PPP's Tip of the Week

Smart Spending Tips - courtesy of Faxless payday loan

Some people find themselves desperate for a faxless payday loan because their spending is out of control. If your spending habits could use some work, check out these simple tips.

Use cash as exclusively as possible. Though it may seem counter intuitive, the best way to save cash is to pay in cash. Credit and debit cards can make you feel like you're not spending "real" money, which can quickly lead to overspending. Try to use cash exclusively wherever you can, and use a debit card when you can't (e.g., for online purchases). Using cash will help you set limits on your spending if you limit yourself to a certain amount per week. Make a goal to visit the ATM once per week, take out the cash you have allowed for the week's expenses, and stick to that limit.

Force yourself to keep track of expenses. If you find yourself in need of a faxless payday loan without knowing where all your money went, you might want to start keeping track of your spending. The act of simply writing down your expenses can make you more conscious of them, which will help you cut back. Also, tracking your expenses can help you identify areas where you could cut back. Focusing on these unnecessary expenses can reduce your need for a faxless payday loan.

If you don't save, start. Savings are the cheapest, most reliable alternative to a faxless payday loan. Having a small nest egg can help you weather ebbs and flows in your cash flow without having to borrow. Though experts recommend saving 10% of your income, you don't have to start with such a lofty goal. Try to save a small percentage of your paychecks, maybe 1-2%, to start out. As you get into the habit, you can increase that percentage to build your savings.

Evaluate your fixed expenses. For some people, discretionary spending might not be the real problem. If you find yourself chronically in need of a faxless payday loan and you are not overspending, then it's time to assess your fixed expenses. You could be overextended in housing, transportation, or debt expenses. For such expenses, a good rule of thumb is that each of these categories should consume no more than 20% of your net income each month.

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