Extreme Payday Loan Prevention Ideas

Saving money is a little bit harder that we thought. You could always resolve to keep part of your money in the bank. But before your paycheck comes, you usually run out of money so you are forced to visit the payday loan company again. The bad thing about this is that you get to be caught in the cycle of payday loan debt because the interest rates are too high and your budget doesn’t seem to pay for all your monthly needs.

If you think this is happening to you, it’s time to go extreme – in savings that is. Here are some of the extreme money savings ideas that you could do to save money fast and get out of that payday loan cycle:

1. Switch everything off – don’t think that this is just plugging every electronic device once you’re done with them. But don’t just switch them off, get them off. While you’re at it, get all unnecessary services in your life. Your internet connection, your basic cable and even your mobile phone (or landline) should be cut off as soon as possible. If you think you’ll go insane without any internet connection, think again. There are so many things you could do even without the internet. Your cable connection is not necessary as well so you should be able to live without it.

2. Go for carpooling – this might not be extreme for some but it is for most people. Carpooling may be a simple concept but you are sacrificing your freedom to be in places. By carpooling, you are saving hundreds of dollars in gas and you don’t have to be driving too much. If you have friends at the office who often hang out after work, carpooling is easy for you but this will really sound difficult if you are just another familiar face in the office. Some will say that you have to be desperate to organize carpooling but you have to be if you want to prevent from going into bankruptcy and prevent payday loans.

3. Yard sale – say goodbye to your precious stuff that’s not necessary in your life. This is more difficult for single person compared when families go on yard sale. If you’re just a yuppie, you’ll find it hard to move out most things that are good in your life. But if you’re with a family, at least you still have each other for entertainment. But remember you have to save as much money as you can so that you could pay off all your bills in time why settling your debt.

4. 20% - that number should always be in your mind all the time. Every time you receive your pay, dedicate 20% of your earnings in paying off your debt. You might think 20% is just a small amount but consider this: 20% is already $200 of a $1,000. Which means everything in your house should adjust accordingly. Some will say that you have to settle things first in your home before your debt, but in times of crises, you have to be a little bit extreme to pay off your debt.

5. Exercise – ok, this is not an extreme idea but you will be saving money and get fit at the same time. Instead of being online all the time and watching TV, get out of the house and jog, walk or run. It’s a little bit hard at first but if you don’t have any internet connection for two months, you’ll be just fine and look great.

This is maybe a little bit hard for you but the good thing about it is that you just have to be in this situation for at least six months to be completely out of debt and free to do things again.