One of the things that we have been taught in the financial seminars I attended a few years ago was that we have to set aside a portion of our income for our "emergency fund." Emergency fund should be at least equivalent to your accumulated six months salary to a year's salary. The purpose of such emergency fund is to give you the money you need for the unforeseen expenses that you may have in the future like medical expenses, accidents, lost of job, and the like.
But what happens if you don't have an emergency fund and there is a big expense that cannot wait until the next pay day? Like if you are sick. You cannot wait and you should not wait for your next salary to buy your medicines or have yourself confine in the hospital. Or the big leak in your bathroom cannot wait until the next payday because the house will soon be flooded with water.
For people without emergency fund, their best option could be the payday loans. This loan can give you the money you need for your financial setback. Applying for a payday loan is very easy. Most loan companies have little requirements for those who wants to avail of this type of loan. All you have to do is to present your proof of income and employment. Your loan can be approved within a few hours and you can do your application at the comforts of your own house through the payday loan online. Once approved the money will be immediately deposited to your checking account.
But a little caution though, although it is easy to avail this type of loan you have to remember that payday loans have very high interest. Remember that you apply for this type of loan only if you really, really need the money or better yet start saving now for your emergency fund so that there is no need for such loan in the future.