With Christmas just 11 days away, it’s easy to see how a payday loan can seem like the answer to all your prayers.
But believe me – IT’S NOT! It really isn’t.
Payday loans are appealing because the money can be in your account in a few days. Great stuff. The downside, however, is (yes, you’ve guessed it) THEY NEED PAYING BACK! And paying back with bells on!
The rates of interest are often staggering and the pressure to repay endless to the point of harassment.
If that wasn’t enough to drive you mad, they often insist on having access directly to your bank account. This means that you are effectively handing over control of what goes into your bank account to these lenders! Believe me, they will have no conscience about beating you to the money that goes into that account – they won’t care in the slightest if it’s all you have to keep the kids fed and warm.
Before you take on any kind of loan, ask yourself this – if you don’t have enough money to see you through to the end of this week or month, how will you cope next week or next month when the loan payment gets taken out before anything else?
If you don’t know the answer, then don’t take the money! Don’t let these lenders get rich at the expense of you and your family.
Christmas is an expensive time and we all feel like we want to give the children one of those, one of those and one of those (as seems to be their perpetual chant from October onwards).
But don’t be worn down by the constant pressure to buy. If you can’t afford it without borrowing, then the answer has to be “NO!”. Remember, too, that the Jones family we are all striving to keep up with probably can’t afford it either!
Thankfully, the internet is great for finding gifts at far more affordable prices than on the high street and – in some cases – completely for free!
The Freecycle Network is a fantastic site where people put items up that they no longer need and invite you to take them for free! At the time of writing, there are all kinds of offers in the Manchester area, on items ranging from a stereo music centre to a ladies bicycle, concert tickets to see the Saw Doctors and a three-seater couch! Why not take a look?
Gumtree also has some cracking deals. If you use the site’s search engine to look for “freebies”, you can find some serious bargains! After a quick search in the Manchester area, I’ve found a free exercise bike and a free 50 inch TV with a Freeview box. Take a look and see what you can find!
And if you’re looking to buy from the big online sellers like Amazon etc., why not use a website like www.priceinspector.co.uk to compare prices and make sure you’re getting the best deal?