2020年8月3日 • 3分钟
有时, you find yourself in a bind when your paycheck isn’t quite enough to cover expenses – especially if you’ve had a 收入下降 because your pay or hours have been cut. We know it’s a difficult situation to be in, but we don’t want you to be forced to take a payday loan. 的 true cost of payday loans is high, and they can have negative effects on your finances.
Because we care about your financial wellness, we’re here to offer solutions. Check out these 7 alternatives that will help you cover expenses when you’re facing a cash crunch.
Even a short-term payday loan can easily cost you the equivalent of 200% or 300% in interest charges.”
Even a short-term payday loan can easily cost you the equivalent of 200% or 300% in interest charges, 如果你有一个 emergency 储蓄 fund先点击那个. If you have other 储蓄 that’s not specifically for emergencies, consider that first before taking out a payday loan. If you do choose to take money out from your other 储蓄, the good news is that it’s easier and cheaper for you to pay back your own 储蓄 versus paying a lender.
个人贷款 can be used to cover just about anything – and interest rates on personal loans are much lower than on payday loans and online loans. Patelco has several short-term loan options.
If you’re short money one month, consider picking up some extra gig work, like doing deliveries to help raise the needed cash. You should also check out our ideas for how to make money from home.
If you’re having trouble with covering your monthly bills and need an extension, 打电话给你的债权人, landlord or utility company and try to negotiate new 还款 terms or a longer timeline. Check out our article on how to negotiate rent, which has great tips you can use for negotiating many different kinds of bills. You’ll be surprised how many creditors and billers are willing to work with you and offer an extension.
Turning to your family and friends is another option, but be cautious because relationships are involved. It’s wonderful if a friend or relative is willing to lend you cash, so make it a point to pay them back as quickly as possible. Taking a longer time to repay can take a toll on the relationship.
Financial emergencies hit everyone at some point – and chances are, 你的雇主 knows what it’s like to be short on cash. Consider talking to 你的雇主 for an advance on your salary. 你的 results may vary according to your type of work and whether you work for a small business or a large corporation, but the worst 你的雇主 can do is say no. It may be a little bit awkward to ask, but it’s a reasonable request.
的re are local nonprofits in many areas of the country that will provide financial assistance. Reach out to nonprofits you know of, or do an internet search for nonprofits in your area. If you’re $200 short on your rent, see if there is a food pantry in your area that can help with groceries – which could free up that $200 to cover your car repair bill and help you avoid a costly payday loan.
我们是来谈谈的. If you have an emergency and are not sure how to proceed, set up a confidential one-on-one call with one of our Certified Financial Specialists. Our specialists can help you figure out the best path forward with your emergency – and help you avoid the 掠夺性贷款 practices of a payday loan.
Don’t be fooled by the marketing of short-term, emergency and payday loans online. Get the facts on the true cost of payday loans from Patelco.
Stuck in debt and want to break the cycle? Get tips for how to pay off debt faster and reach financial well-being.
Are you worried about paying off credit cards? 你有选择. Find out how to pay off credit card debt from the experts at Patelco.