I would think that the only people stressing about a cash advance are the ones who have taken one out and now cannot pay it back. Since each financial situation is different, it is hard to make that call as an outsider. Money management takes some know how and common sense. If a person does not have enough income to make their ends meet then it would be tough to pay off a cash advance in one payment. A short-term cash advance then evolved into a long-term high interest problem.
Other causes started the cash flow problem before a cash advance came into the picture.
*Medical expenses
*Loss of employment
*Hours cut back
*Divorce/Death
*Injury
*Poor money management
*Living beyond means
*These are some of the leading reasons given for debt problems. A cash advance rarely starts the financial problem. Each one of these listed reasons begin the stress which slowly builds over time and creates desperate situations for emergency finances.
Credit counseling is a great way to help someone get a handle back onto their budget. If the problems are severe enough there are many financial opportunities to explore with the counselor. Before a decision is made, the counselor will want to rework the budget and see how much can be improved upon in the expense area.
Once the credit counselor had stripped your budget down to bare taxes, the process to rebuild it will begin. Take an honest look at your income and what you can do to improve it. How much more money would it take to not have to live paycheck to paycheck or to pay off a few bills in order to make the monthly finances more streamlines.
Once you work on the income side of the problem, dig into the cutting back. Many monthly costs are not necessary living expenses, but rather luxuries. What would we do without our movie channels, endless magazine subscriptions, take-out dinners or fancy coffees? You will live just fine with a few minor adjustments. It i more the state of mind than going without some perks which at the present moment you cannot afford. Of course, there are those who have nothing left to cut back on, but in their case, there should be other solutions used rather than a cash advance offer which seems so comforting at the moment. Stressful times may block some of the common sense rationalism behind making financial decisions.
All income levels carry financial stresses as personal money matters are relative to the situation. If you find that your stress is primarily caused from money troubles, dig deeper to the cause. Taking care of the surface problem is not going to stop whatever problem created it. Solve those problems as soon as possible so your money stresses do not affect your long-term health.
