Regardless of how you feel about the country every other day of the year, when the Fourth of July rolls around — even if it happens to fall mid-week —you’re ready to bleed red, white, and blue. That’s why it was easy to get caught up in the nation-wide festivities this year. Between all the fixings for the family BBQ and your neighborhood’s explosive pyrotechnic display,it was more than just a date that marks the country’s day of independence from the British. This Fourth of July was a day of liberation for the money in your pocket.
Those hot dogs and burgers for the grill added up, as did the sparklers, fireworks, and stars-and-stripes decorations. Before you knew it, your Fourth of July turned into an expensive birthday party for the nation, and your plans wiped-out the extra savings you managed to put aside for a rainy day.
By definition, a rainy day fund is meant to help you make ends meet when unexpected expenses test your finances or when your regular income is disrupted thanks to un-paid sick days, lay-offs, or unemployment. When you use this fund to pay for your Fourth of July party, you can put your ability to cover the unexpected at risk.
In a perfect world, you won’t have to take time off work to beat a bad virus in the middle of the summer, nor would you have to pay for a necessary household repair. But we live in a world where the POTUS tweets about covfefe and Sense 8 gets cancelled. Sometimes, the things youwant least to happen actually do.
When you find yourself with a small paycheck after an illness but no rainy day fund to pick up the slack, consider a payday loan as a solution to your cash shortage. Ranging between $200 and $1,000, they’re relatively small cash advances that cover minor and non-recurring pay disruptions or bills. Compared to traditional lenders, they are issued and repaid at a faster rate, which means you usually have to repay it by the date of your next paycheck.
That’s not always the case if you speak with the loan specialists at MoneyKey. They’re licensed to offer different financial products depending on the state you live in, and each of these loans has different repayment terms, as well as rates and conditions. Check out MoneyKey.com to see if you qualify for a payday loan, an installment loan, or a personal line of credit so you know what kind of terms you can expect.
Though you try to be good and stay on budget most of the year special occasions like Independence Day can test your ability to save. If you spent a little too much on this year’s festivities, don’t panic in the face of your next bill. Find a fast-acting financial product that works for you, and you’ll be able to survive your Fourth of July SNAFU.