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Cash Advance Care — Responsible Use of a Cash Advance

Many responsibilities come with obtaining a cash advance. Some people may think, “Wow! I was just given money overnight with a few simple steps.” But that is not responsible thinking. A cash advance is to be taken very seriously because of the ease in receiving one. A borrower needs to think about why the cash advance is really needed and that it’s an affordable solution for me. The overall effect of getting in too deep with a cash advance can be detrimental. But if you are smart about your financial decisions in regards to an advance, it can work to your advantage.

A cash advance is a type of short term loan that should be used for urgent money problems or times when you know you will be using your next paycheck for “the reason of the loan” whatever it may be. Before applying for a cash advance a good practice would be to budget your finances for the month and determine how much of a loan you can afford. Then find a trustworthy lender with the competitive rates possible.

Good reasons to acquire a cash advance:
Gasoline for the week allowing you to get to work
Groceries – for a week when your check doesn’t stretch enough
Utility shut off – the reconnect fee may be higher than a cash advance fee
Car repair – you have to get to work who can wait until next payday
Emergency doctor or vet bill
Pay a bill earlier that was going to be paid next week

Bad reasons to acquire a cash advance:
To purchase a large ticket item such as a TV or cell phone
To purchase new clothes or shoes (unless urgently needed for work)
Never take out a cash advance to enjoy the local casino or racetrack
To purchase normal household items you could do without
Do not rely on a cash advance to get you out of long term debt

Cash advances have become the norm for many people in today’s economy. It can provide the financial relief that you need until next payday, but it should always be used responsibly. A loan against your next paycheck could help you this week, but if you did not plan properly it can hurt worse the following week. Budget your finances accordingly trying to cut back whenever possible and you may not feel the urgency of a cash advance calling your name. Remember it is a short term solution to an emergency situation — not a daily living crutch.

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