Are payday loans new to you? They can be quite helpful, in making your budget “budge” just a bit farther during those weeks when things seem a bit tight. Some people feel a bit shy about asking about something that is new to them. Well, don’t worry – we have all of the helpful information you’ll want to know, so you can easily use payday loans with confidence.
Lots of people use payday loans. They are perfect for hardworking professionals who just need a little extra help. We all can have that unexpected bill that pops up every now and then. Whether it is something frustrating, like a car repair or a medical bill. Or perhaps it is something fun, like you’re invited on a weekend vacation with your friends and you just don’t want to miss out. These great payday loans certainly know how to give you a bit of a breather every now and then. So it’s important to know how to use them so they are as helpful as they can be to you.
With our helpful tips, you’ll quickly learn how to get a payday loan and what to do next!
1. Begin by determining exactly what you need your payday loan for. One of the best things about payday loans is that your lender is not going to approve of it based on what you need the loan for. So whether you want to buy a sports uniform for your child or pay a medical bill, every need or want is considered just as important – but it’s also your personal business. So sit down for a moment and think about what you need this payday loan for.
2. Now decide on a dollar amount you want to borrow. The highest amount you can borrow is your weekly paycheck, which is a very generous limit. Remember, this is a payday loan and is meant to get you to your next payday. The amount you borrow should depend on what you need the money for.
3. Choose a place to get a payday loan. Today you’ll find there are quite a few helpful places to get one. There are online sites, where you can get a loan in just a few mouse clicks. You can find brick and mortar stores that offer payday loans too. So now is the time to think about where you will get your payday loan. Try asking family and friends where they have gone for a payday loan, as they may have recommendations for you.
4. At most places to get a payday loan, they have a very simple screening process – they will confirm that you have a job. That’s it! Usually they will want to see your current paystub. Then you will have your payday loan. So the process is quite quick and simple. Getting a payday loan is just stress free. It’s an easy way to pay a bill when you’re in a pinch. So no matter what you need the money for, you can feel confident that it is right there exactly when you need it – especially if it is between paychecks.
5. Keep in mind that your payday loan is due 14 days from when you borrowed, which should be your next paycheck. Write this day down on your calendar. Now you’ll always want to keep track of the due date for when you need to pay back your payday loan. It’s so helpful to take out a payday loan and great they are there when you need them. So you’ve got to take care of them, by paying them back on time the money that they lent you.
6. Plan your upcoming budget so you are prepared to pay back the payday loan. This is a very helpful tip. If you’ve taken out a payday loan, remember to look at your upcoming budget so you’re prepared to pay it back. Payday loans always have interest, typically about 20 to 35% of the amount of your loan. So you’ll want to include that amount in the total that is due you need to give them too.
7. Remember to pay your bill with the payday loan as soon as you can, as you’ve received the money quickly! Now this is something some people actually have a bit of a challenge with – they’ll get a payday loan to pay a bill and then they’ll have the cash in hand and decide to buy something frivolous like a cute pair of boots. Which gives them a bit of a cash crunch because they still haven’t taken care of that bill! So be a bit firm with yourself, and pay that bill you originally got the payday loan for. If you did get the payday loan to get a cute pair of boots, well, then just enjoy them!
8. Now, when you are paid with your next paycheck, pay back your payday loan. Your payday loan is always due 14 days after you take it out, basically in 2 weeks so they know you are guaranteed to get paid. The very first thing you should do, after smiling because you’ve been paid – is to pop out and to pay the payday loan company their money back. Because they helped you out in a tight spot. They made it possible for you to buy your child’s sports uniform for school or go on that weekend vacation. Don’t they deserve to be paid back and on time?