livingdebtfree

Around town there are so many of these Pay Day Loan and “Get Your Paycheck Early” Advanced check businesses. But is it really a pay day?  I remember when I worked for a company and their customers would call in needing to make a payment. I would hear over and over about them having these Payday loans services that would basically taking out extravagant funds out of their checking accounts. They would take all of their money and prevented them from paying others bills which in turn made them late on their bills.  I watched a story on the ABC Evening News about a woman who had about 4 of these pay day loans out costing her over $3000-$5000 which I believe are several paychecks for her.  I remember at one time I had thought about trying those pay day loans however the high fees and interest rates turned it into an option that I could not do and I am glad that I did not do it. It would have been even more disastrous.  So this woman now is struggling severely with paying her bills and along with these huge pay day advance loans too.

So all in all I would say that if you really need to do these type of payday loan advances then really do consider the pros and cons of doing this option. Make sure that you only do it once and when it is time to pay for the loan, pay it off right away as time goes on the interest will continue to build.  I would say that is like a horrible credit card.  So find ways to bring in a little extra income or build an emergency fund account.

When I look at myself and why I have continued to be in debt on a regular basis I had to take a look at my past to find out what happened to me.  I remembered that when I received my allowance I would save it regularly and I remember taking it to school and it got stolen.  I had planned on buying my mother something special for Mother’s Day.  I should have left the money with her but I was afraid she would spend it hehe.  I laugh about it now as she never would not do that sort of thing.  I remember spending time with childhood friends, who would get money from their grandparents, and their parents spent it on clothes for the child and groceries. So when it came time for my classmate to want to use the money to spend on something that they desired they would ask for it, and their parents would say? Oh I will pay you back this weekend, I had to use your money to buy food for the family.  So I see where I got that in my mind. From after that incident I have been spending money and not saving it as I feared it would be stolen.  Although money can be stolen, it is a loss too when you can’t find your wallet, or left your purse somewhere and you come back and it gone.  It feels as if you are being invaded personally and financially.

Have you ever had anything of your stolen?  How did you feel?
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I have learned that I will need to consolidate any other loans together so that I will be able to pay them in one easy payment. Create a financial plan that lists out the expenses that you have in its entirety so that you will be able to see how much those are such as groceries, gasoline, etc.   If I find that I have some extra money then I will use that money to pay off my student loans.  Extra cash is always a great thing but keep in mind to use it wisely. 

One my biggest concerns about finishing school is the high rate of student loans that I have accumulated over time and I do have a complete of how much it will all be when I finish school in the next few months. however I do have a estimate of how much it will be and I wonder to myself in my condition how I am ever going to be able to pay for this?  I would love to be able to just go, and obtain a full-time job however due to health challenges that is definitely not a possibility.

I am indeed a college student and I am always searching for ways that I can save money during my last few months of school. The courses are expensive as it is and add in the books too.

Here are some ways to save money while in school:

1. Get a free or inexpensive checking and savings account. Get an account that will be able to do what it is suppose to do which is hold your money in it. Bank enjoy adding fees and options to account so do be sure to avoid the fees. Also keep enough money in the account to avoid any overdraft and insufficient fees.

1. If you need a credit card, only get one credit card total, as multiple credits means multiple interest rates. Obtain a credit card that has a low interest rate.

2. Pay off the credit card balance each month. This will save you money in interest rate fees.

3. Have a love for coffee? Instead of buying coffee as this can add up to over $20.00 a week, and by the time that you add that all up together that is over $80.00 a month! I am sure that you could use that money for something else. Instead buy a coffee maker or an espresso maker to make your daily caffeine fix.

4. Subscribe to a subscription DVD rental service such as Netflix or Blockbuster for your entertainment needs.

Definition from the Merriam-Webster Dictionary

Frugality: Economical, thrifty.

This word has often taken on another word which is called cheap. Is there a difference? As I try to find more ways to save money and conserve energy to help with my utility bills I am finding that I am really fighting even harder to pinch that dollar, and think hard about what I am purchasing. Is this a need or want? I must admit that I feel guilty at times, when I desire to buy a DVD, CD, or MP3s but then it is more of a want than a need. So I put it back as I desire to really buy it for my enjoyment as I would watch this movie more than one time. Once in awhile I will go to restaurant and order simply some juice, and then when it comes to the tip and well the attentive waitress will not receive much if I leave exact tip. I do desire to leave an extra dollar or two, but would I be considered cheap if I left a small tip?

So I feel that while I am pinching my dollars and I am happy to have saved money along the way, I really would like to have my happiness and buy what I desire for myself from time to time. I do not see anything wrong with buying an occasional DVD once a month or better yet once every two months as long as I do not get into the regular buying frenzy that I used to do. What do think? Do you ever feel guilty about buying something that you enjoy but trying to save as much money as possible? I look forward to hearing your stories.