Unless you are part of the population who are filthy rich, the 2008 economic crisis probably resonated loudly and affected you in more ways than one. A staggering 25% of Americans have no savings at all, and about 40% have not saved up for their retirement. If you are one of those who struggle daily to make both ends meet, you are probably wondering if there is a way to solve your problems. The answer to your burning question is, yes, you can apply for an online payday loan.
What is an Online Payday Loan?
Ordinary netizens have most likely seen ads about online payday loans while surfing the web. Before the turn of the 20th century, there were only a dozen or so payday loan lenders. In the recent years however, due to the challenging economic climate, they have mushroomed all over the place. Payday loans are small, short-term loans which usually fall due on the next payday, thus the nomenclature. Those offered online are naturally called online payday loans. A debtor writes a post-dated check to a lender in the amount borrowed plus an agreed upon interest, which is the lender’s profit from the transaction. It is sometimes called a cash advance loan or check advance loan.
Advantages of Payday Loans
Payday loans are quick and easy to secure. Online loans are doubly easier to get, most lenders brag that you can get the money in just a matter of minutes. The business is so competitive that lenders are bending over backwards to attract more clients. Thus, there are no complicated requirements to submit before you can get a loan. With online loans, you just fill-up an application form, click send and you can get an answer in a matter of minutes. If approved, the money will show up in your bank account a few minutes after. It is this ease in approval that makes them very popular.
They are also very convenient. All you need is an internet connection, and with a few strokes in the keyboard, you get the money that you need without ever leaving your home or office. You do not go through the hassle of making an appointment with the loan officer or the indignity of begging for dollars or cents. And if by the time the due date comes around and you still have no money to repay the loan, you can always apply for an extension.
Those who have been denied by conventional financing institutions can turn to these payday lenders. Almost anyone can get a payday loan as there is no extensive credit check done on potential borrowers. All that payday lenders care about is that you have the ability to pay the loan, that is, you have a job that can pay the debt. Your credit history is irrelevant to them. They are focused on the here and now, thus, people looking for a way to start over can avail of these loans.
Disadvantages of Payday Loans
Payday loans have been vilified and have been often times been called legalized loansharking. This is mainly because of the high interest rates charged by the lenders. Some have reported APRs (annual percentage return) of over 500%. Nonetheless, it should be remembered that payday loans are strictly short-term while APRs are computed on a per year basis. The comparison therefore, is not apropos.
Payday loans are short-term, running between two to four weeks per cycle. This makes it difficult for most borrowers to repay the amount when it falls due. They are compared to bank loans, where the term would usually run from several months to years. Again, it should be remembered that payday loans cater to a significantly different kind of market which requires a different kind of approach. Whether short-term or long-term, a loan that is managed properly can go a long way in alleviating the needs of the borrower.
Finally, people object to payday loans because it is highly addictive. They are easy to secure, can be rolled-over several times and so convenient that it is easy to get hooked on the cycle. This argument flies in the face of the fact that not all people who get a payday loan become addicted to it. Those who are fiscally responsible are able to maximize the benefits without drowning in debt.
You Can Make Payday Loans Work For You
In the past, payday loans went unregulated by the government. This resulted in the abuse of the system. Nowadays, the government is more aware of the problem and have taken steps to prevent its recurrence. They understand the role of payday loans in the economy and have compromised by putting stricter measures in place to protect the consumers. Whereas before consumers were exploited, the law has empowered them and put them in control.
With this in mind, a wise consumer can make payday loans work for him. We have all been there, living from paycheck to paycheck. When an emergency strikes, like a trip to the hospital when you have no medical insurance, a payday loan can bridge the gap between paydays. Or you may need to make immediate repairs to your car but your salary is still a few days away. In the meantime, without a means of transportation, you might have to walk to work. You need the car to earn money. Payday loan can start your engine until you get your next payslip. Or you may have spotted the sofa that you have been salivating for quite some time go on sale and your bank account is drained. It’s 50% off, but you still can’t afford it right now. A payday loan can get you that discounted sofa.
If you weigh the pros and cons of an online payday loan, you will find that the benefits far outweigh the disadvantages. It is not getting in bed with the devil. Rather, if you learn when and how to use it wisely, you can successfully leverage it so that you avoid the so-called debt traps and instead use it to expand your budget.
Lace up ankle boots are short boots that come up to the ankle or lower leg. These boots first appeared a few decades ago as cost efficient boot styles for men, but in the recent past, these boot have gained popularity among women as well. In point of fact, lace-up ankle boots were the earliest shoes for women, as a modest woman would never show her ankles in public setting. During those times, the ladies fastened their lace-up ankle boots with a button-hook, which they wore under long, flouncy skirts or dresses with utter discretion . Fast forward to the current era, all that has changed, ladies can now wear the ankle boots with whatever they please. What has not changed is that to date, the lace up ankle boots are still fashionable and adds a more casual trendy groom to an outfit.
Lace Up Ankle Boots Advantages
They cost much less than their taller counterparts: While some may argue that they are relatively cheap because they use less leather or other materials in their manufacture, this is not always the case. The cost of these boots largely depends on their quality.
Lace Up Ankle Boots can blend well with various kind attires to give you a different appearance each time you wear them. For instance, when worn with pants or jeans, you get the appearance of tall ones, plus you got the advantage of no added bulk. Moreover, though tall boots are ideal for A-line skirts, flowing and dresses over skinny jeans, they can be quite uncomfortable to wear during the summer or warm weather. On the other hand lace up ankle boot, are comfortable to wear in any weather.
What Clothes To Wear With Lace Up Ankle Boots
Before deciding to wear or buy the lace up ankle boots, there are a number of things you need to know. First of all, though these ankle boots are currently fashionable, this won’t be always the case. In fact, a modest pair of these boots tends to go in and out of fashion quite fast. Secondly, as much as what we wear them with is a matter of our own unique style and fashion sense, these boots do not blend well with short skirts. For a much better look, try wearing them with a long skirt for a much better look but make sure you get it just right.
How Much Does Lace Up Ankle Boots Cost?
Some of us think that because lace up ankle boots are slighter than their longer counterparts, they should cost less. Just as mentioned earlier, this is not always the case. You can get a standard pair of suede for about $20 to $30. On the other hand if you want to buy a designer pair, you should be willing to spend more starting from $100 to over $1000. The bottom line is, the kinds of boots you choose is a matter of your taste, style and quality, because different kinds of boots blend well with different clothes and different situations.