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A Woman Plus A Cash Advance Does Not Equal New Shoes

payday loan for shopping

A PEW study showed that women are more likely to obtain a cash advance than their men counterparts. PEW is a nonpartisan research center that surveys the public on a variety of issues and topics. First impressions would get a reader to believe that the shopping habits of a woman are what promotes the need for short-term loans. I’m sure that shopping could be one of the leading problem areas for women in many instances. But not all men like football, and not all women like to shop.

Why Else Does A Woman Apply For A Cash Advance?

I, for one, am not a shopper, but I could see myself having to lean on a cash advance lender when times are rough. What would put me in that position? A paycheck reduction would place my finances in a challenging position. Likewise, many variables could help or hinder my financial situation.

  • Do I have any available credit? Paycheck to paycheck living does not give much leeway to pay down debt. Depending on how many other money emergencies I have had in the recent past may be the deciding factor in whether or not I will need to fall back on short-term money. If I don’t have any room left on credit cards and my credit history does not support new lines of credit, I will need to quickly find a cash solution.
  • Do I have a family member or friend who can help me? That is a tough one for me. I tend to be a bit stubborn and only want to ask for help when I am in significant trouble. There is a price to pay for pride.
  • What is in my savings account? I can’t call it a savings account since money does not stay there for very long. It is a place to pack away extra for those unexpected costs. This is my one pure saving grace, which has kept me away from cash advances in the past. My deposits may be in increments of $5 to $50, and it varies week to week. As soon as I use the money, I focus on repaying it before the next demand creeps up.
  • Kids! They are costly ones. I have their food and snacks included in the budget. I even try to plan clothes shopping to prevent needing credit cards for those purchases. It’s tough when they have a growth spurt. It means I have to go back to the store two months after my original trip. Ouch! Thrift shops help, but 50 dollars is still money that has to come from somewhere. Let’s not even discuss the fees and gear for their sports and extracurricular activities.

Cash Advances For Too Many Expenses

How many days off do I have to take because of the children? How many paid sick days does that leave me for when I come down with some illness myself? A trip to the doctor and miss work? I can see my future budget problems already. Let’s hope it all doesn’t fall in line with the quarterly insurance premium payment or a month when the AC gets used.

Some women do not spend their days at the mall. Many can’t remember the last time they got their nails or hair done. Stereotypes for women and spending would portray us all walking out of the mall arms full of shoes and cosmetics. That picture does not paint an accurate portrait of a woman who leans on a cash advance lender to help support her family

What’s Really In My Shopping Bag

Last night, my shopping bag contained medicine for my sick child, a thermometer to check his fever, and ingredients to make him soup. That $40 has to be figured into my slim budget. It’s the day to day living of life that can force any head of the household to use their credit or cash advance to make ends meet. Many of you understand that when it rains, it pours. There are seasons where unexpected expenses come all at once. I would say that fast emergency cash through a payday loan is warranted. Just make sure that the short term loan is kept short! The longer it takes to pay that loan off, the more finance charges add up. Be smart with taking out those cash advances. No to the new shoes, but yes to the car repairs or children’s medicine.

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