Using your Payday Loan Responsibly

Tip 1. Make a budget before you borrow money. When you can get a cash loan quick, it can be very tempting to borrow more than you really need. This practice may create a cash flow problem when your next pay period rolls around. Before you borrow, make a budget and ask yourself these questions.

• How much do I really need to meet the expense at hand?
• How much will I bring home with my next pay check?
• What other expenses will I need to meet with my next pay check?
• How many are fixed? (rent, mortgage, car payment) How many are variables? (groceries, etc) Can I juggle any of these if necessary, in order to repay my cash loan in a timely manner?
• Many payday advance lenders offer a rollover option if you need a bit more time to get back on track. If you anticipate that you may have difficulty repaying your cash loan on your next payday, learn about rollover options and fees before you borrow.

Tip 2. Determine if you are motivated by need or want to get a payday advance

• For example, we all want to enjoy a weekend getaway, but we need our car to get to work.
• Payday loans are best used for things that you need.