How to Get a Payday Loan Advance on Your Salary
We can sometimes find ourselves in the financial situation where we feel like we need some extra money but there seems to be far too long until we next get paid. There are solutions to this problem and we may not think through which will be the best one for us before we choose one. It can be a good idea to start by understanding what we might be able to do in order to manage.
How much would you like to borrow?
Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
- Spend less – although this might seem obvious or very difficult, it might be possible that you will be able to manage if you are really careful. For example, you might be able to use up food that you have in your cupboard or freezer rather than buying lots more or you may be bale to walk instead of driving to places to save money on fuel. It is worth thinking about whether there are things that you can do to cut spending in other areas as well. You may perhaps be able to delay purchases until after you get paid, for example.
- Check savings account – it could be possible that you will have enough money available in your savings account to help you out. Make sure that you check and see how much you have. It might be that you want to keep the money in there because it is earning interest for you or because you are saving up for something. However, it can be worth considering spending it. This is because this money will not make as much for you in interest in the savings account compared t what you would have to pay out in costs if you borrowed the money that you needed instead. It will save you a significant amount of money to use your savings compared to getting a little loan.
- Supplement your income – an alternative way to get the money that you need is to see whether you can earn extra. You might be able to get some money pretty quickly too, if you are lucky. You might be able to do some casual work, some temping or freelancing or something like that. It could be that you will be able to find work online which could help to get you some money. It is worth having a quick think about what you might be able to do so that you can get some extra money.
- Get a salary advance – another option for you could be to get an advance on your salary. If you work for a large company you are more likely to be able to negotiate this. You will be able to ask your manager whether it is possible for you to be able to get some of your pay early. If you can, it will mean that your pay will be lower when you do get it, so you will have to be really careful and budget well. However, it will mean that you will be able to manage your finances more easily.
- Borrow money – this option is the one that most people will go for. It is not surprising as there are a lot f people that have no savings, have no time to do extra work and cannot manage without extra money. This is also an option that is available to most people. There are lots of types of borrowing that could be possible but getting a payday loans advance is something which many people will turn to. It is worth understanding how you can get one of these so that you can use it if you need one.
Where to Apply for a Payday Loan Advance
It is important to know where to apply for a payday loans advance to start with. There are several options that will be available that you can consider using. Some people might like to simply go to a payday lender that they have used before. Some might like to use a company that they have heard of, perhaps through advertising. But neither of these methods might be the best. This is because it is far better to compare the different lenders so that you know what each offer. This will allow you to find the one that is the best for you. It might be that you want to use the cheapest or that you want to use a lender that you feel will give you good customer service. It is good to make sure that you know what you are looking for and then you will be able to find the best advance payday loans provider for you.
How to find the best payday loans advance
There are several steps that you might need to work through in order to make sure that you find the best lender for you.
- Establish what you want from the lender – You need to start by thinking about what you want from a good loan. It might be that the cost is the most important thing to you. However, it is important to also think about the repayment terms and whether you think that you will be able to manage the repayments. Some loans may require a lump sum repayment and others will have a selection of repayments, perhaps across several months or years. It is worth thinking hard about which might suit you the best. It can be good to think that a loan will be repaid quickly but if it means that you will have to struggle, then it could be better to have more repayments that you are able to manage. Lastly, you will need to think about whether there are any features of lenders that are important to you as you will also have to consider these when you are choosing between them.
- Match a lender to your requirements – This might seem easy but actually there are lots of ways that you can try to match a lender to your requirements. Some take a lot longer than others as well and you need to be aware of some of the options so that you can choose the method that you feel will be the best one for you.
- Use search engines – using a search engine could potentially be the most through way to do the job but it will be the most time consuming. Basically, you search for every payday lender that you can find and then you check out their details so that you can find out whether they will be a suitable lender for you. This will mean calculating how much each loan will cost you and checking the terms and conditions to see if they suit you. This could take quite a while for each lender and it is likely that you will run out of time before you complete the job of doing this.
- Comparison sites – these are popular ways to look for lenders which take up less time. You will put in the details of how much you want to borrow and how long for and then the website will return search results that will show you a selection of lenders compared by price. You will therefore be able to compare them and choose the cheapest one. The problem with this method is that there are a limited amount of lenders that are compared. This means that there could be better lenders that are available but are not listed in your results.
- Credit brokers – Credit brokers such as Boutell are different to comparison websites in that they do not compare as such. They will take your details and then send you details of lenders that are suitable for you. They can be quick and this means that if you need your loan in a hurry they will be convenient for you.
Use a Lender That Meets Your Needs
So if you need a payday loans advance it worth starting by considering whether there are other options that might be available to you. Then you need to make sure that you are aware of what a payday loans advance is and what you want form a specific loan and lender. This will then allow you to start looking for one that meets your needs. There are different ways that you can approach this and they will depend on how much time you have to put into the research or whether you are prepared to do that research yourself.
Otherwise you can use credit brokers such as Boutell to help you to get a loan as well as comparison websites. It is good to think about which method you think will suit you the best. It is important to find the best possible loan for you as it will make a big difference to your borrowing experience. Not only could it mean that you will save a significant amount of money, but you could have a much more positive relationship with your direct payday lender and find that the repayment terms are much more suitable for you. It is worth thinking about what you feel is important to you so that you can make sure that you get the best loan and the best experience.