Attention Line of Credit Customers: Due to a potential Canada Post strike, your statement may be delayed. If you have any questions, please contact your local store or call Customer Service at (877) 526-6639.

Borrowing Payday Loans Responsibly

So you’re short on cash and you’ve decided that a payday loan is an option for you. If you decide to move forward with a cash advance, the following tips can help you borrow responsibly.

Borrow Only What You Need

The higher amount you borrow, the higher the fees. Just because you're approved for a high dollar amount, you don't have to borrow the full amount. Only borrow the amount you need to get through until pay day. Your payday loan amount - plus fees - will be due on your next pay date, so be sure to account for the following pay cycle accordingly.

Understand the Costs and Terms

Before borrowing a payday loan, make sure you fully understand the loan terms and how much it will cost. If you're considering borrowing from Cash Money, please read our payday loan rates and terms pages first, and ask questions if you need clarification. We want you to completely understand your loan fees and the repayment process before agreeing to your payday loan terms. Once you sign your loan documents, you are responsible for repaying the full amount borrowed plus fees.

Make Sure You Can Pay Back the Loan

Avoid getting caught in a cycle of payday loans by making sure your next paycheque will cover all of your monthly expenses plus your loan amount and fees. If you feel that you cannot repay, consider borrowing a smaller amount or researching other options.

Consider Payday Loan Alternatives

Before taking out a payday loan, consider all other options. Do you have a friend or family member willing to loan you money? Can you temporarily cut an expense out of your budget? Do you have savings in place? A payday loan should only be an option after other resources have been exhausted.

Here are some payday loan alternatives to consider:

  • Borrow from family or friends
  • Build up an emergency cash fund or savings account
  • Negotiate with your creditors by calling and asking them if they can work with you
  • Keep a credit card for emergency expenses only
  • Ask your employer for an advance

Ready to Get Started?

Apply for a payday loan online now and receive a lending decision in minutes.

Want to Know More?

Select a topic below to learn more about Canada payday loans.