May 15, 2009, Newsletter Issue #57: You May Want a Cash Advance

Tip of the Week

You may not even want a fast cash advance. It depends on your current situation and your ability to pay the fast cash advance back in a timely manner. There is a caution that short term loans have very high interest rates and should be paid back as soon as possible.

However, if you are in need of fast cash, then a payday loan is a good way to help. First, consider if you have exhausted your other resources, such as a credit card or union loans. Some employers offer emergency temporary loans at no fees, so you may want to consider this option also. If your options for getting a fast cash advance are few, then the payday loan is the best way to help yourself. Imagine if you have to take a suddenemergency trip or need a refrigerator repaired. A fast cash advance is really only used for emergency needs that arise in everyone’s life.

You also want to consider if you will be able to pay the fast cash advance back in a timely fashion. You can always extend the payday loan, but this will add to the amount of interest you are spending. For example, say you want a fast cash advance because your puppy became sick and need to get shots from the veterinarian that cost 100$. You apply for a fast cash advance at a reliable payday loan finder like cashloansource.com. While fees vary between lenders, let’s say the 100$ has a 10$ fee. This is working great so far, but if you can’t pay the 110$ back on your next payday, you can always extend the short term loan out again. This can be done a maximum of three times with most fast cash advance lending institutions. Now, over the course of six weeks, you have racked up 40$ in fees, almost half the initial fast cash advance. The best option is to pay the fast cash advance off with the first payment due date, this saves you additional fees and you can take care of your emergency fast cash needs.

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