Lake Argyle in Western Australia is an immense body of water stretching out over nearly 1,000 square kilometres. Yet, before 1972 this lake did not even exist. How is it that we now have a huge lake where 40 years ago there was only dry ground? Did the East Kimberly region suddenly experience incredible amounts of rainfall? No, it wasn't the result of any natural occurrence. This vast reservoir exists because we built a large earthen dam across the Ord River. Now, where the land was once too dry and arid to farm, there are more than 150 square kilometres of farmland. Building a dam resulted in increased wealth and vitality to this area of the East Kimberly region.



Imagine your finances like a river running through time. For many of us, all the money that flows into our bank account flows out just as quickly as it came. Wouldn't it be nice if you could build a dam across your bank account and stop some of the water from flowing away? Wouldn't it be nice to have a large reservoir of money at your disposal to help you through times of financial difficulty? Yes, of course it would. Payday Online wants you to know that this is possible, perhaps even inevitable, if you just take some simple steps and stick to them without wavering.

Begin by looking at where you can make the most impact: large expenditures such as car payments, rent, etc. Could you possibly drive a less expensive car or use public transport? Could you move into less expensive housing? Are you really using that gym membership that's costing $90 a month? Do you really need to buy new clothes, or can you get by for a while wearing the clothes you have? Do you have to have 600 channels on your cable television, or could you make do with a less expensive package? Do you have to spend as much time on your mobile phone, or could you cut down on your minutes and pay less each month for phone use?

Another thing to consider is repaying loans early. High interest loans can cost you a lot of money in interest, so add a little extra principal onto each monthly payment and repay those loans as fast as possible.

After you have reduced your large expenditures as much as possible, examine your small purchases. You may think that a four dollar cappuccino may not amount to much, but if you get one every day on the way to work it costs you more than $1,000 a year. Look at every place you shop and ask yourself, “Do I really need to spend this money?”

Although it seems obvious, don't take savings for granted. It's best to plan how much you will save each month and deposit that money as soon as you are paid. Then forget about it. Let it sit there and accumulate interest. Over time you will be surprised at how it grows.

Emergencies will still come, and you will still find yourself in need of quick cash from time to time. Rather than touching your hard-earned savings, be wise in your decision for a fast cash injection. Consider all options before you get desperate for easy money.