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Advance Cash Loans Aren't All They're Cracked Up To Be

It can be really tough to balance your check book sometimes. Anyone who has to get by on a pay check often finds that the money runs out before the bills do. For the longest time, I thought I must be the only one in the world that didn't know how to manage money. It seemed I was always without cash whenever I needed it. Many times I borrowed money from friends or family. Other times I used my credit card to get cash, which put me in debt up to my eyeballs and I couldn't seem to get myself out of debt and I couldn't get the bills paid either. I was talking about this with a friend recently and he told me about how to get an advance cash loan. He said that an advance cash loan was just the thing for a situation like mine and that I could get an advance cash loan from several companies. I found that my own employer offered an advance cash loan as one of its employee benefits and the loan had pretty good terms, too. Once I found out about that, I quit running up my credit card and quickly put in an application for an advance cash loan from my employer and waited till my next pay check, which would reflect the advance cash loan.

But the loan never appeared on my paycheck and instead I got a call from the company's accountant. He called me into his office and asked me why I needed the advance cash loan. I tried to come up with some explanation that would really convince him that I needed the advance cash loan, but they didn't even convince me. I just wanted an advance cash loan because I could apply for it and get it. When I admitted to the accountant that I needed the advance cash loan so that I could pay off my credit cards, he shook his head and gave me a lecture that I'll never forget.

He told me that an advance cash loan was really meant for emergencies, like if I suddenly needed to replace my refrigerator or get my car repaired. He said that hardly anybody at the company had as much in savings as we should have and occasionally someone needs an advance cash loan to get them through a difficult time, like when my so-worker Fred had a death in the family and needed to fly to California for the funeral. Advance cash loans were not revolving loans, he said, which could be used for whatever a person wanted to use it for. If the company loaned out money like that, he said, it may get difficult to make payroll because all the company's money would be tied up in loans. The accountant then told me of one employee, who he wouldn't name, who had borrowed so much in advance cash loans that he wouldn't get a paycheck for three months. He had borrowed so much that he'd have to work for free for three months just to pay off the cash advance loan. That really woke me up and I decided on the spot that I absolutely would not seek an advance cash loan unless there was no other way to go.