In South Africa, total consumer credit debt amounts to R1.66 trillion. For some purchases, it’s especially wise to take out small payday loans.
Over 10 million people in South Africa are in debt. However, you can use small payday loans for plenty of reasons other than bills.
Here are some purchases that are worth getting a small payday loan for:
1. Take Out Small Payday Loans For Food
Food is one of the ways to use payday loans for every day.
Many people use payday loans to fill in the gaps between now and their next paycheck. Food is one of the most popular reasons why others take out these loans in the first place.
Parents are far more likely to use payday loans for groceries.
If your SNAP benefits or other government food assistance have been suspended, taking out a small payday loan can work out in your favor.
Payday loan money can be just enough to buy groceries until your next payday.
2. Emergency Medical Expenses
When your health is on the line, it’s worth it to invest in a small payday loan.
If you or someone else has a medical event, your small payday loan can cover some of the expenses. Even if you have insurance, you might still have to pay for costs associated with your health issue.
Casts, EpiPens, inhalers, X-rays, and other medical devices may require out-of-pocket costs. You can borrow enough money to pay off your medical expenses.
If you have questions about payday loans, they’re worth asking. You won’t be discriminated against for using the money for medical purposes.
3. Car Expenses
If you’re having car issues, a small payday loan can help you cover the cost of repairs.
Nobody plans on having car issues. That’s when these loans come in handy.
If you need a car part replaced, you can take out a small payday loan. The same applies if you break down or get a flat tire and need your car towed.
Feel free to use small payday loans to pay off any tickets you get. If your ticket isn’t too serious, a small amount should cover the balance.
4. Computer or Phone
When it comes to staying “in touch” with the world, taking out a small payday loan for technology is usually worth it.
Computers have become a staple of everyday life. If you work from home, you might even rely on your computer for income. In that case, buy a laptop or desktop computer with a small payday loan.
If you are a student, you need a computer to type up papers, do research, and complete homework. Sure, you can go to the library, but that takes a lot of time. Library hours often aren’t convenient enough for completing an entire paper.
You can also take out a small payday loan to cover the price of a phone. The same applies to phone bills.
Use Your Loan Wisely
Only 23% of South Africans have money left at the end of the month. Chances are, the purchase you want to make is worth the trouble.
Fulfill your financial desires and apply for a payday loan of up to R8,000. You’ll love the results.