Savings Account Payday Loans

These services evidence a poor economy because they represent a quick fix for everyday costs.

Savings Account Payday Loans And Their Economics

Savings account payday loans and the real world

I feel as if it would be a good idea to relate these lending services to current events. Money management goes hand in hand with world economic fluctuations, which of course are largely formed by things going on in the world. Generally, people tend to need savings account payday loans more when the job market is bad and the economy is not as prosperous.

Our economy took a huge dive in the fall of 2001 due to the terrorist attacks. Why? I'm not actually so sure. Is it because the World Trade Towers in New York were destroyed that our economy has been suffering? Did they do so much business there that we can't recover since they're gone? Or, is it representative of a fearful and untrusting public. Public fear often causes the market to take a dive because people don't like to invest there money when shaky events occur. Oil prices are even higher than ever right now because of the unstable situation in Iraq (one of the top oil producers) and because of the new terror alerts. People don't want to invest their money in crude oil when one large event could yank the carpet out from beneath them. Enter payday loans online. That's right, you don't even need a fax machine to get them - that's why they're called no fax payday loans!

Economic instability and borrowing

This is all good news for the short-term lending industry. Since this is not a long term investment, people are more likely to be trusting of it. With these services you apply for a loan one day, and have the money deposited into your account within hours. You are required to pay back the balance usually 2 weeks later. It is a very simple financial transaction. Therefore people are more inclined to get savings account payday loans, instead of the much more confusing and seemingly riskier stocks and other related options.

The economy also plays a huge role in politics. If America was more prosperous right now, Bush would not have any fight for the White House. However, since bad economies are directly tied to public unrest, the people are looking for someone new. The economy isn't so bad that people are kicking down the White House doors, but bad enough to give the challenger a fighting chance to beat the incumbent. It is also weakening the otherwise strong Republican working class base that would have normally gotten the incumbent re-elected. People want jobs, and they want someone who they think can it to them. Although savings account payday loans might help you out when in a bind, they cannot be relied upon. People want steady jobs and to know when and where there next paycheck is coming from. They want to invest there money and be sure that it will accumulate interest, even small amounts, over time. They are not truly happy with the quick fix but high interest savings account payday loans that will get them by in the short term, but not allow their nest egg to grow in the long run.

The increase of loan applications are one measure of economic instability - and indeed our personal economics are anything but stable these days. Stocks are volatile, pensions are going out the window, real estate is falling form the sky and job are everywhere if you are rise, white and live in South Florida. But for the rest of us we have to hunker down, count our pennies and realize that things might not get cheery for a while - now is not the time t be playing games with payday cash loans.

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