Payday Loans Help To Pay Rent
If you are encountering the age-old question, “How will I pay my rent this month?,” you might also ask the question, “Can I get a loan to pay my rent (or mortgage)?” The fact is that yes, you can borrow money to pay your rent through a payday loan.
Now, in no guidebook on personal finance will it say you should borrow money to pay for recurring, monthly household expenses such as rent. But few of those textbooks are dealing in the real world situations of thin margins and emergency expenses. In fact you’re probably not looking to borrow money to cover rent or a mortgage as much as you need to make up lost ground from an emergency expense in recent weeks or months. You make enough of an income to pay for the basics – housing, food, transportation, insurance – but when a medical expense or unplanned trip takes an unexpected $500 or $1000 or $5000 loan out of your pocket, you have to get creative on how you will pay for all these things.
Payday loans bring money from your future – you are borrowing from a future stream of income – into your present, enough to keep your place of residence. There is strong economic incentive for doing something like this:
Cost of moving might be very high – Say you decide you need to move to a less-expensive location. All well and good, but the costs of moving can be exorbitantly expensive.
It’s a way to catch up on all bills – A payday loan might be a way to hit the reset button. With advance cash, you can get caught up on bills as well as your rent or mortgage while you figure out a way to reduce some of those bills in the future.
70% of Americans are living close to the bone – If a payday loan seems like a panicked move, take comfort in knowing you are not alone. A majority of the working people in the U.S. have very little cash leftover after paying bills each month. When an emergency expense hits, just about everyone in this situation has to come up with some kind of solution.
A payday loan is available to just about anyone with a job, even if you have less-than-perfect credit. Used wisely, these paycheck cash advances can help you improve your credit score by keeping you current on your bills.
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