Last Resort: Why Payday Loans Should Be Your #1 Option in Financial Binds

As you live and grow, the realities of life sometimes hit you pretty hard. You quickly find out that life is indeed not fair at times and that emergencies seem to always come at the WORST time in your life. But it happens to the best of us… and there’s honestly no way to avoid it. The best thing you can do for unexpected emergencies is to prepare for them.

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Unexpected emergencies come in all forms. You have medical emergencies, car emergencies, and family emergencies, all of which most people are never prepared for. Nonetheless, you get through them as best as you can. But while enduring those emergencies, can you guess the area that most people are ill-prepared for?

If you guessed money, then you are exactly right.

According to CNN, nearly a quarter of Americans have no emergency money saved… And only 29% of Americans have at least six months of monthly expenses saved. So imagine the emotional and financial distress that more than half of America faces when they have an unexpected emergency arise. It can be quite devastating.

In attempts to remedy your financial dismay, imagine being turned down or not getting approved at banking institutions because your credit is bad or because you don’t make enough money. It can make you feel completely lost and want to give up.

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And right when you thought all hope was lost, you remember this one last option that you vowed you would never use unless you absolutely had to… a payday loan.

In your mind, you’re going back and forth on whether or not you should do it or not… There are, of course, pros and cons but you can’t help but hear the overpowering sound of “It’ll keep you in debt,” and “You’ll never pay it off.”

The last thing you need is to find temporary financial relief but end up with a long-term cycle of debt. So what do you do?

Some alternatives to payday loans include:

  • You could ask your employer for an advance on your check… But there’s a whole process you have to undergo with your employer that your emergency doesn’t have time for.
  • You can ask family members to borrow the money… But they’re not as willing to help you without criticizing you and wanting to know every detail of your life.
  • You can look into income assistance programs… This would be very beneficial, and you should definitely look into it for future financial help, but it’s not going to help you with the situation at hand.
  • You can put an ad out for a roommate… But that’s not going to provide the immediate money you need for your financial emergency. It will be a great extra source of income for the future!
  • You can sell your personal items online… Again, this is a great way to get extra income but it’s not going to provide the immediate cash you need right then to solve your financial crisis.

At this point, it seems as though you’re all tapped out of resources, and payday loans are your last resort option… That’s not necessarily as bad of an option as you probably think.

The key to success with payday loans is to have a full and complete understanding of them. Take the time out to understand them and how you’ll benefit from them. Look at how they work, the repayment terms, the fees, and the type of access you have to the funds you need.

Instead of looking at them as a last resort option, consider these reasons as to why you should make them your #1 option in your financial emergency.

Why Payday Loans Should Be Your #1 Option vs. the Last Resort

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You Have Fast Access to Available Funds

With most payday loans, once approved, you can have the funds directly deposited into your account within that same day or sometimes the next day, making it the fastest way to meet your financial emergency in a flash.

The Loan Process is Easy and Convenient

Regardless of the loan amount you need, and whether you’re applying online or in-person, the application process is easy and “to the point.” This is especially true with online loans; you can apply from the comfort of your home, or even from your mobile device when you’re on the go!

Finding a trusted online company can be a little tricky sometimes, especially with the threat of scammers out there. So if you’re considering opening your loan online, here’s a list of some of the top online payday loan companies that are reputable and can meet your short-term financial needs, without the concern of fraudulent transactions.

Help is Always Available

Financial difficulties are a major contributor to stress, but with over 23,000 payday lenders in the US today, your stress can be short-lived in knowing that help is always available to you in your financial time of need, whether it’s an online lender or a physical store.

There are Very Few Approval Requirements

With most traditional loans, there is an entire process of needing a top-notch credit score and sometimes, providing collateral. If you don’t have both, or at least a good credit score, most financial institutions won’t lend to you.

With payday lending companies, most only require you to be 18 years or older, have steady income, and an active checking account. The approval requirements alone are what make the loan so appealing in a financial bind. Approval typically happens within minutes!


Financial emergencies are bound to happen, and the best way to prevent yourself from being ill-prepared for such emergencies is to buckle down and save your money. Yes, these loans are indeed helpful when you’re in a pinch but what’s even more convenient than a loan, is having emergency money sitting in your account already.

It’s not going to be easy but it will be very necessary. You’ll be able to breathe a sigh of relief when you have the money you need when you need it, without relying on outside sources.

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