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Cash Advance Lessons Can Help Teach Kids About Finances

Are online cash advance lenders a sign of the times? With the Internet making everything so fast and convenient, consumers can get access to fast cash to help through the tough economic times. Without looking at our current budgetary situation closely, we jump all to quickly to borrow. Focusing on the bad things that come our way financially, we may act hastily in an effort to take care of our expenses.

Amidst all the negativity however, we fail to recognize that something positive can come out of our current financial situation. Perhaps not everyone has realized this yet, but don’t you think this is the perfect time to teach our kids about money and ensure that they have a good future when it comes to dealing with their finances? The good thing about this is that in the process we are also helping ourselves avoid taking loans from cash advance lenders. After all, the best way to teach our kids is by setting an example and living up to what we teach them, right?

Should you educate your kids about cash advance lenders?

There are a lot of ways to teach kids about money and at the same time help ourselves avoid the need to borrow. One way is to teach them to save money by giving them a couple of jars where they can keep their coins and whatever extra money they have from their allowance. If you are one of those who are not fond of paying in cash, you can do the same with the loose change you get from the grocery store or the gas station. You would definitely be amazed at how much loose coins you have at the end of a week or a month and this can be savings that you can use for the rainy days then you do not have to take out online cash advance loans.

A friend taught her son to save money for toys and other stuff that the child wanted to have by giving him jars where he can put his money in. She cut out pictures of the toys and pasted them on the jars and told her son to save up money for the toys. Every week they make a ritual of counting the coins in the jars to see how much more he needs so he can buy the toy. Adults can do that too, if there is something they want to have in the future such as a new car, a house or new furniture.

This method of saving money, often referred to as the “envelope saving system,” is not a new technique at all. This has been used by a lot of people and you can do this too if you do not want to rely on cash advance lenders to lend you money every time there is something you want to buy for yourself or your family. Whether it is for a new car, a new home, or a dream vacation, you can use envelopes where you put the extra cash you have. You can check how much money you have put away on a regular basis and develop a record system that will allow you to see how much you still need to save to let you buy whatever it is you are saving for. The good thing about doing this is knowing that you have money set aside that you can divert towards solving an emergency financial crisis. This might derail your plans to buy the new car you have been saving for but it will keep you from taking cash advance loans from cash advance lenders who charge unbelievably high interest rates.

About Laura J Solomon

Writing lets me escape the real world and go places I would otherwise be able to do. While keeping readers informed, I too learn about the many things life has to offer.
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