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These are tough economic times for many people. Many companies are downsizing or laying people off. On top of that, everything is getting more expensive. What do you do when you get behind and there is no money tree?
Times are tough and many families do not have a safety net.



In a perfect world everyone would have money saved for emergencies. The reality is that many families do not. Now add to that the fact that many families have lost jobs or have been laid off. This means that whatever savings they had is already being used to pay bills.

Now is the time to simplify. Sit down with all of your bills and look at them realistically. Can you really afford them all? Do you really need them all? What can you downsize? Choose cheaper plans for things like phone and cable. It does not have to be forever, just until you get caught back up.

Spring is here so garage sales are starting. Get rid of some of the clutter and make money too. What else do you have in your house that is not needed? We recently sold our third vehicle. We could not drive them all at once and it just took up space in the driveway.

There are many ways to cut back so you can get caught up on bills but what happens when you are faced with an emergency? You get in an accident or your car breaks down. You need money for repairs and there is not any money left.

First look into quick ways to get money that do not incur interest. You do not want to end up further in debt trying to pay off interest. Are there family members that could help? Can you sell something? Maybe sell something to a family member with the intent of buying it back when you have the money. This is a nice way to get a loan with no interest.

Do you have an IRA? You are allowed to take out an IRA Loan from the money in your IRA once a year. It is tax free as long as you pay it back within 60 days. Make sure you do not take out more than you can pay back in 60 days. If you are not over 59 and do not pay back the loan on time you can end up paying up to 40% in taxes and penalties.

If you have gone through all the steps and still have no options you may be stuck taking out a payday loan. This should always be a last resort. Always try going to your boss and asking for an advance first.

Many people are faced with no other option when an emergency happens and they must do a payday loan. You should always go into it with open eyes. Read all of the fine print and really see what you are getting into. There are many companies out there and they vary greatly.

It can be very embarrassing to go into a cash advance business. It is a loan after all so there will be paper work and it could take a long time. One option is to do it online. You do still need to look into rates, flexibility, and if it is a reputable company.

Let's look at one such company. Payday One is an online payday loan company that is based in the United States. You are able to look at the terms and rates according to the state you live in. You are then able to look at a table that shows you how much you will have to pay back. Every state has different regulations so the terms can be very different from state to state.

An important feature to look for when choosing a company is how fast you have to pay it back and what happens to the interest the longer it takes you to pay it back. Many companies charge you huge fees and interest rates if you can not pay it back right away. Make sure you actually look at all of the fees and schedules before you do anything.