How NOT to use Cash Advance Loans

Cash advance loans basic purpose is to supplement an income in times of emergencies. However in the recent years cash advance loans in Australia have been criticised, because they have been overused, and misused many times. Cash advance loan is not a "bad" things. The most important is how people use and misuse the loan.

How Not To Use Cash Advance Loans - Example 1

  • You have a well paid job enough to pay the bills.
  • You have expensive taste and an extravagant lifestyle, so you always find yourself lacking cash to spend.
  • You take out a cash advance loan during these times.
  • You have several credit cards with thousands of dollars in bills each.
  • You just pay the minimum of the credit card bills and use the money from the cash advance.
  • You find yourself in the same situation each month.
  • You still have the first cash advance loan to pay off.
  • You go to another lender and borrow more money, because lenders do not check how many cash advance loans a person has.
  • You are in too much debt that you cannot afford to pay for all that you owe.

How Not To Use Cash Advance Loans - Example 2

  • You have a decent job.
  • You live prudently saving most of the time.
  • You have some savings set aside in times of emergencies.
  • You find yourself wanting to go on a vacation.
  • You know you cannot possibly afford it so you decide to take out a cash advance loan.
  • You know that the money that you will be receiving in the next several months is already spent for other obligations.
  • You borrows money anyway.
  • You realise that you can't pay for the loan when the time comes.
  • So you borrow more.
  • You are in too much debt that you cannot afford to pay for all that you owe.

How To Use Cash Advance Loans - Tips

  • In cases of emergencies approach a family member, friends or colleagues (chances of not being charged for the loan are higher).
  • Take the time to do your homework to find best cash advance loan provider.
  • Ask a friend, a colleague, or an acquaintance who has actually used a cash advance loan for recommendations.
  • Visit blogs or forums where you can get personal experience testimony.
  • Borrow only what you can afford.
  • Never borrow when you still have an outstanding loan.
  • Remember, cash advance loans are perfect for temporary needs only.