Can Payday Loans Help Pay Your Rent?

Housing is the most costly expense for most households. It shouldn’t come as a complete shock that some folks can’t pay their rent every once in a while. A family emergency, a loss of income, a global pandemic can be one of many reasons for someone to miss a rent payment. 

What if your rent is due this Friday and you don’t get paid until next Friday? A quick and easy solution is a payday loan. You may have seen a payday loan shop pop up in your local strip mall or payday loans online. A payday loan is exactly what it sounds like. It is a loan that you repay on your next payday. 

How Do Payday Loans Work?

A payday loan is a short-term loan based on your upcoming paycheck. Borrowers pay back the amount borrowed plus finance charges. A payday loan usually gets approval quickly, and the borrower provides bank account information and proof of employment. Once approved, (less than an hour most times) the funds are deposited directly in your checking account. For additional information, you can visit USDA map.

Other Ways to Get Extra Money

Don’t rely on a payday loan to solve your problems regularly, though. If you are in a rut with no money to pay your rent, it may be time to figure out how to earn additional cash. One of the quickest and easiest ways to make extra money is to sell things online. Sell books, kids toys and clothes, kitchen gadgets, jewelry, just to name a few. You can host a yard/garage sale. Get your neighbors involved, the more families involved in the sale, the more foot traffic you will see. Post lots of signs the week of the sale, sell anything you can! One man’s junk is another man’s treasure. 

Are you creative? Do you like art or photography? Get out your camera and take photos. You can earn extra cash by creating and selling travel content – these could be photos highlighting beautiful destinations. Sell your photography on social media by supplying photos to businesses or bloggers. 

Another easy and quick way to earn money – babysit, pet sit, house sit. Someone is always looking for help. Sitting is a great way to earn decent money and likely tax-free. Parents are always willing to pay well to ensure that their prized possessions are taken care of. There will always be a need for sitters – no-long term commitment with this gig. You can work the hours/days you want and be as flexible as you need. 

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