Are Payday Loans A Good Idea?

I don’t need to make a 18 minute video telling you why its not a good thing for you to borrow money from your own paycheck before you even get it. Its like living paycheck to paycheck but negative.

So in this video, I’ll tell you the basics of why payday loans suck and then I’ll tell you a solution to get your finances in order ( or atleast get started )

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Pay day Loan apps

Earning and Dave

These are two very popular apps and if you go on the websites

It almost feels like these people are here to help you

The Words they use:

Access to cash within minutes

No gotcha fees or interest chargers

Its easy no credit checks

You only need to tip

It almost makes it feel like wow that’s awesome.

But this is terrible because whether you are paying a lot of fees or just a few dollars in tips ( its not a good money habit )

Most pay day loans will come fees and if you find one that’s costing you nothing, then the fee is what its doing to you

First off

Get a budget and get your finances in order

Here a simple budget that doesn’t requiere spread sheet or you tracking what you spend

First: Set your baseline Busget ( its what you need to live )

Second: what your Left over Income ( split it into Fun, Debt, and Emergency )

Third: Do this first, save $500 in cash, then taking 1-10% for fun and use the rest to pay off debt )

Tip: obviosuly when you do the budget, you have to cut all things you don’t need

Ps. I also have vids on the best way to pay off your credit card debt and so on

That’s it

Told you we don’t need 18m to break this down

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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