Payday Loans and Financial Hardships

Payday Loans and Financial Hardships

Louisiana United Way recently released a study on the financial hardships 51% of Louisianans are facing. They describe the term many people fall under as Alice—Asset Limited. Income Constrained. Employed. In their words, Alice is “a term that describes households earning more than the federally designated poverty level (FPL) but less than the cost of living in their area.”

This means that the head(s) of a household are currently employed and helping the growth of the overall economy; however, they aren’t making enough to support every one of their necessities but do not fall under the federal poverty line.

This situation is largely controlled by a cooling economy and the rising cost of living in many American cities. Additionally, as the innovation of AI (Artificial Intelligence) and other technical skills are rapidly growing, PwC (PricewaterhouseCoopers) believes that those who might struggle to pay their bills are nearly 50% less likely to learn a new skill or invest in continuing education and advancement courses.

In fact, Bob Mortiz, the PwC Global Chair, says this: “We found that often, those without the skills are less financially secure and less able to access training in the skills of the future.”

These are the same skills that companies want to see in potential applicants or from their employees. These skills could be a vital asset to eventually earning more money. And the cycle continues.

We understand how frustrating this all is, and we’re here to help. Sometimes, you just simply need a little bit of extra money to help get you to the next month, the next bill, the next meal or the next day.

Payday loans are great for paying off smaller bills in order for you to focus on other needs. Applying for a payday loan and being able to pay it back once your next paycheck hits can help get you through those temporary, uncomfortable challenges.

Payday loans are also a great way to invest in training courses or continuing education to advance your workplace skills. These newly learned skills can help you to earn more money in your position or to apply for a job that pays more for those particular skill sets.

Apply for a Louisiana Payday Loan today or contact us at (225) 285-CASH (2274) to see how we can help guide you through financial hardships.