Flourish Health & Wellbeing eMag - Latest Edition - Flipbook - Page 62
MONEY
PAY FORWARDING
Good
idea or
money
trap?
Con Barbayannis, CPA
Getting paid early can ease a cash squeeze. Understanding the costs and the
effect on your next payday helps you decide whether it will actually help.
An unexpected bill arrives, but payday is still a week away. An advance pay
app can seem like a welcome solution: a few taps and money becomes
available. The catch is that bringing income forward leaves less available later.
Before using one, it helps to understand exactly what you are signing up for.
