Most of us wish we could be as clutch as LeBron. Down here in reality, we’re miles away from keeping that level of cool under pressure. Most of us can handle a little bit of stress, but major anxiety can affect our thoughts and emotions, leading us to make more than questionable choices. Its power over us only gets worse when more is at stake — say when we’re looking for a payday loan. When facing down a mountain of bills we can let stress get the better of us and pick an option that promises a fast solution — not necessarily the best solution.

Sometimes, relying on financial assistance is the only answer. It helps us cover the biggest investments in our lives — like a mortgage or auto loan — and it helps us cover the not-so-big investments — like a momentary cash shortage. These products, like everything in life, have a time and place. Securing one with rates and terms outside of your means to repay never works to your advantage.

This may seem obvious, but this rule of thumb is hard to remember when you’re emotionally affected by the outcome. Scientists attribute this to the effects of stress. In an article published in the Association for Psychological Science, a group of scientists revealed how stress affects our ability to make decisions. When faced with an option, people under stress typically focus on the positives outcomes rather than the negatives of any given solution.

If you think any loan can fit without questioning how its rates, terms, and conditions affect your ability to repay your debt, you could be under the effects of stress’ powers. Luckily, you’re already one step closer to breaking free from its clutches. You’ve already identified stress has sway over your thoughts. Now you just have to think through your financial crisis with logic.

Critical thinking is the buzzword of the generation in this age of unusual untruths and alternative facts. Just like you apply it to the click bait you read online, you should apply it to the payday lenders in Canada.

SWOT Analysis is a great way to ensure you’re looking at lenders logically. Standing for Strengths, Weaknesses, Opportunities, and Threats, this acronym is a method that forces you to break down your problem and its solutions rationally so you don’t jump at the first loan rather the best loan. If this is the first you’ve heard of SWOT Analysis, use this guide to help you get started.

It’s a strategy that will take some time, but don’t be discouraged. It will help you land a loan with rates and terms you can handle. Your work will help you locate a loan that works within your timeline, too. Unlike traditional lenders that take can take too long to process your application, an online payday loans direct lender like GoDay promises fast action. In some cases, they can even provide same day loans of up to $500 for first time borrowers.

Facing down too many bills is stressful, but don’t let your state of mind cause you to make poor decisions. Take a deep breath and keep calm. With your critical thinking skills and a method like SWOT analysis at your disposal, you can kick stress to the curb and find a lender that works with your capabilities in mind.


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Avatar photo About James Hendrickson

James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.

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