4 Common Financial Situations Where EWA Saves the Day

You can do everything right—have a budget, stick to mindful spending, live within your means, and work every shift that’s available to you—and still face unexpected challenges that throw off your finances. Because of the way payday is set up, many employees have a few weeks between paychecks to stretch their existing funds.

If an unexpected bill or expense arises, EWA is the best option for employees to cover the cost without the long-term consequences of a payday loan. Let’s explore a few everyday scenarios that might derail your budget if you didn’t have access to EWA.

  • Emergency medical or vet charges.

You knew this one was coming—in the US, receiving emergency treatment for a medical or veterinary concern can easily leave you with a bill in the thousands. Having a robust emergency fund is the best way to prepare for these situations, but for the roughly eight out of ten workers living paycheck to paycheck, that may not be feasible.

While we hope none of our Keeper users face medical or vet emergencies, we’re proud to ensure that earned wages are available at a moment’s notice if needed.

  • Expensive home repairs.

Home repairs are also famously unpredictable and expensive. You never know when you’ll need to call a plumber, replace a broken window, or solve any number of urgent issues. And while homeowners and landlords definitely bear the brunt of the burden, renters may face smaller-scale repairs of their own, especially for items that break due to misuse.

Having a safe place to call home is critical for your well-being and mental health, and EWA helps take care of these problems right away—without waiting until payday to get started.

  • Inflated car and transit costs.

In today’s high-inflation environment, car and transit costs are hitting many budgets harder than usual.

Average monthly car payments and gas prices are higher than usual, and even employees who use public transportation may be feeling the impact. A May 2022 report found that public transportation use was down compared to the previous month, with 40% of adults allocating those funds elsewhere. But for those who commute to work using public transportation, deciding to stay home or walk to work isn’t typically an option.

In the home care industry, working on-site with patients means reliable transportation is critical. If you’re a bit behind on funds for regular maintenance, repair costs, or even getting a full tank of gas, Keeper can bridge the gap before your next paycheck.

  • Unanticipated events.

Finally, you never know when you might be invited to an unexpected wedding or birthday party, or even when you might welcome a new baby or grandchild to the family. Unfortunately, while these events and milestones are special, they often require gifts and nicer attire that can throw your budget out of alignment.

If you need to cover unexpected personal costs, use Keeper for gift funds and outfit upgrades as needed. No need to miss out entirely just because you’re between paychecks!

Final Thoughts

Ultimately, building positive financial habits is important. EWA should never serve as a substitute for the fundamentals, like budgeting and living within your means, that we highlighted in the intro. But, for some of the last-minute or emergency situations listed here, Keeper offers the perfect opportunity to cover the cost using earned wages so you can get back on track right away.

We’re all for giving employees control over how and when they spend their wages, hopefully building positive financial habits in the process. Win, win! To take the first step towards managing your earned wages, download the Keeper app below.

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