Pay Day loans, Cash Advances,
24 hours Loans Provide Fast Ca |
By Daymon Hoag |
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You've seen ads on television, in your local newspaper, and online
for quick loans, or short term loans. These loans can range from
cash in one to 24 hours. You can go to your local cash advance
business down the street, or you can apply online. In both cases the
cash is pretty easy to get right away when you're in a pinch.
When you need money fast, pay day loans are there to save the day,
but be careful where you go to get your cash advances since some
will charge you a pretty penny in finance fees, and normally require
you to pay back the loan in one to two weeks time, and with
interest. There's no harm in borrowing, just be sure it fits your
budget.
Here are a few tips in how to avoid the cycle of
borrowing fast cash loans pay day after pay day. Don't borrow from
Peter to Pay Paul. If you find yourself taking out a cash advance
from company A to pay your cash advance at company B, you have just
gotten caught up in a reoccurring, yet avoidable cycle.
The
main cause of this problem are finance fees. Payday loan finance
fees can range from free to 25 dollars per 100 dollars borrowed.
Free financing is not the norm, and normally reserved for first time
customers. The next best average finance charge for pay day loans is
ten dollars per one hundred dollars borrowed.
So if you're
looking for a low rate on cash advances, go for free financing or
ten dollars per one hundred. That's only ten percent folks, and
fifteen dollars cheaper than the twenty five dollar finance fee.
Lets say you borrowed five hundred dollars. Would you rather pay
back 50 dollars, or 125 dollars
Whenever possible, get make
sure you have at least two paydays before you have to pay back your
short term loan. For example, if you get paid bi-weekly, try to go
with a lender that will give you at least 30 days to pay back the
loan. This way you'll have a little cushion to work with and won't
blow your whole check paying off your loan, and can help you avoid
the cycle of borrowing again right away.
Pay Day Loans are
great for keeping the report man away, or the mortgage companies,
and landlords off your back. Be responsible, use them sparingly, and
cash advances can be a god send. It's always nice to know money is
available when you need it in a pinch. Keep it cheap, keep it
infrequent, and most of all keep as much as you can in your pocket. |
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