There are many ways that you might be able to afford healthier food if you want to find one. Eating healthier is something that many of us are aiming to do but it can seem difficult when it can seem like the healthiest foods are some of the most expensive. This means that you might be struggling to afford them and looking for ways that you can because you really want to be healthier. It can be tough deciding on what to do; whether lending will be the right decision and if so what type of loan will be the best. Assuming that you do decide to borrow money, will a payday loan be right for you?
What are payday loans for?
You may be wondering what payday loans are actually for. The good thing is that there is no set purpose for this type of loan and this means that you can use the money for buying anything you wish. They are not like certain types of loans where you have to use the money for a specific purpose, such as a student loan or a mortgage. So, you will be able to use one to buy healthier food if you want to. These loans did come about for those with a poor credit record and therefore there is no credit check, so if this is a concern for you then you needn’t worry about it. If you have a poor credit record you will still be able to borrow the money and there will be little risk that you will be turned down when you apply for one. They are also arranged very quickly which means that if you need the money in a hurry to buy the healthy food, then this will not be a problem at all. You may even find that you are able to get the money within a few hours, so you can start shopping really quickly. Some may take a bit longer, but it is unlikely that it will take longer than a few days to get the money and it is likely that you will be able to wait that long if you need to. However, if you compare lenders you will find that there are some that are quicker than others and so you can just choose the quicker one if this is really important to you.
Can I afford a payday loan?
It is really important to think about whether you can afford the loan. It is often easy to think about the loan as some money that will help you and not to think about the cost of it. All loans have a charge and you will not only have to pay back the money that you borrow but also pay enough to cover that charge as well. This is something that you can calculate on the lender’s website. You will therefore know exactly how much you will have to repay. It is really important to make sure that you will have enough money to be able to afford to repay this and to cover all of your other expenses as well. It can be tempting to think that because you have to repay the payday loan on the day that you are paid, that you will automatically have enough money available to pay it. Of course, your pay should be more than enough to cover it, but you may have other direct debits to pay, perhaps an overdraft to clear and things like this which could potentially mean that there will not be enough money. Alternatively, you may pay it but then not have enough money left to manage to pay everything else that you need. Therefore, it is not only important to calculate if you can afford it but to also set yourself a tight budget so that you know that you will be able to manage.
Will a payday loan be the right type of borrowing?
Even if you have worked out that you will be able to repay the loan, you need to work out if it will be the right type of borrowing. If you just need to buy healthy foods once, then it could be useful as you will get one lump sum of money, which you will have to repay quickly. However, if you want to buy healthy foods regularly then having a lump sum will only help on a temporary basis. Therefore, you need to think whether the loan will really help you in your quest for healthy food. In fact it might be that no loan will really be the answer if you want to eat healthy food on a permanent basis. It might be that you will be better off finding ways to budget better so you can afford healthier food or to earn more. You could always get the loan to help you start while you are finding ways to better manage your money so that you can afford the healthy food on a more permanent basis in the future.