Cash Advance Tips To Save Velentines Day

Is Valentine's Day a PayDay Loan Day?

It's that time of year again-when birds sing, lovers dream, and the growers of roses and makers of chocolates rake in a fortune. Valentine's Day is almost here! It's a treasured celebration of love in all its forms, when people look deep into their hearts...and shell out cold, hard cash in recognition of a culturally-mandated holiday. If you're a romantic at heart, you've already planned the seven course feast, the luxurious suite, and the six-foot tall Cupid ice sculpture. Or, if you're living in the real world, you've decided on a well-thought-out and meaningful gift to show the person you love just how much they mean to you.

As we all know, finding a special gift to demonstrate your love is time-consuming and, above all, expensive (even when diamonds and ice carvings are off the table). Regardless of where you fall on the believer/cynic scale, you have people in your life that mean a great deal to you, and you want your gift to show them that. The usual gifts just won't do: the flowers wilt in a week, the chocolates all have flavorless "creme" inside, and that homemade construction paper card in the shape of a heart is a little underwhelming.

So you've done your research, chosen The Perfect Gift, and headed for the checkout line when you realize you've forgotten one thing, if not the most important thing-the number in your bank account. This is what we call an RFA: a Rude Financial Awakening. No one needs to bankrupt themselves for a romantic gesture but what are your options when you've found the one gift, the right gift, the only gift that will do?

A Love Question?

Take part in our Valentines how much love cost Poll. If you find a Cash Advance Lender to work with and use our matching application form process we will send you poll results and you will be entered to win ***$500 to help pay for your Valentine.

Cash Advance Tips To Consider

  • Step 1: Consider your other options! (First, seriously ask yourself: do you have to get that gift right now? If you really, really do, keep reading.) Are there any other sources of income you can tap into at the last minute? Can you replace the gift with an overseas-manufactured knockoff and hope he can't tell the difference? If you can't pick up an extra shift at work, borrow from a friend, or get an under-the-table loan from Great-uncle Maury without your mom hearing about it, a short-term loan from a reputable lender is a viable option.
  • Step 2: Research your lending choices! A short-term loan is like all others, in that you borrow a set amount of money now when you need; the lender charges a fee and/or interest rate on that amount until you pay back the entire amount you owe. The penalties for being late or unable to repay that loan can become a Big Problem very quickly, so it's crucial that you understand the agreement you make with the lender.
  • There are three kinds of short-term loans: payday loans, installment loans, and cash advances.

    1. --Payday loans let you take out a small loan to be repaid in the immediate future; people usually borrow against the amount they will earn in their next paycheck. When they get paid, so does the lender, for the amount borrowed and an additional fee. If the borrower can't pay back the loan on time, the lender charges another fee or raises the interest rate on what the owe. This can get very expensive very quickly if the borrower can't repay the loan right away.
    2. --Installment loans, also called personal loans, are usually larger than payday loans but are not big enough to, say, buy a new car or a house. The repayment process is longer and can be over months rather than weeks; this removes some pressure from the borrower to immediately find the money to repay the loan.
    3. --Cash advances are exactly what they sound like-some credit cards offer this kind of loan, where the borrower takes out a small-to-moderate amount of cash at a high interest rate. Borrowers need to have an existing credit card account, and not all companies offer this service.
  • Step 3: Create an exit strategy! Before you borrow, remember-V-Day comes but once a year; loan repayment schedules can last a lifetime. While it may seem like the gift is worth the risk or tax of a loan, don't take one out without a plan to pay it back. (Your girlfriend will be pretty unhappy if she has to give back her diamond solitaire because you couldn't make the payments.) Short-term loans are typically used when people know they have money coming to them soon but have to pay for something important before that happens. Because the fees, interest rates, and late penalties can stack up quickly, borrowers should stick to small loan amounts if they choose this path.

--Important note: The amount of money a Payday lender offers, and the interest rate, depends on the lender and the borrower. This is why it is important to compare offers from different Cash Advance lenders, to research other people's experiences with those lenders, and to read ALL fine print before you sign your name anywhere. For more information on short-term cash advance loans and lenders, go to Lender Reviews. Check out our database of lenders, compare loan rates, and read reviews from other consumers.
P.S. Don't forget to leave a review on the lender you decide to get a cash advance loan from.

***If applied for a loan, you will not need to qualify for the loan to be part of the poll winnings.