PAYDAY LOANS AND FINANCIAL MANAGEMENT IN THE ARMY

As member of the army, I observed that most of the soldiers whether officers or enlisted personnel especially assigned in the field are tied up from too much debt or credit from individual lenders or lending companies which usually affect their performances. Bad financial management is the most chronic problem in the army and armed forces as a wholewhich triggers low output from individual soldiers. However, there are soldiers who are wise enough and know when to avail loans like payday loans or salary cash loans. This is the basic information they know about payday loans.
Benefits of a payday loan for a soldier
Payday loans are unsecured loans for a short-term basis which often availed by soldiers who needed quick cash in emergency situations and payment for unexpected bills. The soldier who would like to avail for this kind of loan usually secures the loan by post-dating a check with a specified amount of money to be posted their account on their next pay day. The advantage of a payday loan instead of a regular loan is that one can apply for a loan even with a bad credit and less paper works.

Payday loans must be utilized not to cover for a much bigger financial undertakings because it will just cause bigger problems in the future. Since soldiers have regular income, it is not difficult to repay for the loan and interests are not high compared to regular loans.
A smart soldier is a wise spender
When we talk about financial management of a soldier, it deals with his day to day expenses and how he spends it. A smart soldier knows how and when to spend his money. When I was in the Infantry Company as CO, I always spend time with my soldiers and talk to them on how to spend their money wisely. There has been a bad connotation for being a thrifty soldier in my unit so I keep on educating them about it. If loans are the only means to cover emergency situations then I will advise them to apply for a payday loan so they can repay easily.
I hope there would be a subject related to financial management to candidate soldiers. With that concept, more soldiers will know how to manage their own resources. If the soldier has no financial problems and family is well-secured, then expect for a best and quality performance.Click here to know more about this