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Studies show that people would rather take out an online payday loan rather than cut back on expenses. As often as savings accounts are mentioned and suggested, many people would rather live the lifestyle they are accustomed to. So what if the terminology was changed? Instead of calling a savings account by its original name, let's try to view it as an "emergency fund".

Payday loans online provide access to emergency cash.If emergency access to cash is the attractive part to an online payday loan, how much effort would it be to "collect" (trying to avoid the "save" word) a small amount of money to use instead of turning to the low cost payday loans.

Begin with a jar or a pretty vase taking up space in the storage closet. Collect your loose change each day and begin filling up the container. Heading for a coffee shop? Set yourself a mindset which will get you to avoid stopping and place the money which would have been spent on your morning java into the container. Determined to get your coffee? Match the amount spent on this want and place an equal amount into the jar. Apply this rule towards eating out, the shoes that you just had to have because they were on sale or the pizza you brought home for dinner. Collecting money for an emergency fund may not be such a difficult job. You may just find yourself cutting back as your wallet empties itself into it just for thinking about spending the extra cash.

Collecting things is fun! So many people make hobbies out of collecting random items. There are even special shelving units purchased to display the collections. Your beautiful vase filled with money displayed on the mantel is a great reminder to you to keep collecting. Once the container is filled to the brim, take the money to the bank. Open a "you know what" account and start building your emergency cash.

The whole idea may sound silly, but if you have ever raised children, then you know that reverse psychology does work. Cutting back on those extras will become second nature in order to refrain from spending double the amount. This may even carry over into the grocery list as smarter choices are made keeping meals being made at home instead of eating out. Once you can build you collection up to a few hundred dollars, don't stop. Keep your collection going. Try to get the whole family involved. Think about setting a collections goal. Once the container is filled, the family gets a treat, an inexpensive treat.

Who knows, your emergency cash collection could continue to grow into more than just a direct payday loan amount. These loans are small, usually only a few hundred dollars even with the fees. Having a collection of your own to fall back on with keep fee charges away. Put back what you borrowed as fast as you can to keep the collection sturdy for the next time you have an emergency cash need.