If you sometimes take out a payday loan from an online service or a local lender, you should be aware of proposed legislation from the federal Consumer Financial Protection Bureau in 2015. Currently, payday lenders are regulated by states, but the federal government is concerned about problems that some borrowers have managing these loans. You may not have trouble using payday loans as part of an occasional borrowing strategy, but the government wants to protect people who do.
With more than half of Americans living paycheck to paycheck, it's easy to see how scary a sudden financial crisis can be. A sudden job loss or unexpected hospitalization could be financially devastating, and could even leave you homeless within a matter of months. How can you, the "average American," handle a sudden financial crisis? The key to staying above water when a financial disaster hits is to plan ahead, and know your best options.
Due to overzealous advocate groups, the term payday loan can conjure up images of greedy loan sharks or poor people with nothing left to lose. However, this image is not accurate. A payday loan is simply a small short term loan. The practice of payday lending does need to be regulated to prevent exploitation, but that need is no different than any other loan agreement regulation on record. In Alabama there are specific laws and legal restrictions in place to protect the borrower and lender during this practice.
If a loved one has been arrested and is in jail with a bail set, you are probably pretty desperate to pay the bail to secure their release. Depending on how much the bail is, you may or may not be able to pay it easily. If you don't have the cash available, you may be able to get a signature bail bond if your credit is good and you have verifiable references.
Buying physical to diversify your financial portfolio may be a good idea, as the value of physical gold is less likely to be influenced by economical factors and has shown a steady inflation rate throughout history.
Most experts recommend keeping anywhere from 5% to 10% of your investable assets in the form of bullion in order to improve overall performance. Most investors generally keep their gold in their security deposit boxes at the bank; however, this is actually highly advised against.