Are you in a bad spot financially and need money ASAP? There are many different options for people who need to borrow money fast. Some of these options include borrowing from friends or family, getting an unsecured loan, and taking out a payday loan. These methods will all help you get the money you need quickly without it being too hard on your budget! You might be surprised to learn that there are quite a few places where you can borrow money. Read on for some suggestions about how to get cash quickly, whether it’s for an emergency or just something fun!

Payday Loans in Australia

You can always use payday loans in Australia whenever you need to fix your short-term financial needs. Take, for instance, if your car broke before your next salary, and you don’t have ready cash to repair your vehicle. In such cases, payday loans are of significant advantage.

The History of Payday Loans in Australia

Generally, the rise of payday loans in Australia became evident towards the beginning of the 21st century. Consumers looking for easy and fast cash have been running to payday lenders. Financial experts highlight that the increase in demand for payday loans is attributed to the low incomes and the amplified casualisation of the labour market. It is estimated that over 7 million people are not eligible for bank credit in Australia. Thus, most of them prefer using payday loans to solve their monetary needs. Although the Australian government encourages residents to get loans from Banks, Australians still find payday loans helpful to them. A recent study shows that most of these borrowers are consumers excluded from mainstream credit. In the past two decades, payday loans have been rampant in Australia. Studies reveal that since the year 2012, over one million Australians have used this loan every year.