A lot of people here the term cash advance and don’t really know what to think of it. They might associate it with a loan, and then are turned off because who needs a loan? In fact, most people who dislike loans are the ones who have taken too many of them and don’t want any more debt than they already have.
Another sort of people that might not know what an advance in cash is would be the folks who just don’t have the need for cash right now. However, there are always times when people need fast cash, and if you don’t know what or why you would want an advance on your pay, you should think about the following.
What Is This So Called Advance?
When you work for a company and are fortunate enough in this economy to hold down a job, the company doesn’t hand you a paycheck at the end of every hour, every day, or even every week in some shops and plants. Most places will pay you at the end of every week or two. Sometimes you can’t make it to the next paycheck when you have a financial emergency. This is when a small cash advance helps. However, instead of opting for a credit card cash advance, choose a payday loan. The credit card advance carries a lot more interest baggage with the payday loan doesn’t.
Why Not a Small Loan?
Why you would want your cash in advance is a pretty simple concept. If you have already worked and have therefore already earned the money but you have a bill coming in that’s due soon, you can’t just tell the bill collector “no.” Payday loans pay anywhere from $100 to $1500 and the cash is deposited directly into your checking account. No questions are asked about what you need to use the money for. How you use the money is your business.
However, always remember that you do have to pay back the loan. This starts on the next payroll deposit to your checking account. You don’t have to worry about forgetting to make that payment. Each payday a bit of the advance is paid off. So getting a cash advance would definitely allow you to take control of your need money situation and pay off everyone without worrying about deadlines.