Most people think that students lead carefree days filled with fun. But today’s students are often quite hardworking and helping make their own academic dreams come true. Sometimes unexpected bills come up, a great solution some turn to is a payday loan. Payday loans give you money until your paycheck comes in. So it’s best to help you out of a bit of a tight spot. Let’s discuss payday loans, to see if they are the right choice for you if you’re a student. Just answer the following questions in our self-quiz!
A payday loan is an excellent option, it’s important to use it properly. Students are often quite hard working and have excellent work ethic. Today’s students are often paying their own way through school and this can be challenging. So unexpected bills can arise sometimes. The option of taking out a payday loan can provide tremendous relief to any student. It’s important to realize how they can help you.
1. I’m in school but I also…..
a) Work full-time
b) Work part-time
c) Work when I can
d) Play sports
Do you know what the correct answer is? Well, it could be a, b or c. It’s great that you play sports while in school, but in order to get a payday loan, you need to give the creditor confidence that you can pay the money back. Keep in mind that either a, b or c could be correct, as long as you’ve looked at your budget and realize that you will have the money to pay the loan back coming in by the due date. If you have any questions about this, ask the company that gives the payday loans.
2. I need a payday loan for….
a) Holiday gifts for my family
b) Spring break vacation with my friends
c) Dental work not covered by my insurance
d) Don’t ask! I just need it!
Students can obtain payday loans for many reasons. A payday loan can give you money, when you’re waiting for your paycheck to come in. It can help stretch your budget just a little further. Yes, it’s a great choice if you want to buy holiday gifts for your family and don’t quite have the money. Because we all should show our loved ones that we care. It’s also critical if you need dental work not covered by your insurance, it can keep you from being in pain for a longer time because you don’t have the money. Answers B and D are something to think about, because that’s a bit more about splurging and spending money on something you more want and don’t quite need. Now, if you’d planned to go to spring break and only needed a little more to pay off the trip, then a payday loan could be a great option.
3. If I’m having problems paying my payday loan I’ll….
a) Call my parents and family, ask them for help and advice
b) Contact the payday loan company and explain the situation
c) Go to my boss and ask for more hours at work
d) Hide under my bed
Now, no one likes to think about taking on a loan they can’t afford! But it happens to some. That’s why it’s important to think about how you plan to pay it back, even before you agree to the loan. Answer C is a great option, because if you are working more hours, then you’ll earn more money to pay back the money. You may be able to try Answer A, asking your parents and family, they may be able to help you. One very important thing to do is Answer B, to contact the payday loan company and explain the situation. Even if you are still trying to figure it out, or you went to your boss to ask for more hours (Answer C) but you haven’t worked them yet, it’s important to keep the company informed of what you’re doing. The worst thing to do is to hide under the bed!
While students were not the original audience for payday loans, they are certainly utilizing them as a budget tool. If you’ve used payday loans, then you realize just how helpful they can be. They can make the difference between having the money for a plane ticket home to visit your family at winter break or staying in the dorms through the holiday season. Or it can help you buy a great suit for that important job interview or internship. It’s important that you use them wisely, just the same way you would a credit card or even a loan from a parent.
Don’t miss out on the helpful opportunities that payday loans can offer you. Especially if you are working through school and there are times when you need a little help between paychecks, that micro loan can make a huge impact. When you start a new class and realize that a textbook you must have costs $200 and you can’t buy a used copy, it’s time for a payday loan. Payday loans can give you a huge sigh of relief sometimes.
Your student days are going to fly by. Enjoy them while they are here and make the most of them. Aren’t you glad there are payday loans here to help?