The present generation can be called a bunch of enthusiastic as well as able individuals who are ready to study hard and secure good jobs. But in order to get the good job, they need to study from a well-known college or institution and that is where most of the young guns are seen to be taking loans to pay off the college fees. In the later part of life, it is seen that these people suffering financially owing to the money being taken up by the loan payment. Hence loan by phone is finding relevance in lives of people.
Taking a loan can always seem to be an easy option for you. However at a point in you adult life, you will see that you are mostly paying off more than one loan per month. Hence taking up too many loans, phone loans or otherwise is not really a good option. It can cause you to get stressed. Hence practicing self-control and not overspending will definitely help you.
You are definitely required to make some changes in the way you spend money if you have started off with even SMS loan. You have to get hold of what triggers you to spend money suddenly and reduce your resources. There is a phenomenon called impulse shopping or spending which you require keeping in control if you wish to do well.
Whenever you are stepping outside you need to have a control over your impulse for sudden spending of the money. If at a certain point of day, you have more energy than the rest, you need to shop at that point. The reason being you will feel less stressed and be able to make wiser choices.
Keeping factors in mind
If during a particular day of the week you are more cheerful than the rest of the week, you need to shop at that point. You need to identify whether there are some environments where you would want to spend more by just going there. There may be some places where such things happened such as in a fair or shopping mall. You may be spending more even on a holiday. In order to prevent money loss, you need to limit yourself from visiting those places and actually keep your own money safe from yourself. In this manner the loan by phone would not be a reality.
Mood to spend
Many people function absolutely according to their mood. You can be having some moods, when you will be obliged to spend more and cause a depletion of your money. There can be times when you can see a discount in every product and end up buying them up unnecessarily. You should not be shopping during the moods when you are likely to spend more. The overspending moods vary from person to person. Someone can be shopping more when he or she is sad or just the opposite.
Place to shop
If there is a particular shop or mall in the city which you simply love and cannot stop yourself from indulging and spending all your money, then that is weakness. Even if you simply plan to do some window shopping around your favorite store, chances are that you would end up buying something or the other after seeing a nice deal.
You must therefore be avoiding the places of that kind or else start looking for phone loans. You must restrict yourself from visiting the place too many times. You can even decide whether you would go there on a weekly or monthly basis and stick to that plan.
Spending on occasions
There may be a certain time of the year such as a holiday season or traditional festival which causes you to spend money impulsively. Going on a shopping spree with your best friend, can also cause you to spend more than usual. Sometimes when you know from beforehand, that you will be making some extra bucks shortly, you tend to spend more. An example would be getting bonus from your office. You need to identify these situations and handle yourself better during these times.
There are some tips that you can use to ensure you no longer require the SMS loan. For example, you can make two bank accounts. One account will be allotted for keeping your savings and you would be conducting transactions from the other one. Direct deposit of a certain amount to one of the accounts right after your salary comes in, is a handy option. You can also start taking up advices of different financial institutions that will teach you to handle your money better.
You can always keep a track of your spending with a tracking notebook. Paying mostly with cash, is an advantage because once it gets finished, you will no longer have the urge or ability to spend more.