Payday Advance

Why is everyone so glum around the payday advance? Maybe they put too much stock in numbers, which show only the bad side of a payday advance while ignoring the intangible good.

Payday Advance - Meaning Through Math

Payday Positive is an informational site about payday advances - we are not providers. What we are are happy people with a need to spread this joy to all the world in the face of opposition - and boy if the opposition to the payday advance isn't everywhere, especially in what they like to call the facts.

Lying, no good, dirty payday advance numbers

Some people will tell you that numbers don't lie, and to those people we'd like to say "neither do payday loans!" But they never seem to understand what we mean, so we'd like to take a minute to show everyone where the numbers and payday advance loans disagree:

  1. the numbers will tell you that a payday advance loan is one of the most expensive financial opportunities around. $15 for a two week, $100 payday advance may not sound like a lot, but over the course of a whole year that $15 becomes $390, or an APR of 390%. Credit card APRS range from 15% to 35%, and banks offer unsecured lines of credit for as little as 12% APR. But! Can a credit card advance you $100 cash? Yes, for a very hefty fee of somewhere around $40. And banks are so slow in most cases you will already be paid by the time you see your cash, if you qualify for their loans at all. When used correctly, a payday advance is much faster than banks and much more cost effective than cash from your credit card.
  2. Ahh, the numbers say. But people don't use their payday advance correctly. Studies have shown that 80% of people taking out cash advances against their payday cannot repay the entire balance of the loan when they're paid and are forced into paying the roll-over fees. Even worse, of people using the cash advance as a regular means of financial aid, the average number of advances per year is 11. 11 financial emergencies each year? Highly unlikely. Au contaire! While 80% of the people roll-over their loans, those same 80% are making the moves necessary to maintain their financial stability! Just because they delay repayment of the loan doesn't mean they are going deeper into debt, it means they are avoiding debt by using the payday advance however they see fit. it might be the wrong way, but at least they can afford it.
  3. And the numbers cry out, "but you said only when used correctly is a advance til payday fast and effective!" And to that we say aloha to the great numbers debate and sprint away into the hills, chattering, tittering, laughing ourselves silly because you were crazy enough to actually put your trust in a faxless payday advance.

It turns out no matter how positive you are about a payday cash advance, the numbers always win. Lenders will try to beat around the bush and divert your attention in a less offensive direction. You can try to stay positive, we all do, but sometimes the numbers will just get you down. Let them, let your online payday advance drag you down to the very depths of insanity. Its there, when your financial demands are at their most intense, when you will finally appreciate being Payday Positive - thats when a fast payday advance will work its most benevolent magic!