With payday loans many people see the advantages in the short term as they offer an instant relief from financial strain and with companies like 24/7 Moneybox offering you a lump sum at the click of the button, it really couldn’t be easier. However, there is no reason why the long-term cannot be benefited too, and here’s why.

We all have dreams and aspirations for the future, particularly if you have something you want to save for, e.g. children’s university fees, a new car, a holiday, retirement and so on. Therefore, just because money is becoming a little bit tighter, particularly in the current economic climate, there is no reason why we have to push these desires aside to spend all our money on the now. Say for example that you like to put aside a £100 a month, and when payday comes round you place this money into a separate savings account. However, towards the end of the month you find that you are suffering from an amounting of bills and ones that you’re not sure how you are going to pay. Some months numerous things appear to go wrong; e.g. the dishwasher packs up; your car fails its M.O.T or seasonal problems such as heating bills.

Obviously, you have got the option of pulling out your hard earned cash from your savings account; but why touch this money and affect your interest rates (particularly if it’s in an ISA)? Applying for a short-term loan will provide you instant cash just when you need it and will therefore cover all these bills that have built up. Then once your next payday comes around this payday loan is simply paid back by direct debit from your bank account. This will therefore spread your costs across two months as opposed to just one. Cash loans offer a short-term solution for short-term cash problems and continue to allow you your long-term dreams.