This time of year always seems to be really expensive. I find that because I tend to purchase most of my Christmas presents early that it can be a really long month and I just seem to run out of money really fast. That’s where a cash advance or payday loans can help. Basically it is a short term loan that is designed to do what the name suggests and help to get you through to pay day.

This type of cash advance seems to be becoming increasingly popular in the US although I haven’t yet seen it offered in the UK. The loans are aimed at people that are in regular employment are earning at least $1,000 a month and have a valid checking account. Usually you can borrow between $100 and $1500 and the loans are also available for people with poor credit history. At the end of the loan period the lender then withdraws the loan amount and the loan fee. Some lenders also give you the option the roll over the loan until next payday but due to the nature of this type of loan being short term, I am guessing this is where the loan company makes their money in charging extra fees for this service.