Downshift Your Way To Freedom From Payday Loan Lenders

Payday loan lenders want to keep you in a cycle of payday loans, which means you having to renew your payday loan when it is due instead of paying it off. This means the interest will add up quickly and keep you in debt.

When you’re stuck in this cycle, you need to look for ways to cut back on expenses so you can pay off the payday loan instead of renew it. One way to look for savings is to take what has become known as the Downshift Challenge.

The idea behind this challenge is that all grocery stores have about four levels of pricing for brands of products on their shelves. Instead of buying the same brand you always buy, try buying the next cheaper brand and see if you notice a different.

If you try this challenge for all of your purchases, you can save up to one-third off your grocery bill.

What many people don’t realize is that many food items are made much in the same way no matter what their prices are. The difference in cost is branding and advertising.

Not everyone will go for the cheapest price, believing that it will be of the least quality. Many will purchase the most expensive item because they believe it will be of the highest quality. However, many times that name brand peanut butter is made in the same factory as the generic peanut butter.

Switching to cheaper brands can help you avoid payday loan lenders

Take the challenge and try items that are less expensive. See if you can tell the difference. You may be surprised that you like the cheaper alternative just as much or even more than your usual brand.

If you have children, try to leave them unaware that you switched. This way you can get a blind “taste test,” and you can avoid them deciding they don’t like it before even trying it.

If you have allergies or special dietary needs, make sure to read labels. Most products will have the same or very similar ingredients, but you don’t want to get an unexpected surprise you didn’t want.

This challenge doesn’t have to be limited to grocery items. It can be done for toiletries, cleaning supplies, clothes and shoes.

It can even be done for things like electronics, furniture and cars. Not only can you save by going to a less expensive brand, but you can even buy slightly used instead of new for additional savings or, in the case of electronics, go to the generation of software or technology that came out just prior to the current ones being advertised as the latest thing.

Just try to keep an open mind when doing this challenge. You don’t want to convince yourself that a product is inferior just because of its price.

Even if you do notice a difference with the less expensive product, is it still a high enough quality product for you to stick with so you can enjoy the price savings? These are things you need to consider thoroughly so you can stay away from payday loan lenders in the future.