How to avoid renewing or postponing your cash advance

Cash advance payday loans are expensive, so it’s a good idea to make sure you can pay them back before you sign along the dotted line.

If you cannot meet the agreed due date, you have the option of rolling over your loan. It can seem like a great backup when things are tight. But not only do you have to pay a fee for the lien, but you’ll also accrue additional interest during the extension.


Since your cash advance already carries 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 an idea of ​​your cash flow. The money you have left after paying off the essentials is what you need to spend on paying off your loan, which is the upper limit of what you can afford when taking out cash advances.

Finding alternatives to cash advance payday loans

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

It’s true that bad credit will limit the number of borrowing options you have. But you have more options than cash advance payday 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 find everything at once. You may have several months to repay your loan, which may give your budget a little more breathing space.

Reduce unnecessary expenses

Normally, your spending plan should budget for fun. You need to splurge on the things you love that make life worth living. But you should suspend this “rule” every time you take out a cash advance.

Cutting fat from your budget during the term of your advance could make it easier to meet your upcoming due date and avoid rollovers.

You’d be surprised how much money you can free up by making smart changes to your spending habits.

Tips for reducing unnecessary expenses

  • Cancel subscription and streaming services until you pay back what you owe
  • Switch to an online bank to avoid paying bank charges
  • Stop taking takeout by following a meal plan
  • Ban alcohol for your term to save money
  • Make coffee at home if you splurge on Americanos and lattes

Tips for limiting essential expenses

  • kiss a plant-based 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 mobile phone plan – switching to pay-as-you-go could save you hundreds
  • Carpool with colleagues or walk, if you live close enough to work

Takeaway meals

A rollover costs you 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.

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