Staying off of The Paycheck Loan Wheel

Remaining off of the Paycheck Loan wheel usually requires some help. Initially, you may be unable to pay the outstanding balances on the paycheck loans. As suggested below contact the lender and discuss re-payment possibilities. It can be very helpful if you have a plan and even can make a payment, however small. If you do arrange a re-payment schedule be vigilant about sticking to this plan.

Now, as a student who works, you may still be borderline poverty stricken. You may not be aware that there are often sources of cash available on campus for students. Some colleges have emergency loans for registered students. Some departments have similar programs. At one campus locally these amount to $200.00 for part-time students and $400.00 for full time. Additionally, campus clubs and organization sometimes have a few bucks available for members. These funds are almost always loans. So, once again remember these loans have to be paid back.

There is more. Staying off The Paycheck Loan Wheel takes maintenance. This maintenance includes diligence and support. Clearly as a student you are almost always in need of money.
If you have survived The Paycheck Loan Wheel you have paid for an expensive lesson in personal finance. Recognizing this can assist you in developing an awareness of your spending habits. Since money management has now become a priority some assistance might be useful.

Locally, maybe even on your campus, there are groups and sometimes even individuals who can offer help to students with money management. Sometimes this help is a support group. Sometimes this help is counseling. Maybe even a friendly talk with someone on campus, a finance instructor, a financial aid worker, someone you know in the Bursur's office, could provide clarity.

Just to review; avoid any further short term debt. Arrange a realistic payment schedule for that debt which you have. Explore campus sources for short term cash help. Survey the campus community for individual or group financial management support. This help could be a class, a group or individual counseling.

And one final Planet College Tip. When ever you get any money, paycheck, gift, tip, grant, loan or whatever put some portion of it into your own personal savings account. No matter what and no matter how small, even if it is only a dollar, whenever you get any income at all put something into a savings account. This simple habit will definitely help your own money security factor.

That's it. Get off the Paycheck loan wheel through a doable re-payment plan. Stay off the Paycheck Loan wheel by getting help. Finally, Whenever you get any money at all put some in a savings account.

You know how hard you work. So you know how hard money is to get. Now you know money is even harder to keep than it is to get.