Tax time is here and for some lucky folks, that means a nice tax return! What can you do with a bit of extra cash? Here are the top 5 ways to use your tax refund and have some fun too!

1. Become an Angel Investor

You may not have huge loads of cash, like famous angel investors, but what you do have can help someone start a business. There are numerous sites that will help you fund social or business projects worldwide. Some sites, like Prosper.com, will allow you to lend your money to others for a specific purpose and then gain interest on that money. Other places, like Kiva.org, aren’t commercially oriented to provide a large return in interest, but they will make you feel good for helping a worthy cause.

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Do you want to get a second payday loan? There are individuals out there that would love to have a second payday loan, even while they are still paying off the first.  This is usually due to a stressful situation. This type of person is in a debt cycle.  This cycle is usually where they are living pay check to pay check without being able to pay down their debts, and worse, they usually continue to add to those debts.  They may have five credit cards that are all maxed out, a mortgage, second mortgage, car loans, and student loans.  They may even have medical bills that are piling up and in comes a car repair bill.  We could outline just about any type of situation as to why one might want a second payday loan, but instead we will look at whether or not you can get a second payday loan.

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Have you found that you have so little money you don’t think you will be eligible for a cash advance or payday loan?  If this sounds like your life right now you should know that there are companies out there that can help you even though you may think your situation is dire.  It can be relatively easy to get a cash advance or even a payday loan if you meet a few qualifications.  If you are a first time customer you may be able to find a payday loan company that will loan you the money without paying anything extra.

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Times are tough in many communities and citizens are finding it difficult to make ends meet. When this situation occurs, it is often important that they stay away from heavy credit card usage, but sometimes, that action is unavoidable. Taking a second job or clamping down on budgeting is almost always a better answer. As we progress with our lives, we sometimes find it necessary to buy things and when we do not have the money in our bank accounts, we must turn to credit. In many cases, recently unemployed individuals are forced to live on a credit card, which can be stressful if we do not have the capacity to make more than the minimum payments each and every month.

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The economy is slowly recovering from one of the worst recessions we have seen in decades. As it starts to recover, people will also begin to make more purchases to boost it. This consumer spending puts money back into the economy and creates demand that leads to new jobs. It is a cycle that keeps our country afloat. When we started this horrible recession, the Government decided that banking was somewhat at fault for the problems we were experiencing and decided that credit card spending and bank fees for certain services were out-of-line and needed to be changed. So, starting on July 1st, banks can no longer charge overdraft fees to those who have exceeded their balances. This will severely limit the amount of money a bank can make on its customers. Many people do not realize that a bank makes a great deal of money on overdrafts fees as many people use their debit cards and go over their limits.

Bank of America has decided to implement this change right now rather than wait. Rather than allow their customers to go over limit, Bank of America will now stop purchases if they exceed the balance in their account. Many people do this unknowingly as they are not aware of certain transactions taking place on their account and with current salaries at a low, many are purchasing items dangerously close to the bottom of these accounts. With current trends, the banks stand to lose millions of dollars in revenue from fees as well as purchases.

As of July, banks will have to get the consent of their customers to charge any overdraft fees and Bank of America is well aware that it would be an uphill battle and that their customers will not sign these types of guidelines. Rather than fight it, Bank of America has decided to institute the new laws now to possibly keep customers and show that they are not predatory like the Government seems to portray than as in the media. Many of the larger banks will fall in line with Bank of America as they all scramble to find new and inventive ways to charge fees. It is likely that fees for checking account maintenance will go up as well as yearly fees on credit cards, which is already occurring across the board.

Whether you had hit a rough patch in your life, or you just have a bad habit for going on a spending spree from time to time, odds are the balances that exist on your credit cards have blossomed beyond what you can comfortably afford. While debt consolidation or a pay day loan may seem like the answer to your money woes, these options are only temporary solutions. Getting and staying out of debt can be quite difficult, if not nearly impossible. Between the physical and psychological toll it can take on your body and those around you it’s no wonder why so many people vow to never let themselves go into debt. Regardless of how you got there, here are some cost effective tips that can help you get out of debt and stay out once and for all. (more…)

Ever hear of the old parable of the frog who doesn’t know he’s boiling to death because the water only slowly increases in temperature and he doesn’t have the sense to jump out in time? That same analogy can apply to anyone who has suddenly realized that they may be in debt way over their head and it’s too late to cut back on their standard of living to fight off bankruptcy. In today’s aggressive financial climate, this sort of thing happens more and more. Current salaries are being decreased across the board while fees, interest rates on debt, and day-to-day expenses soar. It doesn’t necessarily take the loss of a job to get to the point where a medical emergency or family disaster pushes one overboard in an instant. That’s why consumers have to be really aware of when they are reaching that point of no return, and quickly reduce expenses before they can no longer recover the situation.

Here are some ways to tell when you might be getting into trouble in the near future: (more…)

Is each slot of your wallet filled with a credit card of some sort? Do you find yourself experiencing a euphoric feeling or “high” when you swipe your credit card at any type of store?  Is this feeling of euphoria followed by a low feeling shortly afterwards?  Do you find yourself making excuses for why you must have an item?  Are you the first one to the mailbox each day in hopes of getting the credit card bill before anyone else does?  If you answered yes to any of these questions or to all of these questions you may have an addiction. (more…)

Whether you have accumulated a large sum of credit card debt due to a job loss or a spending spree that got out of control, it can be quite difficult to break a habit that you have been accustomed to for so long. While most of us are raised to never carry a balance, and that we should pay them off in full every month, the lure of a new high priced electronics device or even the latest fashions have even the most budget savvy users using credit in times when they know that they should not. Just one purchase has a way of multiplying, and before you know it you have racked up so many charges that your monthly salary is not enough to cover them all. Combine this with an average credit card interest rate of 15% or more and even the smallest of balances can take you years to pay off if utilizing the minimum payment. While you may be feeling like you will be stuck in a credit card dungeon for the rest of your life, here are some simple tips that can help you keep your debt in check so you can finally dig yourself out of the hole that you have created. (more…)

In times of economic crisis, we may need to seek help from as many outlets as possible. Loans are available from banks with good credit and collateral to protect the bank from losses. As banks are out to make a profit, they must protect themselves from defaults by securing collateral to use if a borrower cannot pay their loan back. Payday loans are also a good choice as their credit requirements are not stringent like those of banks and these advances are available online for convenience. (more…)