Payday loans are often associated with the job someone currently works. After all, you can't take an advance on a job you haven't started yet. If you aren't happy with your current place of employment, making a switch to a new employer makes sense. Unfortunately, there may be some financial costs associated with going to an interview. Payday loans, ironically, could make it possible to take advantage of a new job opportunity.

Costs That Hold People Back

Different employers may place restrictions and limitations on employees requesting time off. The employee might not face any punishments or sanctions. Employers want to retain good workers and do understand they might have other responsibilities. Company policies, however, may limit paid personal days to five days per year. Once exceeded, time off is time off without pay. Life's bills, however, don't take any time off. So, when a new job interview comes up, concerns exist about the loss of a day's pay.

Losing Pay and Paying the Price

Losing $100 in salary could be troubling for someone barely paying the rent. The lost $100 could mean cutbacks in household expenses. And what if traveling to the interview means taking on added transportation expenses for the day? With no guarantee the job interview will lead to an offer, financial concerns may weigh on the mind. Landing the new job could mean a higher base salary. Financial woes could become less of a concern when annual income goes up. Maybe a payday loan provides a solution here.

Relieving Financial Stress

Whether in this particular situation or another, a payday loan allows you to cut down on financial stress. The advance fills in the gaps coming from the previously mentioned "lost" $100. Once the job interview finishes, you can take steps to pay back the loan. Lenders may offer options to extend the repayment terms. Perhaps repaying the loan plus interest and fees over three weeks won't be too much of a burden. If the new job offer comes through, the higher pay might mitigate the expenses of the payday loan.

The New Job and the Reset

Depending on the payday lender, borrowers may need to work for a particular employer for a set amount of time. Otherwise, they won't be eligible for a loan. The duration usually won't be too long. Two weeks is typical. Worries about being ineligible for a new payday loan will go away once the short "timeout" period passes.

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