What is a Cash Advance?

questioning-nerdWe all have those times in life; times when we need to get some cash fast, but the credit cards are maxed out and payday is a long, long way off. Say that the car needs a repair, a trip to the ER results in a medical bill that has to be paid, or the fridge is empty and needs to get filled with food ASAP. These are the types of situations that people find themselves in when they take out a cash advance loan.

Many people, however, are just not sure on what payday loans are, and need to know if these types of short term loans are right for them. Is a cash advance loan the best option, or should you choose to get money some other way?

To help you answer these types of questions, we have put together some information to help you understand payday advance loans a bit more. Contrary to what you might read on the internet or hear on the local news broadcast, it is not at all difficult to get a cash advance loans and – if you are smart – you won’t have to pay sky-high fees to get your fast cash loan.

Payday loans are known for being convenient and affordable. Here is some more information that should help you to sort out whether or not these types of short term loans are right for your current financial situation…

Cash Advance Loans Explained

In the simplest terms cash advances are ultra short term loans that borrowers can take out, with the agreement to pay back their loans and any associated fees on their next payday. Unlike using a credit card to get fast access to funds, though, a payday loan provides you with cold, hard cash or funds directly deposited into your checking account. Most borrowers opt to take out online payday loans these days. Once the direct deposit is made to their checking accounts they can get their money via the ATM, withdraw the cash from their bank or even go out and make debit card purchases/payments. It’s hard to get that kind of flexibility from a traditional credit card or bank loan.

There are some cash advance lenders that allow people to take out loans against their credit cards. This is generally not advisable, as it is very easy to mount up ever-growing credit card debt over time. Generally speaking, it is better to use a checking account and to pay off the payday loan when your next pay day arrives. This will prevent you from falling into a common cycle of debt that plagues so many people these days.

Convenient Cash without Excessive Costs

With so many payday lenders doing business online these days it has never been easier to simply go online with a computer or smart phone to get nearly instant access to cash. However, many people make rookie mistakes when they take out cash advance loans that can be quite expensive over the long haul. The number one mistake that people make is extending their payday loans. Failure to pay payday cash advance back on time results in additional loan fees that must be paid, which means that the borrower ends up paying much higher loan fees than they should have to. Borrowers are strongly encouraged to always budget properly to ensure that they pay back their payday loans on time, and to avoid additional loan fees getting tacked onto their existing loans.

Payday loans, like any other type of financial transaction, must be used the right way. People need to do their homework, borrow from reputable lenders and make every effort to pay back their cash advance loans on time to avoid future financial complications.

Crucial Information About Online Cash Loan Services

cash advance onlineEven though the country is on the road to recovery after the most recent recession, there are still plenty of people out there going through lean financial times. Paying the bills and taking care of the bare necessities is often difficult, if not impossible, with many people living from one paycheck to the next. But what do these folks do when an additional expense comes up, and there is not enough money in the checking account to take care of it?

The fact of the matter is that these types of unexpected expenses are always going to happen at the most inconvenient time. However, millions of people turn to online cash loans services when they are strapped for cash and need to get money into their checking accounts as quickly as possible.

How Do Online Cash Loans Work?

The most common type of cash loan that people take out when they need fast money is the always popular payday loan. By now nearly everyone has heard about payday loans, but many people are not familiar with the process involved in taking out this type of cash loan from a qualified payday advance lender.

Payday Loans Explained

A payday loan, as the name implies, is a loan where someone borrows a relatively small amount of money (usually between $100 and $500) with the agreement to pay the loan back when they receive their next paycheck from their employer. Unlike bank loans or lines of credit from a credit card company, payday loans are for small dollar amounts and are intended to be paid back in a matter of weeks, not a matter of months or years.

Requirements to Get a Payday Cash Loan

Payday lenders don’t rake their clients over the coals or demand spotless credit scores from the people that they lend money to. Applying for a payday loan online is really quite simple. Once a potential borrower finds an online lender to request a loan from, it’s simply a matter of supplying a bit of basic information. During the loan application process, borrowers are asked to provide:

• Basic contact information – name, phone number, email address, etc…
• Checking account information – bank name/address, routing number and checking account number.
• Proof of employment.

Once an online cash loan request is submitted, along with the information listed above, it’s a matter of waiting for the lending company to approve the loan request. Borrowers are generally notified of loan approval via their email, and then they go to the lending website to confirm their loan request. Once this happens, funds are electronically deposited into the borrower’s bank account; usually within a few days. And because people can apply for these types of loans from any computer or device with Internet connectivity, they are considered among the most convenient of all loans currently available. Payday cash loans may not be the right solution for every type of financial hardship, but when people need relatively small sums of money quickly, it’s hard to find any type of loan that can provide people with the money they need in such a timely manner.

Paying Back a Payday Cash Loan

When people take out their payday loans online, they agree to pay back the loan amount plus flat loan fees when they get their next paycheck. This payment happens via an electronic clearinghouse payment, which is very much like any type of automated payment that people make to pay bills online. As long as the loan is paid back in full on the originally agreed upon date, there are no further fees to be paid, and the borrower is in the clear with no long term debt to pay.

How Social Media Can Affect Your Career

It is no secret that the younger generation loves technology and social media. They love to use technology to share everything they do with social media. We are in an age where they think that it is fine for everyone to know everything, and include pictures when they have them. What the younger generations need to realize is, that doing this can hurt your career now, or if you do not have one yet, later on down the road when you are trying to get a job.

When you apply for a job do you think that your application and resume are the only things looked at before a decision is made about whether or not to interview you? If you do, you are wrong. With social media so prevalent in everyone’s life these days, many employers turn to social media to see what you are like as a person. If they see a lot of immature and possibly illegal things, there is a very good chance that your application is going to be passed up.

You may be thinking at this point that they will not be able to see anything because of the privacy settings you have. That is fine; it could get you to an interview, and maybe even a job. However you must keep in mind what will happen after you get that job. There are some bosses who try and be friendly with their employees and friend them on social media sites. Should you decline the request it leaves your boss wonder what it is that you do not want them to see and if you accept their friend request are you going to regret what they see?

Another thing that many people forget is that if they use the company computer to get on their social media sites, the company you work for has every right to see what it is you are doing. This means if you are posting something that you would rather your boss or coworkers do not see, it can and possibly will be seen by someone, and if it is bad, you could end up in trouble.

Once you have that job you are probably working on your career and making something of yourself. What you put on your social media site can ruin that. Any work you have done to further yourself in your career could be completely undone by inappropriate things you post on your site. Should your boss find out about these things or see them for themselves you run the risk of losing your job. For example, anything negative you post about your job or boss will get you fired. Another thing that will get you fired is posting inappropriate things, or anything that could be illegal. This is something that many that belong to the younger generation do not really think about.

Social media is great; it can help you catch up with family and friends who do not live near you. Social media, however, can kill your career if you are not careful. You have to be responsible with your social media page, after all your career depends on it. If you are able to be responsible with your social media page, you will have nothing to worry about when it comes to your career, if you are not however, your career could very well be held back. So do what you need to do to keep your social media page from hurting your career.

Smartphones, New Target for Hackers

When we first started carrying cell phones we did not have to worry about people hacking into them. All they could do was call someone, then they evolved to where we could text, play some games, and even take pictures. Now, however we have smart phones and the possibilities of what we can do is endless. This unfortunately, leaves us vulnerable to hackers trying to steal our information through our smartphones.

When the average person thinks about hackers they think about their computer or about company’s data base’s. Not often do we think about our smartphones. This is something, however, that we need to train ourselves to keep in the front of our minds. Why? Criminal hackers have turned their attention to smartphones and have made them a bigger target than they have been in the past.

LG Cookie Fresh GS290 Smartphone

This increase in smartphone hacking has been increasing over the past two years. Many of us have not noticed this or may not have heard of it in the news as company and bank data breaches make the news before a smartphone hack would. One of the problems is that most smartphones do not come with much malware protection or security in general, and we do not think to talk to the sales person when we buy the phone about what to do to make it safer.

There are various apps that can be downloaded to help protect your phone, and they will have a good idea of what will work for you. Ask your sales person many questions. Find out what they know about keeping your phone protected and take their advice. You can also find information on the internet, reviews of various apps on how well they protect your personal information. After all our smartphones contain practically our whole lives on them and almost all, if not all, of our information, if someone hacks into your phone they have access to almost your whole life and can do a lot of damage to you, your life, and your credit.

Hackers have found that one of the easiest ways to get into someone’s smartphone is by texting. Have you ever got a text that had a link in it, the text could claim they are your bank or some other company with some offer or another. Most people do not realize however that by clicking on that link they could be downloading a virus of some sort. We need to look at this as spam text messaging. We get spam email, and we know to go through our email and delete what we know to be spam instead of opening it and risking any potential virus. The same need to be done with text messages. If you do not have the number saved in your phone and you receive a text with a link, delete it right away, do not under any circumstances, no matter who they say they are, click on that link.

We are living in a world were cyber-aggression is increasing almost by the day. This means that we must up our attempts to keep our information ours and ours alone. Hackers do not have the right to take our information, and we have to fight to keep it safe. If you are one of those people who think it will never happen to you, you are fooling yourself. Cyber criminals are able to get to anyone whether it is on a computer or your smartphone. So when you think about cyber criminals and hacking do not just think about your computer, think about your smartphone as well, it is just as vulnerable, if not more because we tend to forget about it. Keep your information safe both on your computer and on your smartphone.

Deal With Your Credit Before You Look Into Buying a House

Buying a home is one of the great American dreams. It is something that many people strive for. It takes work to get to the point where one is ready to make that big of a purchase, you have to save up some money, qualify for a loan, and find the right home. Before you go looking at homes and signing any papers, you need to deal with your credit, making sure that it is in a good place for getting a loan and a home.

We all know that our credit is important. There are so many things in our lives that our credit affects that we may forget some of them. Do you connect your credit with buying a home? If you do not then you should, and if you do, then you may be ahead of the curve. Having a good credit score will be a huge benefit when you are trying to get a loan for a home.

If you have a low credit score it is going to be harder to get a bank to give you a loan. When or if you find one that does, the annual percentage rate that they offer you is going to be much higher than what they would offer to someone with a high credit score. Having a higher annual percentage rate is going to make your monthly payments higher and it is going to make it so you will end up paying on your house longer. No one wants that.

Another advantage to having a higher credit score is that you may qualify for a larger loan which means that you can get a nicer or larger home. Home prices vary depending on the age of the house, the area, the shape that it is in, and more. The amount that you can get loan to you will determine what options for a home that you have available to you.

What subprime crisis?  Affordable houses are e...

So what should you do before you go to the bank to find out what sort of loan you qualify for? Start by getting your credit report. Getting your credit report from more than one source is a good idea because they may show different things. You then need to go over your credit report meticulously looking for any possible error there could be. If there is an error in your credit report then it can cause your credit score to go down which could hurt you. If you find an error take care of it right away.

If you currently have any debt work at getting it paid off as fast as you can. If you are able to make more than the payment that is requested then you should do that, it will help to get it paid off faster. The less debt you already have when you go to apply for a home loan the better offer you can get from the bank.

Do what you can to avoid paying late fees. Keep track of all your bills to make sure that you pay everything on time. You should also avoid trying to get any sort of new line of credit. This all going to make you look bad when you apply for a home loan, so you will want to make sure to avoid it if at all possible.

It is an exciting time in a person’s life when they decide they are ready to start the process of looking for a home. However, in order to be a responsible adult, you must deal with your credit prior to going to the bank and asking for a loan. You may want to know right away the amount that you qualify for, but you have to clean up your credit first. This way you will get the best annual percentage rate you possibly can, and you can possibly get a larger loan. So remember the rule; deal with your credit before looking into buying a house.

Think Online Shopping Killed Shopping Malls, Think Again

It is no secret that online shopping has become more and more popular, especially during the holidays. Many find that it is convenient to order what they want online and not go out and face the crowds at shopping malls. This has led many to believe that online shopping has taken enough consumers and sales from shopping malls that they are slowly, but most definitely dying throughout the country. The truth is however, that shopping malls are standing strong everywhere.
People still want to be able to go out and purchase their items in person. There are many reasons for this. One is that when you go shopping at the mall, you are getting social interaction. Whether you go shopping with a friend or family member, or just talk to the employees, you are getting social interaction and no matter what age you are it is important to have social interaction on a regular basis. It helps your mental health to get out and be around people and talk to them, shopping malls provide that.

Fffsss Every clothing company sizes their clothes different. The same can be said for shoe companies. This means if you order clothes online you can never be quite sure that the item you ordered will fit quite right. Going to the mall and trying these clothes and shoes on gives you the opportunity to make sure that you get the fit that you are looking for. After all if the article of clothing you bought does not fit right, then you will most likely want to return it and with online shopping that means you have to pay to ship it back.
Think about gift giving. If you are not completely sure that the recipient will like it or you are not sure of a size you typically get a gift receipt so they can return or exchange it. Returning something to the mall is much easier than returning or exchanging a gift you received online. This is yet another reason that people like to shop at malls for gifts as opposed to get them online.
It is true you can go to any given city and find a so called “ghost” mall, one that did not do so well and did close down. These malls certainly are not a great sight, and they make people wonder about the area they are in and if the whole area is in financial trouble. However, you can go to another part of that very same town and see a shopping mall that is thriving. In my town there is a mall on one side that only has two large stores left; the rest of the mall is completely empty. However, if you drive to the other side of the town, you can see a mall that is always busy and that has recently added a large new section to it, which is a sign that the mall is doing very well, after all no company want to put a store in a mall that might shut down soon.
You will come across people who will tell you that malls are dying and that within ten years or so they will be no more. The evidence we have before us, however, says differently. Shopping malls are not going anywhere, they are a place that people gather, teens hang out, many earn their income, and others get their social interaction. The fact is, shopping malls are a vital part of our ecosystem, because without them, there would be a lot of people who would not really know what to do with their time, or how to make money, or a better way to get social interaction. You see malls are not going anywhere, so go visit your local mall today.

Your Child’s Behavior Now Can Help Predict Their Financial Behavior In The Future

You may not have realized it, or even ever thought about it, but the behavior you observe in your child now can actually indicate how their financial behavior will be when they get older. If you watch them in various situations you will have a better idea of what they will most likely be like and then you can direct their financial education in such a way to give them the best possible chance of success in the future. There is even a simple test that you can perform to see how they will be with saving.

So what is this simple test? Well, to perform it you need to get something you child enjoys very much such as mini candy bars, or whatever you feel will work best for your child. You then will place on of those items in front of your child and about three of them off to the side. Tell your child you need to leave the room for a little bit and let them know that if they want one of whatever you left for them, they just need to call for you. Then let them know that if they are able to wait until you come back into the room, they can have all of them. This will show you how long you child will wait in order to gain something better than what they already have. If they are able to wait it is a good sign that they will be able to wait for money to mature in various accounts. If they are not able to wait, then you will know that it is something that you should work on with their financial education.

Pay attention to how your child reacts to anything that has to do with money. Do they ask for things or do they demand them? Asking for things can show that they will take the time to consider in the future if they have the money before making a purchase, but demanding things could show that they will buy on impulse without checking how much money they have, which could lead to overdraft fees. If you notice this then you will know how to direct their financial education.

Behavior

It is important to watch how you are with money around your children as well. Most children pick up their money habits from watching their parents. This means that it is the parent’s responsibility to set good examples when it comes to money and the family’s finances.

Teaching your child about earning money and the value of the money that they earned is important as well. When they understand what it is like to have to save money in order to get something that they really want, they will appreciate it more and it is a good lesion for the future. It will show them how to save for a car or a house.

The behaviors you see in your child now can predict what their financial behavior will be in the future. This gives you a great opportunity to direct their financial education in such a way that they will have the best possible opportunities financially that they can. Most schools will not teach your children about personal finances so it is up to you, and by watching their behavior you can create a personalized financial education plan to make them as successful as possible.

Payday Loan Users Are a Financially Savvy Bunch, According to Survey

There has been a debate for some time now about payday loans and whether or not they are good for the consumers who use them. Some say that they are bad for the consumers and that they do not know what they are getting into. Unfortunately for those people a new survey has been released that proves them wrong and shows that those who use payday loans are much more financially savvy than they thought.
The Consumer Financial Services Association had Harris Interactive do research on the matter. While doing this research Harris Interactive found that the reality of the payday loan industry is that the majority of those who take out payday loans know what they are getting into and they do understand the terms of the loan. This is in contrast to those who say that payday loans take advantage of the consumer, as the survey shows that there reasoning is not true.

Harris Interactive

In fact a whopping ninety-three percent of the payday loan borrowers who were asked said that before getting a payday loan they did take the time to weigh the benefits and the risks. They knew what they were doing when they walked through the door of the storefront payday lender or got online to get a payday loan. This is something that of course should be done before any type of financial transaction is done.
The survey also found that ninety-five percent of those same people who were polled feel as though the payday loan is a safeguard in the event they run into a financial emergency. They know that if one were to happen they would have the ability to go get a payday loan and deal with it. Emergencies, however, are not the only time people get payday loans; they also use them for day to day expenses.
Another eighty-nine percent of the people who were polled by Harris Interactive said that they feel that the cost of getting a payday loan is completely worth it. They feel that the cost of the payday loan is less than the financial pitfalls they could have to deal with had they not got the small short term loan. Overdraft fees and bounced checks can be really expensive; the fee that comes with a payday loan can be much cheaper and much less embarrassing.
When it comes down to it, the vast majority of those who take out payday loans know what they are doing, they know what they are getting into, and they understand all the terms and conditions that come with that loan. They would rather get the loan than deal with the consequences of whatever it is they need the loan for. Everyone has their own reason for needing a payday loan, and this survey shows that those who get them are much more financially savvy than many people, mainly those who are against payday loans, give them credit for. So the next time you could use some financial help, remember that getting a payday loan can be a rather financially savvy move, as long as you know what you are doing and understand everything.