Do you have someone or somewhere you can turn when you desperately need some cash? If you do not have savings built up, you may find yourself strapped for cash to pay a necessary bill. One option that you may not have considered is a cash advance company that will loan you money for up to one month until you receive your next paycheck. Cash advance companies can provide you with just what you need to get through an out-of-the-ordinary month for which you were not prepared. However, once you have your cash advance loan, you may find yourself struggling to pay it off the next month. Rather than taking out increasing numbers of loans, consider these five smart ways to pay off your loan in no time at all.

Set Up an Automatic Payment

Lest you forget to pay back your cash advance or accidentally use the funds from your checking account before you have a chance to pay back your debt, consider using an automatic payment to pay off your loan. Some cash advance creditors have forms that you can fill out while you are at their offices to set up an automated payment. For other companies, you will need to visit your own bank to set up an automatic draft. Once this is set up, you will not need to worry about forgetting to make your payment nor will you accidentally use those funds.

Renegotiate the Loan

Depending on how much business you have already given the cash advance company and how well they know you, you may be able to renegotiate the terms of your advance to either pay back a smaller amount or have more time to pay back the debt. Most cash advances are due within one month. While you would certainly like to pay it back quickly, you simply may not be able to with your next paycheck. Ask the creditors if they would be willing to back up the payment by one month or accept a partial payment for the first month. Another option is to negotiate a lower interest rate, which will decrease the amount you have to pay back.

Adjust Withholdings at Work

When you pay back a cash advance Texas, you will be paying back the principal that you borrowed plus some interest. You will need to come up with ways to increase your income so that you can easily cover the required amount. One option is to adjust your withholdings on your W-4 at work. This change typically goes through quickly if you have a good HR department. When you decrease withholdings, you will see a bigger paycheck every month. If you are like the average American that gets nearly $3,000 each year in tax refunds, you could see up to an extra $250 per month on your paycheck by doing this.

Borrow Money

Perhaps you can borrow money for a month or two from a close family member or friend to pay back your loan. Depending on your job and your boss, you could also borrow money against your next paycheck at your place of employment. If you really must pay back your cash advance and you have no other options, consider borrowing against your life insurance policy or request money from your 401(k).

Increase Income for the Month

There are many ways that you can make some extra money for the month to meet your cash advance needs. You could pick up a side job, such as a seasonal position at a department store or a pizza delivery or newspaper delivery job. You could also host your own garage sale, sell some of your belongings to a consignment store, or donate plasma for some quick extra money.

Just because you have taken out a cash advance does not mean that you are destined to staying in debt forever. Instead, by following a few of these wise tips, you can have your cash advance repaid within the month you have been given and you can live free and clear once again. When you use smart financial habits, you can safely use a cash advance to pay for unexpected expenses.

Author's Bio: 

Dixie Somers is a freelance writer and blogger for business, home, and family niches. Dixie lives in Phoenix, Arizona, and is the proud mother of three beautiful girls and wife to a wonderful husband.