Qualifying for a payday loan is easy but not for everyone. There are limits that come with payday loans even though everyone says how easy it is to get one. Every payday loan lender has their own policies and some are stricter than others. If you happen not to qualify for a payday loan or are looking into better alternatives, this article should help you.
Here are great alternatives to payday loans
You can pawn or sell things you do not need anymore. Use crag list, eBay and other online sites to sell things you will not need. It is worth it to sell things you do not have personal attachments to and are no longer useful to you. If you live near a pawn shop, you can take the items there for a quick exchange.
Get a side gig, there is plenty of ways to make money online. Earning extra money is always better than taking out a small loan. Remember, the payday loan comes with interest rates and a due dat. If you do not make the payments on time, the lender will add an additional amount on the loan until you clear it. Use your credit card to make purchases and payments on utilities and things you really need at home, then you can use the money you get from your paycheck.
Ask your employer for an advance. An advance is better than a payday loan because there is no extra loan fee imposed and it is not a loan trap. Talk to your boss or someone in the human resource department about getting an advance on the next paycheck. Getting an advance will lower your pay check but is definitely better than the payments on the interest rates on a payday loan.
Make an adjustment in your tax withholding. Having some extra money withheld from your paycheck means that get a bigger tax refund but it is not so good when you are living from paycheck to paycheck. You can use a tax withholding calculator to figure out how much money you need to withhold so you can have extra for your paycheck and use that money instead of asking for a payday loan.
There are local organizations that give out loans to the locals as a handout. To find out if you can get in contact with such, talk to the local department of human resources in your city or state. Emergency assistant programs can come in handy for people living from paycheck to paycheck.
Borrow money from family or friends. If you have to ask money from a payday loan lender, it means that you do need loads or an excessive amount of money. It is something that a family member or friend can handle so it is worth a try. Keep in mind that borrowing from family members and friends is tricky, it could lead to broken friendships. Make sure you intend on paying back the money, fast or you could end up with a situation that is worse than getting a payday loan.