I got a call from a friend the other day. He was needing some quick cash. I couldn’t believe the number of things that had happened to him in just one month! Not to bore you with the details, but he was flat broke and had too many days to go before his next paycheck deposited in his checking account. I had expenses of my own to meet and couldn’t help him financially, but I invited him over to give him some moral support. We talked for a while and I don’t remember which one of us came up with the idea, but we went online to check out cash advance lenders like US Fast Cash, United Cash Loans and One Click Cash. Together we sorted through several websites and finally settled on an online cash advance lender that worked out for him. He got his cash fast and was so relieved we thought we should pass on some of the things we learned so others could save time and maybe even some money in the process.
When you get on a cash advance lenders web site like Ameriloan, you might want to spend some time looking for a few things. Here were some things we found really helpful.
What to Look for in a Payday Loan Company
Look to see if the company belongs to any voluntary associations that have guidelines for conducting business in a fair and professional manner. We saw two icons that showed up on some websites. One was The Community Financial Services Association (The CFSA) which is a membership organization established to set standards, especially for the cash advance industry. Member companies pay dues and agree to the organization’s Best Practice Guidelines with responsibilities that include truthful advertising and a willingness to encourage customers to act responsibly.
Another important icon to look for is the Better Business Bureau Online Reliability Program. (BBBOnLine) The Better Business Bureau itself has been in existence for 100 years. The Online Responsibility Program is another part of the BBB. Before becoming a member, an online business must agree to adhere to a strict policy governing customer interaction and satisfaction. Both of these organizations offer more details on their own websites, which we found reassuring as well as informative.
Payday Loans Customer Service Programs
Once we chose a lender like 500 Fast Cash and began filling out the application, we had questions. That’s when we found out how important good customer service access is. The website we were on had a toll free number listed to call during normal business hours, but since by then it was late, that didn’t help us much. Then we spotted the “Live Chat” link and pressed that. We got answers to our questions quickly from a qualified agent in customer service. We found out how the process worked and put the repayment procedure in place, and submitted the application for approval. That agent also told us about their Customer Rewards Program, discounts and referral incentives my friend might qualify for.
This was my first contact with the online cash advance industry. I will keep it in mind if I ever find myself, like my friend, in need of quick cash.
One of the most common methods of planning for retirement is with the help of a financial adviser or financial planner. They help clients in creating and developing retirement plans and may be charged with a certain fee or on a case to case basis. For others who are uncertain about seeking professional assistance or help, they prefer to do the planning themselves. There are many retirement websites that have tools to help you plan your retirement accordingly. These web tools are referred to as online retirement calculators, decision support systems, or mathematical models. Online retirement planning can help create your financial plans with the necessary data needed such as your income and your retirement date or year.
Knowing how to save for retirement is another crucial factor. This means setting aside a certain amount of money from your income to your future investment. Other factors to include are your plans of action, such as where you will be staying for your retirement. Some individuals prefer to move to a city or town which is different from where they are currently residing, where the cost of living is less expensive. To others, a change of environment is good. Planning your kind of lifestyle is also important. One should think of whether to travel more, or to engage in a small business.
There are many retirement investment strategies that can guide and help you in planning for retirement. One of the most important things to know is to start early in saving for your retirement. Starting to save as much as you can at the earliest time will prove to be rewarding in the future. Because your money has more time to grow, the amount of profit that you will accumulate will certainly be noticeable. Also, it is very crucial that you set your goals based on your needs, and not with what you just want.
Determining how you want to live in your retirement will help you calculate the costs and how much you need to save to meet those needs. This is where investing your money in a 401(k) plan is essential or convert it into an IRA. With this, you will get tax deductions and your savings will surely grow. Most companies also contribute to the same amount as your retirement benefits. If one is capable, it is always helpful to work part-time in your retirement. Not only does it keep you socially engaged, but it also reduces the amount of money you will withdraw annually from your retirement fund.
Who borrows from a payday loan lender? Each year there about 12 million people who go looking for short-term loans to help out with monthly costs. Most often, these borrowers will not have their loan out for just a few short weeks as planned, but over a course of a few months. Borrowers who are using these loans for ordinary purposes are finding that they are not as cost-effective when stretched out over a period of time. The average payday user will take out about eight loans per year and spend an exuberant amount on interest while paying them back. Some experts call it a payday loan cycle trap when it sometimes is one more way for individuals to live beyond their means. It seems a bit harsh to view it this way, but irresponsible borrowers are not always great at budgeting.
Applying for a payday loan online or at a storefront without cutting back on budgeted expenses is not the best scenario for these loans. Individuals need to take the time to create a new budget when the old one does not work efficiently. If there are too many unexpected bills getting in the way each month, then there need to be some cutbacks. A credit counselor can teach someone how to set up and evaluate a budget. Categorizing your costs and prioritizing the lists will help keep targeted costs paid, and unnecessary expenses out.
It isn’t just about income. There are many characteristics of who uses a payday loan lender to help with costs. Would you believe that the largest groups of people who borrow loans are white women between the age of 25 – 44.
Lifestyle and money management do play a big role in how often these loans are used. A person who makes $20,000 can be just as poor at the end of a month as a person who makes $200,000 when living beyond their means is practiced each month.
There are more people who do apply at storefront locations than online. Online payday loan lender applications are increasing as the convenience factor for online banking catches on. Online lenders are catching on to no fax loans for some applicants who do their banking with participating financial institutions.
Credit counselors are being pushed as solutions to American financial matters. Some credit card companies will not work with individuals anymore, but refer you to a counseling agency. People need to be cautious of agencies that are run by the creditors. There are for-profit and non-profit agencies that can help, but you will want to make sure their counselors are trained and employed by an agency that is not affiliated with your creditor.
In order for any type of loan to be a success, the borrower will want to understand all terms and policies before signing the contract. Borrowers who apply for payday loans are looking for relief. This fast cash will provide relief for those who can pay the loan back in time. Short-term loans will provide more financial trouble for those who cannot afford the payoff in just a few short weeks.