There are very few individuals who actually believe that there are circumstances when it’s okay to get a payday loan. We all know that they are generally a bad idea, but when you find yourself in a situation where you need money to eat and have seemingly no other options, they become much more of an attractive idea.
You might see an advertisement for a company like National PayDay Loans and consider just getting one to hold you over until the next paycheck. They are nothing more than a temporary fix. You’ll get your paycheck sooner, but you won’t get as much money, and now that paycheck has to last a longer period of time. You’ll find yourself in a similar situation two weeks from now, and you’ll get stuck in an endless cycle of payday loans.
Payday loans won’t put you in any better of a financial situation, they’ll only hurt you even more, because now you have to pay ridiculous amounts of interest on your own money. There are always alternatives available, and you should never accept that a payday loan is a viable option. Here is a list of alternatives to payday loans if you absolutely need the money to eat and buy gasoline for your car until the next paycheck.
Family: You’ll have to swallow your pride for this and just about every option, but you’ll be able to put food on the table and have gas in your car so that you can go to work. Your family loves you, and probably will be willing to help you if you ask and have a genuine problem that’s out of your control, such as a medical bill, a job loss, or an automobile accident.
If you have a history of financial misbehavior and have not learned your lesson, chances are you will find little sympathy from your family. It’s understandable if you’re in such a situation once, but when you keep doing bad things with money over a long period of time, you shouldn’t expect sympathy from your family.
The Local Church: There’s a biblical mandate that churches should help the poor and the widows, and most do so. If you’re a member of a local church, there’s a very good chance that they will help you. If you walk into a church that you’ve never been to before, there’s a pretty good chance they’ll turn you away. There’s so much fraud in this area, most congregations are hesitant to help random people off of the street. If there’s a church in the same denomination as yours, but not in your hometown, they might be willing to help you as well.
The Food Pantry: Most communities have food pantries to stop starvation. You’ll probably feel a bit ashamed to have to go to this length, but at least you will have food in your stomach. The food probably won’t be your favorite, and you might have to eat a lot of soup during the week, but you’ll have food in your stomach, and that’s better than getting a payday loan.
Friends Getting help from friends is very similar to getting help from your family. They’ll have a lot of compassion if you’re genuinely in a sticky situation that’s out of your control. If you’re just out of money because of continued bad choices with money, expect little sympathy.
Sell Stuff: Chances are you have some stuff that has a value, this could be a television, a computer, a bicycle, a CD collection, or something else. Chances are there’s a pawn shop somewhere in town or someone who would buy some of your items. You might not get the best price for them, but at least you’re not borrowing money at 400% interest.
None of these are perfect options, but they’re all better than payday loans. Just please don’t borrow any more money. Don’t borrow money at the time you can least afford to pay the money back. There are always options, even if they aren’t the easiest to do emotionally. A payday loan might seem like an easy way out today, but a month from now, they’ll beat you up even more financially. They’re just not the answer, there’s always an alternative.