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Although it may sound like a stretch to discuss giving gifts and payday loan debt in the same sentence, the two can be very closely related. Birthdays and holidays can be a huge financial drain on resources during some of the most crucial parts of the year. Right when the weather becomes cold and unforgiving, many people try to buy expensive gifts for friends and family. Doing so can put a huge strain on finances and lead to short-term loans that end up lasting a long time and hurting credit drastically. Here are a few tips to avoid incurring payday loan debt while you still give gifts.
Creativity is Key
If you are already struggling from payday loan debt, you should consolidate payday loans and control spending as soon as possible. Part of controlling spending is to be more conservative with giving gifts so that you can save more money for things that you really need. Still, you want to make sure that you do not give poor gifts to your friends and family just because you are trying to save money.
Get creative when you are getting gifts for friends and family and your budget will thank you tremendously. Arts and crafts are one good way to make gifts for your special loved ones so that you can show them that you care without spending too much money.
Honesty can Do Wonders
It is embarrassing to admit our problems sometimes, but with our future in mind it is often best to swallow our pride and do the right thing. In some cases that means swallowing pride and telling friends and family that money is tight and gifts might be less than expected. If they are true friends they will understand your payday loan debt situation and forgive you.
Being able to say no to certain expenditures is a key part of getting finances in order again. While gifts are always nice, they are extraneous expenditures that you and your family do not need in order to survive. For this reason it is best to be with your friends and family.
Consolidating Payday Loan Debt is Most Important
At the end of the day, consolidating payday loan debt is the most important thing that you can do for you and your family. Your future is at stake and there is no reason to put it at jeopardy for a few gifts. Your friends will certainly understand when you explain the situation and make it clear to them that you are trying to better your own life. Use some creativity and you will still be able to give nice gifts to friends and family while you are trying to save money and gain your freedom from payday loans and higher payday loan debt.
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Good article David, I think we are all in that boat at the minute. Knowing how to still celebrate a special event without bursting the bank is a must and it takes common sense.
Thats very true and I am even guilty of wanting to do as much as I can for a loved one but hey have to be smart about things too. Thank you for commenting on my article. I do appreciate it.
True! Good points. Gifts are better when they're fitting the giver and receiver. People who garden can give unprocessed foods as gifts that can change the lives of the receivers. Indeed - "Happy Birthday!" can be multiple times in advance with hand crafted notes... wedding gifts can be delayed or be help moving, and a coupon "Award" for future your-skills-gifts can be tucked in hand made cards. Folks who are blessed with the ability to cook can use inexpensive ingredients that turn into wonders. Besides, friends and family who do have money may prefer to know and either put gifts on hold -- or gift money for paying towards your loans and ask their gifts be from your special talents that would make a huge difference in their lives.
Outstanding point Cynthia! Thank you for taking the time to read and comment on my article.
Thanks David. Good job with this article. Hopefully your article can be found by people thinking about payday loan debt! Consolidating payday loan debt may be useful - indeed is useful! But skipping payday loans entirely by tips like yours seems a lot more fun than needing to consolidate payday loan debt!
Your right, but unfortunately there are millions of desperate people who live pay check to pay check who get caught up in these and have no way out. Its sad I get so many people coming to us who had no idea a service like this existed for these types of loans. I am just happy we can help these folks get back on track and eliminate these high interest loans. Thanks again!
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