There is no such thing as free money as any mom knows. Having children results in a mountain of necessary, and sometimes unexpected, expenses. Kids will be kids–sometimes to the tune of mountains of cash. When calamity calls between paychecks, consider payday loans for a short-term fix. Lately payday loans have gotten a bad reputation in the media that’s not really deserved. Most of this negative information is unwarranted. In fact, many American families have benefited from payday loans and have avoided serious financial disaster when they’ve needed just a little cash to get through a particular hang up.

Reports would have you believe that payday loan lenders prey on the poor, helpless American, but it’s not true. Most borrowers earn a median income of $32,000 and are middle aged. Nearly half have a college degree and own their own homes. All borrowers have regular income streams and active checking accounts. Payday lenders simply don’t loan to unemployed people without stability.

All payday lenders are subject to intense regulations and as a result are quite safe. The industry is regulated in over 30 states. Lenders aren’t allowed to loan over certain amounts, loans can only be for certain terms, and there are limits in place regarding how much a person can borrow and how many times a person can get a payday loan. All these regulations are in place to protect you, the borrower, from illegal predatory lending.

There are many advantages to using payday loans. Interest rates on payday loans are reasonable; you can save interest by choosing a payday loan instead of charging on a credit card. If your credit is less than perfect, don’t worry. Most payday lenders don’t require a perfect financial record to loan cash. Payday loans are fast and you can often get needed cash within hours. Payday loans perfectly meet needs that arise in between paychecks.