Before you apply for a Cash Advance

Please consider the following before committing to a cash advance: a cash advance on your wage can be a great way to help you out of a tricky situation, such as paying a power bill, avoiding repossession, keeping the phone connected or avoiding dishonour fees. However, these are short term cash advance loans only and should only be used as such. They should not be used as a permanent solution to a serious debt problem.

Cash Advance Considerations

  • Ask your creditors for more time to pay your bills, but remember to find out what they will charge you (if anything) for this.
  • Talk to your employer – ask them if they will give you an advance on your wage – it’s free
  • Ask friends or family if they can lend you some cash – again it’s free
  • Learn to say no: Just say “no” to more stuff.
  • Practice conscious spending: If you can’t come up with at least two concrete reasons why you are buying something, put it back.
  • Institute a waiting period: From three days to a month, sleep on a purchase.
  • You might decide you don’t need something after all.
  • Comparison shop: Make it a habit to look for better prices elsewhere. Before you buy, find out if you can get a better deal elsewhere by looking online, or at another store.
  • Automate your savings: You can’t spend what isn’t there. Automate so that you save money in an emergency fund account first thing each month.
  • Track your spending
  • Cook at home more often: but if you do have to go out for a meal make it lunch rather than dinner – its usually a much cheaper option
  • Consolidate and pay off debt asap

Helpful sites

www.sorted.org.nz

www.cashcontrol.co.nz

www.simplyloans.co.nz – Debt Consolidation

Can’t Wait Ltd cash advance loan costs are 10% – 40% lower than that of most other New Zealand online payday advance companies.