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Cash Advance Loans Are Not The Last Straw to Blame

When a person applies for cash advance loans, whether online or at a storefront, the person’s financial situation is already failing. It can be assumed that there is no savings account, credit cards are maxed out and credit history is too poor in order to be approved for new lines of credit. Financial emergencies or overspending still create bank account problems and people are seeking some sort of solution with a short-term loan. Consumer advocates would love to see this alternative option disappear from the list of options.

Do cash advance loans push financial problems over the edge?

You know that saying, ‘the straw that broke the camel’s back’ – it’s a great metaphor for online cash advance loans. You can blame that last piece of straw which was piled on top of the camel as the cause for his back breaking, but in reality, it’s the weight of all the straw and whatever else is on the camel’s back which carries the bulk of the problem. One more ounce of anything would push the scale over the top and send the camel crashing down to the ground. Finances carry burdens in a similar way.

What happens to struggling bank accounts when short-term loans are brought into the equation? It would probably depend on why a person needed to find an alternative money source in the first place. Oftentimes, this loan is the last straw needed to push a person’s budget over the financial edge. Once a budget is in disarray, which way can the blame be pointed at? We know that the last culprit was when the cash advance online loan application was filled out and approved, so the short-term loan is blamed for the financial mess.

We can put it all into perspective and say that a cash advance loan is more harmful than a piece of straw, but it certainly is not the cause to a person having financial difficulties. If the budget was problem free then the cash advance would never have been used in the first place. It is imperative for a person who does not have a surplus of extra cash coming in each month to have a well-working budget. Even for those who have money, if they don’t pay attention to their expenses and spending habits, they will be wasting quite a bit of cash.

If you don’t know how to create or manage a budget, you will want to seek out assistance. A budget is a critical piece to money management. It defines money coming in and controls money going out. The major key ingredient for a successful budget is the person using it. It takes hard work and dedication as well as monthly maintenance in order for a budget to remain balanced. Financial situations are always changing. The biggest changes are found in how much is spent in each month on regular living expenses or ‘extra’ spending.

Those who make necessary changes according to the flow of the budget will find themselves less likely to apply for a cash advance online loan and more likely to be working at building their own personal emergency account.


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