There’s never a good time to find yourself out of pocket. Yet sometimes, no matter how well we budget or how hard we try to save, the need for short-term finance comes out of the blue.

But is now the right time for you to use a payday loan? We explore the typical scenarios in which responsible borrowers may choose to use payday finance, to help you make an informed decision about your next financial step.

Emergency expenses

It’s impossible to know what “the universe” has in store for us, or what might be lurking around the next corner. With many hard-working families and individuals living from paycheck to paycheck, unexpected expenses can seriously derail plans and finances. In such situations you may be able to ask friends or family to lend you the money you need until you can repay them. But not everyone has the luxury of generous connections with cash to spare.

It’s under these tricky circumstances that many people turn to payday loans.

Fast and accessible, payday loans can be in your account within 24 hours of application, offering a swift alternative to lengthy traditional loan application processes. They also allow you to flexibly borrow very small amounts, for the precise period you need them.

At Wizzcash, we’ve provided fast finance for customers who urgently need money to cover:

Boiler repairs

Living without hot water is simply not an option, particularly in the winter. But when boilers break, they can be very costly to fix, especially when you need to call in the professionals at short notice. Payday loans can be used to cover the cost of boiler repair and in many cases can be repaid over a time period which suits your budget.

Toilet repairs

Working plumbing is an essential in everyday life. As we all know, plumbers do not come cheaply, particularly at the last minute. If you’ve suffered a plumbing problem and don’t have the spare finance to repair it, a short-term loan can be used to cover the cost until pay day.

Vehicle repairs

We depend on our cars for everything from getting to work, to taking the kids to school. A breakdown can spell disaster, even affecting your ability to work and earn money. Emergency expenses like this are a common reason why many Wizzcash customers take on a short-term payday loan.

Home repairs

From leaking roofs to broken windows – if your property has sustained unexpected damage, you’ll want to fix the issue fast, whether that’s to prevent further, more expensive damage occurring, or to ensure security. If your monthly budget is tight and the need for repairs has come out of the blue, a payday loan is an option you may consider looking into.

Vet bills

We all love our animals, but they can be very expensive to care for – and they can get themselves into all sorts of scrapes. Whether you’re a cat person, a dog person, or a lizard person, when your pet is injured or poorly, you need to find the funds to cover vet bills ASAP. We’ve helped many customers access short-term finance to cover emergency veterinary bills.

Broken technology

From smartphones and tablets to laptops and computers, we’re incredibly dependent on technology for everything from work to arranging appointments and keeping in touch. If a crucial piece of technology breaks and you don’t have the available funds to replace or repair it, a payday loan is an avenue some people consider using to get back up and running.

Dental work

When your teeth need attention it can become very urgent, very quickly, with very little warning. If you don’t have cash stashed away to cover this eventuality, applying for a payday loan to cover your crucial dental bill is one approach you may consider taking.

When not to get a payday loan

It’s even more important to know when a payday loan is not an appropriate financial option for you. The most important rule is: if you have concerns that you may not be able to afford repayments – do not take on a payday loan under any circumstances. Missed or late payments will result in additional interest and penalties which are even more difficult to repay, triggering a debt spiral.

If you have an emergency expense but have bad credit or do not have the incoming money to cover repayment, seek free financial advice from an organisation like the Money Advice Service.
Are you seeking a short-term loan up to £1000 which you can repay in three manageable instalments spread over three months? We offer accessible short-term loans, designed to help responsible borrowers cover emergency expenses. Find out more & apply here.