Everyone has felt the financial pinch at one time or another.
And in your moment of weakness, you tend to compromise your intelligence and financial acumen in exchange for a quick fix. Granted, you may not have an option when it comes to borrowing money, using credit cards or using those same plastic cards for a cash advance, which comes with it a hefty interest rate that is enough to put you behind the financial eight ball for years to come.
The cash advance often times should be viewed as a last resort given the aforementioned interest rate that comes along with it. Unfortunately, cash advances come with it the circumstances you often can't afford to ignore.
A leaky roof, major car repair or a job loss within the family leaves you short changed and looking for ways to take care of business in the only way you can at the moment. But for some, cash advances have the type of skew you never want to associate it with: found money or the type of cash you use for something that is more want than need.
The old adage of not being able to pay cash or afford something means that you just can't have it should stand pat as it relates to cash advances. If there's a particular item that you can't afford or need to wait a few weeks to buy, then a cash advance often pops into your head quickly but conceivably should pop right back out. The only feasible way to look at a cash advance as acceptable is if you're using it on a credit card that has a zero balance and your end game is a 30 day pay off (or whenever the card bill is due) in full.
Another cash advance misstep is borrowing from the lesser of two evils: a cash advance to pay on a credit card or a bill in general. You're hardly making the kind of headway you want or need to based on this course of action. You're creating another line of debt, while not even paying off the initial one.
Cash advances, like credit cards, are high interest rates that often are needed based on a certain situation. What is totally unacceptable is when consumers create that situation by their own hand and start cashing in on their credit cards for items and purchases that they don't need, when in actuality what they get is more money held against them when it comes to credit checks, reports and a financial future that would turn bleak quickly.