Payday loan approval is easy when you know what to expect when you apply for an online cash advance.

Here’s what you’ll need to get instant approval for fast cash: Read the rest of this entry

Don’t you hate overdraft fees? Then you’ll love how I reclaimed over $500 in bank fees and overdraft fees with a simple letter – and you can, too!

Get Unfair Overdraft Fees and Bank Fees Back With a “Magic Letter”

Instead of calling or going into a branch, I wrote a “goodwill letter” address to my local branch manager.

I asked her to kindly waive all the fees because:

• I’m a loyal customer
• I’m good with managing my money
• And I’ve referred people to them

I explained

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Are you short on cash and need money fast?

Here are six easy ways to get the money you need – legally, and before you get a cash advance loan.

#1 – Borrow Cash from Friends or Relatives

Unless you’re a mooch, people will be happy to help you out – as long as you keep your word and pay them back on-time and in-full.

In fact, to make them confident you’ll hold up your end of the deal, write-up a simple IOU. Just say, “For value received, I agree to repay so-and-so $100 by September 15, 2007,” then sign and date it. If you don’t pay-up, they can enforce it.

Listen… If you want people to help you, be responsible and assume the risk in the transaction. Borrowing or lending money without an agreement is like jumping out of a plane without a parachute. Show people you’re responsible and they’ll help you!

#2 – Sell Your Old Stuff on Craigslist!

eBay is great, but Craigslist is better if you need money NOW and you don’t want to hassle with shipping stuff.

Do you have jewelry, furniture, collectibles, books or electronics you don’t need? Just go to www.craigslist.org and post free classifieds in your area. Because you can post local ads (like a newspaper), you could get the cash you need the same day you post an ad!

#3 – Borrow Money from Your 401k or Retirement Fund

The benefit of getting a loan from your 401k is that even though you pay interest on the loan, you pay it to yourself! You only pay a penalty and taxes if you take an early withdrawal.

If you take out the money as a loan, you can take as little as one month or a few years to pay it back… and… each payment is taken out of your paycheck automatically until it’s paid back.

For example, if you borrow $500 and you get paid every two weeks, you can get a loan with a 6-month term. Your employer will deduct about $40 from every paycheck, which is put back into your 401k fund. Instead of paying interest to someone else, you pay it to yourself!

#4 – Ask Your Employer for a Payday Advance

Did you know some companies offer up to two free paycheck advances a year?

Even if they don’t have a paycheck advance program, you have nothing to lose and much to gain when you ask!

If they say “no,” politely tell them you need the money for transportation to get to/from work (if that’s true!)… or… that advancing you the money will give you peace of mind, so you can better focus on your work. Just be polite and respectful!

If you’re embarrassed, don’t be. Unless you get paid every day, your employer owes you money for work you already did. Isn’t that true? If you get paid this week, you’re not being paid for the work you do this week. You’re being paid for the work you did last week (and probably the week before.) So, at any given time, you’re lending your employer your time. And because time is money, you’re lending them money in a way.

#5 – Get a Cash Advance from Your Credit Card

If you’ve exhausted all options… and… your next step is getting a payday loan, you’ll save more money if you can take a cash advance on your credit card, instead.

Just be aware of two things…

First, read the fine print of your card agreement (you still have it, right?) and see what fees apply for cash advances. This is important because if you have $500 in available credit and you take out $480, the cash-advance fee could put you over your credit limit, resulting in another hefty fee: the dreaded over-limit fee!

Second, treat a cash-advance as you would another loan – pay it off as soon as you can! When your credit cards are close to maxed out, bad things happen. Your credit score can tank because of high utilization (how much credit you use compared to how much you have available)… and… credit card companies can raise your interest rates because of this – even if you always pay on time and you never go over your limit.

#6 – Which Bills Can Wait?

Desperate times call for desperate measures, and sometimes you can’t pay everything at once.

Ask yourself… Which bills can wait and what are the consequences of not paying them now?

Here are some bills you might be able to get extensions and/or the late fees are minimal:

• Car payment: Ask for a 30 or 60-day deferral without negative reporting to your credit. Most will do it if you have a good payment history.
• Cell phone: Late fees are usually small, and sometimes you can go a couple weeks before your phone is shut off. Ask your carrier what their grace period is.
• Electric/gas bill: My utility company charges a 1% late fee. For a $200 bill, that’s $2 bucks! If you owe money for previous months’ utilities, ask about setting up a payment plan. Just stick to it, because if you miss one payment, they won’t work with you in the future.

Here are bills you should always pay on-time:

• Credit card payments: One 30-day-late payment could tank your credit score 100 points. A 90-day-late payment is as bad as having a car repossessed. Do whatever it takes to protect you credit. It’s more valuable to you than you realize. And, if you credit is bad, that’s all the more reason to make sure nothing else bad winds up on it… because… with time, it gets better.
• Rent: While most landlords are not on-the-ball, and it can take over a month to get evicted… some landlords will start the eviction process immediately, and you could be out of your home in a couple weeks. The cost of being evicted far outweighs doing whatever it takes (within legality) to pay your rent on-time.
• Auto insurance: Most insurance companies will cancel your policy if it’s even a minute late. Get caught driving without auto insurance and you could be hit with hefty fines of $500 or more!

Just remember… If you put-off paying a bill, come up with a plan for paying it as soon as you can.

If that means you have to give up a few luxuries like eating out or shopping for a few weeks, DO IT! And always make sure the benefits outweigh the consequences of paying it late.

Your Friend,
May Ann Winters

Need a payday loan fast? I reviewed over 50 cash advance sites and most are dishonest our outright scams. Read my payday loan reviews now to find out where you should go if you need a fast, easy online cash advance in 24 hours or less.

     Money is a tool. It can help you or hurt you depending on how it’s used.

     Payday loans are no exception.

     With them, you can avoid expensive overdraft and late fees and the embarrassment of bouncing important checks.

     But, are there times when payday loans are a bad idea?

     Of course!

     Here’s when you should think twice about getting one:

To Buy Gifts

     If you’re short on cash, it’s ok to get a loan if you know you can pay it off in two weeks. If you can’t, set your pride aside and ask yourself, “How can I buy gifts for less than $200 this year?” (Substituting $200 for how much you have to spend.) Keep asking yourself until you get an answer. Ask other people, too!

     You’re smart and I know if someone offered you a TV for $500, you wouldn’t give them $1,000. That doesn’t make sense! But that’s exactly what you’ll do if you get a loan to buy gifts (which are not necessities) that you’ll pay interest on for weeks or months to come.

When You Lose Your Job

     If you lost your job, take a deep breath and relax! It happens to the best of us! Remember this – Every adversity carries the seed of an equal or greater benefit if you believe it.

     Life will get better as sure as the sun comes up tomorrow.

     But if you want things to get better, the worst thing you can do is dig yourself a deeper hole.

     Taking out a loan you know you can’t pay-off or renew in two weeks is a disaster waiting to happen. You’ll avoid trouble today, but create gigantic problems for yourself in the very-near future.

     Look, first, for ways to make to make money fast like selling old stuff on eBay or taking online surveys. You’ll find lots of easy, money-making ideas on this site.

To Pay Other Payday Loans

     If you had a wound, would you pour lemon juice and salt on it?

     Unless you a glutton for punishment, you wouldn’t. Taking out more loans to cover other loans creates a monster of a problem that will eventually consume you. You’ll spend valuable time and energy holding everything together… when… you should spend that time and energy figuring out how to overcome your challenges.

To Help Someone Else

     Helping people is great! Creating financial problems to help people is stupid!

     Ask yourself… If my friend/loved-one can’t get a loan on their own, how likely are they to pay me back?

     If you have money sitting in your bank account, you can do whatever you want with it. Even if you don’t get it back, at least you’re not stuck owing someone else money!

     But if you have to borrow money to lend it, you’re not in a position to help others. Remember, you can only help others to the extent you help yourself. Improve your financial life… and… you’ll be able to help more people.

     I’ve seen relationships destroyed not by money, but by the ignorant misuse of money! If you get a loan to help a friend and they don’t pay you back, guess who’s responsible for it? Unless you both have a contract, you – and you alone – are responsible! You take all the risk; they get all the reward.

     If you can’t pay-back the loan, it’s your credit that gets trashed, not theirs. It’s you who gets collection calls, not them. Are you starting to get the picture?

     If your friend/relative kicks and screams when you say “no”, guess what?… It mean’s they’re selfish and they’ll gamble your peace of mind, your financial security and your future so they can get money. They don’t want a loan… They want you to take responsibility for their financial failures.

     When you help someone who refuses to help themselves, you’ll create bigger problems for them (and yourself) in no time.

     This is your life to live – not theirs. You deserve to be treated with respect, and you deserve to spend or invest your money how you choose – not how someone tells you! You cannot worry enough to make someone else financially secure. You cannot get sick enough to make someone else well. So focus on how to make your financial life better, first!

Your Friend,
Mary Ann Winters

Need a payday loan fast? I reviewed over 50 cash advance sites and most are dishonest our outright scams. Read my payday loan reviews now to find out where you should go if you need a fast, easy online cash advance in 24 hours or less.