The Hedge Funds Weblog

For millions of people, payday loans are a fast and convenient way to cover unexpected expenses such as car repair and medical bills. A payday loan can even save you money by helping you avoid bounced checks and late fees on bills. But payday loans aren't always the best solution for your financial needs.

To help you determine whether a payday loan is right for you, we recommend that you consider how you're planning to use it, how urgent your need is, and what your other options are. Payday loans can be expensive, so you should only use them after you've considered the facts and decided that it's your best option.

Ways to avoid bank overdraft fees:

We recently surveyed our customers to find out why they use payday loans. We learned that 75% of our customers use payday loans to cover unexpected expenses or pay bills. The most popular reasons were to get a car fixed, pay for medical care, or to cover a monthly bill. If you're a little short on cash, a payday loan is a great way to save money by avoiding bounced check fees and late payment fees.

• Budgeting and Cash Loans