Payday is ten days away and the
money from your last check is gone...what do you do? Economic hardship seems to
be the buzz word for the day. More and more families are finding themselves
struggling to make ends meet. Too often consumers are finding their bank
accounts depleted and payday just a glimmer in the distant future. Many people
have turned to innovative ways to fulfill their monthly obligations. Let's
examine one of the ways people have discovered to try and keep the ship afloat
in this time of stormy financial weather.
Most people have found themselves in
this situation at one time or another. Maybe they are just starting out and do
not have the earning potential they would like or they have experienced a life
or relationship change that has added an extra burden to an already precarious
situation. What does a person do to stretch their dollars farther in a time
when prices are going up and wages are going down? Most people have been forced
to cut something from their budgets in order to meet increased economic
pressures. Some have been forced to take on second jobs. Many people have
turned to taking Payday/Cash Advance Loans to close the financial gap in their
pocket book.
What is a Payday/Cash Advance Loan?
It is just what it sounds like. A person can go to a loan provider and take a
loan out today against future earnings/wages. Sounds pretty good doesn't it?
Don't be so quick to agree. It is not as simple as it sounds. Where does this
money come from? My parents used to always say "Money doesn't grow on
trees.", when I asked for something not in our budget. The same adage
applies today as well. It's your money right? Wrong, it is money you have not
actually earned yet. So even though you know in one to two weeks your check
will show that you have earned a certain amount of dollars during that period,
that money is not yours or accessible by you until you actually receive the
check.
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