Financial security is an aspiration for all of us, but circumstances are often out of our hands. If the worst should happen, however, or if your finances just need a shot in the arm, one possible short-term solution is a payday (or emergency) loan, if used responsibly.

The first and most important issue to consider when thinking about a payday loan is, ‘Will I be able to pay it back?’. And to ensure that you will, reputable payday loan companies will only offer you fast cash loans should you be employed and earning a regular income; this is not only to protect the loan company from the borrower’s possible inability to make repayments, but it also protects the consumer from taking out a loan to solve more serious financial problems.

This is a serious point and. like any loan, payday loans should never be used as a quick fix for serious financial issues – that is, they should not be used to meet payments on other loans. In effect, payday loans should be seen as emergency loans, should your finances undergo a temporary cataclysm. Such a loan can offer a convenient way to steer you through the dense fog of unforeseen financial problems, and may provide a good temporary solution to immediate problems; they are not, however, a permanent fix for problems such as debt and bad credit.