Pay Day Loans

The temptation to apply for small payday loans and "buy here pay here" loans during the holidays is great. If you're like many men and women who may not have considered getting temporary relief during tough financial crunches you find yourself considering it during the Christmas season. The pressure to live life as usual during this tough economy may find you signing your name at the lower half of a binding contract. More and more individuals are finding it hard to keep up with rent and mortgage payments, car notes, insurance and utility bills add the added pressure of buying gifts for children who don't understand that you just don't have or can't afford it this year or in-laws and friends you've been having believe you've been doing better than Jan thru Dec and you have a bad situation getting worse.

A simple click of a button prompts numerous popups offering a seductive solution to your temporary problem. Before you allow the itch in your empty wallet to scream to your senses take a minute to evaluate real need from want. Do your children really need another $300.00 gadget when their old one still works (perfectly I might add.) Does your little princess really have to have a new 4 feet Barbie castle complete with real sounds and flashing stove lights or can she make due with the numerous Barbie pet stores, hair salons, dream houses not to mention Barbie cars she has tumbling out of her Barbie toy chest. Although a sparkling diamond bracelet or impressive pair of earrings can make the heart grow fonder your wife will understand that the timeless phrase "It's the thought that counts" is your new motto for this season and I'm pretty sure a new Makita 10.8V Ion Combo kit drill would set his heart a blaze but the numbers in the bank don't quite match the numbers on the red ticket price tag. To help you determine if you need a payday loan take a look at your overall income level. A perfect way to do that is take two sheets of paper and write how much you make weekly, bi-weekly or monthly and calculate your monthy expenses including miscellaneous items and entertainment such as takeout and morning coffee runs and even your $7 to $10 lunches everyday. After reaching your total amount going out begin the difficult process of elimination removing truly unnecessary and costly habits and you will find you may have added 2 to 3 hundred dollars you didn't see before. In most cases that was the amount you wanted to borrow anyway.

Payday loans may relieve a current burden but were not created to give you a break. They are actually modern day legal loan sharks. They have come up with a way to get you to pay thousands of dollars in interest and create new dependencies. You borrow once and you most likely will need to do it again and again to climb out of the hole taking the original loan has placed you in. It keeps you in a state of constant need and alters the reality of your actual budget placing you in a mindset of "As long as I have a job I can pay it back." Still not ready to sacrifice your lifestyle consider this before applying borrowing $500.00 dollars from a payday source may cost you over $1,500.00 when it's all said in done. Assuming you won't have the $500.00 dollars to pay back immediately you will be stuck paying 4 pay periods of $150.00 in fees deducted conveniently from your checking account before any money goes toward the actual borrowed amount. That is the hefty sum of $600.00 add that to your borrowed $500.00 and you're already looking at $1,100.00 add that to the $60 to $70 fee deducted from every paycheck until it is down to a $0 balance and you've blown a cool $1000.00 in interest and miscellaneous fees all to see the smile of your no doubt precious loved ones and then you ask was it really worth it when you see it broken, cracked, or worse sitting in a barely opened jewelry box or seldomly used work bench in the garage.

Yes your family is no doubt worth every ounce of debt you could incur this holiday season but is your sanity? Will they stop loving you if they don't receive the new Wii or Playstation? will your wife fall out of love with you if she doesn't receive a small velvet box as an expression of your affection or will he completely withdraw his attention if he doesn't have a gps system that I'm sure he needs? Will the holiday's not be perfect with the expensive gifts that have smoothly replaced the true meaning of Christmas and family traditions of togetherness? Sure a payday loan could help aid you in seeing a loved ones face light up but it's really a hidden disaster disguised as a "SOLUTION"