Tips for Managing a Financial Crunch

In the world of living paycheck to paycheck, unforeseen expenses create a very stressful situation. Whether the car breaks down, the water heater blows a leak or your dog needs emergency surgery from eating the hallway rug, finding a way to get out of the red gets harder every day.

If you don't have an emergency savings account, the alternatives of how to pay for these situations are limited. If you have a credit card and are already making payments, you know how long it takes to pay back credit debt even if you have a low interest rate. A larger balance creates a bigger monthly payment. If you're already struggling to make the minimum payment, the debt will continue to grow with no end in sight.

Here are a few options for you to pay for emergencies and to make solid but simple changes in how you manage your finances:

* Credit counseling -- Talk with a financial advisor for help in creating a budget. Looking at how you spend money is a good eye-opener. They will help you see what percentage of your income you spend liberally and how you really should be spending. Saving $30 to $50 per month that you spend eating out can easily build an emergency savings account.

* Debt settlement, consolidation and negotiation services -- Contact a debt consolidation company to learn more about how to manage credit card companies and debt. Consolidating credit debt for a lower interest rate helps you pay them all off quickly. They can negotiate with credit card companies, where you alone might reach a dead end.

* Short-term Payday loan -- Get a cash advance quickly with a Payday loan. Complete the application and, once approved, your money can be automatically deposited into your account the next business day.There are no credit score checks. Payments are automatically debited from your account on your due date.

* Tax refund loan -- If you know you'll get a tax refund this year, get it faster than the government can get it to you. Tax refund loans are usually available within a few days, though you can get an immediate loan with the right lender. Contact your tax preparer, make sure you know the correct amount of your refund and watch for the right interest rate.

"It's important to develop a budget schedule and look at what percentage of your income you spend on living," says Jane Stanton, consultant at Fastwire Cash. "If the percentage you're paying for your rent, mortgage or car payment is too high for your income, consider a less expensive vehicle or getting a renter. In the meantime, a cash advance loan can help you stay away from further credit card debt."

The professional payday loan specialists provide one-on-one assistance for your payday advance and will be happy to answer any questions you may have via telephone or e-mail.

Fastwire Cash is a member of the Community Financial Services Association of America (CFSA) and of Financial Service Centers of America (FiSCA), a professional trade organization representing an industry of financial services providers in local communities across the country.

Source:http://www.auburnpub.com/articles/2008/01/07/ara/family/916.txt