about

Hi everyone! My name is Abbey and I am hoping to answer questions about personal finance, relationships, career and anything else that might be on your mind. My specialty is financial guidance. I am a CPA and work in the corporate world. I personally have overcome many struggles with my own personal finances and hope to help others with this as well. I believe that our personal finances impact not just our wallet or wardrobe, but every aspect of our life. Healthy finances are the way to go and I am here to help.
Thank you for your questions!

advice

Is it possible to get a payday loan direct from the lending company instead of going to a check cashing company? Would it be cheaper/better to do so? I am in a bind and could really use the loan, but the last time I got one of these things it was awful and took me months to pay back! Any Help is appreciated!

Hi. Don't do it!! Again. Payday loans are a RIPOFF. Do some easy research and you will find that the interest charged for payday loans is over 100%!! Do what!!

You said you have been in the payday loan trap before and paid it back - good job, that is excellent news. I think what you need rather than a small loan (that will end up costing you twice what you receive) is a plan. Do you have a budget? Do you know how much money you will bring in each month and an estimate of the expenses you have??

Step 1 - create a monthly budget. I can definitely help you with this in more detail if you would like. Ultimately, start with your income at the top of the page - and allocate according to the most basic necessities: food, rent, transportation.

If you would like to talk more about your specific situation I would really love to help. It sounds like a payday loan would be treating the symptom and not the true problem. Let me know!

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My friend's dad said that the american express card (amex) was better than other credit cards, but I am in college now and all these people want to give me credit cards and I don't know which I should choose. Are amex rewards worth getting that card for or should I take the ones I am being offered instead? Thank you!

Hi. You are in school so you must be a very bright person. You are also probably surrounded with lots of advice suggesting that "building credit" is your next step to achieving financial success in life. Personally I also fell under the pressure of building credit and it took me almost three years to pay off two credit cards and a car loan - all of these were obtained while I was in school and making very little money...but hey - I have excellent credit!

My recommendation is door number two - don't have a credit card. Period. Easy. Then you don't have to worry who will give you more points or who will charge you less than 20% interest. As a young college student you are in a great position to make financial decisions that are wise and will ultimately lead you to wealth. Please consider the idea of working and saving up money for purchases.

Imagine a life where you don't owe a bank money for a meal you purchased two years ago or a t-shirt that you never wore. Good luck!

P. S. Check out this site that shows alternative credit options: http://ecredable.com/

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