Payday loans -- Emergency financial tool

Payday loans are also referred to as sharking. But the fact is people still apply for them. Blame it on the banking system, which discriminates against people on the basis of credit scores. They never look at the circumstances that led to such credit scores. And when you need money badly there is no option other than payday loans.

Look at payday loans as an emergency financial rescue tool. Make a point about repaying it without any delay. Try not to take extensions. Budget your finances. Use payday loans in an emergency but never misuse them.