Friday, 24 May 2013

Gas Costs Are Stormy With Issac But Payday Loans Stay Calm

By Liam Wayne


Gas prices took their largest one day leap in one day. Relief is anticipated after Work Day. This was the biggest leap in 18 months. Labor Day was just that- work at the gas pump. Pay-day loans stayed steady, though.

Hurricane Isaac played chaos over the Gulf Coast and the gas pumps. Higher gas costs have hit the people who reside in Louisiana, Mississippi, Illinois, Indiana and Ohio. The national typical price for a gallon of gas jumped 5 cents in a single day. This trend of rising gas prices will create havoc to our paychecks. Five cents a gallon adds up fast and the price of gas is going higher as we talk.

Isaac is the name of the storm that shut down the refineries on the Gulf Coast. These refineries are losing about 1.3 million barrels a day. This loss of refining capacity has led to gas costs to raise more than 14 cents a gallon in the Midwestern states. Naturally, drivers were irritated and perplexed about the stretch in their paychecks to pay for gas. It is more expensive than $20 for only 5 gallons.

Gas costs are supposed to fall again after Labor Day but the entire force of Isaac isn't yet known. Pump prices were rising before Isaac hit and now the country is losing our gas supply due to the refinery shut downs. If gas prices rose 40 cents from July to Aug before the typhoon, then we are in for a disaster at the pump on account of the storm. Our paychecks will feel the jump in price as we pay over $20 for 4 or 5 gallons of gas.

How are we going to cope? Paying for gas will leave us with less cash for other necessities. More money is crucial. A money advance or a pay-day loan is an advisory measure. A cash advance should only be utilised for tiny emergencies that your paycheck cannot cover this pay period. The paying back of this type of loan is at the subsequent pay period.

A cash advance or a payday loan is a short term loan of sometimes $50 to $1000. This short duration loan differs significantly from a long term loan in IRs, fees and APRs. For a short term, loan these rates are higher, but the borrower actually ends up coughing up less. A short duration loan is simple to get, as well. There isn't any credit check, the borrower only needs to be 18, employed and have an active account.

To discover a money advance or a pay day loan, the borrower needs to find a approved, insured pay day bank. The best pay-day banks are found on the web. A payday lender will totally divulge all the terms, interests, costs and APRs of the loan to the borrower before any loan documents are signed. A licensed and insured payday lender will set a pre-arranged repayment date by your next pay period. The insured pay day bank will debit the borrowers account for the total amount of the loan including all costs, interest and APRs on that date. If the borrower isn't able to have the full amount at that time, the payday bank will refinance. The borrower won't have a never-ending cycle of debt like the unending cycle of rising gas costs. End the gas price rise?? No but presumably the debt cycle.




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