Friday, December 23, 2016

An Online Personal Loan Can Help You Make Ends Meet

An Online Personal Loan Can Help You Make Ends Meet


Have you ever noticed that your bill dates and paydays never quite match up the way you’d like them to? If you’re like most of us, paying for everything that’s due before your next paycheck leaves you with no money left to live on – or even worse, maybe there are more bills than there is money and something is going to have to wait until you get paid again. That’s the very purpose for which the online personal loan was invented – to enable folks just like you to get through those crunch times without having to make late payment or borrow from family or friends simply to keep yourself in groceries. These fast short-term personal loans make it easy for you to get the cash you need now to keep your life running smoothly, and simply pay it back out of your next paycheck.

Save Money with Online Personal Loans


When you find yourself short on ready cash until payday, there are a few different approaches you can take. One is simply to try not to spend any money – “live within your means,” as they say. That’s harder than it looks, because life costs money. Even if your bills are all paid up your car needs gas, your family needs groceries, packages need mailing – there’s always something. If you overspend what’s in your bank account you’ll get hit with some steep fees – overdraft fees currently average over $30 per transaction! If you accidentally go over and happen to make a few purchases before you discover the mistake, this can cost literally hundreds of dollars – far more than the interest on an online personal loan! On the other hand if you decide to hold back some bills and pay them late to make sure you keep the cash you need in your bank account until your next pay day, those fees have a habit of adding up too. Once you’ve paid late once, your personal budget shifts everything by one pay period, and chances are unfortunately good that you could end up paying one or more bills late everything month, adding up to more and more fees.

Online Personal Loans – More Affordable Than Credit Cards


There’s a reason credit cards are so popular, and that is they are painless! They’re easy to use, and don’t feel like real money, and the minimum payments are so small and comfortable that users can be fooled into thinking they’re much more affordable than they are. Here’s how that works: First, most of us only look at the percentage we’re paying each month and forget that there might be an annual fee. So they can charge us a lower interest rate to “hook” us, then add an annual fee to make up the difference! If you owe $500 on a credit card with 18% interest rate, a $50 annual fee is like paying that same $500 with a 25% interest rate! And many cards have annual fees higher than that. The other trick they play is keeping the minimum payment low – as long as we can just pay that easy $25 a month, we let the balance ride for literally years, paying more and more interest, and ultimately paying interest on the interest! Compare that to online personal loans, which require a little more discipline in the short term, but provide a clear view of the end date and exactly how much you will pay. No smoke and mirrors, and no ongoing debt! Take that $25 per month and go to the movies or buy a pizza instead of giving it to the credit card companies!