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By Samuel Odeyenuma

Are you among those people who find themselves in quick need of cash, before the next payday and get help from a cash advance?. Cash advances are quick and easy sources of money but must be viewed with caution as a lot of people are falling into ‘cash advance dependence’. Unfortunately, there are people who rely on cash advances too much; they apply for one every time they are low on cash, instead of waiting for their next payday. These people go to cash advance companies and apply for a cash advance loan just to keep going until their next pay check, rather than using careful budgeting methods to avoid money shortages and to save money long term.

If you do not want to file for bankruptcy in the long run because of your addiction to cash advance loans, take these few tips as a guide to preventing a financial disaster:

1) You must understand that fast and easy cash advances should only be used for a cash emergency. Never use the money to purchase luxuries as you abuse the opportunity to your own detriment.

2) Think before you make the decision to get a cash advance. Be sure you can make the repayments before applying for a cash advance loan. Try to avoid borrowing large amounts.

3) Because most cash advance companies have a ‘no credit policy’, its even more easier to get addicted because you can loan money from more than one cash advance company. Avoid this. You end up having a higher debt to pay as the interest on the cash is very high. Only borrow from one cash advance company at a time.

4) Before you sign that contract, check the small print and remember the most important little pieces of information that they want to hide are in that small print, so read carefully. There is no going back when you put pen to paper and receive that money.

5) Rely on a budget, not on a cash advance. Create a budget and stick to it so you can make your repayments. Factor cash advances into your budget, and like I earlier mentioned, use only when necessary and come to a rational decision.

6) If you are in debt, seek help as soon as possible. Go to a financial advisor, your banker or from a private advisor; they can help you plan your way towards being debt-free and put you back on track.

7) Remember, cash advances are not to be blamed for your human weakness. You have to work to overcome your weakness regarding proper management of finances. Never let money control you.

When you finally break free from cash advance dependence, you will feel better. It is hard to break the habit which is why you should start now and look for a more sustainable financial solution for the future.

About the Author: Samuel Odeyenuma is a freelance writer and expert on personal finance and investment advice. For more helpful information on your personal finance, please visit

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