An old question asks, “What do you do when you finally make ends meet and somebody moves the ends?” In the past, when that question was asked, there was no timely answer; these days we’re fortunate to have the payday cash advance.
With 78 percent of Americans now living paycheck to paycheck, a way of life that was once largely dominated by those living at or below the poverty line has become the norm for many Americans who earn more.
- Twenty-eight percent of Americans who earn between $50,000 and $100,00 a year now live paycheck to paycheck.
- Ten percent of Americans who earn more than $100,000 a year now live paycheck to paycheck.
Millions of Americans who would otherwise find it so hard to keep a budget have no choice but to do just that. When you’re living paycheck to paycheck, you must know where the money is going; not knowing so means that something is likely to be missed. Whether we keep a written account or not, responsible people who are living paycheck to paycheck know on average how they’re going to spend their money every month. There are typically allotments in the budget for:
- Gas for the car
Do You Budget For Emergencies?
There is usually at least a mental log that contains each spending category that needs to be accounted for.
For most people, however, living in such a fashion doesn’t allow for emergencies. That’s possibly the greatest downside of living paycheck to paycheck. You can’t predict when the ends are going to be moved. And most people today can’t afford a $400 emergency.
That’s where a payday cash advance can help. We never know when life’s little emergencies are going to happen, but we can be pretty sure that we’re not going to have six or eight weeks to wait for a bank loan when they do.
A payday cash advance can help in those situations. This is an advance on a person’s salary that will put cash in his or her hand when they need it the most.
Payday cash advance benefits
A payday cash advance comes with no FICO consideration. As the cash is an advance on money that will be earned later, it is not a loan, so credit scores aren’t a factor.
The is also no collateral The collateral is future earnings, so the recipient gets the cash without fear of losing some of his or her cherished belongings.
It also comes with same day approval. In fact, with the implementation of algorithm-based underwriting, approval times are down to under an hour.
Borrowers can receive payment within two days. There’s no sense getting funding for an emergency if the money doesn’t get to you quickly. You’ll have the money in hand within 48 hours.
No matter who we are, our financial lives are difficult to manage. Despite our greatest attention to these details, life’s little emergencies do arise…we make ends meet, then somebody moves the ends. It’s good to know that, when most of us are juggling our spending just to make it to the next paycheck, help is there when life gives us something extraordinary to contend with.