How’s the month shaping up like? Are your weeks full of reminders to pay important bills? If so, chances are you’re using Google Calendar not just to make sure you get to appointments and parties on time but to make sure you have enough cash for the next withdrawal. Once you take into consideration your regular expenses like rent, insurance, and utilities, these notifications might be moot. How can you pay for them if there aren’t enough days highlighted with deposits? The answer is simple: with a personal line of credit.

The benefits of a line of credit are many. For one thing, you can apply for this particular financial product in anticipate of these kinds of months with no intention to use them until your calendar is full of bills and other necessary purchases. It can sit, untouched, in your financial tool kit until you need help making payments. But don’t worry if you can’t anticipate your future financial difficulties. Many lenders of personal lines of credit offer quick and convenient applications so you can get the assistance you need at short notice. In some cases, like when you apply with MoneyKey, you can even get same-day lending.


Another advantage to this kind of financial product is the way you can use it. Unlike with a loan or cash advance, a line is large enough that you can withdraw against it in several increments if you so desire, making it ideal for multiple bills and responsibilities spread over several weeks or months. Of course, you may also use it all in one go if you wish but it’s true benefit lies in its long-term flexibility.

It also differs in the way you pay it back. Because you may only use a portion of it at varied times of the year, you rarely have to repay it in full — meaning its principal, its fees, plus any interest accrued. Typically you’ll only have to pay a minimum balance determined by the amount you’ve used plus interest. Though these smaller payments have their own due date, there’s no firm pay-by-date for the entirety of the credit payable in one lump sum. This makes a line of credit much easier to take on for those with limited budgets.

In light of these features, the alternative of small dollar loans just isn’t worth it. Rather than taking out a loan for each bill and worrying about its full repayment, take out a line of credit. It’s an easier way to keep on top of a financially trying month.