This article is going to be a little “up close and personal” because, quite frankly, the topic has me a little frusterated. I think there’s a lot of miscommunication out there when it comes to short term payday loans, and I think we need to settle the topic once and for all.

When I talk about short-term loans, I’m talking about the cash advances that you see advertised on billboards and TV. The loans where you get an advance on your next payday. That’s what I mean when I say “short term loan.”

Of course, these are the loans that the media and pop culture love to make fun of and take on and attack. I think they’re wrong, even though it’s politically incorrect for me to say so. I think it’s wrong to attack these loans mostly because they’re often perfect for some people in some situations.

Conspiracy Theory

Before I go onto the arguments specifically, I think we need to figure out who might be behind all of the bad arguments against short-term loans. Short term loan lenders are usually by small financial companies — mom and pop lenders, basically. What’s the opposite of a “mom and pop” financial company? Big finance. Just keep in mind that big finance might be behind the bad arguments.

Short-Term Loans Vs. Credit Cards

Credit cards are one of the biggest financial dangers facing anyone. It’s easy to hate short term loans because of the cheesy commercials, but credit cards are even worse. They can be used anytime — which makes them easier to slip into debt with. Credit companies hate short term loan companies for obvious competition reasons.

Don’t Lose Your Lights

If a lady is pregant during the summer, it is a good idea that she get a short-term loan to make sure the air conditioning doesn’t go off. Of course it’s more expensive — that doesn’t mean it’s not worth it.

Short-Term Loans are Like Hotels

A ton of people make the argument that payday loans costs thousands of percentage points per year. This is simlpy absurd. That’s like saying that hotels cost almost “$40,000″ per year. They do — but that’s not the point. They’re for short-term use, just like payday loans.

Final Points and Concluding Thoughts

I like short term loans and payday loans because they’re better than losing the power and electricity or even the AC. Getting one depends on your situation, regardless of what the big corporations might say.

Short term loans may or might not be justified — it depends on where you’re at and where you want to go. Just think it over for yourself.