How to avoid renewing or postponing your cash advance

Payday loans with cash advance are expensive, so it’s a good idea to make sure you can pay them off before signing along the dotted line.

If you cannot meet this agreed upon due date, you have the option of renewing your loan. It can seem like a great backup when the going is tough. But not only do you have to pay a fee for the lien, but you will also earn additional interest during the extension.


Since your cash advance already comes with high fees as a bad credit loan, you’ll want to avoid this at all costs. Here’s how:

Know your budget before looking for loans

Before taking out a loan online, you need to know how much money you can afford to borrow.

Sit down with your budget to get a feel for your cash flow. The money you have left over after you’ve paid off the essentials is what you need to spend on your loan repayments, which is the upper limit of what you can afford when you take out cash advances.

Finding Alternatives to Payday Loans With Cash Advance

Many people take out a payday loan because they think it is the only option available if they have bad credit.

It is true that bad credit will limit the number of borrowing options you have. But you have more options than payday advance loans. Some online direct lenders offer installment loans for bad credit, too.

Bad credit installment loans can have similar fees to payday loans, and you might find it just as easy to qualify. The main difference is the time you have to pay off what you owe.

Bad credit installment loans spread out your payments, so you don’t have to pay it off all at once. You may have several months to pay off your loan, which can give your budget a bit more leeway.

Reduce unnecessary expenses

Normally, your spending plan should be budgeted for fun. You have to splurge on things that you love that make life worth living. But you should put this “rule” on hold every time you take out a cash advance.

By reducing the weight of your budget over the life of your advance, it may be easier to reach your next due date and avoid the delay.

You would be surprised at how much money you can free up by making smart changes in your spending habits.

Tips for reducing unnecessary expenses

  • Cancel subscription and streaming services until you pay off what you owe
  • Switch to an online banking to avoid paying bank charges
  • Stop taking take out by following a meal plan
  • Ban alcohol for the duration of your tenure to save money
  • Make coffee at home if you splurge on Americanos and lattes

Tips for limiting essential expenses

  • To kiss a vegetable diet rich in legumes to save rising meat and dairy prices
  • Switch to a cheaper insurance company if possible
  • Reduce your energy consumption to reduce your electricity bills
  • Adjust your cell phone plan – switching to pay-as-you-go could save hundreds
  • Carpool with co-workers or on foot, if you live close enough to work

Takeaway meals

A rollover makes you pay more money on an already expensive borrowing option. To save your money, research your alternatives and use your budget strategically. These tips will help you avoid a rollover.