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The popularity of quick cash loans, also known as payday loans, is rising. Why? Because when you’re low on cash, payday loans give you access to the amounts you need fast, hassle free, and straight to your bank account. In this post we want to highlight 4 very important rules all borrowers should follow when looking for one of these instant payout solutions. Let’s start with:


  1. Never take more than you need

One of the main problems that people tend to have when they borrow, is being tempted to take more than you actually need. This can lead to a growing circle of debt if you fail to manage your money correctly. At Cigno Loans, we always encourage our customers to borrow the minimum level of funding they require to cover only the most urgent costs. This helps ensure they protect themselves from being unable to make repayments comfortably.  

We offer up to $500 to new applicants. If you take the full $500 even though you only need $200 to get you through to your next payday, you’ll have the constant temptation to spend the extra $300 that you’ve borrowed. This is one of the most impactful ways that credit cards tend to pull people into trouble. If you’re walking around with a limit of $2000 in your pocket, it can be pretty hard to shop sensibly knowing the funds are right there and very easy to use.

When you apply for a quick cash loan, you can specify the exact amount you want to receive. This means you can avoid the issue of temptation by taking as little as possible.


  1. Borrow from trusted companies   

At Cigno, we’ve been offering payday loans successfully for years and have developed a reputation for great customer service and reliability. Many others in the quick cash loans market are less established and this means they can sometimes resort to making offers that are far too good to be true. If you’ve been using the web for some time, you probably already know the basics of identifying false claims when you see them.

Most people go with market leaders because they come with an element of safety. How can you tell if a loans company if going to be reliable? There are a few sensible indicators to rely on. Do they offer a great customer support service? Try contacting them. If they’re very responsive and helpful, it means they have a dedicated help team. You can also check testimonials and reviews online to see if others have had good experiences with them.

If a vendor is unresponsive and doesn’t have any sort of online presence in the form of reviews or customer references, they’re probably not worth going for, even if their offers are extremely attractive.  


  1. Make sure you intend to make repayments exactly as agreed

When you take a quick cash loan, you need to be sure you’re going to be in a great position financially to make the repayments on time. This is where budgeting and effective money management becomes crucial. The better you plan your expenses against your incomes, the better idea you’ll have of the level of funding you should be asking for.

There are a few ways people can make extra money on the side if you are frequently running short on cash month to month. Increasing your income even by a little is a great way to decrease your reliance on credit cards and borrowing.


  1. Use the money for urgent purchases only

Ask any of your friends and they’ll more than likely agree that it’s never a good idea to spend quick cash loans on expensive luxury items. It might be common for people to go on huge shopping sprees with credit cards and their overdrafts, but that doesn’t make it the right thing to do. Dodge leaving yourself in large piles of debt by only spending money that you’ve saved and can afford to expense.

There you go! Those are the 4 most important things you need to keep in mind while you’re looking for a quick cash loan. Avoid the threat of debt and poor service by making sure you have your budgets planned and you borrow from the most reliable sources. 

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Read more about quick cash loans here, or in our previous blog post: 4 Things You Should Never Do With A Cash Loan