We have all been there during those lean months, wondering how you are going to make it to payday, especially on those months with special events like Birthdays or Christmas.
Its true we should not be spending beyond our own means, however it happens and is generally just down to timing. Currently we are in the process of paying back most of the credit that we owe, taken out due to the massive amount of work the needed to be done on the house.
What this has meant is some very tight months, while we are being smart about money pending events always draws extra financial worry and it does enters your mind to take out a short lived loan.
Vivus is one such company that offers short time loans, one thing that panics me about this type of loan is the interest rates and the amount you end up paying back. You often see them on TV with massive rates, Vivus rate is advertised as 146% per year, which does not seem to be a small amount but when you are talking in the region of £30 interest for 25 days loan of £300, it does sound reasonable especially if its just to take some immediate pressure off.
Whatever your intentions are, it is paramount you are in the position to pay the money back, you do not want to use a loan like this to supplement your monthly income but use it purely for a timing or cash flow problem.
Me and the Mrs have been working as a tag team for the last few months to ensure the tight months are still manageable, communicating about spending and ensuring that the best deals are found, we have actively brought the weekly food shopping down by £20 a week along with using any available vouchers and discount codes we have been aiming to save in the region of £150 a month on these alone!