Payday Loans

4 Ways To Avoid Payday Loans By Raising Cash

Considering the very fact that short-term payday cash advances charge extremely high rate of interest (usually in 3-digit APR) and that the number of consumers who get trapped into the viscous cycle of payday debt is only growing with every passing month, it is very important for you to know how to avoid payday loans and still be able to arrange extra cash to meet your temporary financial emergencies. There is a wide array of reasons why people often choose to go for these easy yet highly risky lending programs. For example, many people obtain this loan to pay their high-priority bills in time, such as a mortgage payment, electricity or gas bill, and any other such thing. The unfortunate thing is that people these days are turning to these risky loans even when the need is not very urgent, such as to fund their vacation. Such financial moves are obviously not wise ones. You are strongly recommended to turn to these loans only if you do not have any better alternative available and only if the need is a genuinely urgent one. Following is a brief rundown on four effective ways that can help you raise extra cash.

Use Your Creative Talent

The world of Internet is full of opportunities for those who have some creative talent. You can use your creative talent to make money through Internet so that you can avoid payday loans. For example, if you know different languages, such as French, Spanish, and others, you can get different types of high-paying translation jobs. If you do not know any foreign languages, but you can write good articles in US or UK English, you can also get some decent freelance creative writing jobs. If you are good in creating images and graphics, you can find freelance online jobs in this field also. Overall, no matter which type of creative talent you have, there are online jobs available out there, which can help you make a decent extra income by working just a couple of hours extra every day. The best thing is that these freelance jobs allow you to work as per your own convenience; the more you work, the more you earn.

Sell Stuffs On eBay

Another great ways to raise extra cash to avoid payday loans is to sell stuffs on eBay. You can sell anything on eBay, such as old books that you do not need any more. The best thing about this option is that it allows you to sell your stuffs very quickly and at better prices. If you have old college books that are in demand and that are very highly priced if bought new, you can easily sell the same in couple of hundred dollars on eBay. Even if you have nothing to sell on eBay, you have an option to sell others’ products and earn good commission.

Organize A Yard Sale

You can also consider organizing a yard sale when it comes to raising extra money to avoid payday loans. There is a very large number of people that are always on a lookout for some great bargain deals in yard sales. Therefore, this is probably the time to have a look at your home and find out things that you no longer need or use. You will be surprised to see the amount of junk things that are there in your home. Clean up the clutter and turn all those junk stuffs into cash through a yard sale. This method can also help you raise a couple of hundred dollars easily.

Bake Sale

Another strategy that people often use to raise extra money to avoid payday loans is to organize a bake sale. If you are good at making cakes or baking up some sweets, you can consider preparing the same and then selling it. This option is more affordable to you if you already have the necessary ingredients available at home. Though you cannot expect to raise as much cash from it as you can in the above three options, you can still manage to raise enough to meet some of your financial needs. You can even get help from your kids in this venture; you can give them the homemade cookies in decent packages and send them to school to sell those cookies. You can easily make somewhere around $100 using those method, and you can do this very quickly.

Always remember, when you take a b\payday loan, you will end up paying over $40-50 as interest and finance charges on every $100 of loan borrowed for a 14-day period. It means if you are borrowing a $500 of cash advance, you may have to pay somewhere around $250 just in the form of interest and other fees. You can use this money for something more productive. Therefore, when you need instant cash, you must sit down with a calm mind and do a thorough brainstorming on how you can raise the extra cash needed to avoid payday loans.

Custom Search

Tags: ,
Posted in Payday Loan Alternatives, Payday Loans | No Comments »

Leave a Reply

You must be logged in to post a comment.