Gas Costs Are Stormy With Issac But Pay day Loans Stay Calm

By Liam Wayne


Gas costs took their biggest one day jump in twenty four hours. Relief is anticipated after Labor Day. This was the most important jump in 18 months. Work Day was just that- labor at the gas pump. Payday loans stayed steady, though.

Hurricane Isaac caused havoc over the Gulf Coast and the gas pumps. Higher gas costs have hit the residents of Louisiana, Mississippi, Illinois, Indiana and Ohio. The national average price for a gallon of gas jumped 5 cents in one day. This trend of rising gas prices will play havoc to our paychecks. 5 cents a gallon adds up fast and the price of gas is going higher as we talk.

Isaac is the name of the storm that shut down the refineries on the Gulf Coast. These refineries are losing about 1.3 million barrels a day. This loss of refining capacity has been responsible for gas costs to raise more than 14 cents a gallon in the Midwestern states. Naturally, drivers were angry and puzzled about the stretch in their paychecks to pay for gas. It is more expensive than $20 for only 5 gallons.

Gas costs are supposed to fall again after Labor Day but the full impact of Isaac is not yet known. Pump costs were on the rise before Isaac hit and now the country is losing our gas supply thanks to the refinery shut downs. If gas prices rose 40 cents from July to August before the hurricane, then we are in for a disaster at the pump due to the storm. Our paychecks will feel the jump in price as we pay over $20 for 4 or 5 gallons of gas.

How are we going to cope? Stumping up for gas will leave us with less money for other essentials. More money is essential. A money advance or a payday loan is an advisory measure. A money advance should only be utilized for tiny emergencies that your paycheck cannot cover this pay period. The repayment of this kind of loan is at the next pay period.

A cash advance or a pay day loan is a temporary loan of usually $50 to $1000. This short duration loan differs from a long term loan in interest rates, fees and APRs. For a short term, loan these rates appear higher, but the borrower essentially ends up spending less. A short-term advance is easy to obtain, too. There is no credit investigation, the borrower only needs to be 18, employed and have an active account.

To discover a cash advance or a pay day loan, the borrower wishes to find a approved, insured payday bank. The best payday banks are found online. A payday lender will fully divulge all the terms, interests, costs and APRs of the loan to the borrower before any loan documents are signed. A licensed and insured payday lender will set a pre-arranged repayment date by your next pay period. The insured pay-day lender will debit the borrowers account for the whole amount of the loan including all charges, interest and APRs on that date. If the borrower can't have the full amount at that point, the payday bank will refinance. The borrower won't have an endless cycle of debt like the endless cycle of rising gas prices. End the gas price rise?? No but presumably the debt cycle.




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