Renewing Your Wardrobe Using Online Credit
Taking a payday loan to finance the purchase of a certain wardrobe item might be an emergency measure in most of the cases. Suppose an important unplanned event surprises you in the period between monthly salary payouts and you are already close to reaching the limit on your credit card. Everyone can quickly assemble a list of such possible events:
an important date:
- a relatively spontaneous outing with your work colleagues;
- an unexpected trip (be it a gift, or a spontaneous decision), with some hiking involved, for instance;
- a local sports adventure you get dragged into by your friends (with certain requirements for gear and clothes);
- a funeral – definitely the champion of unexpectedness and also an event with a rather uncompromising dressing code.
Microcredits To Save Money
As counterintuitive as it may sound, surprise events are not the only situation in which it might be worth taking a microcredit – sales are an equally valid argument. Of course, we are not talking about 10% or 20% discounts – you will never be able to take advantage from these with microcredits. The reason is that payday loans always come with significant charges, both in terms of interest and finance fees. That’s why it is essential that the discounts are really big in this case (50% or roughly equivalent) – there aren’t too many days like this during the year but Black Friday would definitely qualify. Alternatively, any of the individual stores you follow might have big anniversaries occasionally or other important promos which might come unexpectedly. If you know you’ll certainly purchase certain wardrobe items in the near future, with careful consideration, taking a short term loan (e.g. two weeks) can help you save some good money.
Exert Responsibility And Caution
Before applying for payday loan, you need to carefully consider your circumstances and do some basic calculations. If the only reason you borrow is because you do not have the money on hand and especially if you are doing this relatively often, you might be willing to consider a small bank loan with a relaxed repayment period, which would allow you to build some reserves and plan your long-term budget. Also, inform yourself very well about the conditions that accompany this particular credit – what is the APR, the finance fee, the payment dates, and very importantly, what would happen if one or two payment dates are missed (will you be able to cover the extra fees in this case, considering your monthly expenses).