Advance Pay Day Loan
For Emergencies Only  

If you are anything like me, there are times when there never seems to be enough money. Money always manages to run out faster than it comes in. In the past, on occasion, I have had to turn to friends, relatives or use my credit card to help to tide over my cash flow problems. While it always helped me get over my problems temporarily, it sure succeeded in piling on a whole lot of debt. I happened to be discussing this with a colleague one day when he told me about something that made my prospects appear much brighter. He told me that it was just for situations like this that the concepts of advance pay day loans were offered by organizations.

I had never heard about this concept before. It certainly sounded like the advance pay day loan would be a real lifesaver to help me deal with my cash flow problems. I quickly  put in my application and waited for my next pay check to reflect the advance pay day loan from the company.

Instead, I got a call from our accountant. He sat me down and asked me a number of questions about why I needed the advance pay day loan. I tried to come up with some excuses (I wasn’t prepared to be grilled!) but they all sounded futile even to my ears. I had no real reason to ask for the advance pay day loan except for the fact that it was possible to ask for and get it. When I confessed to the accountant that I needed the advance pay day loan to pay off my credit card debts, he sighed, looked askance at me and gave me a lecture that I’ll never forget.

First, he told me that an advance pay day loan was meant for emergencies. He explained that not all of us have as much savings as we would like to have. We all need an advance pay day loan now and then to help us with sudden and unexpected outflows. These could include a death in the family, school expenses, sudden hospitalization expenses and similar sudden emergencies.

Advance pay day loans were not there to be given for any little whim because they could negatively impact the regularity of the salary. He then told me about the case of one other employee who had made a practice of seeking advance pay day loans on his salary to such an extent that he actually would not be paid a salary for another three months because that much had already been advanced to him. So now, rather than having to make do with what he got, he would be putting in three months or more of hard work for money to pay off his advance pay day loan! That shook me up and I resolved then and there that I would never seek an advance pay day loan unless I really required it!