With our current economic climate the way it currently is – rising energy bills and job insecurities – there is not a great deal of spare money about for everyone. The days of people having “spare cash” appear to have gone and businesses are struggling as we’re not spending on luxuries such as electronic items, holidays or going out for meals.

Nobody can accommodate for personal emergencies – it simply isn’t possible. You may drive to work on the Thursday and all is well. You may wake up on the Friday and the car won’t start. It goes to your local garage and it needs £600 spent on it. So you need £600 quickly as you need to get to work. Public transport is not good and you have nobody who you work with that lives near you to give you a lift. Family and friends also cannot help.

Because of the lack of money about at the moment it isn’t necessarily a good idea to try and borrow from your family and friends – as they are more than likely in the same position as you. Plus you do not want to ask them due to embarrassment as well.

Fortunately, despite restricted lending criteria amongst banks, there is a great way of short term, quick cash borrowing called payday loans. As the very name suggests a payday loan is designed to be paid back when you next get paid – it really is that simple. Therefore, this means it is only short term borrowing and also you can get the loan approved the same day you apply in a lot of circumstances. This isn’t a loan that will be with you for months as you simply pay it back the next time you get paid from your work. Don’t worry if you’re self-employed either as there are still payday loans available for you.