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12 Million Americans take out payday loans each year. It is not unusual, and it is certainly not something to be embarrassed about. Nevertheless, it is normal for those experiencing financial difficulties to feel ashamed, so please take some solace in these few points.


1. You Are Not Alone 


As we mentioned, 12 million Americans take out payday loans each year. Remember, that’s not even across the entire US, as 13 states prohibit the loans altogether. That means that demand for loans are high, with 23,000 payday lenders operating across those other 37 states.

S0, take a step back and realize that it is completely normal to run into money problems. The important thing at this stage is to deal with it sensibly. Is a payday loan for you? Should you ask a loved one for support? See our other guides for some direction.


retired loans

Plenty of Americans of all ages take out payday loans.


2. The Problem Is Temporary 


Yes, it probably feels like your world is crashing down around you when you can’t pay your bills and you don’t know where to turn. However, you have help at your disposal and you can find the best way for you to climb out of this dark place. Once you have got back on top, this will seem like a distant memory. A short term loan could be a way for you to get back on your feet.


3. There Are Plenty Of Tools To Help You 


Even if you are trying to stay afloat already, there will always be other tools which are simple to use and help you save. You could, for example, try budgeting apps, or try an interest-free credit card. This means that your incomings will fall, and you can watch as you strengthen your situation.


4. Your Loved Ones Have Encountered Money Troubles Before


Borrowers are often afraid of what their friends and family may think about them struggling with finances. You’ll be reassured to hear than 60% of Americans have helped a loved one with their finances before (Bankrate). So, whether they have had their own problems, or supported someone else with them in the past, money issues are not new to them. You could even consider borrowing from friends and family as a way of securing the money you need.


5. Financial Assistance May Be Part Of Your Employment Contract 


Many employers include cash advances as part of their contracts. This essentially means that employees are eligible to receive their paychecks early. If you have encountered unforeseen expenses, ask your employer if you are entitled to any help. The reason that schemes such as these exist is because of how frequent money problems are. They won’t be shocked – they will likely be supportive.

If you are not in full time employment, don’t worry! There are payday loan options available if you are unemployed, self employed or retired.


cash advance

Your employer may be able to help you. They will be no stranger to financial issues.


6. Life Is Too Short


Think about why people encounter money problems. Medical bills they didn’t see coming suddenly hit them. Someone crashes into their car. They have to pay for the funeral costs of a loved one.

These are all wake up calls, albeit expensive ones. Our point is that life throws unexpected curveballs your way. You can choose to be stressed, or you can deal with the situation and move forwards. We choose the latter, and we hope that after reading this, you feel more calm, and choose it too.