Why $255 Payday Loans Online Same Day Would not Work…For Everybody
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작성자 Maurine 작성일23-03-05 20:31 조회35회 댓글0건본문
| Why $255 Payday Loans Online Same Day Would not Work…For Everybody | |||
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Smart Money Podcast: Coronavirus Edition Advertiser disclosure You're our first priority. Everytime. We believe everyone should be able to make sound financial decisions with confidence. Although our site doesn't include every business or financial product in the marketplace, we're proud that the advice we provide and the information we offer as well as the tools we design are impartial, independent, straightforward -- and completely free. So how do we make money? Our partners pay us. This can influence the products we review and write about (and the places they are featured on our website) However, it does not affect our recommendations or advice which are based on thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. . Smart Money Podcast: Coronavirus Edition By Liz Weston, CFP(r) Senior Writer | Personal finance, credit scores, economics Liz Weston, CFP(r), is a personal finance columnist co-host of"Smart Money," the "Smart Money" podcast, award-winning journalist and creator of five novels about financial matters, among them the bestseller "Your credit score." Liz has been featured on a variety of national radio and television programs such as the "Today" talk show "NBC The Nightly News,"" the "Dr. Phil" show, and "All things considered." Her columns are carried through The Associated Press and appear in hundreds of media outlets weekly. Prior to NerdWallet, she was a writer for MSN, Reuters, AARP The Magazine and the Los Angeles Times. She lives in Los Angeles with a husband, a daughter and a co-dependent golden retriever. And Sean Pyles Senior Writer | Personal finances, credit Sean Pyles leads podcasting at NerdWallet as the host and producer of NerdWallet's "Smart Money" podcast. The show "Smart Money," Sean talks with Nerds from the NerdWallet Content team to answer the questions of listeners about their personal finances. With a focus on thoughtful and practical advice on money, Sean provides real-world guidance to help people improve the financial situation of their lives. Beyond answering listeners' money questions on "Smart Money" Sean also interviews guests outside of NerdWallet and also creates special segments to explore topics like the racial wealth gap as well as how to get started investing, and the history for student loans. Before Sean took over podcasting at NerdWallet He also covered issues that dealt with consumer debt. His work has been published on USA Today, The New York Times and elsewhere. When when he's not writing about personal finance, Sean can be found digging around his garden, taking walks, or taking his dog for long walks. He lives within Ocean Shores, Washington. Mar 23 March 23, 2020 Written by Kathy Hinson Lead Assigning Editor Personal finance, credit scoring, debt and money management Kathy Hinson leads the core personal finance team at NerdWallet. In the past, she worked for 18 years with The Oregonian in Portland in capacities such as chief of the copy desk and team editor and designer. Previous experience included news and copy editing for several Southern California newspapers, including the Los Angeles Times. She earned a bachelor's degree in journalism and mass communications at The University of Iowa. The majority or all of the items featured on this page are provided by our partners who pay us. This influences which products we write about and where and how the product is featured on the page. However, this doesn't affect our assessments. Our opinions are our own. Here's a list of and . The NerdWallet Smart Money podcast, where we address your real-world money concerns in 15 minutes or less. This week's topic is the coronavirus outbreak and how you can prepare financially in case of a fallout. Find out where every dollar goes Discover ways of spending more on the things that you truly love and spend less on things you don't. Our take The financial consequences associated with the new coronavirus and the COVID-19 disease that can cause will be devastating, with lots of individuals losing their jobs or having their hours cut as economies slow. It may be too late to scratch together a three-month emergency fund, but it would be sensible to cut down on spending whenever possible, and to save an amount of cash to allow yourself a modest buffer. The ability to access credit can be helpful during a situation of crisis. If you have a good credit score, you may be able to open a credit card that has a zero-interest teaser rate. For those who do not have good credit may be tempted to take out payday loans, but those could be extremely costly. Instead, look for . Think about other community resources, for instance, The Jewish Free Loan Association. If you can't pay all your bills, make sure to prioritize the essentials such as shelter as well as food, utilities and transportation. Check with your lender to determine if hardship programs might be available. The economic crisis has also been a major influence on the market for stocks and has caused extreme swings due to the uncertainty in the economy. If you're 10 years or more away from the money you have invested -- for instance, if retirement is more than 10 years away in the case of a hypothetical example, you could treat the fluctuations in the background as a sound. If you're getting closer to retirement or already in retirement or near retirement, you could . This is the perfect time to talk to an independent, fee-only financial planner for an additional opinion on whether your retirement plan and investment allocation remain sensible. Of course, everyone's traveling plans are disrupted. often doesn't cover this type of disruption, but . Our tips Make sure you focus on what you are able to control, not on what you aren't able to control. It is important to be up-to-date, but don't consume too much news that is negative. Try to limit your time on watching news updates. Prioritize your bills. If you can't pay all your bills pay for the most important things expenses like food, shelter, utilities, transportation. Invest for the long term. The market will slow down and eventually recover. If your goal for your investments is more than 10 years into the future, then you are able to put aside the fluctuations of the day to day. More information about coronavirus is available on NerdWallet: Have a money question? Text us or call our number at 901-730-6373. You can also email us at . To hear the previous episodes, go to the Episode transcript Sean Pyles: Hello and welcome on the Smart Money Podcast We will answer your questions about money in just 15 mins or less. I'm Sean Pyles. Liz Weston: And I'm Liz Weston. Be sure to contact us with any questions regarding your money. Call or text us at (901) 730-6373. That's (901) 730-NERD. You can also email us at Sean: This episode, we're taking on a topic which we've had a lot of questions on in the last couple of weeks: coronavirus and the best way to prepare financially for its. The effects of the novel coronavirus and the COVID-19 disease which it causes are being felt throughout the economy. Many employees are seeing their hours cut or are being dismissed. The stock market is having an emotional moment and people are trying determine how to prepare for the worst, and that could mean bolstering your finances , and for some people doubling the amount of toilet paper in your home. Liz: Sean, you claimed that you thought it was an absurdity, but you realized it's not. Sean: I went to the store last night and all the shelves had been empty. Liz: Yeah. Sean Says: I'm happy that I have one of the Amazon subscriptions that I just purchase every month because I would be there grabbing napkins. I don't know. But it's definitely serious. There are a lot of people very anxious and lots of people are going to be in a pretty difficult financial situation. Liz Then in this episode of the NerdWallet Smart Money Show, we're going to discuss ways to prepare your financial and mental health, what to do if you can't pay your bills and why this is a great time to practice patience when it comes to investing. Sean"Sean": Okay Let's get started. Liz: Okay, let's start with the mental preparation part because I think this is taking a toll on people in ways maybe they didn't expect. Sean: Yeah. Liz: So Sean What's happening about you? Sean Says: I'm sure I'll slide into a news hole when this occurs. It's just looking at Twitter and listening to radio and getting completely caught up in the moment-to-moment news which to me causes me to feel nervous. I think I try to do this in order to get back some sense that I'm in control. But I'm just hearing about things that I can't actually control. And I'm sure many people feel similarly anxious since it's a very serious situation and there's a ton of uncertainty. Therefore, one thing I think would be good just mentally is for people to recognize their stress and not dwell on the things they aren't able to control. Instead, concentrate on the things you can manage, such as how often you're washing your hands or the type of news that you're watching and the pace of the news you consume. Liz: I think putting certain limits on this is very smart. It's true that you need to be a prepared citizen, you want to be aware of what's going on, but I think there's a tipping point where it's just too much. Sean: Yeah I really like doing things that cause me to appear to have some form of self-control. This is one of them. I have deleted Twitter off my phone and I put on an extension to my web browser that makes it possible to only view it for five minutes a day. This way, when I feel the need to check out something that interests me, I'll go to an information site and not just falling down the stream of people screaming into the void. Find a method to ensure that you're able to control what you're watching because it's really easy to get very worked up about this kind of stuff. Liz: Yeah, absolutely. Sean: I think that's good mentally, but there are many ways you can take financially to prepare for a hardship like this. Liz The other day I was thinking about the feeling of entering a grocery store only to find that the shelves are empty and you realize, oops, it's a little late to prepare now. Sean: Mm-hmm. Liz The answer is that there's a limited amount you can do. If, for example, you've been living paycheck-to-paycheck pay and then you've got fired, I'll advise you to keep an emergency fund of three months and you'll be like, "Well, that was extremely helpful." So obviously, in the event that you do have a job and you are still working, you need to be mindful regarding spending. However, you might want to put a little more money aside. We at NerdWallet have never been big in putting your emergency fund first, as there are plenty of other financial considerations that have to take place that are more important in the long run. But we do want you to have some sort of emergency fund, be it $750, $1000, or anything to get you free from the paycheck to paycheck trap that it's extremely easy to fall into. If you've got it you're doing congratulations. If you're in the position that this might be way too late, then we have some other suggestions for you. Sean: That's one thing that I thought about too. Most people are living paycheck to paycheck. They don't have an emergency savings account and now is really -- especially when your hours are reduced this is the time you would want to tap this. One thing I'm thinking about right now is that I'm aware that a lot of folks are likely to use their credit cards. in the event that you don't have savings I believe that this could be the perfect time to take advantage of a 0% APR credit card that would potentially provide a cash-flow buffer for the short term. Now, we don't typically advise going into debt, but if you need a bridge to cover the cost of your current expenses, this could be an alternative. Be sure to make all of your payments punctually to ensure that your credit is steady and that you strategy to pay off the debt before the 0 APR period is over. Because all of these cards, your APR period typically ranges between 12 and 15 months , and after that interest rates can rise to 15% or even higher. So just be really aware of this. Liz Liz: There are other alternatives to payday loans. So if you search on payday loan alternatives, some of these will show up and are similar to charitable organizations. I know the Jewish [Free Loan Association] is in the public domain telling people, "Hey, we've got money for people." There are grants for short-term projects that are a possibility. The food bank is a possibility. People are trying to help in various ways. Therefore, there are alternatives to the payday loan. Payday loans are a real frightening option. Sean: Right. Liz The borrower is a woman. money and they get stuck in a trap in which they cannot pay it on time when payday rolls around and they end up owing, owing, in debt, and aren't capable of regaining their feet. If you're considering one of these loans take a look at alternatives. Sean: Now is a really good moment to check out your community to see the resources available. This is when the majority of these organizations as well as local groups for community are kicking into high gear since they've been preparing for. They're there to support you. However, the resources are limited and it's really hard when you do lose your job as the majority of people, especially in the service industry are experiencing right now. And maybe in the next few weeks, they'll be able to say, "Hey, I can't pay all of my bills at this moment." So I want to talk about this with you Liz as this is going to be a very difficult situation, and it's going to affect many people. Also, Liz I'm aware that you wrote an article entitled "How to pay your bills when you aren't able to pay your bills." So what do you think is the best advice for this? Liz Sheryl: You must be triage. That means that you must put the most important things first. That's the most important things. It's food, the shelter, the roof over your head, the lights and heat, transport, if you need to get to work or you need to go to the doctor or whatever it is. That's the basic things you need to safeguard regardless of what. This is important to remind people of this because if they do fall in arrears with their bills, collectors start calling and they are in a panic, and they will pay the person who is the most nastiest. You must put your family, and yourself first and take care of the most important things. After that, make a second round of triage for the remainder of your charges. Which ones carry the most consequences for not paying? Which ones have some leeway? Students loans like student loans generally have a deferral or forbearance that allows you to avoid not paying for a while. The lenders are generally a lot more responsive in bad times to letting people switch payment plans, or put off a payment or something similar to that However, you have to remain in contact with them, you need to be talking with them. If you just put off paying, you might have missed out on some kind of program that could help you, and could hurt your credit for no good reason. Sean: Yeah, this is one of those things which you need to complete the work before the due date. But one thing that I've been pleasantly surprised to observe in the last week is that a lot of the creditors are making plans to get ahead of this and are declaring, "Hey, we realize that things aren't easy at the moment. If you're unable to pay your bills, give us a call." However, you must make that call. Liz: Yes, absolutely. We talk in another podcast about the best way to pay the IRS in the event that you're unable to pay the IRS. This is the second thing that's coming out that people are grappling with. If you're facing a tax bill that isn't paying, yet you have options to pay Don't be shy from looking for them, but they could be a huge aid you. Sean He wants their money and they want to be able to collaborate with you and build a good connection with your. This means that you must be proactive. Which is, perhaps not something you'd want doing when struggling with an illness and worry about contracting a terrible illness. It takes around 10 minutes. You can give them a phone call and attempt to figure this out because the one thing you do not would like to do is fall into default, which will ruin your credit score. This can make things more difficult in the future if you do need a new line of credit. Liz: Exactly. Sean: The other thing I'm interested in right now is people's investments. There's been plenty of anxiety around retirement accounts. We've seen the stock market really take a nosedive over the last couple of weeks. I'm wondering what you think people should look at this and what people should do if they're thinking about completely pulling out. Liz Tell me what's happening with the market? And the reason it's so volatile is that those who make the trades and the investors have a long-term view and are saying, "This is going to affect the economy, but we don't know exactly how much." And the stock market hates uncertainty , which is why it's bouncing everywhere. If you're not retiring today, then this is just an unintentional noise. What's happening from day and month-to-month, does not matter. What is important is what happens in the long run, the next 10 or 20 to 30 years. And we have an incredible capability as humans and as a nation in bouncing back. Therefore, I believe that in the long run, our chances are excellent, and I'm planning to remain invested and I'm going to try not to pay much attention to the noise. If you are about to retire, it's a different situation. Find an independent, fee-only, fiduciary certified financial planner. Get another pair of eyes look over your retirement plan to be sure it's still making sense. Sean Sean: Okay, well that's logical. This is one of those instances where you must be mindful of the food you consume so that you don't get into a tense condition that leads to pulling out your investments which could be detrimental to you twenty, 30 or more years down the line. Liz: Well, what we observed, and found very interesting was that a lot of people dived in the markets. We saw a lot of traffic coming to the site initially when the stock market went down the first time, and I would imagine there were a bunch of people on the sidelines going, "OK, here's my buying opportunity." Then the floor slid out of their feet and they're like, "Agghhhhh." This is a normal part of being an investor, it happens, and we've experienced bear markets before, and we've experienced major corrections prior to that. The market does bounce back. For those who are in the midst of a slump, it's like, you're not going to be able to stop it prior to it starts to rise, and when the market is able to rebound, it tends to do extremely fast, which means you'll be missing the majority profits. Every financial expert who's worth their salt is advising you to stick with the plan, establish an asset allocation plan, keep your investments going and not take a look. Sean You can turn off the television and instead read the book. Liz: Exactly. Sean: Pop some popcorn. Okay, good. One last thing I wanted to mention is travel plans. A lot of folks do not want to travel right now however, they may have plans in place to travel for a trip to Machu Picchu or who knows where. But the positive side is that a lot of airlines are actually making arrangements and are not charging cancellation fees, but the rules are changing every day it seems. So we actually have a link on our show notes post at nerdwallet.com/podcast to an article that is just regularly updated with different airlines' cancellation policies. So if you've got travel coming up, make sure to check it out and make sure that you're taking a proactive approach to managing any plans you may have in the near future. Liz: I've been kind of amazed, in fact, because we've been living with these horrendous changes fees, non-refundable deposits and finger shaking, and to see all these travel agencies acknowledge reality is astonishing and it's kind of like, hey, at least they're doing that. Sean The Sean. I'm thinking that's the only thing we can do. For folks that are getting concerned, or feeling a bit uncertain about their finances be assured that you're not alone. However, take note of some actions you can take to make this tough moment a bit more manageable. Let's look at our tips for success. First up, focus on what you are able to manage, not on what you can't. Second, if you can't pay your bills on time, focus on paying the necessities such as food, shelter, utilities, transportation. Also, during major market swings like we're seeing at present, think about the long term and ignore the swings that occur day-to-day. And that is all we have to offer in this episode. Are you having a question about money of your own? Ask the nerds. send us a text message or call in to (901) 730-6373 which is (901) 730-NERD. You can also email us at nerdwallet@gmail.com for more details on this episode and remember to rate, subscribe and review us whenever you're listening to this podcast. Liz Here's our brief disclaimer that was thoughtfully written by NerdWallet's legal team. Questions are answered by knowledgeable and talented writers in the field of finance, but we are not financial and investment advisers. The information provided is to general education and entertainment reasons and may not be applicable to your particular situation. Sean Says: With that said, until next time, turn to the Nerds. The authors' bios: Liz Weston is a columnist at NerdWallet. She is certified as a financial planner and author of five money books including "Your Credit Score." Sean Pyles is the executive producer and host of NerdWallet's Smart Money podcast. His work has been published on The New York Times, USA Today and elsewhere. In a similar vein... 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