Payday Loan: Pay It Off By Holding A Garage Sale

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There are so many reasons of why you might need a payday loan. Your car broke down and you had no choice but to have it repaired immediately, otherwise you would not be able to report for work.

You just paid the rent, the utilities bill, your child’s dental checkup and you just have enough to buy food that will last until the next payday. When you woke up this morning, you found out that your drain is busted and you need to call a plumber to fix the problem. That means digging into the money you earmarked for the groceries tomorrow. To make matters worse, you remember that your payday loan is due by the end of the week. How are you going to pay off the loan?

This scenario is fast becoming very common in American homes today. With the economy not showing any signs of health, more and more American families are finding it difficult to make ends meet. Most of them resort to taking out a low-cost payday loan to survive the economy because this type of loan is the easiest and fastest way to have money when they are unable to stretch their paychecks.

To pay the loan, most American families think that they have two options: they can either ask the payday loan lender to extend their loan or they can take out another low-cost payday loan to pay off the first loan as well as the interest. What they failed to consider is that there is a third option that they can take under the circumstance. This third option is to find ways to raise money to pay off their loan. If you are in the same situation right now, there are a lot of ways to do this and one example is through a garage sale.

A garage sale is a great way to rake in some cash, and if you are very lucky you might even rake in more money than you hoped for to pay off the loan. You might even have a few dollars left that you can set aside for emergencies so that you will never have to borrow from a payday loan lender again.

The first thing you have to do is sort through the things you have at home and set aside those that you no longer use for your garage sale. If you do not have much, you can go around and ask for unused items from your friends and family.

Once you have all the items you need for your garage sale, you can advertise about your sale. You can enlist the help of your kids in making posters that you can post in strategic places around the community. You can also utilize your social media account to let your friends know about the incoming garage sale. You have to make sure that before the date of your garage sale, all items have price tags to make it easy for your customers to see how much you are asking for an item they like.

On the day of your garage sale, do not forget to have a little fun. Stop thinking about how much money you have raised and whether it is enough to pay off your loan and still give you a little extra cash to save up for the rainy day.

You can always hold another garage sale if the money you gathered from your items is not enough to cover your payment. The most important thing is that you have started to raise funds to rediscover financial freedom from your payday loan.

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