Getting Out of Debt
Sometimes a payday loan is not the best solution...
When you find yourself depending on payday loans for a few months in a row, a payday advance may not be the best answer to your needs. At PaydayBank, we want to help you control your cash flows, but we certainly don't need you to depend on us for you finances. We encourage you to ask yourself, if a getting a payday advance is a part monthly financial planning? Or is it used as an emergency, one off, solution? The best solution is to start saving: Test one tip a week and you'll be astonished to see how much you save.
| Our tips for saving | Estimated Savings (per month) | |
|---|---|---|
| 1. | Don't eat out at work (saving an estimated £2/day) |
£40 |
| 2. | Practice smart shopping, use discount and catalogue coupons | £25 |
| 3. | Dine out two times less per month | £20 |
| 4. | Substitute regular instant coffee for starbucks or cappuccino. | £15 |
| 5. | Prevent your cheques from bouncing and incurring fees | £20 |
| 6. | Pay your bills when necessary to avoid penalties | £20 |
| 7. | Save £2 per day by keeping your change all in one place | £15 |
| 8. | Reduce flavoured drinks by 2-3 cans and bottles a week. (It's not good for you health either) | £4 |
| 9. | Find the cheapest petrol in your area (save est. £.1 per liter) |
£5 |
| 10. | Use your landline for most calls. Choose the most appropriate plan | £5 |
Try to negotiate with the people you owe. Sometimes asking to lower your interest rate really works! People with loaded bank accounts are not afraid to ask - why should'nt you? You can try to ask for a little more time to settle your debts as well.
Call the Consumer Credit Counseling Service or CCCS - a charity organization which provides confidential, free counseling and assistance to financially troubled individuals. Proceed to www.cccs.co.uk for more information.
Apply for a loan from your bank
Its always a good idea to take out a longer term loan to consolidate your other, higher interest loans and to pay off your other debts - make a clean start
At PaydayBank, we're doing all we can to help you cope with your financial stress. Make us your first choice when you need a fast cash loan.
Debt Management Done Right
If you are serious about getting out of debt and seek professional advice - sign up to a debt management plan that will solve your debt problems through the help of debt management experts.
