Being a teacher is a highly respectful job, but is it highly paying too? If you’re one, you may know that not all teachers necessarily get high salaries. As per to U.S. Bureau of Labor Statistics, teachers of elementary schools get paid anywhere from $37780 – $95270 annually, which brings it down to $3148 – $7939 on a monthly ]basis. Now, if you’re one who gets paid around or as much as the latter, you may be in good shape. But, if you’re among those 10% of teachers who gets paid the former, life may not be too easy for you.
Having a salary of $3000 can be difficult in the United States, considering the fact that even a cup of coffee comes for no less than $3. Say you need 2 cups of coffee on an avg. per day; that rounds off to $180 per month, just on your coffee bills. So, when it comes to food and other necessities, you can imagine what you may have to spend.
Even though $3000 may be enough to cover your monthly expenses, you may not have much to save or to address an emergency financially, if something does come up. That being said, what must one do in case such a situation does arise?
Should one wait in long queues? Should one wait for ages to get approved? Or should one make life simpler by taking a payday loan?
We’d say, choose the last option as that may be your best bet.
Whom Should You Approach During a Financial Crisis?
When facing an emergency, which in most likelihood will need funds to help cater to, you may not really have the choice to wait for days in order to first get approved, then receive funds and finally use them for your urgent requirement- by then, matters may just get worse or even out of control.
You may also have a family to support, and if your income is what your family depends on, things may get a tad difficult for you at times. Say for example your income is just about enough to cater to your family’s needs, but a special occasion like a birthday comes up. What do you do then? Do you borrow money from a friend? Do you ring up your distant relatives to possibly help you out with some cash? Yes, you certainly can. But would you really be that comfortable with implementing that idea in reality?
If you feel embarrassed to do so, you always have the option to approach a lender for a loan. Of course, not all lenders will approve your request, but there are a few kinds of lenders who will.
Payday lenders understand the situation that people with fairly low salaries may face in life, which is they offer quick funding solutions. So, when you need money urgently, that’s the right place to go to.
You can always choose to approach a traditional lender for help, but most of them cause a delay in funding which is something you may not be looking for when you need money to cater to an immediate need of yours or your family’s.
How Are Payday Loans Beneficial for Teachers?
When you choose to approach a direct loan lender for help, here are the benefits you shall be able to receive from them:
- 24/7 access: Many direct lenders are based online which allows you to apply at any given time that seems convenient to you. Since you’re a teacher, you don’t have to take leave from school in order to apply for a loan and in turn miss out on classes. You can just apply for a loan online during your break-time or even after you reach home and are free to do so.
- No collateral: Many considerate direct loan lenders do not ask their borrowers to offer collateral since not only does that delay approvals but it also makes it difficult for majority loan borrowers to get funded.
- No credit checks: Direct loan lenders do not conduct credit checks for two reasons. The first being that credit checks delay approval procedures which defeats the purpose of providing funds instantly, and secondly because they believe in giving a chance to everyone to get funded. Direct lenders do not believe in considering one’s past financial records in order to judge whether or not they shall be able to repay their loan and instead rely on their current financial status.
- Quick transfers: Transfers can be made quickly since the approval procedures aren’t time consuming at all.
The one thing that direct lenders depend on is for their borrowers to have a stable income. If you’re a teacher at a school, there is no denying that the one good thing about the profession is that it meets your borrower’s requirement of needing you to have a stable income. That’s why, there should be no problem funding you and you shall be able to receive a payday loan very easily.