As any of you know, waiting for your payday can be a stressful task. Often times, your bills need to be paid off quickly to avoid late fee charges. To help avoid fees, many of us turn to payday loans for some financial help. However, as many who have taken out payday loans will tell you, payday loans can be extremely devastating to your financial stability. So is that it? Should we just sit back and let our expenses grow and grow? Of course not! Unfortunately, many do not know that there are many alternatives to payday loans; alternatives that will help you get financial security without the risk or expense. Here are some options other than looking for payday loan stores near me.
Here Are Some Alternatives to Payday Loans:
A pay advance is a surefire way to get you the cash you need, when you need it, and with no interest. While many employers do not offer this service, large companies usually do. The best way to secure a pay advance is to contact your human resources department of the company you work for and ask them about it. If you work for a small company, consider asking the owner to see if he offers the alternative. Pay advances are a great way to get paid on time without having to worry about the interest that is likely to come with a loan.
Credit Card Cash Advance
Another type of alternative payday loan is the credit card cash advance. This method is certainly one of the easiest alternative methods, so it’s really great if you don’t want to spend a lot of time sorting things out. However, this necessarily makes it slightly less optimal and slightly more expensive for the fastidious penny pincher. Ultimately, though, it’s still far less expensive than a payday loan. If you’re in need of quick, easy, inexpensive cash, this is a good method to consider. But be aware that some credit card companies take advantage of consumers who need quick cash by offering a secured credit card tied to a savings account or other asset.
Life Insurance Loans
When people first hear of this option, they are fairly shocked. Most people don’t know that life insurance policies offer loans. It’s true. Many life insurance policies offer loans if you have the cash value in the policy. A great perk to this sort of loan is that you have your whole life to pay it back and if you don’t manage to ever pay it off, the expense is merely subtracted from your policy.
Local churches and community organizations frequently offer emergency assistance to those in need. They usually provide help with everything from utility bills to groceries to making a car payment. The Low Income Home Energy Assistance Program (LIHEAP) helps low-income households with financial assistance facing weather emergencies as well as other weather-related issues.
Before you take out a payday loan, consider all the options that you have. Signature loans in Las Vegas can be a helpful financial tool if used properly. They can also be expensive if used irresponsibly.