Is a Paycheck Advance What You Need Now?

 Things come up, and you may find yourself needing a little extra to make it through the coming weeks. Is a paycheck advance right for you? We’ll tell you here.

An emergency doctor visit. The car engine blows out and needs to be completely replaced. The roof springs a leak, flooding your bedroom.

These events creep up on all of us eventually; it’s just a fact of life that we’ll have to weather some tough times.

But, what if you’re facing really tough times?

Maybe you’ve just been laid off or this is the second emergency room visit this year and the funds to cover the costs just aren’t there.

You’re not alone. In the past few years, more than 20,000 Australians had to declare bankruptcy.

All-out bankruptcy is pretty severe but sometimes it comes down to just needing to cover a gap in payments that can make all the difference.

You might not have the option to turn to friends or family and your credit cards might be maxed out.

So where can you go to find financial relief? Could a paycheck advance be the solution to your problem?

Debt: How It Happens

Needing a quick infusion of emergency cash isn’t that uncommon.

Although divorce rates are falling, it’s still a fact of life for far too many Australians.

It’s bad enough dealing with a broken heart; bringing money issues into the picture are just another source of stress during a hard time.

Financial woes are plaguing the healthcare system itself and those problems are likely to be passed on to citizens.

Imagine if your child needed emergency care.

You can’t put a price on their life and wellbeing, but that bill can take a toll on your bank account’s health.

What if you’re no longer drawing a paycheck because you were laid off? Losing one’s job is the most common reason Australians feel the pinch in their paycheck.

Right behind losing a job is racking up credit card debt.

The typical image of someone with a maxed out card is a dumb teen on a shopping spree, but it could just as easily be someone who tried to patch a gap in their finances and now the bills are piling up.

If you think the only damage in this situation is confined to a bank account, think again.

Debt has a devastating long-term effect on a person’s health.

Financial Woes Affect Mental And Physical Wellbeing More Than You Think

Personal finances are a significant cause of stress, anxiety, and depression for many Australians.

The mental and physical toll money problems exact is heartbreaking.

You might fall into a deep depression which leaves you unable to take action and get your finances under control.

The thought of all of those unpaid bills might keep you up at night, causing profound insomnia which then affects your waking hours.

You might lash out in anger, destroying relationships that are vital when you’re going through a rough patch.

Worse – debt can cause you to turn to self-destructive behaviors.

Those with money worries can turn to drinking or drugs to alleviate the extreme stress they’re feeling.

The relief you’ll feel pursuing a quick high or doing a few shots to “take the edge off” will fade and you’ll be in the same place you were before.

In fact, you might be in even worse shape – 41% of those struggling financially look to gambling to try to scare up quick cash.

As the saying goes, the house always wins, which means you lose if you go down that road.

The one thing that will alleviate the stress? Tackling your financial worries head on.

Take Control With A Paycheck Advance

It’s easy to slide into debt, but it’s easier than you think to climb out.

Have you ever heard of a paycheck advance?

It’s a surprisingly simple and quick solution to a temporary lapse in your finances.

If you’re hurting for emergency cash, a short-term loan, like the kind at Cigno, can make a big difference.

What sorts of things should you consider when looking into a payday loan?

First, make sure you consider all of the alternatives and get the short term loan lender that will best meet your needs.

A good rule of thumb to consider is if the service can provide you with money quickly.

That’s what makes places like Cigno so convenient – there’s not a long wait time before receiving the funds you need.

Plus, the application is quick and simple. There’s no time wasted when you’re signing up for an advance.

Another benefit of a paycheck advance? They’re easy to qualify for.

If you’re wondering who is qualified for a short-term loan, the answer is just about anyone.

Since financial problems can catch anyone unawares, there’s no judgment, just results.

Isn’t that a good feeling – having an easy solution to life’s money problems?

Use A Paycheck Advance Wisely!

The cash you receive should be for emergencies only! Don’t sign up and blow it on an unnecessary purchase.

Use your best judgment and make sure you cover only what you need to and don’t go further into debt.

Remember, eventually, the cash will need to be repaid. Don’t borrow more than you need; stick to what you need to get through the rough patch.

Make sure you can afford repayments, too. Fixing one financial crisis with another won’t help anyone.

Understanding the fees and interest is crucial.

Knowledge is power, so empower yourself to pull yourself up out of debt!

Don’t Let Debt Drag You Down

It’s so tempting to cry, lay on the couch or have a glass of wine too many when life throws a huge curveball at you.

It’s OK to shed a tear or two, but the thing that’s going to make the biggest difference is confronting your issues head on.

If you’ve got a cash-related worry rolling around in your thoughts, consider a paycheck advance to get you through to the other side.

The first step is often the hardest, so if you’re ready to tackle your cash problems, consider a short term loan.

Have you ever used a paycheck advance before? What’s your best advice for dealing with cash-related problems?

Let’s start a dialogue and together we can make debt disappear!

Disclaimer: Please be aware that Cigno Loans’ articles do not replace advice from an accountant or financial advisor. All information provided is intended to be used as a guide only, as it does not take into account your personal financial situation or needs. If you require assistance, it is recommended that you consult a licensed financial or tax advisor.