Taking advantage of a convenient payday loan could be the perfect answer to your short-term financial worries. There could be any number of reasons why you are faced with a short-term hole in your finances, and if you are still a few days or weeks away from your next payday, or an insurance payout, or you are about to start a new job and need some financial assistance in the meantime, a payday loan is a convenient way to help you out without getting into greater financial difficulty.
Traditionally, if you were stuck for cash there would be the following options open to you:
- Wait until you next get paid and get by on what you have left in your bank account (this could mean that you go without food in the most extreme cases, or that you have to walk instead of taking the car until you have the funds to pay a mechanic, to give just two examples)
- Speak to your bank manager about extending your overdraft on your current account
- Ask a friend for a short loan of cash
- Ask a relative for some financial help
- Ask your boss for early pay or a sub out of your future pay
- Use some money out of a savings account that you have been putting cash away into for some time
These days, quite a lot of those options are no longer open to the vast majority of us. Let’s look at the bank manager situation. How many of you know your bank manager by name? The way the high street banks have changed in recent years, and in the current economic climate, there is no longer the informality and genuine concern and trust between a bank and its customers. Instead, everything is automated, and it is much harder to get a loan from a traditional source such as a bank.
With the economy like it is it has also become much harder for people to save up money to use in the event of an emergency. The same goes for asking friends, family members, and employers. It is not as easy as it once was to ask other people for financial help, even only over a short period of time.
There is a way though where you can take advantage of a convenient payday loan without exacerbating your financial problems.
A fast payday loan application process allows you to secure the finances to see you through a short-term problem (paying back the loan amount and interest in full when you next get paid) without adding stress to your life in the form of long-term debt. Choose a payday loan provider wisely, with the best responsible lenders able to provide you clarity and purpose, a fast application process that sees the funds transferred directly to your bank account within a few hours of a successful application, and a flexible repayment plan where necessary.