Utility late fees, rent late fees, overdraft fees, and credit card fees are on average higher than payday loan fees according to following chart.

Payday loans are short term loans that are geared to help with short term financial emergencies. Payday loans are products when you need short term short cash loans. On average they are around $20 per $100 borrowed. Although that calculates approximately to 20% per two weeks, but that calculates much cheaper than the fees mentioned above.

Back in May, we wrote an article where we applied APR rates to overdraft fees to demonstrate how much more expensive overdraft fees are in comparing to payday loans.

Payday  loans are great solution to your short term financial needs so as long as you use payday loans responsibly.

Make sure you keep educating yourself and learn all about payday loans and the payday lender you will be taking loans with before you apply for a loan.