What Payday Loans Can Do For You
GoDay.ca | Payday Loans Online
We’re going to be honest – there are definitely pro’s and con’s to getting payday loans. Sure, short term loans can give you that boost in cash flow, but weigh the consequences of borrowing before hitting any apply button, especially if you’re not sure you can repay on time.
While a payday loan company cannot ( we repeat, cannot!) ask you why you want to borrow, it’s a question we want to pose before you even consider submitting a loan application, for the simple reason that we want you to be aware of the differences between a want & a need.
Before you start slamming away in the comments box below, no answer is needed. It’s really none of our business what it’s for (and again, we can’t ask – and no other short term loan company should ever ask). But, what is our business is making sure that we’re lending, and you’re borrowing, responsibly.
That ultimately requires that you to ask yourself, “why do I need to borrow money”, whether it’s $300, $500, or much more.
We sat down with our super-human GoDay.ca loan officers and customer service representatives to ask them what the most frustrating thing that they experience on a regular basis is. Hands down, the answer was, “when people borrow more than they can pay back. It hurts us, but it ultimately hurts them”.
Weighing the risk you’ll be taking on when taking out any loan, whether it’s a bank loan, a credit card, a line of credit or a payday loan, it’s imperative that you determine the pro’s and con’s of the increase in cash flow, verses the fees and interest.
We get it – emergencies happen, and they are definitely time-sensitive situations where you simply need to do what must be done. However, our loan officers stress that cash flow shortages often seem to be caused by unregulated spending, spending that could definitely be reigned in.
“People don’t want to give up their little luxuries, which we understand. It helps get them through the day. But, loans aren’t free, and we have a feeling that many believe that we’re handing out free money. It’s not free – it’s a very expensive service, and we want our customers to know what they’re getting into before they apply for cash online“.
The comment on daily luxuries is a good one. Late last year, we offered basic tips to whittle down your spending and lower your credit card debt. Many tips listed there could be repeated here; stop going out for coffee in the morning, brown-bag your lunch instead of going out, car-pool once in a while to save on gas. If you find yourself only needing to borrow $100 every few weeks, chances are you might be able to tighten your belt in other areas.
Why would we be telling you this, you might be asking yourself? We’ve said it before, and we’ll continue saying it – it is far more important that you borrow responsibly and have control of your finances than anything else. If you need more than $100, awesome, we’re here, but make sure you really need us first.
Remember, if you need a short term loan before your next pay day, head on over to GoDay.ca to apply!
