It can be frustrating, paying for Christmas, especially as we approach Blue Monday. Blue Monday is (as always) the last Monday in January, so named because, well, everyone hates the first day of the week anyway and, for the majority of those in employment in the UK, we have not been paid since a week before Christmas. And there’s still over a week to go until the 31st! Aargh!
For many households already struggling to stretch their monthly budget in the face of swathing cuts made by the government this January has just been a bridge too far. Pounds gained on the belly but lost from the wallet serve as a reminder that the cash you were careless with is now taunting you from your waistline.
To make matters worse, there is always that one direct debit that goes out the week before the end of the month; you’re sitting there now so tempted to go withdraw that money to beat that direct debit to the last of the cash, yet you know it will mean going into your unauthorised overdraft. But you look in your purse or at the crumbs of tobacco in your tin and ask yourself: is that going to last until payday? Honestly, no.
Instead of being charged £5 or £10 a day for straying into the red, why not take out a instant cash loan? This has four actual advantages. Yep, true – it can be advantageous to take out a pay day loan.
1. Firstly, the obvious reason – you have a bit of cash in your pocket and you’re not going to go over your limit
2. The interest you have to pay back on a short term loan of this nature is often less – yes, less – than what you’d expect to pay for the daily charges of going into the red on your overdraft. Don’t be put off by the interest rate if it says 4,124% APR – look at the actual amount you have to pay back as a figure, then work out much you’d be charged by your bank for being overdrawn outside your authorised limit at £5 or £10 per day.
3. People often think: If I have an instant cash loan, I’m only going to be as short next month. The term ‘payday’ can be misleading. Many online lenders now let you pay back in monthly installments to suit your capability. It is worth noting, though, that the longer you take to repay, the more you will pay back in interest; again, run the options and see which cash advance suits you best, and be honest with yourself. Only take out the amount you need and stick to an affordable repayment scheme.
4. By paying back on time, every time, you are actually improving your credit rating, bad credit often being a reason people don’t consider short term loans. Many short term lenders who provide a payday cash advance are only concerned that you can meet the repayments you set based on your current circumstances and do not look at your poor credit history.
So, what are you waiting for? Instead of knowing how Blue Monday feels, apply for your instant cash loan now and have the money in your bank account within 24 hours, providing you satisfy the lender’s criteria, obviously.