What Are Payday Loans?
Payday loans are short-term, small-dollar loans. Intended to close a gap in cashflow and cover immediate expenses, these loans are typically repaid on the next payday. If you need quick cash, consider applying via OntarioCASH. Based on the details of your application, you could get connected with online installment lenders rather than online payday lenders. Apply online now.
The Cost of Living in Markham, Ontario
According to Career Beacon, the average cost of living in Markham is $4,031 per month for a single person who rents. This exceeds the average single income in Markham of $53,950 per year and far exceeds what a minimum-wage worker would make in Ontario. The new minimum wage, set to come into effect on October 1, 2024, will be just $17.20 per hour, well short of the estimated living wage in Markham.
How Payday Loans Can Help in Markham
Payday loans can help bridge the gap to your next payday. Whether you have urgent car repairs, medical bills, or everyday expenses to take care of, consider applying online via OntarioCASH to close the gap in cashflow. Apply online now. Even with a poor credit score, you may still qualify as we don’t check your credit score or credit report during our online application process.
5 Tips to Improve Your Financial Health in Markham
There are many different ways to optimize your financial health in Markham, Ontario, despite the high cost of living. Here are a few examples:
- Follow a budget. The prototypical breakdown is 50% toward needs, 30% toward wants, and 20% toward saving and debt repayment.
- Increase your income. This could mean retraining for a new career or asking for a raise at your current job. It could also mean applying for a position at a different company, within the same field of work.
- Monitor your credit score. Sign up for Credit Verify to monitor your credit score and uncover any mistakes on your credit report!
- Consolidate your debts. You will then have a single monthly payment, at a lower interest rate.
- Save and invest regularly. It can be difficult to set aside any money. However, even a small amount of weekly or monthly savings and investments will accrue in the long run. Start young to give compound interest a chance to work.
Requirements to Obtain Online Payday Loans in Markham
Here are some basic requirements to apply for online payday loans in Markham:
- At least 18 years of age
- Canadian citizen or permanent resident
- Permanent address
- Proof of a consistent income
- Must have a valid Canadian bank account that has been active for at least 90 days
Minimize your NSF transactions and your ongoing payday loans and short-term loans for the best odds of approval.
Conclusion
Times are tough. Many Markham residents are struggling with the rising cost of living. OntarioCASH has your back! Apply online now. We don’t check your credit score or credit report during our online application process. Based on the details of your application, you may get connected with online installment lenders rather than online payday lenders.
