Although payday loans aren’t the only way to access quick cash, countless employees turn to them in their time of need. However, once faced with towering interest rates and rapidly approaching repayment dates, they almost always find themselves trapped in an inescapable borrowing cycle. So, to help workers avoid the strains and pains of payday loans, we’ve gathered our top five alternatives.  

Payment Plan 

Lenders would rather stretch out a payment cycle than risk not getting paid at all. So, if you’re unable to come up with the full amount due on any of your bills, ask the creditor if you could negotiate a payment plan that suits your income. Payment plans can set up lasting solutions that prevent you from having to damage your credit with a deceptive loan plan. 

Yard Sale

You don’t always have to borrow or advance a cash payment to satisfy your income until the next paycheck clears. Consider setting up a yard sale to clear out your closet clutter and make a few extra bucks in the process. Of course, you probably won’t make an entire paycheck’s worth of cash by selling your used items, but yard sales are a great way to make a little extra money with no strings attached. 

Social Media

Even if you don’t have enough items to justify setting up an entire yard sale spread, you can still sell your items for quick cash. Consider using social media sites, like Facebook or Craigslist, to post your goods online and easily make a profit. Or, use your social media to ask your close connections if they have any odd jobs available that you could take advantage of. 

Credit Card

It’s easy to abuse the financial options a credit card can provide, but responsibly using them as an alternative to payday loans can be a strong option. Credit cards typically come with a fraction of the interest rate of payday loans, and you aren’t required to pay the full amount due when your statement comes. However, to prevent your swiping from becoming a financial issue, you should try to pay off as much of your credit card balance as you can each month. 

Financial Consultants

Don’t let the advertised incentives of payday loans draw you into a bad borrowing situation. If you need quick cash but aren’t sure where to turn, you can trust the consultants at Progressive Debt Relief. Our financial team can find the right solution to protect your financial future while getting you the quick access you need. For more information, call us today at 1-877-590-1847.