Financial emergencies have a habit of cropping up at the worst possible time — when you’re stuck in-between paychecks. Perhaps you need $250 for an emergency car repair, but you just paid your rent and won’t have the funds until your next payday in two weeks. You might want to turn to a credit card or a payday loan, but those could rack up onerous fees.
What if you could get a portion of your next paycheck early without paying hefty fees or interest? Several financial services companies make this a reality by helping workers make ends meet without taking on debt. Others offer short-term, interest-free loans based on a flat membership fee, which may be easier to manage and budget for than using a credit card or paying financing fees to take out and repay a loan.