The COVID-19 coronavirus has spread to almost every country in the world – and it’s causing massive layoffs and economic damage to countries that have issued lockdown and shelter-in-place orders for their residents.
Wondering how you may be able to cover unexpected expenses during the coronavirus outbreak? Payday loans or cash advances may be a helpful tool if you do not have a “rainy day fund” to cover unexpected costs. Here are just a few ways that payday advances can help you get through this pandemic.
1) Help Cover Expenses After Job Loss or Layoffs Until You Get Unemployment
In some countries like America, the rate of unemployment is expected to reach up to 30%. Total job losses could be as high as 47 million – and in other countries around the world like Italy, Spain, and France, the rate of job loss is just as dire.
While most countries offer unemployment benefits for laid-off workers or will be providing government aid, this can take weeks to process, especially given the high demand for these benefits.
If you need cash right away to cover your standard expenses while you wait for unemployment benefits to kick in, payday loans may be a good option. You can take out a loan to cover your costs, then repay it once you begin getting unemployment payments.
2) Pay for Travel to Care for Family Members
Unfortunately, the COVID-19 coronavirus is extremely deadly to older people, individuals who are immunocompromised, and who have underlying health conditions like diabetes and obesity. If you have family members who have a high risk of becoming seriously ill or dying due to coronavirus, you may need to help them get through this time.
If you need to travel to family members so that you can shop for them, minimize their exposure to the virus, and take care of their daily needs, payday advances are a good way to get money to pay for airfare, a bus, or even fuel for a long car trip across the country.
3) Get Cash for Unexpected Expenses While Income Is Reduced
Unfortunately, the COVID-19 coronavirus pandemic won’t stop the flow of other expenses that can pop up unexpectedly in your day-to-day life – and the strain of unemployment or reduced income can make these costs worse.
Whether you need to pay an overdue gas or electric bill, you require an emergency car repair, or you have medical costs related to COVID-19 or any other condition during this outbreak, you may find yourself short on the cash that you need to cover these costs.
If this is the case, cash advances and payday loans may be a good option. You’ll be able to cover unexpected bills and ensure that your financial situation doesn’t get worse due to the COVID-19 coronavirus.
Stay Safe – and Know If Payday Advances Are Right for You!
These are troubling times in every nation throughout the world. So, stay safe. Follow your government’s instructions for dealing with COVID-19 coronavirus – and familiarize yourself with the World Health Organization’s advice on preventing its spread. Make sure you and your family stay safe, and know if cash advances from a payday lender are the right choice to help you financially through this difficult situation.