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How to Avoid Renewing or Rolling Over Your Cash Advance

How to Avoid Renewing or Rolling Over Your Cash Advance
Written by Publishing Team

How to avoid renewing or renewing your cash advance

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

If you are unable to determine the agreed-upon due date, there is an option to renew your loan. This can seem like a great backup when things are tight. But not only do you have to pay a fee to get the franchise, you will also get additional benefit during the extension.


Since your cash advance already has a high fee as a bad credit loan, you’ll want to avoid that at all costs. Here’s how:

Know your budget before looking for loans

Before you get a loan online, you should know how much money you can borrow.

Sit down with your budget to get a sense of your cash flow. Any cash you have left after you pay off the necessities is what you have to pay to make the loan payments, which is the upper limit of what you can afford when getting the cash advances.

Find alternatives to cash payday loans

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

It is true that bad credit will limit the number of borrowing options you have. But you have more options than payday loans with cash advances. Some direct online lenders offer bad credit installment loans as well.

Bad credit installment loans may have similar fees to payday loans, and you may find them easy to qualify. The main difference is the time you have to pay to pay off what you owe.

Bad credit installment loans spread out your payments, so you don’t have to come up with everything at once. You may have several months to pay off your loan, which may give your budget a little more breathing room.

Reduce unnecessary spending

Usually, you should customize your spending plan for fun. You need to brag about the things you enjoy that make life worth living. But you should suspend this “rule” whenever you get a cash advance.

Cutting fat out of your budget during the payback period may make it easier to reach your next due date and avoid volatility.

You’ll be amazed at how much money you can free up by making some smart changes to your spending habits.

Tips to reduce unnecessary expenses

  • Unsubscribe from streaming services to get paid
  • Switch to an online bank to avoid paying bank fees
  • Stop eating out by following the meal plan
  • Ban alcohol for the duration of your term to save money
  • Make coffee at home if you’re into Americano and latte

Tips to reduce basic expenses

  • Follow a vegan diet rich in legumes to save on higher meat and dairy costs
  • Go to a cheaper insurance company if possible
  • Reduce your energy consumption to reduce utility bills
  • Adjust Your Cell Phone Plan Switching to Pay Per Use Can Save Hundreds
  • Carpool with colleagues or walking, if you live near work


Rollover forces you more money over the already expensive borrowing option. To save your money, find your alternatives and use your budget strategically. These tips will help you avoid tipping over.


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Publishing Team

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