Are Payday Loans That Bad??

I know most of you have seen the commercials for these pay day loans, maybe you thought, "OMG!! I am so sick of seeing this commercial!! Who would ever use this??" I know I often thought that, especially when I see famous people promoting these outrageous pay day loans, with the fine print at the bottom of the screen that simply flashes before your eyes.
The fees are astronomical, and I often wonder is it really worth all this hassle and is it worth all of the extra money needed to borrow such a small amount?? I would have to say, no, however, there are a few scenarios that I do believe, this is a good option. (Only if you know you can afford to pay this back under the loan terms!!)
I have been through several "scenarios" throughout my 20 years of being a mom, and back then when I first started, we didn't have these options. (At least not in my town). So, how did I get through it then? It sure wasn't easy, and belongings had to be sold, there were times when our jobs, even with 2 jobs or 3, were not going to be enough for that month, so more jobs were taken, and that sacrifice was rather brutal on lives and family.
These days, there doesn't seem to be much of an option to have even 1 job, much less 2, 3, or 4! So, what do you do when you have bills that are way overdue, shut off notices, car repairs, Little League fees and cleats to buy, food and laundry detergent, gas money, your washer stops working or worse, your fridge, and there isn't any extra money coming in, other then your paychecks, and it just keeps piling up and up and up???
I know when we have 1 thing go wrong here at our house, we can usually expect for something else to happen, and something else, and it just piles up, and causes a rather stressful situation. Just recently, we had a chimney dilemma, (luckily it is summer, otherwise this would have cost a few thousand), unexpected chimney bill $200.00, not real bad, but then, my husbands tractor trailer (we own our own, so we also own the trucks repair bills;), needed a clutch, after 6 weeks straight of other repairs, AND an ac that needed charged, then fixed, then charged again, AND while we are still paying bi weekly payments to the repair shop that overhauled the motor in January!! It doesn't stop there;) We now have a pick up truck in need of a transfer case, a cracked windshield, (have no idea how that happened, just made a loud noise one day, and started to spread),and then of course, there are the regular bills, and those annoying quarterly bills that always come due during these times. (water, sewer, trash, ash pick up) Everytime something new happens, I refigure the bills and check our income, of course the savings account has been taken down to almost 0 again, and we can usually figure out that we will get through it, it may be tough, but as long as nothing else happens, we will be good!!
But, what about a single income household? What about a single mom or a single dad? And what about the next thing that goes wrong or breaks that week?? What do you do?
Maybe call your parents for help? (We personally never have that option!!), a sister, brother, friend, (again, we don't have that option), do you go to your bank and get a loan? (sure, if you have some super good credit!!), do you sell stuff? (to who?? and what are you going to sell? Especially when it is a short term situation, and next month has 5 weeks, meaning an extra paycheck, which means... you can pay it back out of that extra check;) So, in some cases, maybe check out payday loans, just to see what they have to offer.
Payday loans are for short terms, and usually have very high fees. But, what I would do, is add up the shut off notices (the late fees, re connect fees), the bounced check fees, the late fees for your rent/mortgage, the money missed from calling off work due to no vehicle, or the bus, taxi, fees for you until the money comes in for the repairs. (and that's even if that is nearby, in our town, we don't have buses or taxis, so we are kind of on our own).
Chances are, the fees, re connect fees, lost wages, and whatever else may be included in your current situation, are going to cost more then a payday loan, and it's fees.
Am I telling you to go grab a payday loan asap?? NO. But, I am saying that payday loans are really not as bad as most think. If your peace of mind, stress levels, and family, are going to have a much better day because of one, then I do think it is a good thing. I also think they are good when you really are down and out, and it is nice to know that they are available and around.
I do not think they should be used for splurges, shopping, vacations, things of that nature. Since, you will be paying tons back, and it won't be worth it. (kind of like a credit card). But when your late fees, utility shut offs, and car or house repairs, are cutting into your well being, groceries, and other things that are basics in order to live, then yes, I would personally apply for a payday loan.
** This post IS my honest opinion, and I am linking to this specific site, because it is safe, AND there are no fees attached when searching for a proper payday loan**

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When Everything Falls Apart

I have been there a million times, I am sure you have some experiences that are similar, I can't think of anything more stressful then being broke. Especially when it is something that could be fixed with just a few small simple tricks. Of course, sometimes, there are bills and disasters, and repairs that are much bigger then what you can find in loose change, coupon savings, your already depleted savings accounts, and you already borrowed from your life insurance policy, and already have late payments on utilities and you can't make another interest payment on your car loan. That's when it gets really out of hand, and the arguments with your husband/wife start and everything starts to go out of control, and even though you may earn lots of gift cards on survey sites, like my husband always says, lol, "You can't pay bills with Kmart cards !" (Although I have to disagree, because the gift cards can free up cash and pay for groceries, clothes, toiletries, things that you won't have to use your cash for, lol, but that's our argument;p) I go crazy, sometimes literally, and it does always pile up, and as much as I try and see the end in sight, or the light at the end, it seems impossible!! We have started a neat new budget here, and my husband is a huge fan of Dave Ramsey, sometimes, a bit to much of a fan lol! But, even when everything is running smoothly, i get a call or a text from my husband that says, "waiting for a tow truck" or "something is leaking from the fuel tank" AAAHHH! We have a tractor trailer, so these repairs are our responsibility and can be very, very expensive! Then we have a windstorm, and the next day, our chimney cap is laying in the yard, and then my son gets diagnosed with Acid reflux and his medicine is pricey and not covered by insurance, it just keeps coming! The first issue is ok, and can be dealt with, then the second comes, and that's ok, but may hurt a bit, then the third, and well, it's just necessary, and then the homeowners insurance is due, and so is inspection, and the water bill and the sewer bill and all those goofy bills that don't come every month. That's when I start to panic. If one more thing goes wrong, we will be done! I usually don't stick with that mindset for to long, but it still drives me crazy! I have always taken a bit of pride in my ability to stay strong when times get tough, but that doesn't always show right at that moment. I always figure, as long as we have a roof, clothes, heat and food, we are perfectly fine! Well, our roof has been leaking for a few years now, and soon, that'll be an issue. We save and save for a new roof, which is very expensive due to the height and shape of our very odd house, but we always end up having to use that money to pay for other emergencies. Someday, hopefully before the roof falls in, we will have the money for a new roof. i have had to borrow money before, and as much as I hate to pay interest or fees, sometimes, if it will get us out of a serious bind, and it'll be cheaper then all of the charges, fees, and problems that will come from not getting my husbands truck fixed, not fixing the chimney, and so on, it is worth it, at least to me. Borrowing does come with a price, and that may hurt, but which will hurt worse? The part where my husband can't work, and loses income due to a broke down truck? Or is it cheaper to pay interest on a loan? I have in the past had to ask myself that question, and I always end up answering with, it would be cheaper,to borrow. I just like to have resources set up, and whether it is a last resource, or a 2nd too last resource, it is still a resource, and is still one step from a nervous breakdown, and for that,I will pay the interest fees. **Please read our disclosure statement!!**

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