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Avoid Cash Advances

Struggling to make it to the end of the month? You need a plan!

According to Forbes, some new apps are making it easier for people to get cash advances. Dave, Earnin, and MoneyLion promote a radical change in American financial services. When your paycheck arrives, the apps deduct any money you took out and deposit the rest. They function without fees but hope you’ll leave a “tip” in addition to your monthly fee.

Now the cost is less than a cash advance on a credit card where upfront fees can run 3% to 5% plus APR of more than 20%.

Cash advances can often be avoided by careful planning. But that starts before you ever get your paycheck.

So here are a few of my tips:

Stop buying things you can’t afford! That means knowing the difference between needs and wants. Needs include food, shelter, basic clothing, transportation, insurance, and child care. That nice leather handbag that you found on Instagram is not a need! In fact, most things advertised on social media do not meet the “need” requirement. So take a break from social media and see how it affects your checkbook. 

Stop using your idle time to shop. Instead, look around and see what you can sell, or take on another job. The fastest way to get ahead is to cut expenses and increase income.

It’s that simple. You might benefit by finding a wise mentor to walk alongside you.

The Bible says: “The plans of the diligent lead to profit as surely as haste leads to poverty.” (Proverbs 21:5)

And if you’re needing cash advances to pay your credit card debt, then get in touch with Christian Credit Counselors. They can help you make a pay-off plan and learn how to avoid debt in the future. You can learn more at or call the Crown Help Line at 800-722-1976.