Saturday, June 16, 2012

Quality Over Quantity In Payday Loans and In Life

Payday loan lenders know that when it comes to loan terms, quality trumps quantity. Increasing the quantity of payday loan debt is discouraged by quality lenders. Quality lenders encourage borrowers to obtain only the minimum amount needed and to pay it off on time and in full. Quality payday loan lenders do not want their customers trapped in a cycle of acquiring a larger quantity of debt to pay off a debt. When it comes to payday loans, quantity is never a good thing.

This same principle often holds true for life in general. When individuals are trying to be frugal, they often purchase subpar, low-quality items, only to discover that said items were a waste of money. For instance, a shopper may buy an inexpensive pair of jeans to stay on budget, yet after one wash the jeans are faded, frayed, or misshapen. In such a case, the purchase was counterproductive; instead of buying a more costly pair of jeans that could last several years, the buyer opted for a cheaper pair that needs to be replaced continuously. In the long run, going the low-quality route ends up being more expensive than buying the quality product, as a larger quantity of the low-quality product is needed to serve the same purpose as one of the high-quality product. Instead of buying six pairs of low end jeans, the buyer is wise to invest in one pair of high-quality denim, which will last longer and fit better.

The same goes for home repairs. Doing something right the first time can be costly, but opting for a cheaper, half-done version ends up costing more in the end, as the job must be repeated a number of times. By abiding by the rule that quality is better than quantity, people can save themselves a lot of money and financial worry.

But quality items can be pricey. How can a person on a budget afford quality items and repairs so as to avoid the quantity trap?

Without breaking the bank, quality clothing and household items can be obtained in a variety of ways. There are many discount stores that carry high-quality clothing at a fraction of the price. All of these stores purchase overstocked and out of season items from designers, and thus are able to sale high-quality lines of clothing at reasonable prices. Deals on high-quality clothing can also be found at second-hand stores, as people from all walks of life donate clothing to these shops. Similarly, high-quality household items, such as furniture, can be found at second-hand stores, yard sales, and estate sales.

Home repairs are a little trickier. Unless a home owner knows a quality contractor, electrician, or plumber personally, acquiring quality home repairs is likely to be expensive. A home owner can avoid some expenses by doing minor repairs themselves, if they are qualified, but major repairs or renovations are best done by a professional. The upfront cost might be steep, but the long term costs will be significantly less if the repairs are done correctly the first time. A homeowner should read contractor reviews to ensure the highest quality repairs.

Similarly, when borrowing a payday loan online, a customer is wise to seek out the best terms and the most credible reputations; doing so may prevent a borrower from getting stuck in a cycle of acquiring a quantity of loans rather than one quality loan.

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