Don’t be tempted by fast cash — get the facts about payday loans Contact us Cymraeg

Have you checked out the alternatives to a payday loan?

Find out about cheaper, lower risk alternatives and how to tackle money problems.

What people tell us about using payday loans for everyday essentials

“I did have it in mind that I would definitely be able to pay it back, but you know, I just wasn’t realistic because there is always some kind of emergency somewhere…”

Try not to use a payday loan to regularly pay for everyday essentials when money is tight.

Here’s what you can do instead:

  1. Talk to everyone you owe money to and see if they will agree to you paying smaller amounts over a longer period. This will help free up cash to pay for essentials.

    For more help read our guide: Talk to the people you owe money to, or if you’d like someone to help you find a free debt adviser now

  2. See if your employer can offer alternative options. If you’re claiming benefits and waiting for your first payment, or if your money is late, you can ask Jobcentre Plus for a short-term advance.

  3. Ask family or friends if they can help you. Remember you don’t want to lose a good friend or fall out with a family member because of money. Make sure you draw up an agreement and pay the money back on time. Read our guide: Should you borrow from family and friends?

  4. Don’t assume you can’t borrow elsewhere. Even if you’ve got a poor credit rating, there are alternatives to payday loans. And consider using a credit card or authorised overdraft – but only if you’re sure you’ll be able to repay at the end of the month and won’t go over your credit limit. To find out more, read our guide: Alternatives to payday loans

If you take out a payday loan always make sure you know the facts first. Read our guides Payday loans and Payday loan problems