Note: this is a sponsored guest post.
When we are young, perhaps just getting out of college, we often think that life is fairly black and white. While we are faced with choices and consequences, we usually find it obvious which is the ‘right’ choice.
As we grow into adults, often during our college years, we begin to face choices that are less black and white. We may choose to party or to study, and despite a choice to party manage to ace an exam. The world starts to look a little different as we venture into our careers. We adopt a philosophy to succeed possibly through sheer hard work, or we may adopt the skills to succeed via office politics (note: it usually requires both). We learn with time and life experience, that there is a lot of gray area between seemingly obvious choices.
Finances can be the same way. There are experts who will tell you exactly how to do everything. From getting out of debt to building an investment portfolio. The steps seem to make sense. It seems very black & white. Spend less. Cut expenses. Pay yourself first. Save 10% of your income. And on and on. Of course it makes sense, particularly in this economy, to minimize debt, to reduce expenditures and to keep an eye out for the disaster around the corner.
Except sometimes life happens. Our personal situation may make those steps take longer, or we may need to change their order. We may put paying off debt or sending a child to a private school first. We may get hit with an unexpected job loss, or medical bills that threaten to bankrupt us.
Which is why an online cash advance -borrowing money from your next paycheck – might sometimes make sense despite the fees and interest rates associated with cash advances.
It’s true that you don’t want to borrow money when you’re already up against a wall on finances. Of course an instant cash advance is not your panacea, the solution to all your woes. But when you’re up against an even worse choice, borrowing through an online cash advance might not be such a bad idea after all. Consider the situations where paying 20 or 25 percent on a loan (amounts vary by lender and terms) still might be the smart choice in the short term.
- Paying a late fee on rent or mortgage payments
- Paying a late fee AND getting an APR increase from a credit card company
- Paying an electric bill that is due and without payment would result in your electricity being shut off and additional fees
- Repairs for your car that are necessary for your safety and your commute
- Paying for an unexpected medical treatment
- Repairing your home due to damage not covered by your homeowner’s insurance
In any case, emergencies should be planned for and saved for, and we should always think of alternatives. Can we do without the car for a week? Borrow money from a relative for the interim? If you’ve exhausted all your options and still have to find a way to come up with the money, doing the math makes sense. Sometimes the math will tell you that despite expert advice, a cash advance makes sense for your situation.
Disclosure: This is a sponsored post.
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