Payday loans are supposed to cover the cost of a financial emergency while you wait for your next paycheque. You should only borrow what you need, and these types of loans should only be used as a quick remedy in the short term. It is not as a long-term solution. You should not use a payday loan if you are struggling financially. For example, you cannot cover regular expenses and bills. A payday loan is a one-off solution for something unexpected.