Payday Loans

35 Creative Money Saving Tips To Avoid Payday Loans – Part 1

If you want to avoid payday loans, you must always have enough savings available with you so that you can meet unexpected financial emergencies quite efficiently as and when they come. Regardless of your monthly income, it is very important for you to keep in mind that saving money is not a very difficult task. You just have to learn the art of smart spending. You will have to make sure that you are making the best use of each and every penny you earn. It requires a lot of hard work to earn money, and obviously, it does not make any sense to spend that hard-earned money carelessly on things that bring no benefit for you. Following are 45 very useful tips that will help you save a lot of money. With a decent savings in hand, you will never need to borrow expensive payday loans to meet your financial requirements.

1. Use Your Negotiation Skills

While you are working on your strategies to avoid payday loans, you must also understand the role and importance of your negotiation skills. Whether you are purchasing something, borrowing a loan or are just trying to work on a repayment plan on certain debts, you should never hesitate to negotiate for a better deal. Just because a particular product or service comes with a certain price tag, it does not mean that there is no way to purchase the same at a lower price. A little bit of bargaining often works. Always remember, the competition in the market is at an all time high no matter which industry it is. In order to make new customers and retain existing customers, businesses will always consider a little bit of bargaining in your favor.

2. The Tap Water Has Also Passed Inspections; So, There’s Nothing Wrong In Using It

In order to avoid payday loans, you need extra money always available with you. So, you are advised to look at every possible way that can help you save money. For example, most people seldom realize that they spend a large sum of money every month on bottled water. They think it is better from health point of view, which is not wrong also. But, if you are in America, you can trust that tap water. There is no health threat if you drink the same; after all, it has passed inspections. You will be surprised to see the amount of money you can save once you stop spending on bottled water.

3. If You Buying Something In Installments, Look At The Total Cost Of That Item

While you are trying to build your savings so that you can avoid payday loans, you must also be very careful about the money spent on things that you buy through installment payments. When something is available to buy on easy installments, people often tend to look at the amount of money they have to pay every month. If that is something they can easily afford, they think it makes a wise purchase. This is not the right strategy. You must always first add up all the installments to see how much exactly that item is going to cost you. Since merchants charge high rate of interest when they provide such installment facility, you are very much likely to spend a large sum of money in terms of interest and other applicable fees. When you look at such purchases in this context, it will help you make an informed decision whether you should buy that item or not.

4. Organize A Garage Sale

Organizing a garage sale (also referred to as yard sale) is one of the best ways to get that extra money you need to avoid payday loans. Most people never realize that they have a lot of useless things lying in their home as clutter, but those things still have some cash value. The garage sale provides you an opportunity to turn those clutters into cash. Americans are always on a look out for a bargain deal in garage sales. It is very much possible that you have something that is useless for you, but other people find it useful for them. So, try this and you will be happy to see how much extra money it can generate.

5. Stop Telemarketing Calls And Junk Mails

People are encouraged to purchase certain things through telemarketing calls and through direct marketing mails. Such calls and junk mails are very much likely to disturb your focus while you are trying to concentrate on money saving strategies. Therefore, it will be wise to stop those calls and mails. You can register your phone number in the ‘do not disturb’ list and also get your name and address of the direct mail list by contacting the Direct Marketing Association.

6. Always Do Thorough Comparison Shopping

Comparison shopping is another proven strategy that can help you generate a lot of savings so that you can avoid payday loans. If you always visit the same store to make your purchases, you are advised to break this rule now. It is very much likely that the same product is available at a much lower price in another store. So, it is always wise to contact different stores at least through phone calls and enquire for their prices for the product in question. Comparing their prices will help you decide where you should make your purchase from.

7. Keep Your Receipts, Especially Those That Can Be Used For Tax Deductions

Sometimes, it happens that you are eligible for a certain tax deduction but you still cannot avail the same just because you do not have the receipt as proof. Receipts are very important not only in the context of tax deductions, but also because it turns out to be very useful in several other situations, such as when you are not satisfied with the product and you want to return it. Therefore, you are advised to keep all your receipts safely in a file; those receipts can save you money in future.


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Posted in Payday Loan Alternatives | 1 Comment »

One Response to “35 Creative Money Saving Tips To Avoid Payday Loans – Part 1”

  1. John says:

    “Spend less, earn more”, this should be the keyword of our life style but unfortunately, we follow this statement in its reverse side. Most of the Americans find them selves in a position of shortage of money till the month end that’s why Pay day loans are very popular. We can avoid such type of loans by following some easy factors. We should always try to make a full fledged budget of our monthly expenses. If we are going to buy some thing, always cross check the price with some other shops so that you can select the cheap ad best option for you. Bargaining can also work some times so do not hesitate in trying it. Sometimes, we purchase a big thing just because it is available in installments. It is not at all a good habit to go for the installments because they charge extra money like file charge, interest and installation charge etc. Overall, it finds to be more expensive than the actual price. Useless things of your yard can also save you from taking the pay day loan. You can arrange a Garage sale to get some extra amount of money. The tap water available at your home is 100 % safe. You can save money by using tap water instead of bottled water.

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