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    Posted January 19, 2014 by

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    Payday Loans and the Borrower’s Budget


    When I first used payday loans, I can say that I had no budget to control the money I spent. When I came short of funds that first time, it was easy to qualify for a payday loan. Fast forward a year and I had more than one loan, within two years multiple loans which I relied on to get me through each payday. I ended up defaulting on a loan, I then seriously began to look for a system to manage my debts.
    I did not find a debt manager that I could use as a budget and manage my payday loans. Since I knew how to use Excel, I set up my own spreadsheets. My Excel workbook was very helpful and worked at controlling my spending and managing my payday loans. I decided to market it as the payday loan organizer.
    One of the main problems I experienced using payday loans was my lack of control when it came to spending. The only way I could see a way out of debt was to set a budget and stick to it. Perhaps I would not have turned to payday loans had I used a budget in the first place. A lot of stories I see on the internet focus their attack on the payday loan companies, rarely are there stories about the efforts of borrowers.
    A borrower’s budget will go a long way in fixing payday loan debts. It is not a quick fix, but if you decide to manage your debt, it is not a bad thing to do either. It does not have to be on computer like an Excel programme, it could be in a book or on a sheet, but the main thing is you should have it. Find out more at

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