There are many reasons why you’d want a flexible check book. Think of it in terms of the body. Supple muscles, tendons, and ligaments make it possible to stand, lift, or walk whenever it’s necessary — giving you the support your body needs in order to move throughout the day. Elastic finances provide you with the means to make purchases and pay off bills that are essential to your well-being, giving you the ability to support your household.
Unlike Simon Biles, the gold medal gymnast, most of us aren’t very flexible. And just how we can’t reach past our toes, the vast majorities of Texans don’t have a lot of wiggle room in their finances. It’s something they share with the rest of the country. New reports on the state of the average American’s finances suggest very few are prepared to take on an unexpected bill costing them more than $500. Many people end up relying on credit cards, small dollar loans, and other financial products to help them cover these expenses.
While these services work for some people, they won’t work for everyone because, just like your hamstrings and finances, these products lack flexibility. A small dollar loan typically comes with a short term that demands repayment by your next paycheck. If you’re already using most of your pay to cover other essential needs, you might not have enough cash left over to pay back the cost of your essential loan.
This can lead people down what experts call a debt trap. When the rates, terms, and conditions of one loan are too strict, they roll-over on their payments and take out additional loans to pay off the first one, leaving them stuck in a lending cycle.
Luckily for those living in the state of Texas, there are alternative forms of assistance that don’t put such a burden on your budget. Reliable Credit Access Businesses (CABs) like MoneyKey operate within the state to facilitate responsible loans on behalf of their customers. While these products are typically the same size as short term loans, rarely exceeding $1,000, they break free from their restrictive payment schedules.
An installment loan through a CAB means you don’t have to repay the entirety of the cash back by the time of your next paycheck. As you can see at www.moneykey.com/flexpay-installment-loans-online.php, how often you pay will depend upon your profile. Depending on how you qualify, you can repay your loan in smaller chunks of a series of weeks or even months. These installment loans give you the flexibility to cover surprise expenses and its repayment on more forgiving terms.
It’s like getting the best of both worlds. So until you can reach your toes and put away significant cash into your savings, an installment loan from a CAB like the financiers at MoneyKey is the next best thing. You can’t always predict with any certainty when an unplanned bill, repair, or household purchase will come your way, but you can expect them to happen eventually. Having the name of a CAB as backup means you’re prepared for these emergencies regardless of the state of your finances.