook can prove to be more than costly.

The best thing that consumers can do to avoid penalty is to stay on top of their finances. Balancing your checkbook more carefully and more often will help you to catch oversights that you might otherwise miss.

The largest percentage of overdraft fees seems to be from unrecorded debits. If you use a debit card for all your transactions it is imperative that you request and record your receipts. A safer way is to use a credit card for your monthly transactions and than write a check for the full balance at the end of the month. This way you curb the risk of over drafting your account using your debit card as well as providing yourself a monthly ledger of your purchases for quick review.

As a Last Resort

If you find yourself in a position where you have over drafted your account and you still have checks that have yet to hit your bank, you may consider applying for payday loans.  Payday loans would be far less costly than multiple overdrafts. Individuals can apply and be approved for payday loans online. The process is quick and easy and best of all, funds are electronically deposited into your bank account automatically so your funds will be their before your next check hits the bank.

DAVE LIEBER Amanda Godawski and Cecilia Harsch both battled banks over unfair overdraft fees. Beating the odds, both won and got part of their money back. Godawski turned to a congressman for help. Harsch got relief from a federal agency that oversees banks. Take note. Both stories show how to fight banks when they ignore your complaints about overdraft fees. This problem is not going away …

Your Online Payday Loans News Source Quoted With Edits From: The Watchdog: Getting refunds — and satisfaction — on overdraft fees run amok (Fort Worth Star-Telegram)

Overdraft fees, a runaway snowball

Overdraft fees are just one of the many rising fees, banks are accused of using to there advantage when customers overdraft their accounts. Small, insignificant amount’s that are left unrecorded can quickly become gigantic if not caught early in the process.

Some times however, customers find themselves seeking a cooperative representative at the bank hoping that they will jump at the opportunity to forgive a minor mistake, for the opportunity to establish customer loyalty. This assumption is not proving to be very proactive and more people are turning to online payday loans to cover those overdraft fees.

It’s you against the bank, can you win?

You against the bank. Can you win, or will you need online payday loans?

The article which you can visit from the link above, gives two customer testimonies, both of whom, drew their swords to defend themselves from the tyranny of the banks uncooperative actions towards them.

Both honest mistakes, the banks showed no mercy in pursuit of collecting these fees which they had charged the customer.

The first customer accrued fees after funds which she had transferred into her account using her home computer failed to go through. This innocent mistake which you think would be much deserving of the banks cooperative attention cost her $579 in overdraft fees and a $7 dollars per day in charges.

The second customer used an ATM that belonged to another bank other than her own, and was hit with some unexpected charges which through the balance in her account off, racking up over a thousand dollars in overdraft fees.

It does seem somewhat apparent that the banks, like most other business’s these days, try to get the extra buck wherever they can by devising a system of any possible means to do so.

For those of us who have been victims of such a system, you can glory in the success of these two individuals who got not all, but a portion of their money back.

To regulate, or not to regulate? That is the question.

This leaves us and important question to ponder. Do we need to be more responsible as to avoid these unsuspecting circumstances or should we cry out for government regulation on the banks to help us? As much as you or I disapprove of the banks practices, additional government regulation any closer to our personal finances is worrisome.