Payday Loans for Your Employees
With the economy tanking, many more employees are having to take out payday loans so they can keep up with their bills.
Have you ever had to give an employee a cash advance out of your own pocket so they don’t need to go to a payday loan company?
From what I’ve heard, many companies are having to accommodate their employees by giving them a cash advance so they can keep them. They understand that they can’t give them a raise, but need to do these things so they don’t leave.
It seems like it would matter most if you had the cash flow to do so and how much you trusted the employee. Of course, if they’ve been with you for years, it is something that you would do for them. But if you do it for one, would you have to do it for everyone that asked?
Are there any other alternatives that you can think of?
Tags: cash advance, payday loan
October 24th, 2008 at 11:43 am
I think living within your means would be a better idea. It doesn’t take much to keep a body alive. It is horrid to be at the mercy of irrational or even evil desires.
Avoid debt, I say, unless it’s for something that will _truly_ make you even more money.
December 16th, 2008 at 4:16 pm
The feeling is that the economy tanking. I know personally at least two employees that are having to take payday loans. And it is just for their monthly bills!