I may understand the pros and cons of a cash advance better than some people, but one thing I would hope that everyone would know is that one of these short-term loans is not an answer to extra spending. It’s not that I think of myself as climbing up on a soap box in order to preach to people about finances, but…some things need a response.

I’m not going to “name names”  nor be a tattle tale, but  I came across an earlier press release from a direct lender that was advertising  fast cash loans to be used as stocking stuffers. I had to stop in my tracks and wonder, “why?’

Would cash advance money be good to use as gifts?

I’m only here to relay my opinion, but in a world where debt has consumed the majority of monthly income, I would have to say “NO”. This press release material offends me in a way. Could this information have been presented in a blog or an editorial? Is it even news worthy? It’s nice that they explained how the cash advance or payday loan process works, this is information that people need to know. Many aggressive lenders are willing to loan money to those who don’t even know what they are getting into or how they will get themselves out of it. Spread the word, but spread it responsibly.

It’s no lie, cash advances do work for some people. There are success stories for cash advances online from all income levels. Stretching a budget to the next paycheck is a service that does not come for free. A borrower will need to pay a fee for the loan, and if full payment for the loan plus fees are not paid off on the original due date, extra costs will come in the form of a high interest rate.

Is it a good idea to take out a loan for extras?

If you cannot keep up with other monthly costs, getting extras whether by a cash advance online or credit card may not be the best practice for your budget. When it comes to short-term loans, there is not much time to prepare for the payoff. The average term of one of these loans is 14 days. Will you be able to recoup the money plus fees? Will your budget be in turmoil after the payment is made? Can you afford to keep paying high interest over this loan paycheck after paycheck after paycheck? This is where the “cycle of debt” takes over.

Using a cash advance for extras would work for those who have money left over after each paycheck. No one wants to take your freedoms away. Here in American, we live in a land of opportunity. Be thankful for the choices and the freedom to make them for ourselves. But when the amount of personal debt has increased to these levels, it may be time to start sending out press releases on ways to cut spending or turning a “blind eye” to what the Jones’ have.

Use cash advances wisely.

I am not an authority on finances, by any means. I have endured some struggles myself and have always managed to make it work; taking it one month at a time. Even though I have not taken out a cash advance online to make it through any of my budget woes, I know it is an option…for emergency costs only. Using a cash advance for extras is definitely not press release material.