Payday loans : Ways to save money
Loans can be daunting especially when it’s your first time of getting them. But contrary to popular belief loans are actually easy to pay. As long as you have the discipline to pay them off and save up then you won’t have any worries in getting rid of the loan that you just have created. There are many ways in which you can easily pay your payday loan. Below are some easy tricks that you have to thoroughly remember.
Refinance your loan
This is one of the easiest ways to lower your payment, save interest, and pay off your loan in half the time (if you have semi-good credit, of course). Many local banks and credit unions are offering super-low interest rates on mortgage loans and car loans. I started off paying an interest of 5.75 percent but was able to refinance to 3.16 percent. Recently I’ve seen auto-loan interest rates as low as 2.25 percent, which is crazy good. Of course, choosing a good online payday loan can be very beneficial for you.
Find a side hustle
If you want to pay off your debt as soon as possible, then you should make an effort to get money from different sources. If you’re employed and you find yourself having several hours of free time after work, you can do online jobs or freelance works. On weekends, you can also do part-time jobs to make your free time productive. For example, for employed writers, you can do freelance writing on your free time. For employees with an artistic and musical side, you can sell your traditional and digital art or perform in different gigs like weddings or events. If you want to make money, there are a lot of ways to get it from. The internet is full of crazy good opportunities that can help you finance the loan that you have.
In other words, be frugal. Start by cutting down on your daily expenses by taking the train to work instead of riding a cab, packing your own lunch rather than eating out, or maybe even skipping the morning coffe. We know, it’s hard, and it’s even harder if you’ve grown accustomed to care-free spending habits. Just keep in mind that this is the price that you have to pay for getting a space that you can really call your own. But don’t, I repeat, don’t deprive yourself. A little luxury goes a long way in achieving long-term financial goals (and preserving your sanity). After all, rewarding yourself is also an investment. We’re merely proposing that you realign your priorities, at least until you finish paying off your loan. At the end of the day, the feeling of magically paying off your loans feels much better than a good cup of coffee.
Cut off subscriptions
Subscriptions are payments that you don’t really need. They are only useless, additional expenses for you. If you have your Wi-Fi and mobile internet plan on top of your TV cable subscription, then you might want to consider cutting off your subscription on one of these. For example, consider that some high-end mobile plans from different mobile network providers typically offer some movies and TV shows channel subscriptions included in the plan, like Netflix or HOOQ. Let’s face it; most of the things today are done online. Movies, anime series, Korean dramas, and even TV series can be watched in the internet today.
So, if you don’t frequently watch the TV during your free time, you might want to cut off your cable subscription. Or if you don’t frequently use your computer at home and are always glued to your mobile, you can opt to cut off your home internet subscription