Although payday loans are known to be really dangerous for our budget, especially with their high interest rates and penalty fees, they have some really serious advantages which should not be underestimated. With a correct estimation and stable income, payday loans could be a good source of fresh money with which to fill the budget in case of a serious situation.

Thanks to the easy procedure for granting the payday loans, they are an ideal financial tool which anyone could use to cover the bills until the date of taking the basic revenues comes. It is true that anyone with an ID card can apply for a payday loan and he or she would most likely be approved for it. It is also a fact that the procedure for granting such loans is really easy and is reduced to not more than 20 minutes.

This means that if at this moment you suddenly find out that you need money (to cover some bills, for purchasing goods in promotion, to cover some unexpected medical expenses or for some other reasons), you would have the option after 20 minutes to have the money in your pocket.

Of course, the estimation of your income and expenditure must be extremely precise. Take for instance the case in which you see a product which is on a promotion and if you buy it today you would be able to save a lot of money. When considering whether to apply for a payday loan do the exact calculations for the interest rates and all the additional charges for the service of the loan. If the amount you are going to save by the better price of the goods you are going to buy on the promotion is sufficiently greater than the amount which you will pay for the servicing of your loan, then it is worth the risk. Of course, you must have stable sources of income, which to cover the fees.

As you can see, payday loans have their pros, but once again we must mention it (and it is really important) all this is true only if you have made an accurate calculation of the revenues which you expect. If it is not so, payday loans could be really dangerous for your financial stability.

So consider your decisions with care.