Payday Pundit

There’s been a lot of heated rhetoric about the payday advance industry but when you break it down to its most basic level, it’s pretty straightforward.  A borrower who needs a bit of cash on a short term basis connects with a lender who can quickly accommodate that need.  That’s the simple point made in the March 5 ‘Payday Loan is an Option’ entry by one consumer finance blogger who’s wise enough to cut to the chase on the issue.  Here’s an operative passage: 

          “The point to note is that payday loans are ultra short loans that we should repay as much as we can when our next paycheck arrives. A payday loan is supposed to pull us through between paychecks especially when we require a lump sum of money in an emergency.” 

Common sense and choice.  That’s what personal finance should be about.