Every time I turn on my TV, I’m bombarded with (usually annoying) commercials for cash advance businesses that promise you quick and easy payday loans with no strings attached. However, using these services can often put you in a worse situation than you were in before. Even though they can seem like a benevolent quick fix to money problems, you will usually end up worse off. According to Credit Karma, payday loan services can be “toxic” to your credit, and they explore several alternatives that will leave you better off, such as:
- Being smart with a credit card.
- Obtaining small loans from credit unions and small banks.
- Paycheck Advance from employers.
- Borrowing money from family and friends.
- Using your emergency fund
- Living within or below your means
Payday loans should only be used as an absolute last resort, and only for amounts of money you know you will be able to pay back.












