Payday Loan Rates Rise As The Economy Struggles Through Slow Growth
Payday loan lenders know that consumers are struggling just to get my every week. The Wall Street Journal reports that about 70% of Americans live paycheck to paycheck. So when an emergency strikes, these people run to their online payday lenders for help. Securing a payday loan online is fine if the emergency is real. However, the better solution is to save up for emergencies. Nobody wants to add another low cost payday loan to his mounting debts. But when your budget is so tight that you can hardly breathe, the only way to scrape money is to cut back on expenses. There are many money saving tips that really work. The first place to start is your home.
When cleaning the house, we automatically pick up the paper towel to wipe away spilled liquid and food. A pack of 6 paper towels retails between $6 to $21, depending on the brand. If you use paper towels to clean up, then you can just imagine the number of towels you run through during the year. This money would be better spent paying off your online payday loan lenders. Instead of paper towels, use old rags like your mother did. They costs so little and can be recycled. You can buy the microfiber cloth which are highly absorbent at your local groceries. You can even use this to clean your electronics. If you really want to save, use your old clothes that you no longer want to use. Those old cotton shirts are super absorbent. Just throw them in the washer when they become soiled.
What does a payday loan have to do with cleanliness?
Making your own cleaning products is another way to save money. You can re-purpose your other kitchen essentials to make natural cleaning products. You save money and you are kind to the environment. Not to mention that commercial cleaning products are usually so strong that it can poison you or your pets if handled incorrectly. Vinegar and baking soda are great at unclogging, while vinegar alone is a great cleanser.
You can also save money by doing less laundry. Washing your clothes less often will give you great savings on your utility bill and it will extend the life of your clothes. Jeans and sweaters do not have to washed after every use, as long as they are still clean and not smelly. Minimize the use of dryers; use a drying rack instead. Dryers use a lot of energy and can sometimes shrink your clothes. You can use the dryer for small items like lingerie or socks.
The kitchen is the place where you can really make a dent in your budget. Brown bagging your lunch instead of eating out at work will bring significant savings that you can use to pay off your payday loans online. Cook your meals at home and avoid takeouts. A slow cooker is a frugal person’s best friend. You can prepare the ingredients during weekends and freeze them. Before you leave in the morning, throw the ingredients in the slow cooker so that when you come home, you have dinner waiting for you.
If you put your mind to it, there are many ways to cut expenses so that you can finally pay off all your payday loans online. It does not pay to rely on low cost payday loans to get you through emergencies. Making small sacrifices everyday will add up until you have enough to part ways with your online payday lenders.