Avoiding An Online Cash Advance One Drive-Thru Line At A Time

It is a well-known fact that if you have built up a savings account, you will not need to fall back on using an online cash advance loan when too many costs come at you at once. Saving money is a tough job. It takes focus, dedication and a little saving grace. Your initial plan for a chunk of money to be set aside might end up paying the plumber or mechanic. Unexpected costs which come with everyday life can be a bit of a savings drainer. A great motivator to keep trying is that each time you plan was foiled by an additional bill; you can thank yourself that you had the money rather than having to use third party money like an online payday loan or filling credit cards.I had an inactive savings account for many years. Inactive meaning there were times when I was able to put money into my account, but then just watched the slow leak of cash flow out into my checking account each time I needed more money to cover the costs. As much of a blessing as it was to have this cushion, I had never dedicated myself into refueling the account until tax time came or I received a birthday gift. I guess I can give myself credit for at least saving that amount.I opened a new checking account and the found that the free options came at a price. There was not enough money to keep $3000 at all times to keep the fees away. I opted for the automatic direct deposits and monthly transfer of $25 into my savings. I got to choose the date of the transfer. I thought this was such a simple task I didn’t have to worry about because looking at the paperwork and comparing leaving $3000 or transferring $25 to savings seemed like polar opposites. It wasn’t until the fourth month when I realized that an automatic withdrawal of $25 into my savings account was going to be tougher than I thought. It was the end of the month and my car payment was due on the same day the $25 was going to head over to my savings. My paycheck was coming, but not fast enough. I started to stress thinking that my account was going to be overdrawn, but then quickly remembered that I had already had money transferred to my savings. I was able to quickly transfer funds from my savings to checking with online banking services. I just saved myself from having to apply for an online payday loan or taking a cash advance out of my credit card. Both of those options work in a last ditch effort for cash, but there are fees involved. I was feeling really good that I didn’t have to pay for my $25 transfer and still kept my checking account in good standing.I quickly got motivated to try to save more in case my next emergency was going to be for more than $25. I tucked away a few extra dollars each week and was able to increase my monthly savings from $25 to $40. I made a clear conscious effort when I skip the drive- through line for coffee. I take the cash and put it in a separate pocket in my purse. I may never need to fall back on an low cost cash advance loan for quick cash and it feels great to be financially independent from third party money solutions.