Payday loans are expensive and shouldn’t be taken simple because you want a new pair of shoes. By the time you pay back your loan, those hundred dollar shoes could very well end up costing you close to $300. While it doesn’t make good financial sense to take a payday loan for things that can wait, there are family emergencies that justify a payday loan. Here are five of them:
A looking utility disconnection definitely justifies a payday loan, but always try to work a payment plan out with your utility provider first. Many utility companies will work with you to help you avoid shut-off, but if you’ve already let it get that far, a payday loan can keep your lights on. If you do decide to take out a payday loan, make sure that you’ll have the money next month to pay both your loan and your utility bills.
If you don’t have health insurance, unexpected medical emergencies can put a tremendous financial strain on the family. A payday loan can help make sure that you or your loved one gets the necessary medical attention. To keep your costs down, consider visiting a clinic at your local Walgreens or CVS. A visit to these clinics costs less than $100, and the nurse practitioners are able to treat a wide variety of illnesses and injuries. If your medical emergency warrants it, these clinics can save you hundreds of dollars over a traditional doctor’s office or hospital.
While you shouldn’t take out a payday loan for routine car maintenance, a cash advance can get you back on the road if you’ve had an accident or your car needs a major mechanical repair. If you have access to public transportation, you may want to wait until you can save the money to repair your car rather than taking out a payday loan. If you don’t have public transportation available in your area, a payday loan can get you back on the road quickly.
4.Death in the Family
If a family member has a critical emergency or passes away, and you need to travel to be near them, you may need to rely on a payday loan to pay for your transportation costs. Do your best to look for the cheapest method of travel to ensure that you don’t need to take a loan so large that it’s difficult to pay back. If you have a few days to travel, it may be cheaper to take a bus or a train instead of an airplane.
Pets are members of our families, and when they have a medical emergency, it needs to be taken care of. While you may have money put aside for routine pet care, do you have the money to cover an unexpected emergency? If your pet is injured or suddenly becomes ill, your veterinary bills can add up quickly. A payday loan can ensure that your pet gets the attention that it deserves.
While it doesn’t always make sense to take out a payday loan, the above five instances justify a cash advance. If you find yourself faced with one of these situations, a payday loan can be an immediate solution to your financial troubles.
Jan Little is a full-time blogger living in London. She writes for payday loans uk where you can find information and promotions on payday loans.