Life is full of surprises. One can never assume that everything will always be ok. I am currently employed and also work part time online. I currently do not have a shortage of money but I always think of what would happen if I lose my job.

Here is my situation: I have a family of five people; I have a wife, a 4.5 year old son, and father-in-law with mother-in-law. And I am the only one who is working as my wife is staying home with the child and the in-laws are too ill to help out. Thus, I am working day and frequently night to support my family. Fortunately, the house is already paid for but…. A couple of years ago my wife and I decided to purchase mutual funds in hope of making a good return. As we did not have enough money, we borrowed to invest. So, at this point we have investments (that are losing in value because of the forthcoming recession) and we have a loan of approximately 95 thousands dollars to take care of.

Since I am working we do not have problems with paying the loan interest. But what if I lose my job or what if we would need money for whatever reason? How would we handle the loan payments and all other expenses?

So, I started looking into where I would be able to get money if I need them. I heard about the payday loans but mostly the comments were negative. People were complaining that the rates were outrageously high, etc. But reading the stories I realized that most of the time the borrowers were at fault themselves. Why? Because they borrowed the money but did not return them on time. Of course they were slapped with huge fines as a result. But what did they expect? Take a credit card as an example. If you do not make your payments on time, your interest rate skyrockets to around 28%. You are being punished for the inability to handle the loan responsibly.

Having said that, I decided to look into the payday loans. And I found a company called paydayloanneeds (their web address is paydayloanneeds.com) that offers cash advances of up to 1,500 dollars. They provide loans for emergencies. It is quite easy to qualify for a loan. And as long as you manage the loan responsibly, there will be no huge fines or fees.

Nikolai