When is a cash based budget best? The answer is right now. During this economy, cash is king and it’s best for anyone who wants to thrive financially during the economic recession to focus on paying for everything with cash instead of credit.
Why Cash Vs. Credit?
The simple reason why cash is always better than credit is because with credit, you’re always going to pay interest on anything that you purchase so, for example, that pizza that you just paid $10 dollars for is going to cost you $12 once you finally do pay your credit card bill even though you were hungry and decided to pay for it with your credit card.
Credit is great to use in a pinch especially for car repairs, medical needs or a family emergency, but it should never be used for anything that emergencies or the occasional need when you absolutely have to pay for something and don’t have the cash for it.
Pay Off Those Loans Now
You just took out that personal loan to pay for your groceries, but what you don’t know is that cash advances or loans that you can easily get online will only end up costing you double just like credit card because most people never pay off their loans when they are due. They will keep re-advancing the loan until it becomes almost impossible to pay off.
Establish A Budget
The best way to guarantee that you live on cash and avoid credit or falling into the trap of endless cash advances is by developing a budget and sticking with it.
The first step to developing a budget is to know exactly how much money you have coming in every month then write down what your total bills and expenses are; after you’ve factored in your bills and expenses make sure you focus on paying those bills and expenses first every month because if you pay your bills and expenses first, you will be less tempted to advance money or take out personal loans to cover your basic bills like electrical or other needs like buying groceries.
Going to college is a very exciting experience especially if you are part of a committee that likes to throw different types of campus events for all of the students, but also all of the general public to enjoy. This means you need to have excellent advertising skills in order to be able to have a good turnout that will give your committee money for all of the different activities that you and your fellow colleagues enjoy doing.
Working On Your Advertising
The first thing you need to do as a group of individuals in charge of advertising is determine how much money you have for each of the different budgets that you are going to require. Advertising is one of the most important things that need to get handled therefore you need to take some time to make sure you hire the perfect Baltimore advertising agency that will be able to spread the word all around your local area.
Scheduling Your Events
Campus events are always going to be a very exciting time so always be sure that you have plenty of time to get everything scheduled accordingly. You also need to think about all of the student schedules and be sure that everyone will be able to attend. It is always very important that you have as many people as possible at all of your different events. You should have things scheduled so that people can go to work and then attend the campus events after work.
Hopefully all of your events go well and everyone has a wonderful time participating. After everything is done it is now time to count all of the money that you have earned along with all of your colleagues. The money should be plenty to do exactly what activities you all had selected.
If summer is almost over and you’ve saved up your summer earnings you might actually have nearly enough for that special something you’ve been saving for. If you’re so very anxious that you just can’t wait, you may consider checking out some of the companies that offer cash loans.
To Wait or Not to Wait
That truly is the question. Borrowing from an instant cash company or payday loan service can get you just that much closer to what you’ve saved for but keep in mind that these places make their money from you and others like you. They frequently charge higher interest rates than, let’s say, a bank; but if you could get that type of loan from a bank, well, you wouldn’t be in need of their service in the first place now would you? These loans are quick, easy and doable over the internet on your laptop. There are also loans called title loans in which you basically promise the title of your vehicle against the loan. It can be risky however; after all, who wants to lose their wheels? But if you’re absolutely, positively sure that you won’t have a problem paying off that loan, hey; go for it. Unless of course a vehicle is what you’ve been saving up for! That does put a crimp in the whole title loan idea.
I Told You I’d Pay You Back!
If perhaps you’ve all ready hit someone up for a loan at the beginning of summer, or earlier, you might want to grab a quick payday or cash loan just to pay them off and be done with it. Now I’m not saying that the party from whom you took the loan will be intolerable when it comes to being marginally ungracious about nagging (reminding) you about “that money I borrowed you”; but some individuals just can’t seem to help themselves. It’s their nature. Decide whether or not you can put up with their incessant bothering or if you simply want to get it over with and pay them back.
Borrowing money is something most of us need to do at some point in our lives. No one should ever be ashamed to ask for help.