I’m sure you’ve seen the growing number of Payday loans places in your neighborhood. If you don’t know what they are, you’ve probably never had a use for them before and that’s a good thing. Those who have heard of Payday and Loans were probably warned that they are not smart financial solutions. However, I think that there is a benefit for these places especially when you find yourself in a situation where you need some cash right now, and you don’t have any other means to get any cash. What a lot of financial advisers forget or choose to overlook is that not everyone has an emergency fund to dip into. Not everyone has a savings. There are a great number of people who literally are living from paycheck to paycheck. If even one cent goes awry, it throws their whole budget off.
We know, and they know it’s not the smartest way to handle your money, but some people just don’t have a choice.