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Saturday 25 May 2013

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

By Liam Wayne


Gas prices took their largest one day jump in 24 hours. Relief is anticipated after Work Day. This was the biggest leap in 18 months. Labor Day was just that- labor at the gas pump. Pay-day loans stayed steady, though.

Hurricane Isaac played chaos over the Gulf Coast and the gas pumps. Higher gas prices have hit the people who reside in Louisiana, Mississippi, Illinois, Indiana and Ohio. The nation's average pricetag for a gallon of gas jumped 5 cents in a single day. This trend of rising gas costs will cause havoc to our paychecks. 5 cents a gallon adds up fast and the price of gas is going higher as we speak.

Isaac is the name of the typhoon 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 caused gas costs to raise more than 14 cents a gallon in the Midwestern states. Naturally, drivers were irritated and perplexed 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 Work Day but the full impact of Isaac isn't yet known. Pump costs were on the rise before Isaac hit and now the country is losing our gas supply due to the refinery shut downs. If gas costs rose 40 cents from July to Aug before the typhoon, then we are in for a tragedy at the pump as a result of 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? Paying for gas will leave us with less cash for other must haves. More cash is crucial. A money advance or a payday loan is an advisory measure. A money advance should really only be used for small emergencies that your salary check can't cover this pay period. The paying back of this type of loan is at the following pay period.

A money advance or a payday loan is a short-term loan of typically $50 to $1000. This short duration loan differs from a long-term loan in rates, fees and APRs. For a short term, loan these rates appear higher, but the borrower essentially ends up spending less. A short duration loan is simple to obtain, as well. There is not any credit check, the borrower only must be 18, employed and have an active bank account.

To get a cash advance or a payday loan, the borrower needs to get a approved, insured pay day bank. The best pay-day banks are found online. A payday bank will totally 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 bank will debit the borrowers account for the full amount of the loan including all charges, interest and APRs on that date. If the borrower isn't able to have the total amount at that time, the payday lender will refinance. The borrower will not have an endless cycle of debt like the endless cycle of rising gas costs. End the gas price rise?? No but possibly the debt cycle.




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