Home » Income » Up To $5000 » Should You Use A CASH ADVANCE To Start A Business

Should You Use A CASH ADVANCE To Start A Business

Some people think they should use a cash advance to start a business. It’s sad to me that they don’t understand that a cash advance will harm them. Using cash advances will harm their credit score if they don’t pay them on time.

Most cash advance programs are attached to your paycheck and this way the company loaning you the money is assured that they will get their money back.     Cash Advance

Another way Cash Advances are not so great is that you are not getting any extra money to help you. You are really getting less money to make things happen then you had before you got a cash advance.

When you apply for a cash advance you are pulling your future paycheck into your presence. Not extra money! You are using the money that is already not helping you to pay your bills and applying it to today’s bills. But there will be a tomorrow and it will come with bills and you will not have the money you need because you used it up today. Not only that each cash advance comes with you paying interest. That’s extra money you are taking from your future that is over and above the loan amount money, you borrowed from your future.

Your future self should come back and beat your butt for doing this.

Example:

you make $1000 a week

You decide that you need a cash advance to cover some bills. Let’s say $400 with an interest rate of only %5 a week. That’s $20 a week interest = $80 a month. Let’s say the company gives you 8 months to pay it back. That’s $640.00 plus the $1000 = $1,640.00 you now need to pay back in 8 months. This means that you are paying the loan company $205 every month from money that already does not meet your needs.

The truth is my friends a cash advance is really not a great idea to use to start a business. However, I understand that no matter what I say there will still be people out there that think they know better. So here is the best cash advance program I know to help those who still want to use such a program.

 

 

 

,

Leave a Reply

%d bloggers like this: