How to use Payday Loans Responsibly

Payday loans can be an absolute lifesaver when used correctly. A well-timed loan can get you out of a bad spot financially and give you a little boost while you’re waiting for the next payday. 

However, using payday loans irresponsibly can cause you a world of trouble and result in both your bank account and your credit score dropping exponentially. It is not a little loan that you take out on a whim; it needs to be tactical, and ultimately, should be a last resort option. So, when exactly is it appropriate to take out a payday loan?

When Should You Take Out a Payday Loan?

The first thing to understand is the difference between needs and wants. This is a method that is going to allow you to prioritize things that are more important over others and can also help in identifying when it’s necessary to get a payday loan. 

To find out if an expense is a need or a want, ask yourself the question, “can I survive without it.” For example, say your car broke down, and you don’t have the money to cover the repairs right now. You need your car to get to work, and you need to work so that you can get money. That makes your car a need because you need it to carry out the basic function of work, which allows you to make money for other needs. 

Compare that with, say, going out to the club on a Friday night. Sure, it’s nice to go out and unwind for the week if you can afford it. However, you can certainly live without going out this one single night. This makes it a want, and not something you should be looking for a loan for. 

Examples of When and When Not to Take Out a Payday Loan

Here are some quick bullet point examples of when you should and shouldn’t take out a payday loan:


  • Cover a medical bill, including dentist visits. 
  • For any sort of medication. 
  • To cover a house bill, like gas or electricity. 
  • To cover a car repair. 
  • To replace important broken equipment, like a new refrigerator. 


  • To buy a few beers.
  • To go on a night out. 
  • To go on holiday.
  • To get an expensive dinner.
  • To buy a new game or console/phone. 

There are plenty more should and shouldn’t examples, but your judgment is more than enough to decide which is which. 

How to Get a Payday Loan

So now that you know when to get a payday loan, we’ve to let you know how to get a payday loan. First, you have to know the difference between a direct lender and a loan broker. 

A direct lender is a party that you are getting a loan from. You can go and apply to various direct lenders directly and see if any of them approve your loan. Alternatively, you can go to a payday loan matching service. These companies are partnered with a variety of direct payday lenders. In this scenario, you fill in the service’s form, and then it automatically sends it to the various direct lenders until one of them comes back with a yes on granting your loan. 

This service saves you a lot of time and effort and doesn’t cost you a dime, so you’re better off going down this route. You can check out EagleStarLoans’s website to learn more about who they are and how they work. 

How do I Qualify for a Payday Loan?

Unlike the traditional banking establishment, payday lenders are a lot more forgiving when it comes to credit score. You can get a payday loan with a bad credit score much easier than if you went to a bank, so the requirements are certainly minimal. 

That’s not to say that there are no requirements at all, and you can’t just dismiss credit score altogether. One notorious requirement is being in a state where you can get a payday loan. You see, a lot of states outlaw payday loans and payday loan companies, meaning that you may not be eligible for one at all depending on where you live. 

There are more requirements than just that, of course, so if you’re worried about whether or not you’re eligible, you can read up on them here

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