Payday loans

For those of us living paycheque to paycheque, it can be easy to fall into a position where you fall short of cash to cover your most urgent costs. In this post, we’re going to look at the 4 most common mistakes people tend to make when they need fast money in NZ. Have a look through these pointers to see if you’re about to make one of these costly errors. Let’s start with:

1. Dealing in shares

We’ve all heard the stories and watched the movies depicting brave investors or normal people that somehow strike rich dealing in daytime trading. If you’re finding youself regularly short on cash, this might seem like a cool and easy thing to get into, but it certainly isn’t.

If you’ve never dealt in shares before, there’s a steep learning curve. These markets are all about information. When you first start out, you’ve got no knowledge, no contacts and no information that you can really count on, so all your deals are going to be huge gambles with major risk. Need cash fast? Then taking an easy sideline job that promises to pay you per hour is way more sensible than risking your money dealing in shares.

Even if you have a friend that does it and claims they’ll help, they’ve probably got years of experience on you and there’s still a huge likelihood that you’ll make some costly errors in the beginning stages. Avoid this form of gambling and look for something more certain if you want to increase your income sensibly.

2. Take loans from unreliable sources

If you’re going to take a loan, it should be from a credible regulated company. At Pretty Penny Loans, we offer short-term loans with instant payout and an easy online application process. If you’re thinking about looking for financial support from your parents or from friends, you really don’t know what kind of reaction you’re going to get. With a professional loans company, you know that whatever your circumstances, our team will show complete understanding and do all we can to process your application as quickly as possible.

Even if your nearest and dearest can loan you a certain amount of money, it might not be enough to meet your needs. With our loans, you can specify the exact amount needed. Have a successful experience with us by paying what you owe perfectly on time and we’ll be happy to consider offering larger amounts in future.

3. Not having a plan

When money is tight you should be planning every cent. Financial planning can be challenging when you feel like you have no time, but it’s a crucial part of using your money wisely. Need money fast? Then you need to map out how much you need, how you will use it, and how you will ensure you pay it back perfectly. Whether you plan on taking a short-term loan or getting a higher rate credit card, the more you set budgets and stick to them, the better off you are likely to make it through.

You should only ever be buying essential things when you’re working with a right monthly budget. Even if you plan on selling things to make a quick bit of cash, you’ll need to work out how much you think you’ll get and how far that amount will go towards your urgent costs. Take the time to sit down and work out a plan to give yourself confidence in the actions you take going forward.

4. Thinking about borrowing instead of saving

There’s a huge difference between things you NEED and things you want. You might not even need a fast money loan if you have expenses you can cut back on. Like buying sweet treats in your weekly shop? You can probably live without them and save a small fortune. Paying for a Premium TV subscription? Cancel it for a few months and see how much better off you’ll be.

We always encourage our borrowers to ask themselves the most vital question before they proceed with taking a loan – Do you really need it? In most cases, they do and we are happy to help. Before you seek to pull more money in, think about what you could start saving on right away.

You can read more about fast money loans NZ here, and in our previous blog post: Common Tactics People Use When Looking For Fast Money in NZ


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