What to do when you’ve spent over budget?

For few people, budgeting is a practical strategy implemented into daily life to ensure that the money you save will outweigh the money you spent.  For the average person, budgeting is an afterthought that has little or no meaning until the credit card statement arrives along with the realization that your wants have outweighed your needs and you have spent more than you saved. Suddenly the money that was originally allocated for priorities i.e. rent, food, health etc. is gone and yet those needs still have to be taken care of. This is where complications arise and we have to look elsewhere to get money.

Debt is a relatively new concept that has evolved with the introduction of the credit card, which has enabled people to “buy” items without actually having the money to pay for them. In the 21st century consumer society we are raised with the belief that our life is given meaning through the acquisition of goods, and taught that participation in these social norms is more import than personal financial preservation.  The appearance of wealth is more valuable than wealth itself and therefore it is better to borrow money to buy something than not to buy it at all; even if it leads to financial deficit. As a result, wants are placed above needs and often times we spend more money than we actually have. What happens when you spent over budget and the basics still need to be paid?

You are left with two choices.

Give up your basic needs

It’s much easier said than done, and usually not the best option. Chances are, you’ve tried to cut your spending but you can’t get to work without a car, and you need your cell phone to be successful. Cutting out the bare essentials can do more damage than good to your financial situation. Well-known financial leaders often emphasize that it takes money to make money, and if you don’t have the utilities you will never be able to compete, let alone get ahead.

Get help from a professional with a short term loan

A short term loan should be exactly that: Short term. This is not another strategy to borrow more and drown in debt. A short term loan is a climbing block to propel you back into financial good standing, preventing you from destroying your credit and compromising your work or the care of your dependants. A Fast Access loan gives you time to regroup, set goals and implement a long term plan of action without having to give up your basic needs.

Mismanaging your money is a bad habit that can be broken. One bad decision does not have to determine your long-term situation as long as you take help that is available. At Fast Access we can have you approved and provide funds within 24 hours of contact to help you get back on your feet, and on your way to a brighter financial future.